Top 18 Self Driving Car Investors in the Nordics
Top 18 Self Driving Car Investors in the Nordics
The self-driving car industry in the Nordics is characterized by a blend of startups and established firms focused on autonomous technologies and advanced driving systems. Companies in this sector are working on everything from innovative hardware solutions like LiDAR systems to sophisticated software that enhances vehicle intelligence. With an increasing emphasis on sustainable transport, investors are particularly interested in integration with electric and smart infrastructure. Trends indicate a growing collaboration between technology firms and traditional automakers, all propelling the industry towards a promising future where self-driving vehicles may redefine urban mobility.
This list features a mix of venture capital and corporate investors predominantly from Sweden, Norway, and Denmark, reflecting the Nordic innovation spirit. Ranging from major industries to specialized firms, these investors have provided significant funding with a focus on early-stage startups and technology advancements. Founded between 1856 and 2019, their combined efforts resulted in 78 investments in 2024, showcasing a strong commitment to the growth of the self-driving car sector.
Top 18 Self Driving Car 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. Almi has been involved in several transactions that highlight its interest in innovative technologies. Notably, it participated in the funding of Elonroad, a company developing a high-tech electric road system, which is relevant to the future of electric and potentially self-driving vehicles. This investment aligns with Almi's mission to support technological advancements that can benefit SMEs in the transportation sector. Other transactions, such as those involving Univrses and Klimator AB, suggest a broader interest in technology and innovation, although they are less directly related to self-driving cars.
2. Volvo Group
- Website: volvogroup.com
- Type: Corporate
- Headquarters: Sweden
- Founded year: 1927
- Headcount: 10001+
- Number of deals in 2024: 4
- LinkedIn: volvo-group
Volvo Group is a prominent manufacturing company based in Sweden, specializing in the production of trucks, buses, construction equipment, and marine and industrial engines. Founded in 1927, the company has a strong focus on providing efficient and sustainable solutions for the transportation and construction sectors. In recent years, Volvo Group has actively engaged in the self-driving car industry through significant investments. They participated in a $1.8 billion post-IPO equity round for Aurora, a leader in autonomous vehicle technology, and have invested in Waabi, which raised over $200 million in Series B funding in 2024, indicating their commitment to innovation in self-driving technology. Furthermore, their investment in Peloton Technology, which is developing advanced automation solutions for truck platooning, highlights their strategic interest in enhancing automation within the transportation sector. Overall, Volvo Group's investment activities reflect a strong alignment with the self-driving car industry.
3. NordicNinja VC
- Website: nordicninja.com
- Type: Venture Capital
- Headquarters: Helsinki, Uusimaa, Finland
- Founded year: 2019
- Headcount: 1-10
- Number of deals in 2024: 6
- LinkedIn: nordicninja-vc
NordicNinja VC is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2019. The firm specializes in investing in technology startups that focus on sustainability and digital innovation. With a portfolio that spans various sectors, including mobility, deep tech, and climate technology, NordicNinja VC has positioned itself as a key player in Northern Europe's startup ecosystem. Notably, they have invested in Einride, a Swedish startup that is pioneering autonomous trucks, participating in multiple funding rounds including a Series A, a Venture Round, and a Series B, which collectively raised significant capital to scale operations in Europe and the U.S. Additionally, they have invested in Starship Technologies, which is involved in autonomous delivery solutions, further solidifying their presence in the self driving and mobility sectors.
4. A.P. Moller - Maersk
- Website: maersk.com
- Type: Corporate
- Headquarters: Copenhagen, Denmark
- Founded year: 1904
- Headcount: 10001+
- Number of deals in 2024: 4
- LinkedIn: maersk-group
A.P. Moller – Maersk A/S is a prominent logistics company based in Copenhagen, Denmark, specializing in shipping and logistics services on a global scale. Founded in 1904, the company has a workforce of over 10,000 employees and is known for its efficient transportation solutions, including shipping, port operations, supply chain management, and warehousing. In recent years, Maersk has expanded its investment portfolio through Maersk Growth, focusing on innovative technologies that enhance its logistics capabilities. Notably, Maersk Growth has invested in several companies within the self-driving car sector, including Einride, a Swedish startup developing autonomous trucks, which raised $110 million in Series B funding with Maersk's participation. Additionally, Maersk Growth was involved in ISEE, a developer of self-driving yard truck solutions, which raised $40 million in Series B funding. These investments reflect Maersk's commitment to integrating autonomous vehicle technology into its operations, making it a relevant player in the self-driving car industry.
