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In 2025, Sweden raised €4.1 billion in tech funding, ranking fifth in Europe. Investment focused on capital-intensive sectors such as hardware and energy, while software, healthtech, AI, and cleantech attracted smaller but steady funding.
In 2025, European tech investment reached €72 billion, making it the second-strongest year of the past three. Sweden raised €4.1 billion, ranking fifth among European countries by total funding.
Investment in Sweden was concentrated in capital-intensive sectors, with a limited number of large transactions accounting for a significant share of total funding. Hardware and energy attracted the highest levels of capital, reflecting strong activity in data infrastructure, power systems, and clean energy technologies, and highlighting Sweden’s role in industrial and sustainability-focused innovation.
Software and health technology formed a second tier of activity, supported by a steady stream of mid-sized venture and growth rounds. Software funding spanned digital platforms, enterprise tools, and product development, while healthtech investment continued to support advances in medical technology and digital healthcare.
Transportation technologies linked to electric mobility and logistics also attracted meaningful capital, reinforcing the country’s focus on industrial innovation. Meanwhile, sectors such as fintech and legal technology remained active but comparatively smaller in scale.
Emerging fields, including artificial intelligence, quantum technologies, and cleantech, recorded consistent early- and mid-stage funding, signalling growing investor interest despite more limited capital deployment relative to the leading sectors (for more detailed analyses of the European technology ecosystem, check out Tech.eu’s annual report: European Tech 2025-The Big Picture).
Here are the 10 companies that raised the most in 2025.
1
EcoDataCenter
Amount raised in 2025: €1.05B
EcoDataCenter is a Swedish digital infrastructure company that designs, builds, and operates sustainable data centers for cloud computing, high-performance computing (HPC), and artificial intelligence workloads.
The company focuses on combining high-performance infrastructure with renewable energy and energy-efficient design, including advanced cooling systems and circular energy solutions. Its facilities in Sweden support large-scale compute operations for enterprises and technology companies while aiming to reduce the environmental impact of data center operations.
In 2025, EcoDataCenter secured €1.05 billion over two financing rounds to expand its Falun and Borlänge campuses, strengthening sustainable high-performance infrastructure for AI and cloud.
2
Elvy
Amount raised in 2025: €500M
Elvy is an energy technology company that provides integrated home energy solutions through a subscription model.
The company installs and operates systems including solar panels, heat pumps, and battery storage, offering homeowners a fixed monthly energy plan that covers installation, maintenance, and system management.
By combining hardware with software-driven optimisation, Elvy aims to reduce household energy costs, increase energy self-sufficiency, and simplify the adoption of renewable energy technologies.
Elvy secured a €500 million financing package in 2025 to fund home energy packages offered through a monthly subscription model.
3
Lovable
Amount raised in 2025: €470M
Lovable is an AI software company that develops a platform for building websites and applications using natural language. Founded in 2023 by Anton Osika and Fabian Hedin, the company enables users to generate full-stack software by describing what they want to create, with AI producing the underlying code, backend, and deployment setup. The platform is designed to simplify software development and help individuals, startups, and teams rapidly prototype and launch digital products.
Lovable raised approximately €470 million across multiple funding rounds to scale its AI-powered no-code platform, expand product capabilities, accelerate growth, and drive broader adoption of its software-building tools for non-developers.
4
Neko Health
Amount raised in 2025: $260M
Neko Health is a health-technology company developing preventive healthcare solutions using advanced sensors, AI, and data analytics.
Founded in 2018, the company offers non-invasive full-body health scans that collect millions of data points to assess skin, cardiovascular, and metabolic health. Its platform combines scanning technology, blood testing, and doctor consultations to detect early signs of disease and help shift healthcare toward prevention and early diagnosis.
In 2025, Neko Health raised $260 million in Series B funding for preventative health scanning tech.
5
Legora
Amount raised in 2025: €200M
Legora is a legal technology company that develops AI-powered software designed to support lawyers and legal teams.
The company provides a collaborative AI workspace that helps legal professionals review documents, conduct research, draft contracts, and manage complex legal workflows more efficiently. Its platform integrates with existing tools and legal data sources, enabling law firms and in-house teams to automate routine tasks while improving the speed and accuracy of legal work.
In 2025, Legora raised €200 million over two rounds to accelerate product development, scale operations, and deepen its presence in core markets.
6
Polestar
Amount raised in 2025: $200M
Polestar is an electric vehicle manufacturer focused on premium performance cars powered by battery-electric technology.
The company designs, develops, and sells electric vehicles that combine Scandinavian design, advanced software, and sustainable materials. Headquartered in Sweden, Polestar operates globally and aims to accelerate the transition to sustainable mobility through innovative EV products and digital-first sales models.
Polestar secured $200 million in 2025 to support working capital needs and general corporate purposes.
7
Froda
Amount raised in 2025: €170M
Froda is a fintech company that provides digital financing solutions for small and medium-sized businesses.
Founded in 2015, the company uses data-driven technology and machine learning to offer fast, fully digital business loans and embedded financing services through partner platforms. Froda’s platform enables entrepreneurs to access capital quickly and on transparent terms, with the goal of improving access to financing for SMEs across Europe.
Froda raises €170 million in 2025 over two rounds, to fuel European expansion.
8
Aira
Amount raised in 2025: €150M
Aira is a clean energy technology company that provides integrated home energy solutions designed to reduce household emissions and energy costs.
The company installs and operates systems centred on heat pumps, alongside solar panels, batteries, and smart energy management software. Aira’s platform combines hardware, installation, and monitoring to help households transition from gas-based heating to more efficient electric systems across Europe.
In 2025, Aira secured €150 million to accelerate its mission to take Europe off gas.
9
Qvantum
Amount raised in 2025: €108M
Qvantum is an energy technology company that develops and manufactures heat pumps and integrated heating and cooling systems designed for sustainable buildings and urban energy networks.
The company combines hardware and software to deliver energy-efficient solutions that help decarbonise heating and cooling in homes, apartment buildings, and cities. Qvantum’s systems are designed to integrate with modern district heating networks and support the transition to low-carbon energy infrastructure.
In 2025, Qvantum raised €108 million to expand production and grow across Europe.
10
Einride
Amount raised in 2025: $100M
Einride is a technology company that develops digital, electric, and autonomous solutions for road transport.
Founded in 2016, the company provides an end-to-end platform that combines electric and autonomous trucks, charging infrastructure, and AI-driven logistics software to help businesses move goods more efficiently and reduce emissions. Einride’s technology is designed to accelerate the transition from diesel-based freight to sustainable, data-driven transportation systems
In 2025, Einride raised $100 million to support the expansion of its Saga platform, accelerate autonomous vehicle deployments, and fund international growth.
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