The factory automation industry in the Nordics focuses on streamlining manufacturing processes through various technological advancements. Companies operate in sectors such as robotics, control systems, and sensor technology. They offer solutions that enhance efficiency, reduce waste, and improve quality across production lines. With a growing emphasis on sustainable practices, the industry is pivoting towards smart factories and digital twins, aiming for increased connectivity and integration. As the demand for automation escalates, enterprises are investing in advanced AI and IoT technologies, positioning themselves to meet future industrial challenges and optimize their operations.

This list features 16 significant investors in the factory automation sector throughout the Nordics, showcasing both corporate and venture capital firms. Most investors are headquartered in Stockholm or other prominent cities in the region and vary in size, from small private equity firms to large corporate giants. Founded between the mid-20th century and the early 2000s, they have made noteworthy investments in the past year, with some reporting over 20 deals. Examples are Indutrade Life Science and ASSA ABLOY, reflecting strategic interests in automation technologies.

Top 16 Factory Automation 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 provides loans, risk capital, and business development support to small and medium-sized enterprises (SMEs) in Sweden, aiming to enhance their growth and competitiveness through tailored financial solutions. Almi has been involved in several transactions that highlight its engagement with technology sectors relevant to factory automation. Notably, they participated in the seed round for Tricylon Robotics, a company focused on robotics, which is a key area within factory automation. Additionally, they have invested in other companies like MTEK and FlexQube, which may also have applications in automation and manufacturing processes. These investments demonstrate Almi's commitment to supporting innovative companies that contribute to the advancement of factory automation technologies.

2. Indutrade Life Science

• Website: indutrade.se
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1978
• Headcount: 1001-5000
• Number of deals in 2024: 14
• LinkedIn: indutrade-life-science

Indutrade Life Science is a corporate investor based in Stockholm, Sweden, founded in 1978. The company operates as part of an industrial group that focuses on developing and acquiring companies with high technical expertise across various technology and industrial sectors. Indutrade emphasizes long-term relationships with its customers and operates through a decentralized structure, allowing its subsidiaries to maintain independence while benefiting from the group's resources. Notably, Indutrade has made several strategic acquisitions in the factory automation sector, including the acquisition of Kontram Oy, a Finnish leader in industrial automation, and SDT Scandinavian Drive Technologies AB, which enhances their automation solutions portfolio. These transactions reflect Indutrade's commitment to expanding its capabilities in the factory automation industry, alongside its broader industrial focus.

3. Addtech AB

• Website: addtech.se
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1906
• Headcount: 1001-5000
• Number of deals in 2024: 9
• LinkedIn: addtech-ab

Addtech AB is a technology solutions provider based in Stockholm, Sweden, specializing in high-tech products and services across various sectors, including automation, electrification, energy, industrial solutions, and process technology. Founded in 1906, the company serves OEM manufacturers and end-users, helping them enhance operational efficiency and sustainability through innovative solutions. In recent years, Addtech has made significant acquisitions to strengthen its presence in the factory automation market. Notable transactions include the acquisition of Kaptas Oy, which focuses on automation systems for the pharmaceutical and food industries, and Omniray AG, a technical trading company that enhances Addtech's position in the European automation market. These strategic moves highlight Addtech's commitment to expanding its footprint in the factory automation sector.

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 founded in 1994, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Based in Stockholm, Sweden, EQT serves institutional investors by managing diverse investment portfolios across various sectors and geographies. The firm has made significant investments in the factory automation sector, including the acquisition of BBS Automation, a provider of automation solutions for complex manufacturing and testing processes, and Dorner Holding Corporation, which focuses on industrial automation. Additionally, EQT has invested in Piab Group Holding, a Swedish industrial technology company, and AutoStore, a Norwegian robotics company, further solidifying its presence in the automation landscape. These strategic investments highlight EQT's expertise and commitment to fostering growth in the factory automation industry.

