Vinnova

Vinnova is Sweden's government agency for innovation. Our mission is to contribute to sustainable growth by improving the conditions for innovation. We do this mainly by funding innovation projects and the research needed to develop new solutions. We also invest long term in strong research and innovation environments. We stimulate collaborations between companies, universities and other higher education institutions, public services, civil society and other actors. Our activities also focus on strengthening international cooperation. Each year, Vinnova invests around $350 millions in fostering innovation. Most of these funds are allocated via calls for proposals in which companies, public sector actors and other organisations apply for funding. All investments are continuously monitored and evaluated and we regularly analyse the impacts of our investments.

Anna Nilsson-Ehle

Chairman of the Board

Past deals in Nordic Europe

Saab

Grant in 2024
Saab is a Swedish company that provides a range of products and services in the military, defense, and civil security sectors. It operates through four main segments: aeronautics, dynamics, surveillance, and Kockums. The aeronautics segment focuses on the manufacturing and support of both defense and commercial aerial systems, while dynamics is involved in producing combat weapons and defense training systems. The surveillance segment offers security services and develops traffic management technology and aviation components. Kockums specializes in solutions for naval missions. A significant portion of Saab's revenue is derived from defense, with over half of its sales occurring in Europe. The company also engages in investments through Saab Ventures, its investment arm, which focuses on technology and industrial sectors, with a particular interest in civil security, defense, aviation, and space. Saab Ventures seeks to invest in startups and growing companies, primarily in Nordic countries, while aiming for minority equity positions in small and medium enterprises.

XNK Therapeutics

Grant in 2023
XNK Therapeutics is a clinical stage, immunotherapy company focusing its efforts on preventing and treating cancer by developing novel NK cell-based therapies. The company has established a leadership position in the clinical development and manufacture of autologous NK cell-based products using its proprietary technology platform. The company's platform technology and leading investigational drug candidate have ideal properties for targeting cancers, including settings where allogeneic cell products are not readily applicable. It is foreseen that the product will bring a critical component to tomorrow's cancer treatment strategies. XNK Therapeutics is headquartered in Stockholm, Sweden

Intervacc

Grant in 2023
Intervacc is a biotechnology company that specializes in developing vaccines based on recombinant proteins for animal health care. The company addresses the growing demand for effective vaccines and also emphasizes diagnostics within the animal health sector. Through its subsidiary, Intervacc provides bacteriological and mycological analyses specifically in the Swedish market.

Mycorena

Grant in 2023
Mycorena AB, founded in 2017 and based in Gothenburg, Sweden, specializes in developing nutritious fungi-based protein as a sustainable alternative to both meat and traditional plant-based proteins. The company leverages fungi biotechnology to create vegan protein products that require significantly fewer resources than conventional food production methods. By focusing on sustainability and resource efficiency, Mycorena aims to address global sustainability challenges and promote a circular economy. Its innovative solutions contribute to a more environmentally friendly food industry, enabling customers to make choices that positively impact the planet.

InDex Pharmaceuticals

Grant in 2020
InDex Pharmaceuticals AB is a clinical-stage biopharmaceutical company based in Stockholm, Sweden, focused on developing treatments for ulcerative colitis and other immunological diseases. The company’s lead product, cobitolimod, offers a local anti-inflammatory effect that aids in mucosal healing and alleviates clinical symptoms. Additionally, InDex Pharmaceuticals utilizes its proprietary DNA-based ImmunoModulatory Sequences (DIMS) platform to create drugs aimed at various therapeutic areas, including inflammation and cancer. The company also provides DiBiCol, a diagnostic kit designed to monitor specific biomarkers related to ulcerative colitis and Crohn’s disease from a single colonic biopsy. Founded in 2016, InDex Pharmaceuticals operates as a subsidiary of InDex Pharmaceuticals Holding AB (publ).

Cellink

Grant in 2020
Cellink is a biotechnology company and one of the first bioink companies in the world. The company leverages its bioink and 3D printing technology to print human organs and tissue models, which potentially can be used in e.g. oncology research, drug testing, and cosmetic testing. The company’s vision is to create the future of medicine by making bioprinting technology as accessible, user-friendly, and high performing as possible. Cellink has offices in Gothenburg, Sweden, and Palo Alto, California, and collaborates with different organizations across the globe.

Jaisy Health

Grant in 2019
Jaisy Health develops a jaundice detection equipment intended to develop a low cost but highly accurate solution for non-invasive jaundice in infants. It leverages technology to provide an optical mobile device that connects to any smartphone which measures the bilirubin level and predicts the risk of jaundice regardless of time and location, thereby providing clients with a low-cost solution to detect and measure jaundice. The company was founded in 2018 and is headquartered in Stockholm, Sweden.

