The deep learning industry in the Nordics is thriving, characterized by a mix of startups and established companies innovating in artificial intelligence. These organizations specialize in applications ranging from healthcare solutions to autonomous vehicles, leveraging advanced algorithms and massive datasets. A remarkable aspect is the collaboration between academia and industry, which fuels research and ideation. Countries like Sweden and Finland are propelling initiatives to enhance technology adoption, attracting global talent and investments. The region is poised for growth, with a focus on scalability and ethical AI, as companies aim to develop solutions that positively impact societies and drive economic value.

The investors listed represent a blend of venture capital firms and private equity groups headquartered across Stockholm, Helsinki, and Copenhagen. Since their establishment between 1979 and 2016, these firms vary in size, with teams ranging from a few to several thousand employees. In 2024, they collectively funded multiple transactions—encouraging growth in the deep learning sector. These robust investments reflect their commitment to nurturing technological innovations while supporting promising startups across the Nordic landscape. Notably, firms like EQT Group and Creandum are at the forefront of driving impactful change in this dynamic industry.

Top 14 Deep Learning Investors in the Nordics

1. Almi

• Website: almi.se
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 201-500
• Number of deals in 2024: 7
• LinkedIn: almi-ab

Almi AB is a financial services company based in Stockholm, Sweden, founded in 1994. It specializes in providing loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden. Almi aims to enhance the growth and competitiveness of these businesses by offering tailored financial solutions and guidance. In recent years, Almi has been involved in several notable transactions in the deep learning sector. For instance, they participated in the funding rounds for Embedl AB, which focuses on deep learning optimization tools for AI, showcasing their commitment to investing in innovative technologies. Additionally, Almi has made seed investments in companies like Scaleout and Imagimob, further indicating their active role in supporting tech startups, including those in the deep learning space.

2. EQT Ventures

• Website: eqtventures.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2015
• Headcount: 11-50
• Number of deals in 2024: 28
• LinkedIn: eqt-ventures

EQT Ventures is a venture capital firm based in Stockholm, Sweden, founded in 2015. The firm specializes in investing in early-stage tech startups, providing not only financial support but also operational assistance to entrepreneurs. EQT Ventures connects startups with a global network of industry experts and resources to foster growth and innovation. Among their notable transactions, they have invested in Pruna AI, which raised $6.5 million in a seed round, and Standard Cognition, which raised $150 million in a Series C round. Standard Cognition, in particular, focuses on AI-driven technology for autonomous checkout solutions, showcasing EQT's commitment to deep learning and AI applications. Additionally, their investment in Tinyclues, a company that utilizes AI for marketing solutions, further emphasizes their engagement in the deep learning space.

3. Inventure

• Website: inventure.vc
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2005
• Headcount: 11-50
• Number of deals in 2024: 9
• LinkedIn: inventure

Inventure is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2005. The firm focuses on backing ambitious Nordic and Baltic founders, providing venture capital investment and portfolio management services to early-stage tech startups. Inventure has been involved in several notable transactions in the deep learning context, including investments in Hopsworks, a Stockholm-based platform for data-intensive artificial intelligence, which raised funding in multiple rounds (Seed, Series A, and Series B) to enhance its technological advancements and expand its market presence. Additionally, Inventure participated in funding rounds for AImotive, a company developing autonomous driving systems that leverage deep learning technologies. These transactions highlight Inventure's commitment to supporting innovative companies in the deep learning space.

4. EQT Group

• Website: eqtgroup.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 1001-5000
• Number of deals in 2024: 30
• LinkedIn: eqt-partners

EQT Group is a prominent investment firm based in Stockholm, Sweden, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Founded in 1994, EQT serves institutional investors by providing expertise in managing diverse investment portfolios across multiple sectors and geographies. Among their notable transactions, EQT has shown interest in the deep learning sector through their participation in the funding of Vara, a Berlin-based AI breast cancer screening platform, which raised €4.5 million in extension funding. This investment highlights EQT's commitment to supporting innovative technologies that leverage AI and deep learning in healthcare. Additionally, EQT's acquisition of Certara, a health technology company, further emphasizes their focus on sectors where deep learning can play a transformative role, particularly in drug development and healthcare solutions. Overall, EQT Group's strategic investments in technology and healthcare position them as a relevant player in the deep learning investment landscape.

