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Swedish technology companies raised approximately €2.8
billion in H1 2026, with a significant share of capital concentrated in a small
number of large transactions.
Stegra recorded the largest financing at €1.4 billion,
accounting for around 46 per cent of the total. It was followed by Legora’s
€472.7 million Series D and Polestar’s €339.2 million equity financing.
Together, these three transactions represented around 71 per cent of total
funding, highlighting the impact of the largest rounds on Sweden’s overall
funding figures.
Most transactions were considerably smaller. More than
two-thirds of disclosed rounds were below €10 million, with a median round size
of approximately €3.5 million.
By industry, cleantech led with approximately €1.48 billion,
largely due to Stegra’s financing. Other companies raising capital in the
sector included PaperShell, Candela, Graphmatech and Wayout. Legaltech followed
with approximately €517 million, driven by Legora’s Series D and subsequent
extension, while transportation companies raised around €457 million, led by
Polestar and Einride.
Software recorded the highest number of transactions but
attracted around €110 million, reflecting a larger number of smaller and
early-stage rounds. Funding activity also extended across marketing, fintech,
healthcare, energy, security, sports, semiconductors, deeptech and AI.
Overall, Swedish tech funding in H1 was characterised by a
combination of large industrial, climate and transportation financings and a
broader base of smaller investments across technology sectors. While a few
large rounds accounted for most of the capital raised, early-stage activity
remained spread across a range of industries.
For further insights into funding trends across the European
technology ecosystem, check out Tech.eu’s Funding Explorer, free and open to
everyone.
Here are the ten companies that raised the most in H1 2026.
Amount raised in H1 2026: €1.4B
Stegra is an industrial decarbonisation company developing near-zero-emission steel production.
Its integrated plant in Boden combines renewable electricity, green hydrogen and direct reduction to replace coal in ironmaking, alongside steelmaking and recycling operations. The project is designed to reduce the carbon footprint associated with conventional steel production.
In H1 2026, Stegra secured €1.4 billion in new financing as part of a larger funding package aimed at completing construction and commissioning of the Boden plant.
Amount raised in H1 2026: $600M
Built for law firms and in-house legal teams, Legora provides an AI platform for legal research, document review, drafting and other workflows.
Its technology combines legal knowledge, organisational data and AI agents to support work across areas including M&A, litigation, banking and tax. The Swedish legaltech has expanded internationally and serves legal professionals across dozens of markets.
Legora raised $600 million across two H1 2026 transactions, including a Series D and subsequent extension, to support further expansion and product development.
Amount raised in H1 2026: $400M
Swedish electric vehicle company Polestar develops performance-focused EVs and related automotive technology for international markets.
Its vehicle portfolio combines electric powertrains, digital systems and design, with the company operating across Europe, North America and Asia-Pacific.
In H1 2026, Polestar secured $400 million in new equity financing from Sumitomo Mitsui Banking Corporation and Standard Chartered Bank, intended to strengthen its balance sheet and liquidity.
Amount raised in H1 2026: $113M
Einride develops technology for electric and autonomous road freight, combining electric heavy-duty vehicles, cabless autonomous trucks, charging infrastructure and its Saga software platform.
The Swedish mobility company operates across Europe, North America and the Middle East, using software and AI to manage and optimise freight operations.
Ahead of its planned public-market debut, Einride raised $113 million in H1 2026 through an oversubscribed PIPE, supporting its technology roadmap, international expansion and autonomous deployments.
Amount raised in H1 2026: $80M
Funnel is a Stockholm-based marketing intelligence company that helps businesses collect, structure and analyse marketing data from hundreds of platforms.
Its technology creates a governed data foundation for reporting, measurement, analytics and AI-driven workflows, reducing the manual work involved in consolidating fragmented marketing information.
Funnel secured approximately $80 million in H1 2026 through a debt facility from HSBC Innovation Banking and Hercules Capital to support product development, international expansion and its transition towards an AI-first platform.
Amount raised in H1 2026: $75M
Lassie is a prevention-focused pet insurtech combining insurance with digital tools designed to support animal health.
Through its app, pet owners can access educational content and preventive-care incentives, while the company uses automation and AI to streamline claims and other insurance processes. Lassie is expanding its model across European pet insurance markets and developing partnerships connecting insurance with everyday pet care.
In H1 2026, Lassie raised $75 million in Series C funding to support its European expansion and further develop its technology.
Amount raised in H1 2026: $50M
Endra applies AI to mechanical, electrical and plumbing (MEP) engineering, automating parts of the process used to design building systems.
Founded in Stockholm, its platform generates and coordinates systems such as electrical wiring, lighting, ventilation, plumbing and fire safety within building models, with a focus on producing code-compliant designs and reducing manual engineering work.
Endra secured $50 million in Series A funding in H1 2026, led by Andreessen Horowitz, to accelerate product development and growth.
Amount raised in H1 2026: €40.3M
Materials technology company PaperShell develops bio-based composite materials designed as alternatives to plastics, aluminium and glass-fibre composites.
Its technology turns kraft paper into load-bearing components for applications spanning transport, electronics, architecture, consumer goods and defence. The company operates a pilot factory in Tibro and is moving towards industrial-scale manufacturing.
In H1 2026, PaperShell secured up to €40.3 million from the EU Innovation Fund to establish a new full-scale factory in Tibro.
Amount raised in H1 2026: €34M
Kustom is a Swedish fintech providing checkout and payment infrastructure for merchants across Europe.
Its platform supports online and omnichannel transactions, offering merchants access to multiple currencies, payment methods, delivery options and tools for physical retail. The company serves more than 24,000 merchants across European markets.
In H1 2026, Kustom raised €34 million from Resurs Bank to support international expansion and further product development.
Amount raised in H1 2026: €30M
Founded in 2024, Sweden Ballistics (SWEBAL) is a defence manufacturing company establishing domestic production of trinitrotoluene (TNT).
Its planned facility in Nora is intended to supply explosives for European defence manufacturing and reduce dependence on imported critical materials, using European machinery and raw-material supply chains. The plant is expected to have an annual capacity of around 4,000 tonnes.
In H1 2026, SWEBAL raised €30 million to complete construction of the facility and prepare for production.