The Hottest Startups in Stockholm in 2024

Why is Stockholm, a superior metropolis with a colonisation little than 1 million, location to planetary brands specified arsenic Skype, Spotify, Klarna and Minecraft? “I deliberation it has to bash with the Swedish creed,” says Ben Eliass, CEO of bodycare marque Estrid. “It's a federation which enactment accent connected high-quality acquisition and invested heavy successful telecoms infrastructure successful the nineties, truthful we each grew up with high-speed internet.”

Many besides recognition a societal payment strategy that acts arsenic a “safety net” for entrepreneurship. “It allows radical to instrumentality precocious hazard and commencement companies, not needing to beryllium excessively acrophobic of the downsides,” says Max Junestrand, CEO of legaltech startup Leya. Indeed, Sweden has present produced much unicorns per capita than immoderate different state successful Europe, but for Estonia, earning a estimation arsenic the Silicon Valley of Europe“Stockholm has a genuinely unsocial ecosystem wherever you tin basal connected the shoulders of giants,” says Colin Treseler, CEO of Supernormal. “They person invested an unthinkable magnitude of resources into the endowment here, creating a captious wide of engineers, designers and merchandise thinkers that are exceptional astatine their craft.”

Estrid

Once, astatine a meal party, Amanda Westerbom confessed to her friends that she preferred to usage men’s razors. Surprisingly, galore of her friends besides did—not lone they offered a amended shave but they were besides cheaper. With the assistance of co-founders Alan Aygun and Ben Eliass, Westerbom decided to alteration that and, successful 2019, they launched razor marque Estrid. “We designed the grip ourselves, bought a €500 3D printer from a hardware store and started iterating,” Ben Eliass, CEO of Estrid, says. “That happening printed hundreds of handles, moving time and night. In the end, it astir burned down my location due to the fact that it was nether specified strain.” The effect is simply a 5-blade razor with a vegan hydration portion and an ergonomic weighted grip that the institution present delivers to implicit a cardinal subscribers crossed Europe. “We are dethroning 1 of the astir ascendant user monopolies of the modern era, becoming a adjacent generation, all-encompassing idiosyncratic attraction brand. A adjacent procreation Dove if you will.” estrid.com

Atlar

Joel Wägmark, Johannes Elgh, and Joel Nordström met portion moving astatine fintech startup Vink, which successful 2022 was bought by Visa for $2.2 billion. “We saw firsthand however rapidly user fintech was changing,” says Nordström. “But the equivalent fiscal tooling for businesses conscionable did not exist. Finance teams astatine the immense bulk of companies usage a premix of Excel, online slope portals, and bequest systems from the eighties and the nineties. It’s a batch of manual work.” Atlar, the bank-to-bank payments level Wägmark, Elgh, and Nordström launched successful 2022, eliminates specified complexity by automating payments for businesses with aggregate slope accounts crossed Europe. “We link straight to accepted banks and supply faster, much UX-friendly tools with which to negociate cash, forecast currency flow, and marque payments.“ says Nordström. With much than 35 customers crossed 10 countries, including the US, UK, France and Germany, Atlar has raised €13M from investors including Index Ventures and General Catalyst. atlar.com

Leya

Leya has developed a GenAI level that automates repetitive and manual tasks done by lawyers. “We saw firsthand however lawyers struggled with substance and admin-heavy tasks specified arsenic filling successful templates and extracting accusation from a ample fig of documents,” says CEO Max Junestrand. “We privation each lawyer to beryllium empowered by AI successful their enactment to execute more.” The startup—a Y Combinator alumni—was founded successful 2023 by Max Junestrand, August Erseus and Sigge Labor. In July 2024, they announced a $25m bid A round, led by US VC Redpoint Ventures, totalling $36m successful funds raised. They person implicit 100 clients successful 10 markets crossed Europe, including UK steadfast Bird & Bird, the largest instrumentality steadfast successful the Nordics, Mannheimer Swartling, and Spanish instrumentality steadfast Pérez-Llorca. ”We are focused connected solving circumstantial ineligible tasks,” Junestrand says. “This has differentiated america from the assemblage wherever the absorption lies much connected providing a level of wide LLM capabilities." leya.law

Lovable

Anton Osika, laminitis and CEO of Lovable, is connected a ngo to make what helium calls the “last portion of software”. “We made an AI that builds software,” helium says. “We launched Lovable to fto everyone person the aforesaid capabilities that merchandise improvement teams astatine tech companies person astatine their fingertips.” Lovable’s product, GPT Engineer, allows users to physique websites and web apps done a elemental chat interface. "Unlike different AI tools that tin code, which tin instrumentality hours to make results, Lovable gives radical instant feedback and allows for accelerated iteration,” Osika says. Launched successful 2023, the startup presently has much than 2,000 users and a waitlist of 27,000 radical from implicit 154 countries. Lovable has closed a $7.5 cardinal pre-seed backing circular led by VCs Hummingbird and by Founders. Also backed by investors including Mattias Miksche, Shopify’s Siavash Ghorbani, Voi’s Fredrik Hjelm, and Creandum co-founder Stefan Lindeberg. “One idiosyncratic built a real-time dashboard for fiscal data, conscionable by prompting,” Osika says. “She decided to discontinue her occupation to physique startups with AI tools instead.” lovable.dev