5. ASSA ABLOY Group

• Website: assaabloy.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 10001+
• Number of deals in 2024: 21
• LinkedIn: assaabloy

ASSA ABLOY Group is a leading security solutions provider based in Stockholm, Sweden, specializing in locks, doors, gates, and entrance automation. Founded in 1994, the company has established itself as a leader in the security industry through a strong focus on innovation and a diverse product portfolio. In recent years, ASSA ABLOY has made several strategic acquisitions to enhance its offerings. Notably, the acquisition of Kinetron in September 2023, which specializes in motion-based energy harvesting systems, aims to bolster their digital access solutions and energy-efficient locking systems. This aligns with trends in factory automation where energy efficiency and smart technology integration are critical. Furthermore, their acquisition of Modern Entrance Systems in August 2024 reflects their strategy to expand in the US market, potentially enhancing their capabilities in automated entrance solutions that are vital in industrial settings. Overall, ASSA ABLOY's activities indicate a growing relevance in the factory automation sector, particularly in areas related to access control and automation technologies.

6. Indutrade AB

• Website: indutrade.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1978
• Headcount: 5001-10000
• Number of deals in 2024: 1
• LinkedIn: indutrade-ab

Indutrade AB is a technology and industrial group based in Stockholm, Sweden, founded in 1978. The company develops and acquires businesses characterized by high technical expertise, operating through over 200 subsidiaries. Indutrade provides a diverse range of industrial and technological products across various sectors, including infrastructure, medical technology, and energy. Notably, Indutrade has made significant acquisitions in the factory automation space, such as Stein Automation GmbH & Co. KG, which specializes in Industry 4.0-ready pallet transfer systems for assembly lines, and VarioDrive, a supplier of motion control solutions. These acquisitions reflect Indutrade's strategic focus on enhancing its capabilities in factory automation, thereby strengthening its position in the industrial sector.

7. Etteplan

• Website: etteplan.com
• Type: Corporate
• Headquarters: Espoo, Uusimaa, Finland
• Founded year: 1983
• Headcount: 1001-5000
• Number of deals in 2024: 3
• LinkedIn: etteplan-group

Etteplan is a technology service company based in Espoo, Uusimaa, Finland, founded in 1983. The company specializes in providing engineering solutions and software services to various industrial sectors, including aerospace, automotive, and medical technology. In recent years, Etteplan has made several strategic acquisitions to enhance its expertise and capabilities in the factory automation space. Notably, they acquired LAE Engineering GmbH, which specializes in electrical planning and industrial automation, in July 2023, marking a significant expansion in their industrial automation offerings. Additionally, their acquisition of BST Buck Systemtechnik GmbH in September 2021 and Syncore Technologies AB in February 2022 further demonstrates their commitment to enhancing their project business and capabilities in automation and embedded systems. These transactions highlight Etteplan's focus on improving efficiency and sustainability in industrial operations, making them a relevant player in the factory automation industry.

8. Caverion

• Website: caverion.com
• Type: Corporate
• Headquarters: Vantaa, Uusimaa, Finland
• Founded year: 1912
• Headcount: 10001+
• LinkedIn: caverion

Caverion is a technical service company based in Vantaa, Uusimaa, Finland, specializing in building performance, maintenance, and lifecycle management. Founded in 1912, Caverion has grown to employ over 10,000 people and offers a wide range of services, including technical installations, project management, and smart solutions for businesses in the construction and real estate sectors. In recent years, Caverion has made significant acquisitions to enhance its position in the factory automation industry. Notably, they acquired 80% of DI-Teknik A/S, a leading industrial automation company in Denmark, which reported revenues of EUR 27.8 million in 2020/21 from automation services. Additionally, their acquisition of GTS Immobilien GmbH, a building automation provider in Austria, aligns with their strategy to leverage smart technologies. These transactions reflect Caverion's commitment to enhancing efficiency and sustainability in built environments through automation solutions.

