The air quality monitoring industry in the Nordics focuses on measuring and improving air quality across various environments. Companies operate in sectors like technology, environmental science, and engineering, delivering solutions such as air quality sensors, data analytics, and pollution control systems. As awareness of health impacts related to air quality rises, the demand for innovative monitoring solutions grows. New regulatory measures and sustainability goals drive companies to develop smarter technologies. Notably, advancements in IoT and AI are shaping how air quality data is collected and analyzed, paving the way for enhanced public health initiatives and smarter urban planning.

The list features a dynamic group of 17 investors in the air quality monitoring space based in the Nordics. This includes corporate giants like Indutrade Life Science and energy firms like Equinor. Collectively, these investors range in size from small ventures with under 50 employees to larger entities with over 10,000. Founded between the mid-19th century to recent years, these investors made numerous notable investments in 2024, reflecting strong interest in emerging technologies. By supporting innovation, they play a pivotal role in promoting air quality initiatives, addressing both environmental and health concerns.

Top 17 Air Quality Monitoring Investors in the Nordics

1. Katapult

• Website: katapult.vc
• Type: Venture Capital
• Headquarters: Oslo, Oslo, Norway
• Founded year: 2017
• Headcount: 11-50
• Number of deals in 2024: 8
• LinkedIn: katapult-accelerator

Katapult is an impact investment firm based in Oslo, Norway, founded in 2017. They focus on tech startups that address global challenges, particularly in climate-tech and ocean-tech sectors. Katapult provides investment, accelerator programs, and mentorship to early-stage companies seeking to scale their operations. Among their notable transactions, they participated in the funding of W•SENSE, an Italian IoT startup that raised €9 million in a Series A round, which may have applications in air quality monitoring. Additionally, they have invested in ClevAir, which raised $150,000 in a seed round, indicating their interest in innovative solutions that could potentially relate to air quality. Their diverse portfolio and focus on impactful technology make them a relevant player in the air quality monitoring space.

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 is 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 significant strides in the air quality monitoring sector by acquiring Palas GmbH, a German company specializing in high precision air particle measurement technology, for approximately €25 million in November 2022. This acquisition highlights Indutrade's commitment to enhancing its portfolio in the air quality monitoring industry. Additionally, the company has a history of acquiring other technology-focused firms, which may complement its air quality monitoring initiatives.

3. Equinor

• Website: equinor.com
• Type: Corporate
• Headquarters: Stavanger, Rogaland, Norway
• Founded year: 1972
• Headcount: 10001+
• Number of deals in 2024: 6
• LinkedIn: equinor

Equinor ASA is a public entity based in Stavanger, Norway, operating primarily in the energy sector with a focus on oil, gas, and renewable energy. Founded in 1972, the company has over 10,000 employees and is committed to sustainability, aiming to achieve net-zero emissions by 2050. Equinor Ventures, the company's investment arm, has been active in funding innovative companies that contribute to environmental sustainability. Notably, Equinor has invested in SeekOps, a company that specializes in methane emissions monitoring, and ContextLabs, which focuses on providing data solutions for decarbonization measurement and monitoring. These investments highlight Equinor's strategic interest in technologies that support air quality monitoring and environmental protection.

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 multiple sectors and geographies. Notably, EQT has made significant investments in companies related to air quality monitoring, such as the acquisition of Nederman, which focuses on workspace environment equipment essential for maintaining air quality. Additionally, EQT's investment in Desotec, a company known for its filtration and purification solutions, highlights their commitment to supporting businesses that contribute to improved air quality. These transactions demonstrate EQT's strategic interest in sectors that align with environmental sustainability and air quality management.

