The satellite communication industry in the Nordics is booming, driven by innovative companies that provide connectivity solutions across various sectors. From established firms to emerging startups, this industry features enterprises specializing in satellite technology, hardware, and infrastructure. Companies engage in sectors ranging from maritime and defense to telecommunication and remote sensing, creating essential networks that facilitate global communication. Recently, the industry has been leaning towards small satellite solutions to address growing demand for broadband services, with significant interest in sustainability and IoT applications. This promising trajectory reflects the Nordics' commitment to shaping the future of communication.


This article highlights 17 prominent investors in the Nordic satellite communication sector. The investors range from venture capital firms like Lifeline Ventures to corporate giants like Telenor, with headquarters in cities such as Stockholm, Helsinki, and Copenhagen. Founded between 1814 and 2019, these firms vary in size, from small teams to multinational corporations. In 2024, these investors collectively participated in numerous deals, emphasizing their commitment to advancing satellite communication technologies and fostering innovation in the region.


Top 17 Satellite Communication Investors in the Nordics


1. 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. Notably, EQT has made significant investments in the communication infrastructure space, including the acquisition of Tampnet, a Norwegian offshore broadband operator known for its high-capacity communication network, and IslaLink, which operates submarine fiber-optic cables in Spain. These transactions highlight EQT's commitment to enhancing communication capabilities, positioning it as a relevant investor in the satellite communication sector.


2. 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. Almi has been involved in several transactions relevant to the satellite communication sector, including investments in Forsway, a company focused on satellite communication solutions, and Maven Wireless, which raised over $1.9 million to develop wireless technologies. Additionally, Almi participated in the funding of TeraSi, a startup working on high-frequency wireless applications, which may have implications for satellite communication technologies. These investments reflect Almi's engagement in sectors that intersect with satellite communications, showcasing its role as a venture capital investor in this space.


3. Telenor

  • Website: telenor.com
  • Type: Corporate
  • Headquarters: Fornebu, Akershus, Norway
  • Founded year: 1855
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: telenor-group

Telenor ASA is a telecommunications company based in Fornebu, Akershus, Norway, founded in 1855. With a customer base of 209 million subscribers, Telenor provides mobile telecommunications, broadband, and TV distribution services, primarily in Scandinavia and Asia. The company is dedicated to empowering societies through connectivity and is committed to responsible business practices and innovation in telecommunications. Telenor has made significant acquisitions in the satellite communication sector, including COMSAT in 2001 and Maritime Communication Partner in 2006, which enhance its capabilities in satellite services. Additionally, Telenor's acquisition of KNL Networks in 2020 through its subsidiary Telenor Maritime further emphasizes its focus on smart IoT services, which often rely on satellite communication technologies. These transactions highlight Telenor's strategic interest in the satellite communication industry, complementing its broader telecommunications operations.


4. 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 notable transactions in the satellite communication sector, including a Seed funding round for ReOrbit, a Helsinki-based provider of software-enabled satellites, where they participated alongside other investors to raise $7.4M in August 2023. Additionally, they led a pre-seed funding round for Spaceit, an Estonian space startup, raising €1 million in August 2021. These investments highlight Icebreaker.vc's active role in supporting innovative companies within the satellite communication industry, alongside their broader focus on technology startups.


5. 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 actively involved in the satellite communication sector, leading a seed funding round for ReOrbit, a provider of software-enabled satellites, which raised $7.4M in August 2023. Additionally, they participated in a €2.1M seed funding round for Value.Space, a UK-based startup specializing in satellite insurance technology, announced in May 2023. These investments highlight Inventure's commitment to supporting innovative companies within the satellite communication industry, alongside their broader focus on technology startups.


6. Business Finland

  • Website: businessfinland.fi
  • Type: Corporate
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2018
  • Headcount: 501-1000
  • Number of deals in 2024: 26
  • LinkedIn: business-finland

Business Finland is a public entity established to support Finnish companies in their growth and internationalization efforts. Founded in 2018, it provides funding, consulting services, and market opportunities to help businesses innovate and succeed in global markets. Notably, Business Finland has been involved in significant transactions within the satellite communication sector, including investments in ICEYE, a company that raised over $24 million through debt financing and Series A funding to develop its satellite technology. Additionally, they have supported Kuva Space, which focuses on satellite imagery, through grants. These transactions highlight Business Finland's role in promoting technological advancements in satellite communications while also contributing to the overall growth of Finnish businesses.


7. 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. Notably, Lifeline Ventures has made significant investments in the satellite communication industry, including a $13 million Series A investment in ICEYE, a leader in satellite technology, and a $2.8 million Series A investment in the same company in 2015. Additionally, they participated in a recent seed round for NewOrbit Space, raising $7.5 million in December 2023. These transactions highlight Lifeline Ventures' commitment to supporting innovative startups in the satellite communication space, alongside their broader investment strategy.