5. Creandum

• Website: creandum.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2003
• Headcount: 11-50
• Number of deals in 2024: 17
• LinkedIn: creandum

Creandum is a venture capital firm based in Stockholm, Sweden, founded in 2003. They specialize in supporting early-stage entrepreneurs in building global, category-defining companies across various sectors, including fintech and health tech. Creandum provides venture capital investment, strategic support, and networking opportunities to startups, nurturing them from seed to IPO. Notably, they have been involved in significant transactions such as their investments in Neo4j, a leading open-source graph database vendor that raised substantial funding rounds, including $325 million in a Series F round in 2021. This investment highlights Creandum's engagement with companies that are at the forefront of data science and cloud technologies, which are integral to the deep learning landscape.

6. Industrifonden

• Website: industrifonden.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1979
• Headcount: 11-50
• Number of deals in 2024: 9
• LinkedIn: industrifonden

Industrifonden is a Stockholm-based venture capital fund founded in 1979, specializing in early-stage investments in sectors such as Deep Tech, Life Science, and Transformative Tech. The fund is dedicated to creating long-term value through partnerships with passionate founders. Notably, Industrifonden has participated in significant transactions within the deep learning context, including a Series A funding round for Hopsworks, a platform for data-intensive artificial intelligence, where they contributed to a total of $5.9 million raised in 2021 and a subsequent $6.5 million in a Series B round in 2023. They also led a €5.0 million Series A round for Logical Clocks, which focuses on machine learning and data science solutions. These investments highlight Industrifonden's commitment to supporting innovative companies in the deep learning industry.

7. Icebreaker.vc

• Website: icebreaker.vc
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2016
• Headcount: 11-50
• Number of deals in 2024: 7
• LinkedIn: icebreaker-vc

Icebreaker.vc is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2016. The firm specializes in providing funding and support to idea-stage technology startups, primarily in Finland, Estonia, and Sweden. Icebreaker.vc has been involved in several transactions, including notable investments such as MVision AI, which raised $1,650,000 in a pre-seed round in January 2020. This investment indicates their interest in AI technologies, which often encompass deep learning applications. Other transactions include investments in companies like Quantastica, which operates in the quantum computing market, and RoadCloud, which focuses on transportation technology. These investments reflect Icebreaker.vc's commitment to supporting innovative technology ventures, potentially including those in the deep learning sector.

8. Ericsson

• Website: ericsson.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1876
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn: ericsson

Ericsson, founded in 1876 and headquartered in Stockholm, Sweden, is a leading telecommunications company that specializes in advanced connectivity solutions, including 5G networks and IoT platforms. With a workforce of over 10,000 employees, Ericsson is committed to enhancing operational efficiency and user experiences through high-speed connectivity. As an investor, Ericsson Ventures has been actively involved in the deep learning and AI landscape. Notable transactions include their investment in d-Matrix, a generative AI compute startup that raised $110 million to improve AI computational performance, and Hadean, which is developing Metaverse infrastructure. Additionally, Ericsson has invested in Nubis Communications, focusing on optical engine technologies, which can also play a role in AI applications. These investments reflect Ericsson's strategic interest in technologies that complement their core telecommunications business while also pushing the boundaries of AI and deep learning.

9. First Fellow Partners

• Website: firstfellow.com
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2016
• Headcount: 1-10
• Number of deals in 2024: 4
• LinkedIn: first-fellow-partners

First Fellow Partners is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2016. The firm focuses on investing in startups and providing strategic guidance to help businesses grow, particularly in technology and innovation sectors. They operate by investing their own funds and prioritize long-term partnerships with founders. Notably, First Fellow Partners has been involved in several transactions relevant to the deep learning context, including aito.ai, a Helsinki-based startup that raised $1.1M in pre-seed funding and $1,758,240 in a seed round. Aito.ai specializes in AI and machine learning solutions, which aligns with the deep learning industry. Additionally, they have invested in other technology-focused startups, indicating a broader interest in innovative sectors.