5. Swegon Group

• Website: swegon.com
• Type: Corporate
• Headquarters: Gothenburg, Västra Götaland, Sweden
• Founded year: 1961
• Headcount: 1001-5000
• Number of deals in 2024: 3
• LinkedIn: swegon-ab

Swegon Group, based in Gothenburg, Sweden, is a corporate investor specializing in indoor climate solutions. Founded in 1961, the company has established itself as a leader in the HVAC industry, offering a diverse range of products including air handling units, air purifiers, and climate management systems. Swegon serves a global clientele across various sectors that require efficient solutions for maintaining optimal indoor environments. In recent years, Swegon has made several strategic acquisitions to bolster its market presence and enhance its product offerings. Notable transactions include the acquisition of HOWATHERM in November 2024, which strengthens their portfolio in indoor climate technology, and the acquisition of HC Groep in July 2024, a Dutch firm with a significant focus on indoor climate solutions. These acquisitions align with Swegon's mission to improve air quality and indoor climate management, reinforcing their relevance in the air quality monitoring sector.

6. Lindab Group

• Website: lindab.com
• Type: Corporate
• Headquarters: Grevie, Skåne, Sweden
• Founded year: 1959
• Headcount: 1001-5000
• Number of deals in 2024: 6
• LinkedIn: lindab

Lindab Group, founded in 1959 and based in Grevie, Skåne, Sweden, is a corporate investor specializing in ventilation systems and building products. With a workforce of 1001-5000 employees, Lindab focuses on providing energy-efficient solutions for both residential and commercial properties. Their customer base includes construction companies and contractors who rely on their products for various building projects. In recent years, Lindab has made several strategic acquisitions to expand its capabilities in the air quality sector. Notably, in January 2024, they signed an agreement to acquire Airmaster, a leading Danish company in decentralized ventilation, with expectations of significant sales growth in this new product area. This acquisition, along with their previous transactions such as the acquisition of Disys Technologies in 2022 and KlimaSystem in 2014, highlights their commitment to enhancing indoor air quality and energy efficiency, making them a relevant player in the air quality monitoring industry.

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, Finland, specializing in seed stage investments in deep tech startups. Founded in 2012, the firm emphasizes social and environmental impact, providing capital and strategic support to early-stage companies. Among their notable transactions, Butterfly Ventures invested in Naava, a company recognized for its innovative green walls that improve indoor air quality, raising €7M in 2022. They also supported Asthmatuner, which raised $1.55M in 2020, focusing on asthma management, a health issue closely linked to air quality. Furthermore, their investment in 3AWater, a building technology company, indicates their interest in technologies that may contribute to environmental sustainability. Overall, Butterfly Ventures actively engages with its portfolio companies to foster innovation and success, particularly in areas that can enhance air quality and public health.

8. 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 deep tech innovations and support researchers and entrepreneurs in commercializing their technologies through various programs that provide business guidance, financing, and community networking. Chalmers Ventures emphasizes active ownership and investment in startups to help them scale and succeed in the market. Notably, they have invested in Adsorbi, a Gothenburg-based startup that has developed air purification materials. In 2023, they participated in a seed funding round for Adsorbi, which raised €360,000 to support research and sales in the air purification sector. This investment highlights their commitment to advancing technologies that can improve air quality, making them a relevant player in the air quality monitoring industry.

9. Munters

• Website: munters.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1955
• Headcount: 1001-5000
• Number of deals in 2024: 4
• LinkedIn: munters

Munters is a climate control solutions provider based in Stockholm, Sweden, specializing in energy-efficient products for industrial and agricultural applications. Founded in 1955, the company has a workforce of 1001-5000 employees and has made significant strides in enhancing its Clean Technology portfolio. In 2024, Munters announced the acquisition of Airprotech srl, an Italian manufacturer of VOC abatement systems, which is expected to bolster their offerings in air quality management. Additionally, their acquisition of Zeco Aircon Limited in 2023 aims to enhance their dehumidification solutions in the Indian market, further demonstrating their focus on air quality. Munters has also acquired Reventa, a company specializing in climate control systems for livestock buildings, which indirectly contributes to air quality by ensuring optimal conditions in agricultural settings. Overall, Munters is actively expanding its footprint in the air quality monitoring sector through strategic acquisitions and product offerings.