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. With a focus on nurturing companies from seed to IPO, Creandum provides venture capital investment, strategic support, and networking opportunities across various sectors. Notably, they have invested in Vay, a Berlin-based company that is developing autonomous driving technology, raising $95 million in a Series B funding round to launch their fleet in Hamburg. Additionally, Creandum has invested in Cake Bikes, a Swedish electric motorcycle/moped maker, which, while not directly a self driving car company, operates in the broader context of electric and autonomous mobility solutions. Their diverse portfolio and strategic investments position them as a relevant player in the self driving car industry.
6. 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 self driving car context, particularly with AImotive, a company dedicated to developing autonomous driving systems. They participated in AImotive's Series A, B, and C funding rounds, contributing to a total of approximately $45 million in investments. Additionally, Inventure invested in Commsignia, which is engaged in V2X innovations, further showcasing their interest in the self driving car industry. This combination of investments highlights Inventure's commitment to supporting advancements in autonomous vehicle technology.
7. Scania Group
- Website: scania.com
- Type: Venture Capital
- Headquarters: Sweden
- Founded year: 1891
- Headcount: 10001+
- Number of deals in 2024: 6
- LinkedIn: scania
Scania Group, founded in 1891, is a prominent vehicle and engine manufacturer based in Sweden, specializing in commercial vehicles such as heavy trucks and buses. The company not only provides vehicles but also offers a range of services including repair, maintenance, and financial solutions aimed at enhancing efficiency and sustainability in transportation and logistics. In recent years, Scania has shown a keen interest in the self-driving car industry through strategic investments. In June 2024, Scania participated in a Series B funding round for Waabi, which raised over $200 million to advance its autonomous driving technology. Furthermore, Scania Growth Capital was involved in an extended Series A funding round for Scantinel Photonics, a company developing LiDAR devices crucial for self-driving cars. These investments highlight Scania's proactive approach to integrating advanced technologies into its operations and its commitment to the future of autonomous transportation.
8. 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. Notably, EQT Ventures has been actively involved in the self-driving car sector through its investments in Einride, a Swedish startup that develops autonomous trucks. They participated in multiple funding rounds for Einride, including a $25 million Series A in 2019, a $110 million Series B in 2021, and a $200 million Series C in 2022. This consistent support highlights EQT Ventures' commitment to advancing technology in the autonomous vehicle space, making them a significant player in the self-driving car investment landscape.
9. Ericsson
- Website: ericsson.com
- Type: Corporate
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 1876
- Headcount: 10001+
- Number of deals in 2024: 3
- LinkedIn: ericsson
Ericsson is a telecommunications company founded in 1876, based in Stockholm, Sweden, with a workforce of over 10,000 employees. The company specializes in advanced connectivity solutions, including 5G networks and IoT platforms, which are crucial for enhancing operational efficiency across various industries. Notably, Ericsson has participated in funding rounds for Einride, a Swedish startup that develops autonomous trucks. They were involved in Einride's Series A, Series B, and earlier funding rounds, contributing to a total of approximately $150 million raised by the company. This involvement highlights Ericsson's commitment to the self-driving car sector, particularly in leveraging their connectivity solutions to support autonomous vehicle technology.
10. 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. The firm specializes 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, targeting technology companies that seek to enhance their market position and operational efficiency. Notable transactions include the acquisition of CAP-Group, the largest driver instruction company in the Nordic region, which indicates an interest in the automotive sector. Although not directly involved in self-driving technology, their investments in companies like Movimento Group and Revolt Technology, which are related to technology and innovation, suggest a broader interest in the automotive and transportation industries.
