Furthermore, it is highly rated for innovation and good business performance, which can be seen by their 2nd place in the Global Innovation Index or 7th in the Open for Business Ranking.

We are all surrounded by Swedish products and it doesn’t only refer to IKEA’s furniture. Sometimes people don’t even realise that famous companies like Spotify, H&M, Electrolux, or even the game Minecraft, were also created by the Swedes. It only proves how effective they are in establishing successful companies.

Everything happens in the very heart of this beautiful country – Stockholm. It is one of Europe’s most-important tech communities and one of the leading, fastest-growing technology startup cities in the world. Stockholm is chosen by many international retailers, and creative industries can really thrive there.

Whether you’re looking for companies that offer safer transportation, helpful software or financial technologies, Swedish startups present a wide range of solutions. Moreover, their solutions can be better for the environment and make our lives greener.

So, without further ado, here are the impressive Swedish startups you should know about.

Rocker 

a Stockholm-based fintech startup that was launched in 2017. It makes banking more affordable, more flexible and easier to use. With Rocker’s mobile banking services, customers can have better control over their everyday financial life. Currently, the company aims to expand its services to many European markets. 

Tibber

an energy startup started in 2016. The company focuses on changing the entire energy market as they offer cheap and green energy. Their app helps customers to reduce their electricity bill and consumption. According to Tibber’s website, they “ believe in using digital technology to make electricity consumption smarter.” 

Noquo Foods

established in 2019. The founders, Sorosh Tavakoli and Anja Leissner, believe that using animals to produce products such as yoghurt, cheese, or ice cream is very wasteful and destructive. Therefore, they decided to develop plant-based food alternatives that are tastier, more nutritious and more acceptable within our planetary boundaries.

Formulate

a SaaS retail-promotion startup that was founded in 2016. The company creates AI solutions for retailers which help them to analyse and optimise their promotional activities. Their automated analytics engine is powered by signal processing technology, machine learning algorithms, and the latest marketing research. 

Heart Aerospace

was founded in 2018 by Anders Forslund and is an electric aircraft manufacturer.  The company aims to develop the fastest, most affordable and sustainable transport that can travel to any corner of the world. Their first fully electric aircraft is the ES-19, which they plan to certify for commercial operation by 2025. 

Volta Trucks

was founded in 2019 and develops fully electric delivery vehicles. The company wants their invention to be safer for drivers, pedestrians and cyclists. Because it is electric, it is also safer for the environment as it does not produce any tailpipe emissions. Also, their trucks are made of natural or biodegradable materials, which reduces CO2 emissions by over 75%.

NorthVolt

was founded in 2016, with the purpose to achieve a European transition to renewable energy. The company develops a new generation of lithium-ion battery production, which is the key to a carbon-neutral society. Their factory is 100% powered by clean energy, and they plan a large-scale production in 2021.

Flowbox

is a startup launched in 2016 that specialises in marketing technology. It provides a tool to improve marketing and commercial work. Their SaaS platform allows brands to use social content to better understand their customers and thus increase sales, engagement and revenue.

Mavenoid

is a troubleshooting software launched in 2017. Through combining human knowledge with AI, they help customers identify problems and provide advice on how to solve them. The company’s software is used to troubleshoot problems in every field, from fast separators to cranes.

Stravito

was founded in 2017. It simplifies the collection and organisation of market and sales data for companies. With the power of machine learning, they enable AI-powered tagging, content summaries, and categorisation. Stravito also allows better collaboration as it gives its users an insight into their research and lets them share their results with colleagues from different departments and regions.

As you can see, it’s no wonder that the Swedish startup ecosystem is the one worth paying attention to as Sweden is the most promising country in terms of the number of growing technology businesses. It’s just a matter of time when the companies mentioned above will become famous world-wide.

Are you are looking for other markets than Swedish? The tech ecosystem in Poland is booming, with a record €477 million being invested last year and some huge stories. Check out which are the Top Poland-based startups to watch in 2021.