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 participated in funding rounds for companies like Airsonett, which raised $1,971,414 in July 2022, focusing on air quality solutions. They also invested in NuvoAir, which raised $12 million in a Series A funding round in June 2021, aimed at expanding digital care platforms that could include air quality monitoring applications. Additionally, their investment in Viking Analytics, a predictive maintenance startup, indicates a broader interest in technologies that may relate to environmental monitoring. Through these investments, Industrifonden aims to create long-term value by partnering with passionate founders in transformative sectors.

11. Nederman

• Website: nederman.com
• Type: Corporate
• Headquarters: Helsingborg, Skåne, Sweden
• Founded year: 1944
• Headcount: 1001-5000
• LinkedIn: nederman

Nederman is a corporate investor based in Helsingborg, Skåne, Sweden, founded in 1944. The company specializes in industrial air filtration solutions, focusing on dust, smoke, and fume extraction across various industries, including manufacturing and woodworking. Nederman's product offerings include extraction units, filtration systems, and monitoring solutions aimed at improving workplace safety and environmental sustainability. Notably, Nederman has made significant acquisitions to bolster its air quality monitoring capabilities, including Gasmet Technologies Oy, a leader in FTIR gas analysis solutions, and NEO Monitors AS, which specializes in gas and dust analyzers. These strategic moves enhance Nederman's Monitoring & Control Technology division, allowing for the integration of advanced monitoring technologies into their existing product lines.

12. Beijer Ref

• Website: beijerref.com
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1866
• Headcount: 5001-10000
• Number of deals in 2024: 6
• LinkedIn: beijerref

Beijer Ref AB, founded in 1866 and based in Stockholm, Sweden, is a prominent wholesaler and manufacturer specializing in refrigeration and HVAC solutions. The company provides a diverse range of products, including refrigeration systems, air conditioning solutions, and heat pumps, primarily serving installers and businesses in the food retail and commercial sectors. With a strong focus on environmentally friendly technologies, Beijer Ref operates through a vast network of subsidiaries and branches across multiple regions. In recent years, Beijer Ref has made several strategic acquisitions to enhance its position in the HVAC market, including the acquisition of Armcor Air Solutions, which focuses on climate and ventilation solutions, and Inventor A.G. S.A., an air conditioning company that allows Beijer Ref to expand into the Greek market. Additionally, their acquisition of GIA Group, a leading air conditioning company in Spain, further strengthens their HVAC segment. These transactions highlight Beijer Ref's commitment to improving air quality through advanced HVAC technologies, making them a relevant player in the air quality monitoring industry.

13. Alder

• Website: alder.se
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2008
• Headcount: 11-50
• Number of deals in 2024: 1
• LinkedIn: alderfund

Alder is a private equity investment fund based in Stockholm, Sweden, founded in 2008. The firm specializes in sustainable technology companies, providing growth and buyout capital to established firms with a turnover of SEK 100-750 million. Alder aims to create value by leveraging its industrial and financial expertise to support the long-term development of its portfolio companies. Notably, Alder has made significant investments in the air quality monitoring sector, including the acquisition of Gasmet Technologies Oy in April 2015, a leading manufacturer of gas monitoring equipment. This acquisition reflects Alder's commitment to supporting growth in the environmental technology sector. Additionally, Alder has invested in other companies like Centriair, which also operates in the air quality management space, further demonstrating their focus on sustainable and environmentally relevant technologies.

14. Systemair Group

• Website: systemair.com
• Type: Corporate
• Headquarters: Skinnskatteberg, Västmanland, Sweden
• Founded year: 1974
• Headcount: 5001-10000
• LinkedIn: systemair

Systemair Group, founded in 1974 and based in Skinnskatteberg, Sweden, is a corporate investor specializing in HVAC solutions. With a workforce of 5001-10000 employees, the company offers a diverse range of products including fans, air handling units, and air conditioning systems, catering to various industries such as healthcare, education, and hospitality. Systemair has made strategic acquisitions to bolster its capabilities in air quality management, notably acquiring SagiCofim S.p.A. in 2022, which enhances their product offerings in air filtration and distribution, particularly for healthcare and pharmaceutical applications. Other significant acquisitions include Greentek, Koolair, and Pacific Ventilation, which further strengthen their market position and product range in air handling and distribution, essential for maintaining air quality. Systemair's commitment to sustainability and energy efficiency underscores their role in promoting better air quality solutions.

