The Nordic startups and scaleups to watch in 2022

Sifted ranked the most promising amongst Nordic startups. Which are the companies to watch in 2022?

One of the most active ecosystems in Europe, the Nordics have fostered some of the continent’s finest startups — including giants of the likes of Klarna, Pleo, Aiven, and Oda, as well as 15 more unicorns.

Four out of five countries had record-breaking spells in 2021, with the highest aggregate funding ever recorded in the region and some of the largest rounds in Europe. Even in view of unstable market conditions, Nordic startups are going strength to strength to consolidate their presence across the continent. Sifted ranked the most promising amongst them, including new faces, rising stars, and under-the-radar players.

(If there is anyone missing from this list, or anything is wrong, please let us know by email at [email protected])

Key

Year founded

Amount raised

Last funding round

Valuation

Employees

H2 Green Steel's logo

H2 Green Steel

Stockholm, Sweden

2020

€96m

Series A

€477

51-200

Rocker (formerly Bynk)'s logo

Rocker (formerly Bynk)

Fintech /

rocker.com

Stockholm, Sweden

2016

€77m

Early VC

€220

51-200

Simple Feast's logo

Simple Feast

Copenhagen, Denmark

2015

€92m

Late VC

€205

51-200

2013

€91m

Late VC

€232

51-200

Matsmart - Motatos's logo

Matsmart - Motatos

Stockholm, Sweden

2014

€102m

Series C

€182

51-200

Varjo's logo

Varjo

Health, Media /

varjo.com

Helsinki, Finland

2016

€84m

Debt

€230

51-200

Planhat's logo

Planhat

Marketing, Enterprise Software /

planhat.com

Stockholm, Sweden

2014

€46m

Series A

€227

51-200

NMD Pharma's logo

NMD Pharma

Aarhus, Denmark

2015

€73m

Late VC

€190

11-50

Templafy's logo

Templafy

Enterprise Software /

templafy.com

Copenhagen, Denmark

2014

€110m

Series F

€273

201-500

TactoTek's logo

TactoTek

Semiconductors /

tactotek.com

Kempele, Finland

2011

€72m

Debt

€115

51-200

Heart Aerospace's logo

Heart Aerospace

Energy, Transportation /

heartaerospace.com

Gothenburg, Sweden

2018

€46m

Series A

€159

51-200

PortalOne's logo

PortalOne

Oslo, Norway

2018

€68m

Series A

€273

11-50

ZeroNorth's logo

ZeroNorth

Copenhagen, Denmark

2020

€46m

Series B

€227

51-200

Lub Foods (Nick's)'s logo

Lub Foods (Nick's)

Sundbybergs kommun, Sweden

2013

€91m

Series C

€455

51-200

Hedvig's logo

Hedvig

Fintech /

hedvig.com

Stockholm, Sweden

2017

€61m

Series B

€205

51-200

Billogram's logo

Billogram

Fintech /

billogram.com

Stockholm, Sweden

2011

€60m

Late VC

€205

51-200

ViaBill's logo

ViaBill

Fintech /

viabill.com

Copenhagen, Denmark

2014

€65m

Early VC

€273

51-200

Firstvet's logo

Firstvet

Stockholm, Sweden

2016

€56m

Late VC

€159

51-200

Muna Therapeutics's logo

Muna Therapeutics

Copenhagen, Denmark

2020

€66m

Series A

€332

11-50

Shoreline's logo

Shoreline

Energy /

shoreline.no

Stavanger, Norway

2014

€56m

Series B

€159

11-50

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