H2 Green Steel

In January 2024, cleantech startup H2 Green Steel raised €4.75 cardinal to implicit its flagship task successful Boden, a metropolis successful northbound Sweden: the world’s archetypal large-scale greenish alloy plant. Due to its reliance connected coal, modular alloy accumulation is liable for up to 9 percent of planetary c dioxide emissions. Founded successful 2020, H2 Green Steel aims to decarbonize steelmaking by utilizing hydrogen gas, which produces h2o vapor alternatively than c dioxide. The Boden works is owed to statesman robust accumulation by 2026, and expects to proviso astir 5 cardinal tonnes of the metallic by 2030. Clients see automakers BMW, Porsche and Volvo. h2greensteel.com

Supernormal

Fabian Perez and Colin Treseler spent weeks brainstorming ideas earlier they conceived their startup Supernormal. “Technology should springiness ace powers to cognition workers,” Treseler says. “We drew inspiration from our erstwhile teams astatine GitHub and Meta, wherever 1 of the halfway enactment principles was that if a gathering wasn’t documented, it didn’t exist.” Supernormal helps workers before, during, and aft meetings, with tools ranging from automatic note-taking creating and sharing elaborate agendas and insights from meetings. More than 325,000 clients usage the software, including Red Hat, Motorola, Harvard University, Salesforce, Power Digital, and Forbes. They’ve raised a $10m effect circular led by Balderton Capital. supernormal.com

Fever Energy

Fever Energy develops virtual powerfulness plants (VVP)—pools of distributed vigor resources, similar star panels oregon batteries, that tin beryllium utilized to nonstop vigor to the powerfulness grid. “A VVP is conscionable similar a accepted powerfulness plant,” says Ruben Flam, CEO of Fever Energy. “A large illustration would beryllium a fleet of electrical vehicles that tin discharge vigor backmost to the powerfulness grid.” Founded by 2022 by Flam, Klas Johansson and Ron Stolero, successful February 2024, it raised a €10m effect circular led by General Catalyst with the information of Norrsken VC and La Famiglia. The startup can’t disclose clients’ names, but claims they are already moving with ample inferior companies and EV manufacturers. fever.energy

Neko Health

Since its motorboat successful 2023, astir 5,000 radical person visited Neko’s wellness halfway successful Stockholm. Inside the clinic, they underwent a $230 non-invasive full-body scan successful little than an hr that checked for signs of imaginable skin, metabolic and cardiovascular diseases. According to the company, the scans identified perchance superior conditions successful 1 percent of that cohort, including aortic aneurysms, terrible diabetes and tegument cancer. Launched by Spotify laminitis Daniel Ek and Hjalmar Nilsonne, the healthtech startup has raised €60 cardinal from investors that see Atomico, General Catalyst, and Lakestar. A caller Neko wellness halfway successful London volition beryllium opening soon. nekohealth.com

Evroc

Founded successful 2022 by Mattias Åström, Andreas Birnik, and Andreas Jönsson, Evroc launched retired of stealth successful 2023 with €13 cardinal successful backing from backers specified arsenic EQT Ventures and Norrsken VC. In August 2024, it raised a further €42 million. The mission? To physique a sustainable hyperscale unreality successful Europe. “Europe has unluckily fallen down successful unreality services and American players presently power much than 80 percent of the full unreality market,” says Åström. “We’re founded evroc to enactment an extremity to this overseas dominance.” Construction of their flagship information halfway successful Arlandastad volition commencement astatine the extremity of 2024. “We volition besides look for suitable locations for our ain information centers successful France and Germany,” says Åström. “By 2030, we expect to person a web of 10 hyperscale information centers crossed Europe.” evroc.com

PaperShell

In May 2024, Italian furnishings decorator Arper launched a caller variation of the bureau seat Catifa 53. The archetypal was made with leather, metallic and plastic; the caller mentation uses, instead, a sustainable composite biomaterial manufactured from kraft insubstantial and resins, which is arsenic beardown arsenic a fibre composite and arsenic weather-resistant arsenic plastic. This wood substitute was invented by PaperShell, a institution launched successful 2021 by Anders Breitholtz and Mathieu Gustafsson. The worldly is not lone wholly fossil escaped but tin also, astatine the extremity of its beingness cycle, beryllium converted into biochar. The institution has raised €13.3 million. papershell.se

This nonfiction archetypal appeared successful the November/December 2024 variation of WIRED UK.