10. Heartcore Capital

• Website: heartcore.com
• Type: Venture Capital
• Headquarters: Copenhagen, Denmark
• Founded year: 2007
• Headcount: 11-50
• Number of deals in 2024: 17
• LinkedIn: heartcorecapital

Heartcore Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2007. The firm specializes in investing in early-stage technology companies, providing both capital and guidance to entrepreneurs throughout their business journey. Heartcore has made a notable impact in the technology sector with a strong emphasis on building long-term relationships with founders. Among their significant transactions, Heartcore has been involved in multiple funding rounds for Neo4j, a leading graph database platform, raising a total of $60 million across Series A to D rounds from 2009 to 2016. This involvement highlights Heartcore's interest in companies that operate at the intersection of data management and advanced analytics, which are critical components in the deep learning landscape.

11. Seed Capital Denmark

• Website: seedcapital.dk
• Type: Venture Capital
• Headquarters: Frederiksberg, Frederiksberg, Denmark
• Founded year: 2004
• Headcount: 1-10
• Number of deals in 2024: 5
• LinkedIn: seed-capital-denmark

Seed Capital Denmark is a venture capital firm based in Frederiksberg, Denmark, founded in 2004. The firm specializes in providing seed funding and advisory services to technology startups, particularly in sectors such as SaaS and Fintech. With a strong track record of successful investments, Seed Capital supports its portfolio companies from seed stage to exit. Notably, they led a €5 million seed funding round for Abzu, a Copenhagen-based software startup that is developing an AI platform for pharmaceutical drug discovery, indicating their engagement in the deep learning sector. Additionally, they have participated in other seed rounds, such as Certainly and Tembi, showcasing their active role in nurturing early-stage technology companies.

12. Lifeline Ventures

• Website: lifelineventures.com
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2009
• Headcount: 1-10
• Number of deals in 2024: 14
• LinkedIn: lifeline-ventures

Lifeline Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2009. The firm specializes in early-stage investments, providing financial backing and advisory services to resilient entrepreneurs across various sectors. Lifeline Ventures has been involved in several notable transactions, including investments in Flow AI, which raised $4.4 million in a seed round in November 2021 and $660,000 in a pre-seed round in December 2020. Additionally, they participated in the funding of Digital Workforce, a company focused on robotic process automation, which suggests an interest in technology-driven solutions. Their investment in Louhe, which raised $3.27 million in a seed round in October 2024, further demonstrates their active role in supporting innovative startups. While their portfolio is diverse, the presence of technology-oriented investments indicates a potential alignment with the deep learning industry.

13. OpenOcean

• Website: openocean.vc
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2009
• Headcount: 11-50
• Number of deals in 2024: 7
• LinkedIn: openocean-vc

OpenOcean is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2009. The firm specializes in investing in early-stage technology startups across Europe, focusing on empowering founders in the data economy by providing capital and expertise to help scale innovative solutions. OpenOcean has been involved in several notable transactions in the deep learning context, including a $12 million Series A funding round for LatticeFlow, which is developing an AI platform for computer vision. Additionally, OpenOcean has a history of investment in RapidMiner, a predictive analytics platform, participating in multiple funding rounds that have collectively raised significant capital for the company. These investments highlight OpenOcean's commitment to supporting advancements in AI and deep learning technologies.

14. Alliance VC

• Website: alliance.vc
• Type: Venture Capital
• Headquarters: Oslo, Oslo, Norway
• Founded year: 2001
• Headcount: 1-10
• Number of deals in 2024: 5
• LinkedIn: alliance-venture

Alliance Venture Capital is a venture capital firm based in Oslo, Norway, founded in 2001. The firm specializes in investing in early-stage technology companies founded by Nordic entrepreneurs with global ambitions. Alliance VC provides not only financial support but also strategic guidance to help startups scale their operations and navigate funding challenges. Among their notable transactions, they have invested in Arundo Analytics, which raised significant seed funding in 2015 and 2016, and Boost AI, a Norwegian AI company that received a Series A funding round to expand internationally. This investment in Boost AI highlights their commitment to fostering innovation within the AI and deep learning sectors, making them a relevant player in this space. Additionally, they have invested in 1X, which raised $23.5 million in Series A funding in 2023, further showcasing their active role in supporting technology-driven companies.

Deep Learning Insights: Key Investors in the Nordics

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