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The Full List of 11 Unicorn Startups in Sweden (2026)

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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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Northvolt 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
HeadquartersStockholm, Stockholms Lan, Sweden
Year Founded2016
FoundersHarald Mix, Nikolai V Gourine, Paolo Cerruti, Peter Carlsson
Funding Amount$13.8B
Company SizeEnterprise Organization (5,001+)
Last Funding StatusPrivate Equity
Top InvestorsBlackRock, 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
HeadquartersUppsala, Uppsala Lan, Sweden
Year Founded2000
FoundersChrister Wallberg, Mathias Hedlund
Funding Amount
Company SizeMajor Organization (1,001-5,000)
Last Funding StatusPrivate Equity
Top InvestorsKohlberg 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)
HeadquartersStockholm, Stockholms Lan, Sweden
Year Founded2023
FoundersAnton Osika, Fabian Hedin
Funding Amount$222.5M
Company SizeLean Team (11-50)
Last Funding StatusSeries A
Top InvestorsAccel, 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
HeadquartersStockholm, Stockholms Lan, Sweden
Year Founded2023
FoundersAugust Erséus, Max Junestrand, Sigge Labor
Funding Amount$266M
Company SizeMid-Size Team (51-250)
Last Funding StatusSeries C
Top InvestorsGeneral 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)
HeadquartersStockholm, Stockholms Lan, Sweden
Year Founded2018
FoundersDaniel Ek, Hjalmar Nilsonne
Funding Amount$325.1M
Company SizeMid-Size Team (51-250)
Last Funding StatusSeries B
Top InvestorsO.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)
HeadquartersStockholm, Stockholms Lan, Sweden
Year Founded2015
FoundersFredrik Jung Abboud, Joachim Hedenius, Johannes Schildt, Josefin Landgård
Funding Amount$729.4M
Company SizeMajor Organization (1,001-5,000)
Last Funding StatusSeries D
Top InvestorsAccel, 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)
HeadquartersStockholm, Stockholms Lan, Sweden
Year Founded2009
FoundersDavid Stenmarck, Hjalmar Winbladh, Jan Zachrisson, Oscar Höglund, Peer Åström
Funding Amount$508.9M
Company SizeLarge Team (251-1,000)
Last Funding StatusPrivate Equity
Top InvestorsAlecta, 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)
HeadquartersStockholm, Stockholms Lan, Sweden
Year Founded2016
FoundersFilip Lilja, Linnéa Kornehed, Robert Falck
Funding Amount$752.3M
Company SizeLarge Team (251-1,000)
Last Funding StatusVenture Round
Top InvestorsPlug 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
HeadquartersStockholm, Stockholms Lan, Sweden
Year Founded2020
FoundersCarl-Erik Lagercrantz, Harald Mix
Funding Amount$10.9B
Company SizeLarge Team (251-1,000)
Last Funding StatusPrivate Equity
Top InvestorsSociete 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
HeadquartersStockholm, Stockholms Lan, Sweden
Year Founded2015
FoundersStefan Jansson
Funding Amount$322.7M
Company SizeLarge Team (251-1,000)
Last Funding StatusVenture Round
Top InvestorsVargas 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.

Unicorn StartupMain IndustryYear FoundedAmount RaisedValuation
Instabox logo InstaboxLogistics2015$336.6M$1B

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