11. Volvo Cars
- Website: volvocars.com
- Type: Corporate
- Headquarters: Sweden
- Founded year: 1927
- Headcount: 10001+
- Number of deals in 2024: 2
- LinkedIn: volvocars
Volvo Cars, founded in 1927 and based in Sweden, is a prominent automobile manufacturer known for its focus on safety, sustainability, and innovative transportation solutions. The company has made significant strides in the self-driving car sector through strategic acquisitions and investments. Notably, Volvo Cars fully acquired Zenseact, a driving software company, in December 2022, marking a pivotal move to enhance its software capabilities in the automotive industry. Furthermore, Volvo has been a major shareholder in Polestar, providing substantial financial support, including an $800 million loan in November 2022, which underscores its commitment to advancing electric and hybrid vehicle technologies that are integral to the future of autonomous driving. Additionally, the recent acquisition of HaleyTek, a developer of infotainment systems, further illustrates Volvo's strategy to bolster its software development capabilities, which are essential for self-driving technology.
12. Seb
- Website: sebgroup.com
- Type: Venture Capital
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 1856
- Headcount: 10001+
- Number of deals in 2024: 13
- LinkedIn: seb
Skandinaviska Enskilda Banken AB (SEB) is a leading banking group in Northern Europe, providing a wide range of financial services including corporate and investment banking, asset management, and private wealth management. Founded in 1856 and based in Stockholm, Sweden, SEB serves large corporations, institutional clients, and private individuals, helping them manage their financial assets and navigate investment opportunities. In recent years, SEB has been involved in several notable transactions that align with the self-driving car industry. For instance, they participated in the Series A funding of ROCSYS, which raised $18 million in July 2023, focusing on robotics and automation technologies. Additionally, SEB invested in Candela, which raised $14 million in Series C funding in November 2024, contributing to advancements in electric transportation. These investments highlight SEB's commitment to supporting innovative technologies that are essential for the future of autonomous vehicles.
13. 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 emphasizes building long-term relationships with entrepreneurs to support their business journeys. Heartcore has been involved in various transactions, including notable investments in CloudMade, a company focused on automotive software solutions, and FINN, a car subscription platform that raised significant funding to enhance its technology and expand operations. These transactions highlight Heartcore's interest in the automotive sector, particularly in technology that could intersect with self-driving car innovations.
14. Danfoss
- Website: danfoss.com
- Type: Corporate
- Headquarters: Nordborg, Denmark
- Founded year: 1933
- Headcount: 10001+
- Number of deals in 2024: 2
- LinkedIn: danfoss
Danfoss is a corporate investor based in Nordborg, Denmark, founded in 1933. The company specializes in industrial solutions that enhance energy efficiency and sustainability across various sectors, including automotive. Danfoss has made significant strides in the electric powertrain market through its acquisitions, such as Visedo, a Finnish expert in electric powertrains, and UQM Technologies, which focuses on electric motors and power electronics. These acquisitions reflect Danfoss's strategy to strengthen its position in the electrification of vehicles, which is essential for the advancement of self-driving technology. With a global presence and a focus on innovative technologies, Danfoss is well-positioned to contribute to the self-driving car industry.
15. 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 Helsinki-based venture capital firm founded in 2009, specializing in early-stage investments across various sectors. The firm is dedicated to supporting resilient founders from the inception of their ventures, providing both financial backing and advisory services. In recent years, Lifeline Ventures has participated in several notable funding rounds, including investments in Varjo, a company known for its high-end enterprise XR headsets. Varjo has raised significant capital through multiple rounds, including a $40 million Series D round in September 2022, a $54 million Series C round in August 2020, and a $31 million Series B round in October 2018. While Varjo's primary focus is on XR technology, the applications of their products can intersect with the self-driving car industry, particularly in simulation and training environments for autonomous vehicles.
16. Ferd AS
- Website: ferd.no
- Type: Private Equity
- Headquarters: Oslo, Oslo, Norway
- Founded year: 1998
- Headcount: 51-200
- LinkedIn: ferd-as
Ferd AS is a private equity investment company based in Oslo, Norway, founded in 1998. The firm focuses on creating lasting value through various business activities, including investment management, real estate development, and support for social entrepreneurs. Ferd AS has been involved in several notable transactions, including investments in wheel.me, which raised over $14 million in 2023 and $13 million in 2021, indicating a strong interest in the self-driving car industry. Additionally, Ferd has invested in Kongsberg Automotive, a company that operates in the automotive sector, further showcasing their engagement in related fields. Their recent acquisition of a stake in General Oceans also reflects their strategy of investing in innovative technologies, which may intersect with advancements in autonomous systems.