9. NIBE Industrier AB

• Website: nibe.se
• Type: Corporate
• Headquarters: Markaryd, Kronoberg, Sweden
• Founded year: 1952
• Headcount: 5001-10000
• LinkedIn: nibe-ab

NIBE Industrier AB is a corporate investor based in Markaryd, Kronoberg, Sweden, specializing in energy-efficient heating and cooling solutions. Founded in 1952, NIBE operates primarily in the energy sector, focusing on sustainable solutions for homeowners and property managers. In recent years, NIBE has expanded its portfolio through strategic acquisitions that enhance its capabilities in industrial automation and electronics. Notably, NIBE acquired Eltwin A/S, a company specializing in industrial electronics, which operates in Denmark and Poland, indicating a commitment to integrating automation technologies into their offerings. Additionally, their acquisition of LS Control A/S, a Danish company, further emphasizes their interest in automation solutions. These transactions highlight NIBE's strategy to diversify its operations and strengthen its position in the factory automation industry, alongside its core focus on energy solutions.

10. 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 venture capital fund based in Stockholm, Sweden, founded in 1979. The firm specializes in investing in early-stage companies, particularly in the fields of Deep Tech, Life Science, and Transformative Tech. They provide financial support and strategic guidance to startups, helping them scale their innovative solutions. Notably, Industrifonden has been involved in several transactions relevant to the factory automation sector. For instance, they co-led a €3 million Series A funding round for Viking Analytics, a startup focused on predictive maintenance, which is essential for optimizing factory operations. Additionally, they participated in funding for Crosser, a company developing a low-code streaming analytics platform for Industrial IoT, aimed at enhancing automation processes in industrial settings. These investments highlight Industrifonden's focus on creating long-term value through partnerships with passionate founders in the technology space, particularly those that contribute to advancements in factory automation.

11. Butterfly Ventures

• Website: butterfly.vc
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2012
• Headcount: 1-10
• Number of deals in 2024: 5
• LinkedIn: butterfly-ventures

Butterfly Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2012. The firm specializes in seed stage investments in deep tech startups, providing both capital and strategic support to help early-stage companies navigate growth and market entry challenges. Butterfly Ventures emphasizes social and environmental impact in its investment strategy. Notably, they have invested in Intelecy, which raised over $1.1 million in 2022, focusing on data analytics for industrial applications, which is relevant to factory automation. Additionally, they have supported other startups like Sapotech and Augumenta, which may also have applications in industrial settings, although specific details on their relevance to factory automation are less clear.

12. Chalmers Ventures

• Website: chalmersventures.com
• Type: Venture Capital
• Headquarters: Sweden
• Founded year: 2015
• Headcount: 11-50
• Number of deals in 2024: 26
• LinkedIn: chalmers-ventures

Chalmers Ventures is a venture builder and tech investor based in Sweden, founded in 2015. They specialize in supporting researchers and entrepreneurs in commercializing deep tech innovations through various programs that provide business guidance, financing, and community networking. With a focus on active ownership, they help startups scale and succeed in the market. Notably, Chalmers Ventures has invested in LumenRadio, which specializes in wireless communication technology that can be utilized in factory automation systems, and ReVibe Energy, which develops energy solutions that could enhance operational efficiency in industrial settings. Their diverse portfolio indicates a commitment to fostering technological advancements that align with the evolving needs of industries, including factory automation.

13. Metso

• Website: metso.com
• Type: Corporate
• Headquarters: Espoo, Uusimaa, Finland
• Founded year: 2020
• Headcount: 10001+
• Number of deals in 2024: 2
• LinkedIn: metso

Metso Corporation is an industrial machinery company based in Espoo, Uusimaa, Finland, specializing in technology and services for the mining, aggregates, and oil and gas industries. Founded in 2020, Metso has quickly established itself as a significant player in the industrial sector, with over 10,000 employees and a global presence. The company provides a range of products, including machinery, spare parts, and lifecycle services, aimed at enhancing operational efficiency and sustainability for its business customers. Notably, Metso has been active in acquiring companies that bolster its capabilities in automation and control systems. For instance, in October 2023, Metso announced the acquisition of Tedd Engineering, a UK-based company specializing in automation solutions for mobile equipment, which is expected to enhance Metso's offerings in the aggregates sector. This acquisition, along with others focused on mining and maintenance services, demonstrates Metso's commitment to integrating advanced technologies into its operations, making it a relevant investor in the factory automation industry.

