Sweden is home to 11 unicorn startups, with a mix of industries from AI to clean energy. Battery manufacturer Northvolt leads the group with a $12B valuation.
The clean energy sector shows significant investment, with green steel producer Stegra securing $10.9B in funding. The country's startup scene also includes new AI companies like Lovable, which was founded in 2023 and is already valued at $2B.
Below is the full list of 11 Sweden unicorn startups at this time.
Top 10 Most Valuable Sweden Unicorns
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Get the Sheet for $50Northvolt produces sustainable lithium-ion batteries for electric vehicles and large-scale energy storage systems. They are pioneering a new, circular model for battery manufacturing to deliver the world's greenest battery.
| Valuation | $12B |
| Headquarters | Stockholm, Stockholms Lan, Sweden |
| Year Founded | 2016 |
| Founders | Harald Mix, Nikolai V Gourine, Paolo Cerruti, Peter Carlsson |
| Funding Amount | $13.8B |
| Company Size | Enterprise Organization (5,001+) |
| Last Funding Status | Private Equity |
| Top Investors | BlackRock, European Investment Bank, Bpifrance, BNP Paribas, Goldman Sachs |
Etraveli Group develops a global technology platform for booking flights. Their technology powers leading online travel agencies as well as their own portfolio of consumer brands.
| Valuation | $3B |
| Headquarters | Uppsala, Uppsala Lan, Sweden |
| Year Founded | 2000 |
| Founders | Christer Wallberg, Mathias Hedlund |
| Funding Amount | — |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Private Equity |
| Top Investors | Kohlberg Kravis Roberts |
Lovable builds an AI-powered platform that enables users to create applications and software products without extensive coding skills. Their technology translates ideas into functional code, making software development significantly more accessible.
| Valuation | $2B (Joined July 2025) |
| Headquarters | Stockholm, Stockholms Lan, Sweden |
| Year Founded | 2023 |
| Founders | Anton Osika, Fabian Hedin |
| Funding Amount | $222.5M |
| Company Size | Lean Team (11-50) |
| Last Funding Status | Series A |
| Top Investors | Accel, Antler, QuantumLight, Creandum, The Twenty Minute VC |
Legora builds a collaborative AI assistant that empowers lawyers with document review, research, and drafting legal materials. The platform is designed to work alongside legal professionals, helping them accelerate their workflow and focus on higher-value tasks.
| Valuation | $2B |
| Headquarters | Stockholm, Stockholms Lan, Sweden |
| Year Founded | 2023 |
| Founders | August Erséus, Max Junestrand, Sigge Labor |
| Funding Amount | $266M |
| Company Size | Mid-Size Team (51-250) |
| Last Funding Status | Series C |
| Top Investors | General Catalyst, Benchmark, Y Combinator, Bessemer Venture Partners, SV Angel |
Neko Health provides comprehensive, non-invasive body scans designed for preventive healthcare and early disease detection. Their AI-powered platform analyzes data from the scan to give individuals a detailed snapshot of their health and potential risks.
| Valuation | $2B (Joined January 2025) |
| Headquarters | Stockholm, Stockholms Lan, Sweden |
| Year Founded | 2018 |
| Founders | Daniel Ek, Hjalmar Nilsonne |
| Funding Amount | $325.1M |
| Company Size | Mid-Size Team (51-250) |
| Last Funding Status | Series B |
| Top Investors | O.G. Venture Partners, Lakestar, Atomico, Lightspeed Venture Partners, General Catalyst |
Kry provides a digital healthcare service that allows patients to meet doctors and therapists through video calls. Their platform integrates directly with public and private healthcare providers, giving patients a more convenient way to manage their health.
| Valuation | $2B (Joined April 2021) |
| Headquarters | Stockholm, Stockholms Lan, Sweden |
| Year Founded | 2015 |
| Founders | Fredrik Jung Abboud, Joachim Hedenius, Johannes Schildt, Josefin Landgård |
| Funding Amount | $729.4M |
| Company Size | Major Organization (1,001-5,000) |
| Last Funding Status | Series D |
| Top Investors | Accel, Creandum, Index Ventures, Ontario Teachers' Pension Plan, Fidelity |
Epidemic Sound provides a subscription-based platform full of royalty-free music and sound effects for online creators. Their service simplifies music licensing, helping storytellers soundtrack their content without copyright issues.
| Valuation | $1.4B (Joined March 2021) |
| Headquarters | Stockholm, Stockholms Lan, Sweden |
| Year Founded | 2009 |
| Founders | David Stenmarck, Hjalmar Winbladh, Jan Zachrisson, Oscar Höglund, Peer Åström |
| Funding Amount | $508.9M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Private Equity |
| Top Investors | Alecta, Blackstone Group, Creandum, EQT, AMF |
Einride provides a freight technology platform that helps shippers switch to digital, electric, and autonomous transportation. Their system coordinates fleets of electric trucks and innovative autonomous "pods" to make shipping more sustainable and cost-effective.
| Valuation | $1B (Joined December 2021) |
| Headquarters | Stockholm, Stockholms Lan, Sweden |
| Year Founded | 2016 |
| Founders | Filip Lilja, Linnéa Kornehed, Robert Falck |
| Funding Amount | $752.3M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Venture Round |
| Top Investors | Plug and Play, IonQ, Temasek Holdings, EQT Ventures, Northzone |
Stegra aims to decarbonize the steel industry by building a large-scale production plant powered by green energy. They will use green hydrogen to produce steel, significantly reducing the carbon emissions typically associated with the process.
| Valuation | $1B |
| Headquarters | Stockholm, Stockholms Lan, Sweden |
| Year Founded | 2020 |
| Founders | Carl-Erik Lagercrantz, Harald Mix |
| Funding Amount | $10.9B |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Private Equity |
| Top Investors | Societe Generale, Temasek Holdings, European Investment Bank, BNP Paribas, Just Climate |
Polarium builds smart and sustainable energy storage solutions based on lithium-ion technology. These systems provide reliable power for global clients in the telecom, commercial, and industrial sectors.
| Valuation | $1B |
| Headquarters | Stockholm, Stockholms Lan, Sweden |
| Year Founded | 2015 |
| Founders | Stefan Jansson |
| Funding Amount | $322.7M |
| Company Size | Large Team (251-1,000) |
| Last Funding Status | Venture Round |
| Top Investors | Vargas Holdings, AMF, Formica Capital, Alecta, RoosGruppen |
The Remaining Unicorn Founded in Sweden
The ten most valuable companies are just one part of Sweden's startup success. Another company has also reached the billion-dollar valuation mark, adding to the country's growing tech scene.
This logistics company has raised over $336 million to get there. Here is a closer look at the final unicorn shaping Sweden's economy.