The smart home devices industry in the Nordics is vibrant, characterized by technological innovation and a focus on sustainability. Companies in this sector offer products like smart lighting, security systems, and energy management tools, enhancing convenience and efficiency in everyday life. With increased consumer interest in interconnected living, the industry is moving toward seamless integration of artificial intelligence and Internet of Things (IoT) technologies. Notably, impressive investments are accelerating research and development, positioning Nordic companies at the forefront of global trends, such as eco-friendly designs and energy-saving solutions that cater to consumer demand for smarter, greener homes.

The investors featured in this list exemplify the Nordic investment scene, representing a mix of venture capital and private equity firms. Headquartered across key cities like Stockholm, Oslo, and Helsinki, these firms vary widely in size—from small teams with fewer than ten employees to large organizations with thousands. Founded between 1865 and 2015, many have shown a strong commitment to the smart home devices sector, with several reporting multiple investments in 2024. Noteworthy investors include Almi, focusing on sustainable solutions, and Vertane, known for its support of tech-driven growth.

Top 16 Smart Home Devices 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, aiming to enhance their growth and competitiveness through tailored financial solutions. Among its notable transactions, Almi has invested in LumenRadio, a company known for its wireless communication technology, which is applicable in smart home devices. Additionally, Almi has participated in funding rounds for other startups like EasyServ, Peafowl Plasmonics, and Vevios, although these companies are less directly related to smart home technology. Overall, while Almi's primary focus is not exclusively on smart home devices, its investment in relevant technology companies suggests a potential interest in the sector.

2. 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, founded in 1994 and headquartered in Stockholm, Sweden, is a leading provider of security solutions, specializing in locks, doors, gates, and entrance automation. With a workforce of over 10,000 employees, the company has established itself as a leader in the security industry through innovation and a diverse product portfolio. In recent years, ASSA ABLOY has made significant strides in the smart home devices market by acquiring companies that enhance its technology offerings. Notable transactions include the acquisition of August Home, a US-based smart lock maker, which was announced in October 2017, and Level Lock, a technology solutions company, acquired in September 2024. Additionally, the acquisition of Bird Home Automation GmbH (DoorBird) in October 2022 further solidifies ASSA ABLOY's position in the smart home automation space. These strategic acquisitions reflect ASSA ABLOY's focus on integrating advanced technology into its product offerings, making it a relevant player in the smart home devices industry.

3. 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 managing diverse investment portfolios across various sectors and geographies. Among its notable transactions, EQT acquired Verisure Securitas Direct in 2008, a leading provider of security systems, which aligns with the smart home devices market. This acquisition highlights EQT's engagement in the security aspect of smart home technology. Additionally, EQT's recent acquisition of Calisen in 2024, while not directly related to smart home devices, indicates their active investment strategy. Overall, EQT's focus on long-term investments and impact, as seen in their acquisition of Anticimex AB, showcases their commitment to sectors that may intersect with smart home technologies, particularly in enhancing home safety and security.

4. Verdane

• Website: verdane.com
• Type: Private Equity
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1985
• Headcount: 51-200
• Number of deals in 2024: 7
• LinkedIn: verdane-capital

Verdane is a private equity investment firm based in Oslo, Norway, founded in 1985. They specialize in growth equity investments in technology-enabled companies, providing capital and hands-on support to help businesses scale. Verdane focuses on digitalization and decarbonization trends, primarily targeting technology companies looking to enhance their market position and operational efficiency. Notable transactions include their investment in Novelda, which specializes in smart sensors, and Onomondo, an IoT company, both of which are relevant to the smart home devices sector. Additionally, their investment in asgoodasnew, a leader in high-tech consumer electronics re-commerce, further demonstrates their engagement with technology-driven markets.

5. 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 manages state interests in seed and venture funds and collaborates with entrepreneurs and other investors. Among its notable transactions, Investinor has invested in Novelda, which raised $12 million in Series B funding in December 2016, focusing on the commercialization of smart sensors, a key component in smart home technology. Additionally, it participated in earlier funding rounds for Novelda, including a $12 million Series A round in December 2014. These investments highlight Investinor's engagement in the smart home devices sector, particularly through its support of companies developing innovative sensor technologies.

6. 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 Denmark. While their primary focus has been on sectors such as SaaS and Fintech, they have also invested in companies relevant to the smart home devices industry. Notable transactions include Sensorist, which raised funds in 2013 and is involved in sensor technology applicable to smart homes, and Braci, which secured investment in 2016 to develop smart solutions for the hearing impaired. These investments demonstrate Seed Capital's interest in technology that enhances home living, making them a potential player in the smart home devices market.

7. 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, actively engaging with portfolio companies to foster innovation and success. Notable transactions include investments in OptiWatti Oy, Cleac, and Fourdeg, which, while not explicitly smart home devices, indicate a focus on technology and innovation. Their investment in Naava, a leader in green walls, highlights their interest in sustainable solutions that can enhance smart home environments. This diverse portfolio reflects their commitment to supporting innovative technologies that may intersect with the smart home devices sector.

