Five fast-growing Nordic scaleups have reached the finals ofTECH5 the Champions League of Technology.
The region has Europes highest density of unicorns privately held companies valued at over $1bn.
Sweden leads the pack with the EUs top startup ecosystem,according toStartupBlinks 2024 rankings.
The Nordics also possess one of Europes leading investment landscapes.
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This thriving ecosystem has produced global giants like Spotify and Klarna.
Now, TECH5 aims to uncover the next wave of tech titans.
TNWs judges selected the five finalists based on their growth, impact, and future potential.
Lets meet them (listed in no particular order).
Kompasbank
The Nordics have a thriving stable offintechs.
Kompasbank wants to change that.
Lassie
SwedensLassieis redefining pet care with insurance at its core.
The companys founders have an ideal blend of skills and experience.
CEO Hedda Baverud Olsson grew up with a veterinarian parent.
Investors have taken note, pumping over 36.5mn into Lassie.
NORNORM
The norm that DenmarksNORNORMwants to foster is circularity.
Its target for the transition is office furniture.
The scaleup helps businesses cut their environmental impact by ditching single-use furniture for a circular, subscription-based service.
In 2022, the company secured 110mnin a funding round led by growth equity firm Verdane.
Inter IKEA Development also contributed to the round.
Today, NORNORM is active in 17 countries and 59 cities.
The company plans to bring its service to many more businesses and not only big brands.
Flower
Floweris fighting climate change with power energy grid power, to be precise.
John Diklev founded the company in 2020 while still a university student in Stockholm.
Within a few years, Flower had amassed Swedens largest portfolio of battery systems for electricity storage.
Diklev wants his home country to set a standard in the energy transition.
Collective Minds Radiology
Collective Minds Radiologybelieves there is almost infinite expertise and data in healthcare.
The problem is its trapped in siloes at hospitals and medical institutions.
The Swedish scaleup has created a cloud-based collaboration platform that connects healthcare professionals, medical educators, and researchers.
Accelerating patient access to accurate diagnoses and effective treatments.
Long-term, this will increase efficiency in healthcare by saving time and money while improving the patient journey.
Collective Minds has high hopes for Swedens digital future.
Whats next for the TECH5 scaleups?
Next Monday, we unveil the five finalists from another rising region: DACH.
TECH5 is part of a packed programme forTNW Conference, which takes place on June 19-20 in Amsterdam.
Tickets for theeventarenow on sale.
Use the code TNWXMEDIA2025 at the check-out to get 30% off the price tag.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