17. Fouriertransform AB
- Website: fouriertransform.se
- Type: Corporate
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 2009
- Headcount: 1-10
- LinkedIn: fouriertransform-ab
Fouriertransform AB is a corporate investment company based in Stockholm, Sweden, founded in 2009. The firm specializes in the manufacturing industry, with a particular emphasis on vehicle-related and medical technology sectors. Fouriertransform actively manages its investments to enhance value and prepare for new ownership, serving businesses that seek capital and expertise for growth and innovation. Among their notable transactions, they invested in Smart Eye, which raised approximately $3.9 million in 2013. Smart Eye is known for its eye-tracking technology, which is crucial for driver monitoring systems in autonomous vehicles. This investment highlights Fouriertransform's engagement in technologies that are relevant to the self-driving car industry. Other investments include Rototest International, Alelion Energy Systems, and AAC Microtec, although these are less directly related to self-driving cars. Overall, Fouriertransform AB's focus on vehicle-related technologies positions them as a potential player in the self-driving car investment landscape.
18. Tobii
- Website: tobii.com
- Type: Corporate
- Headquarters: Stockholm, Stockholm, Sweden
- Founded year: 2001
- Headcount: 501-1000
- Number of deals in 2024: 1
- LinkedIn: tobii
Tobii is a technology company based in Stockholm, Sweden, founded in 2001, specializing in eye tracking and attention computing solutions. They offer a range of products, including eye trackers and software for various applications in automotive safety, healthcare, gaming, and scientific research. Their customers include automotive manufacturers, healthcare providers, and researchers who utilize Tobii's technology to enhance safety, improve user experience, and conduct behavioral studies. In 2024, Tobii completed the acquisition of AutoSense from Xperi Inc. for a minimum of USD 45 million, which aims to strengthen their position in the Automotive Interior Sensing market, particularly in Driver Monitoring and Occupant Monitoring Systems. This acquisition highlights Tobii's commitment to enhancing safety features in vehicles, making their technology relevant to the self-driving car industry. Additionally, their previous acquisitions, such as Sticky and Phasya, further demonstrate their focus on expanding their capabilities in data analytics and market research, which can also support advancements in automotive technologies.
Self Driving Car Insights: Key Investors in the Nordics
| Investor | Headquarter | Size | Founded | Deals 2024 |
|---|---|---|---|---|
| Almi | Stockholm, Stockholm, Sweden | 201-500 | 1994 | 7 |
| Volvo Group | Sweden | 10001+ | 1927 | 4 |
| NordicNinja VC | Helsinki, Uusimaa, Finland | 1-10 | 2019 | 6 |
| A.P. Moller - Maersk | Copenhagen, Denmark | 10001+ | 1904 | 4 |
| Creandum | Stockholm, Stockholm, Sweden | 11-50 | 2003 | 17 |
| Inventure | Helsinki, Uusimaa, Finland | 11-50 | 2005 | 9 |
| Scania Group | Sweden | 10001+ | 1891 | 6 |
| EQT Ventures | Stockholm, Stockholm, Sweden | 11-50 | 2015 | 28 |
| Ericsson | Stockholm, Stockholm, Sweden | 10001+ | 1876 | 3 |
| Verdane | Oslo, Oslo, Norway | 51-200 | 1985 | 7 |
| Volvo Cars | Sweden | 10001+ | 1927 | 2 |
| Seb | Stockholm, Stockholm, Sweden | 10001+ | 1856 | 13 |
| Heartcore Capital | Copenhagen, Denmark | 11-50 | 2007 | 17 |
| Danfoss | Nordborg, Denmark | 10001+ | 1933 | 2 |
| Lifeline Ventures | Helsinki, Uusimaa, Finland | 1-10 | 2009 | 14 |
| Ferd AS | Oslo, Oslo, Norway | 51-200 | 1998 | 0 |
| Fouriertransform AB | Stockholm, Stockholm, Sweden | 1-10 | 2009 | 0 |
| Tobii | Stockholm, Stockholm, Sweden | 501-1000 | 2001 | 1 |
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