8. Kinnevik

• Website: kinnevik.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1936
• Headcount: 11-50
• Number of deals in 2024: 10
• LinkedIn: investment-ab-kinnevik

Kinnevik is an investment company based in Stockholm, Sweden, founded in 1936. They partner with innovative entrepreneurs across various sectors, including healthcare, software, marketplaces, and climate tech. Kinnevik provides both capital and operational support to help these companies scale and create long-term value. In 2024, Kinnevik participated in significant funding rounds for Aira, a company focused on electrifying residential heating, raising substantial amounts in Series A and Series B funding. This investment is particularly relevant to the smart home devices industry as it aims to enhance energy efficiency in homes, aligning with the growing trend of smart home technologies. Kinnevik's strategic investments reflect their commitment to redefining industries and addressing global challenges, positioning them as a potential investor in the smart home devices market.

9. 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 focus on deep tech innovations and support researchers and entrepreneurs in commercializing their technology through various programs. Their model emphasizes active ownership and investment in startups, helping them scale and succeed in the market. Notable transactions include investments in LumenRadio, which raised funds for its wireless communication technology, potentially applicable in smart home devices, and Epishine, which focuses on solar energy solutions that could enhance smart home functionalities. Their diverse portfolio and commitment to fostering innovation make them a significant player in the tech investment landscape.

10. Nokia

• Website: nokia.com
• Type: Corporate
• Headquarters: Espoo, Uusimaa, Finland
• Founded year: 1865
• Headcount: 10001+
• Number of deals in 2024: 3
• LinkedIn: nokia

Nokia Corporation, founded in 1865 and based in Espoo, Uusimaa, Finland, is a leading telecommunications and technology solutions provider specializing in networking technology and digital transformation. With a workforce of over 10,000 employees, Nokia offers a diverse range of products and services, including cloud infrastructure, mobile networks, and security solutions, primarily targeting businesses and organizations across various industries. Notably, Nokia's acquisition of Withings in April 2016 for €170 million marked a significant move into the digital health market, enhancing its position in the Internet of Things (IoT) sector. This acquisition reflects Nokia's commitment to expanding its portfolio to include smart home devices, particularly those related to health and wellness. Additionally, Nokia has engaged in other transactions, such as acquiring Medio Systems to enhance its location services, which could also play a role in smart home applications. Overall, Nokia's strategic investments indicate a growing interest in the smart home devices market.

11. 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 based 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 improving user experiences through reliable and high-speed connectivity. In recent years, Ericsson has made strategic investments in companies relevant to the smart home devices industry. Notably, they participated in the Series B funding for SAM Seamless Network, which focuses on network security for smart devices. They also invested in Balena, a company that provides tools for developing and managing IoT applications, which is crucial for smart home technology. Furthermore, their investment in Everactive, a technology company involved in IoT solutions, highlights their commitment to advancing the smart home ecosystem. These transactions demonstrate Ericsson's active role in the smart home devices sector, making them a relevant investor in this category.

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 entrepreneurs across various sectors. Lifeline Ventures focuses on supporting resilient founders from the inception of their ventures. Notable transactions include investments in HumanCharger, a health technology startup, and Synergi, which raised funds for product development. Their investment in Oura, a health and wellness company, further demonstrates their interest in technology-driven solutions that could intersect with smart home devices, indicating a broader interest in innovative technologies that enhance daily living.

13. 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 invested in Enode, which raised $2.2 million in a seed round in 2021, focusing on energy management solutions that can be integral to smart home systems. They also participated in the Series A funding of 1X, which raised $23.5 million in 2023, indicating their active role in supporting innovative tech ventures. Their investment strategy emphasizes fostering innovation within the tech sector, which aligns with the evolving landscape of smart home devices.

14. Altor Equity Partners

• Website: altor.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2003
• Headcount: 51-200
• Number of deals in 2024: 6
• LinkedIn: altor

Altor Equity Partners is a private equity investment management firm based in Stockholm, Sweden, founded in 2003. The firm specializes in providing consulting services across various sectors, including technology and consumer products, with a focus on enhancing operational efficiency and sustainable growth for its partners. Altor has been involved in notable transactions in the smart home devices context, such as acquiring a majority stake in Aarke, a Swedish home appliance maker known for its innovative home carbonation products. This acquisition highlights Altor's commitment to investing in the home appliance market. Additionally, Altor led a significant funding round for Aira, a company focused on the electrification of residential heating, which is crucial for modern smart home solutions aimed at energy efficiency. These investments reflect Altor's strategic interest in the smart home devices industry and its potential for growth.

15. Nordic Capital

• Website: nordiccapital.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1989
• Headcount: 201-500
• Number of deals in 2024: 10
• LinkedIn: nordic-capital

Nordic Capital is a private equity firm based in Stockholm, Sweden, founded in 1989. The firm specializes in investments across various sectors, including healthcare and technology, and is known for partnering with management teams to drive growth and operational improvements in its portfolio companies. Nordic Capital has a strong focus on creating long-term value and sustainability in its investments. Notably, they have made significant transactions in the smart home devices context, such as the acquisition of Sensio, a company specializing in monitoring technology, which is expected to enhance their portfolio in the smart home sector. Additionally, their investment in iLOQ, which focuses on digital locking solutions, further demonstrates their engagement in the smart home technology space. These transactions highlight Nordic Capital's commitment to investing in innovative technologies that align with the growing demand for smart home solutions.

16. 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 participated in significant transactions such as Enode, which raised $15M to develop digital infrastructure for sustainable energy, and Mavenoid, which automates technical support for hardware companies, raising a total of $30 million in a Series B round. These investments highlight Creandum's engagement with technology that could be relevant to the smart home devices industry, particularly in areas like energy management and hardware support.

Smart Home Devices Insights: Key Investors in the Nordics

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