15. 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 corporate investor based in Stockholm, Sweden, founded in 1906. The company specializes in providing high-tech products and services across various sectors, including automation, electrification, energy, industrial solutions, and process technology. Addtech serves OEM manufacturers and end-users, helping them enhance operational efficiency and sustainability through innovative solutions. Notably, in 2024, Addtech acquired Analytical Solutions and Products B.V. (ASaP) to strengthen its offerings in emission control solutions, which is directly relevant to air quality monitoring. Additionally, their acquisition of TLS Energimätning and other companies in the process technology sector further demonstrates their commitment to sustainability and efficiency, which are critical in the context of air quality management.

16. SEB Kort

• Website: seb.se
• Type: Corporate
• Headquarters: Solna, Stockholm, Sweden
• Founded year: 1855
• Headcount: 501-1000
• Number of deals in 2024: 1
• LinkedIn: seb-kort

SEB Kort, part of Skandinaviska Enskilda Banken AB (SEB), is a corporate investor based in Solna, Stockholm, Sweden. Founded in 1855, SEB is a prominent financial institution offering a wide range of banking and financial services, including personal and corporate loans, investment management, and insurance products. In recent years, SEB Kort has engaged in several notable transactions that highlight their interest in environmental and air quality-related technologies. Notably, they invested in Airsonett, which raised funds in both 2014 and 2022, focusing on solutions that improve air quality. Additionally, SEB Kort participated in funding rounds for ClimateView, a start-up dedicated to climate action and investment planning, indicating their broader commitment to environmental sustainability. These investments reflect SEB Kort's strategic interest in supporting innovations that contribute to better air quality and climate resilience.

17. Innovestor

• Website: innovestorgroup.com
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2014
• Headcount: 11-50
• Number of deals in 2024: 12
• LinkedIn: innovestor

Innovestor is an investment management company based in Helsinki, Finland, specializing in venture capital, real estate, and energy storage. Founded in 2014, Innovestor provides funding and support to early-stage startups and corporations, particularly in technology and life sciences. They offer services such as investment advice, corporate venturing, and participation in accelerator programs. Innovestor has been involved in several relevant transactions, including a recent seed funding round for Kausal, a climate software company focused on environmental solutions, and a venture round for Sensmet, which is likely engaged in sensor technology that could be applicable to air quality monitoring. Their investment strategy indicates a willingness to support innovations that address climate and environmental challenges.

Air Quality Monitoring Insights: Key Investors in the Nordics

Investor	Headquarter	Size	Founded	Deals 2024
Katapult	Oslo, Oslo, Norway	11-50	2017	8
Indutrade Life Science	Stockholm, Stockholm, Sweden	1001-5000	1978	14
Equinor	Stavanger, Rogaland, Norway	10001+	1972	6
EQT Group	Stockholm, Stockholm, Sweden	1001-5000	1994	30
Swegon Group	Gothenburg, Västra Götaland, Sweden	1001-5000	1961	3
Lindab Group	Grevie, Skåne, Sweden	1001-5000	1959	6
Butterfly Ventures	Helsinki, Uusimaa, Finland	1-10	2012	5
Chalmers Ventures	Sweden	11-50	2015	26
Munters	Stockholm, Stockholm, Sweden	1001-5000	1955	4
Industrifonden	Stockholm, Stockholm, Sweden	11-50	1979	9
Nederman	Helsingborg, Skåne, Sweden	1001-5000	1944	0
Beijer Ref	Stockholm, Stockholm, Sweden	5001-10000	1866	6
Alder	Stockholm, Stockholm, Sweden	11-50	2008	1
Systemair Group	Skinnskatteberg, Västmanland, Sweden	5001-10000	1974	0
Addtech AB	Stockholm, Stockholm, Sweden	1001-5000	1906	9
SEB Kort	Solna, Stockholm, Sweden	501-1000	1855	1
Innovestor	Helsinki, Uusimaa, Finland	11-50	2014	12

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