8. 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 and focuses on building long-term relationships with entrepreneurs to support their business journeys. In 2024, Heartcore Capital has been actively involved in the satellite communication sector, notably investing in Skynopy, a Paris-based space startup that raised $3.1 million to enhance its ground station offerings. Additionally, Heartcore has participated in multiple funding rounds for Orbex Space, a UK-based launch startup, contributing to their Series B and Series C rounds, which raised significant capital to scale their launch capabilities. These transactions highlight Heartcore's commitment to supporting innovative companies in the satellite communication and space industry.


9. Kongsberg Maritime

  • Website: kongsberg.com
  • Type: Corporate
  • Headquarters: Kongsberg, Buskerud, Norway
  • Founded year: 1814
  • Headcount: 5001-10000
  • Number of deals in 2024: 1
  • LinkedIn: kongsberg-maritime

Kongsberg Maritime, part of Kongsberg Gruppen, is a technology provider founded in 1814, specializing in advanced solutions across defence, aerospace, maritime, and digital sectors. With a workforce of 5001-10000, Kongsberg operates globally, focusing on sustainable practices and collaboration with stakeholders. Notably, Kongsberg Defence & Aerospace has made significant strides in the satellite communication sector by acquiring a 78% stake in NanoAvionics, a Lithuanian small satellite manufacturer, for an enterprise value of EUR 65 million. This acquisition, announced in September 2022, aims to enhance KONGSBERG's space offerings and expand its capabilities in the small satellite sector. Additionally, Kongsberg has shown interest in the broader space industry by participating in funding rounds for companies like SpinLaunch, which raised $12 million in Series C funding in April 2025. These transactions highlight Kongsberg's commitment to advancing its position in the satellite communication landscape.


10. Springvest Oyj

  • Website: springvest.fi
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2012
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: springvest

Springvest Oyj is a venture capital investment service company based in Helsinki, Uusimaa, Finland, founded in 2012. They specialize in connecting investors with promising Finnish growth companies, facilitating funding rounds, and providing investment management services. In 2023, Springvest was involved in a significant funding round for Kuva Space, which raised €16.6M to advance its patented hyperspectral camera and space technology, indicating a focus on satellite communication and related technologies. Additionally, they have previously invested in Ukkoverkot, although the details of that investment are less relevant to the satellite communication context. Overall, Springvest aims to help both individual and institutional investors diversify their portfolios and achieve high returns, with a growing interest in the satellite communication sector.


11. Voima Ventures

  • Website: voimaventures.com
  • Type: Venture Capital
  • Headquarters: Helsinki, Uusimaa, Finland
  • Founded year: 2019
  • Headcount: 11-50
  • Number of deals in 2024: 11
  • LinkedIn: voima-ventures

Voima Ventures is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2019. The firm specializes in funding early-stage science-based innovations and deep tech ventures, providing capital and expertise to help startups scale their solutions for global challenges. Voima Ventures operates primarily in the Nordic and Baltic regions and has been involved in various sectors, including life sciences and advanced manufacturing. Notably, they have invested in Kuva Space, a Finnish company that raised €16.6M in a Series A funding round to advance its patented hyperspectral camera and space technology. Additionally, they participated in earlier funding rounds for Kuva Space, including a seed funding round aimed at establishing a constellation of commercial hyperspectral cubesats. This involvement highlights Voima Ventures' commitment to supporting innovations in satellite technology and communication. They also invested in Skyfora, which further indicates their interest in companies that may have applications in satellite communications.


12. Handelsbanken i Sverige


Svenska Handelsbanken AB, founded in 1871 and based in Stockholm, Sweden, is a prominent corporate bank that offers a comprehensive range of financial services, including loans, savings accounts, investment funds, and financial advice. The bank serves both individual consumers and businesses, focusing on tailored solutions to meet diverse financial needs. In 2023, Handelsbanken was involved in a notable transaction with Ovzon AB, a company specializing in satellite communication. They participated in a directed share issue that raised approximately SEK 200 million to support Ovzon's satellite project, specifically to address increased project costs and enhance financial flexibility. This involvement highlights Handelsbanken's engagement in the satellite communication sector, reinforcing its role as a relevant investor in this industry.


13. Solix

  • Website: solixgroup.com
  • Type: Private Equity
  • Headquarters: Copenhagen, Denmark
  • Founded year: 2014
  • Headcount: 11-50
  • LinkedIn: solixx

Solix is a private equity investment company based in Copenhagen, Denmark, founded in 2014. The firm specializes in acquiring and developing businesses in Northern Europe, particularly in Denmark and Sweden, with a focus on creating long-term value for stakeholders through investments in B2B manufacturing and services. In April 2025, Solix announced the acquisition of Cobham Satcom, a significant player in the satellite communication industry. This acquisition is expected to enhance Cobham Satcom's growth in the government, defense, and maritime sectors, showcasing Solix's strategic interest in the satellite communication market. By providing capital and strategic guidance, Solix aims to help its portfolio companies achieve market leadership, including those in the satellite communication space.