14. Addtech Customised Solution

• Website: addtech.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1906
• Headcount: 1001-5000
• Number of deals in 2024: 1
• LinkedIn: addtech-customised-solution

Addtech Customised Solution is a corporate investor based in Stockholm, Sweden, specializing in high-tech products and services for the manufacturing and infrastructure sectors. Founded in 1906, the company operates through a decentralized model with 150 independent group companies, focusing on sustainable growth and entrepreneurship. In recent years, Addtech has made significant strides in the factory automation industry through strategic acquisitions. Notably, they acquired AVT Industriteknik AB in May 2021, which is expected to positively impact their earnings. Additionally, in April 2023, they acquired Electrum Automation AB, further solidifying their presence in the automation sector. These transactions reflect Addtech's commitment to enhancing their portfolio in factory automation, making them a relevant player in this field.

15. Lagercrantz Group AB

• Website: lagercrantz.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2001
• Headcount: 1001-5000
• Number of deals in 2024: 6
• LinkedIn: lagercrantz

Lagercrantz Group AB is a corporate investor based in Stockholm, Sweden, founded in 2001. The company operates approximately 80 subsidiaries that provide specialized technical solutions across various niche markets. Their business model emphasizes both acquisitions and organic growth, primarily targeting business customers seeking tailored technology solutions. Notably, Lagercrantz has made significant acquisitions in the factory automation space, including the purchase of Nikodan Conveyor Systems A/S, which specializes in high-quality belt conveyors and product handling solutions. This acquisition, announced on December 29, 2015, highlights their commitment to enhancing their offerings in the factory automation sector. Additionally, they have acquired other companies such as MH Modules and Hovicon International B.V., further expanding their portfolio in related areas. These transactions demonstrate Lagercrantz's strategic focus on integrating automation technologies into their operations, making them a relevant player in the factory automation industry.

16. Investinor

• Website: investinor.no
• Type: Venture Capital
• Headquarters: Trondheim, Trøndelag, Norway
• Founded year: 2008
• Headcount: 11-50
• Number of deals in 2024: 4
• LinkedIn: investinor

Investinor AS is a venture capital investment company based in Trondheim, Trøndelag, Norway, founded in 2008. It specializes in providing funding to promising startups and companies, helping them grow and achieve market leadership. Investinor collaborates with entrepreneurs and other investors, managing state interests in seed and venture funds. Notably, Investinor has been involved in significant transactions such as funding Intelecy, which raised USD 3.5 million in 2023 and USD 10 million in 2018, focusing on AI solutions for industrial applications. This involvement highlights Investinor's commitment to supporting innovations in the factory automation sector, alongside its broader investment strategy.

Factory Automation Insights: Key Investors in the Nordics

Investor	Headquarter	Size	Founded	Deals 2024
Almi	Stockholm, Stockholm, Sweden	201-500	1994	7
Indutrade Life Science	Stockholm, Stockholm, Sweden	1001-5000	1978	14
Addtech AB	Stockholm, Stockholm, Sweden	1001-5000	1906	9
EQT Group	Stockholm, Stockholm, Sweden	1001-5000	1994	30
ASSA ABLOY Group	Stockholm, Stockholm, Sweden	10001+	1994	21
Indutrade AB	Stockholm, Stockholm, Sweden	5001-10000	1978	1
Etteplan	Espoo, Uusimaa, Finland	1001-5000	1983	3
Caverion	Vantaa, Uusimaa, Finland	10001+	1912	0
NIBE Industrier AB	Markaryd, Kronoberg, Sweden	5001-10000	1952	0
Industrifonden	Stockholm, Stockholm, Sweden	11-50	1979	9
Butterfly Ventures	Helsinki, Uusimaa, Finland	1-10	2012	5
Chalmers Ventures	Sweden	11-50	2015	26
Metso	Espoo, Uusimaa, Finland	10001+	2020	2
Addtech Customised Solution	Stockholm, Stockholm, Sweden	1001-5000	1906	1
Lagercrantz Group AB	Stockholm, Stockholm, Sweden	1001-5000	2001	6
Investinor	Trondheim, Trøndelag, Norway	11-50	2008	4

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