14. Walerud Ventures

  • Website: walerud.com
  • Type: Venture Capital
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2002
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: walerud-ventures

Walerud Ventures is a venture capital firm based in Stockholm, Sweden, founded in 2002. The firm focuses on investing in Nordic deep tech startups that contribute to sustainability and innovation. They actively support their portfolio companies in areas such as green technology, advanced materials, and IoT solutions, providing both funding and strategic guidance to help these businesses thrive. Notably, Walerud Ventures invested in Satcube, which raised $1,229,198 in a seed round on April 1, 2016. Satcube is involved in satellite communication, specifically providing portable satellite terminals, which aligns with Walerud Ventures' interest in innovative technology solutions. This transaction highlights their engagement in the satellite communication sector, showcasing their capability to invest in relevant technologies.


15. Epiroc Construction Tools


Epiroc Construction Tools is a corporate investor based in Kalmar, Sweden, specializing in mining and construction equipment. Founded in 2018, the company offers a range of products including drill rigs and rock excavation tools, alongside services such as maintenance and digital solutions. Epiroc aims to enhance productivity and safety in the mining and construction sectors through innovative technology. Notably, Epiroc has made strategic acquisitions to expand its capabilities in communication technologies, including the acquisition of Radlink Communications in September 2022, which focuses on wireless data and voice communication networks for mining operations. This acquisition highlights Epiroc's interest in enhancing communication solutions within its operational domain. Additionally, Epiroc acquired Yieldpoint in May 2024, further indicating its commitment to integrating advanced technologies that may include communication solutions relevant to satellite operations.


16. Trill Impact

  • Website: trillimpact.com
  • Type: Private Equity
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 2019
  • Headcount: 51-200
  • Number of deals in 2024: 1
  • LinkedIn: trill-impact

Trill Impact is an impact investment firm based in Stockholm, Sweden, specializing in private equity, ventures, and microfinance. Founded in 2019, the firm is dedicated to creating measurable social and environmental impact alongside competitive financial returns. Trill Impact's clients include institutional investors and businesses seeking to invest in initiatives that align capital with positive change. One of their notable transactions includes leading a $50 million Series B funding round for Open Cosmos, a UK-based satellite mission management provider. This investment highlights Trill Impact's commitment to supporting innovative solutions in the satellite communication industry, particularly those that address pressing global challenges such as climate change and resource stewardship.


17. Nordic Foodtech VC


Nordic Foodtech VC is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2019. The firm specializes in early-stage investments in deep foodtech innovations aimed at transforming the food system through sustainable and health-oriented technologies. While their primary focus is on the food technology sector in the Nordics and Baltics, they have also shown interest in satellite communication through their investments in Kuva Space. Notably, they participated in a €16.6M Series A funding round and a €4.2M seed funding round for Kuva Space, which is developing a constellation of commercial hyperspectral cubesats and advanced space technology. This involvement highlights their willingness to invest in innovative technologies that extend beyond their core focus area.



Satellite Communication Insights: Key Investors in the Nordics


InvestorHeadquarterSizeFoundedDeals 2024
EQT GroupStockholm, Stockholm, Sweden1001-5000199430
AlmiStockholm, Stockholm, Sweden201-50019947
TelenorFornebu, Akershus, Norway10001+18552
Icebreaker.vcHelsinki, Uusimaa, Finland11-5020167
InventureHelsinki, Uusimaa, Finland11-5020059
Business FinlandHelsinki, Uusimaa, Finland501-1000201826
Lifeline VenturesHelsinki, Uusimaa, Finland1-10200914
Heartcore CapitalCopenhagen, Denmark11-50200717
Kongsberg MaritimeKongsberg, Buskerud, Norway5001-1000018141
Springvest OyjHelsinki, Uusimaa, Finland11-5020123
Voima VenturesHelsinki, Uusimaa, Finland11-50201911
Handelsbanken i SverigeStockholm, Stockholm, Sweden10001+18714
SolixCopenhagen, Denmark11-5020140
Walerud VenturesStockholm, Stockholm, Sweden1-1020021
Epiroc Construction ToolsKalmar, Kalmar, Sweden10001+20183
Trill ImpactStockholm, Stockholm, Sweden51-20020191
Nordic Foodtech VCHelsinki, Uusimaa, Finland1-1020197


Want to find more investors focusing on the satellite communication industry?

If you want to find more investors that are active in the satellite communicationindustry, you can do that with Inven. We built this list and analysis throughInven's Investor Search, and there are a lot more private equity, venturecapital, and corporate investors like these globally.

With Inven, you'll also get to know:

  • Deal History: Number of deals and their sizes.
  • Portfolio: Companies they've invested in.
  • Contact data: Key dealmakers, including their emails and phonenumbers.
  • ...and much more!