Redsense Medical

Grant in 2019
Redsense Medical AB develops and markets advanced safety systems for medical treatments, focusing primarily on the dialysis sector in Europe and the United States. The company's flagship product, the Redsense System, utilizes patented fiber optic sensors to detect blood leakage during hemodialysis, triggering visual and audible alarms to alert caregivers and ensuring prompt response to potential issues. This system also monitors venous needle dislodgement at the blood access site. Additionally, Redsense Medical is working on the Redsense Clamp, an accessory designed to automatically stop blood flow by clamping the blood line in the event of a leak. Founded in 2000 and headquartered in Halmstad, Sweden, Redsense Medical aims to enhance patient safety and care in dialysis treatment through innovative technology.

Mendi

Venture Round in 2019
Mendi is a company based in Stockholm, Sweden, established in 2018, that specializes in developing an at-home Neurofeedback Brain Training headband paired with a mobile application. This innovative device aims to enhance mental well-being by helping users improve focus, regulate emotions, and build mental resilience. The headband provides a user-friendly experience, allowing individuals to engage in unlimited mental training sessions, thereby promoting better mental health and performance. Mendi's approach combines hardware and software to create a comprehensive solution for individuals seeking to strengthen their cognitive abilities and overall mental health.

Yolean

Grant in 2018
Yolean AB is a company based in Gothenburg, Sweden, that specializes in developing visual management tools aimed at facilitating digital Lean transformation. The company provides software that integrates wall-based visual management techniques with backend data management, enabling project line and knowledge managers, as well as Lean transformation leaders, to enhance visibility and transparency in knowledge work. Yolean's software allows for real-time interaction across multiple screens, facilitating collaboration among team members from various locations or organizations. Additionally, it helps identify and quantify bottlenecks in workflows. The company's product offerings include visual planning tools, pulse solutions, and check sheets, serving clients primarily in the automotive and public sectors. Through its focus on Lean visual management and knowledge management, Yolean aims to support businesses in achieving continuous, data-driven improvements in their project management processes.

TrusTrace

Grant in 2018
TrusTrace operates a traceability as a service platform designed to enhance transparency and compliance in the fashion supply chain. Founded in 2016 and based in Stockholm, Sweden, with an additional location in Coimbatore, India, the company offers a suite of tools to support product traceability and environmental management. Its primary offerings include T-Tracem, which tracks products from fiber to garment; T-CET, a customer engagement tool; I-CAT, which helps manage the environmental footprint; T-VeM for vendor management; T-BlockS, a blockchain solution for enhanced traceability and collaboration; and T-EMS, an evidence management tool. TrusTrace's technology enables global brands and suppliers to standardize the collection, digitization, and sharing of reliable supply chain data, allowing them to substantiate product claims and ensure regulatory compliance effectively.

Bintel

Seed Round in 2018
Bintel AB is a Swedish company founded in 2018, specializing in the development and marketing of innovative sensors for waste management. Their primary product is a digital waste-management platform that includes sensors mounted on household waste bins, which notify waste collectors when containers are full. This technology enhances the efficiency of waste collection by directly communicating with route planning tools used by waste trucks, helping municipalities, recycling companies, and real estate businesses optimize their collection routes and reduce operational costs. Based in Helsingborg, Bintel aims to improve waste management practices through its advanced sensor technology.

DeviceRadio

Grant in 2018
DeviceRadio AB, founded in 2016 and based in Malmö, Sweden, specializes in developing a communication layer that facilitates data transfer across various devices and connectivity methods within the Internet of Things (IoT) ecosystem. The company's innovative solution allows seamless communication regardless of the connection type, including Bluetooth, cellular networks, WiFi, and SMS. DeviceRadio addresses the complexity and fragmentation in the IoT landscape by providing a common infrastructure that enables diverse devices to communicate effectively. This initiative not only simplifies the development process for thousands of developers but also aims to enhance the potential applications of IoT, such as improving emergency response times and agricultural efficiency. Through its efforts, DeviceRadio strives to create a more integrated and cohesive environment for IoT advancements.

Spago Nanomedical

Grant in 2018
Spago Nanomedical AB is a Swedish company engaged in the research and development of nanomaterials for cancer diagnosis and treatment. Founded in 2007 and based in Lund, the company specializes in innovative products designed to enhance cancer care. Its flagship offerings include SpagoPix, a tumor-selective contrast agent aimed at improving cancer diagnosis through magnetic resonance imaging, and Tumorad, a novel radionuclide therapy that delivers targeted radiation to tumor tissues. The development of these products is grounded in a platform of polymeric materials, which enables precise diagnosis and treatment of life-threatening diseases. Spago Nanomedical's advancements hold promise for more effective cancer therapies, focusing on both early detection and targeted treatment options.

Imagimob

Venture Round in 2017
Imagimob AB, based in Stockholm, Sweden, specializes in developing artificial intelligence products focused on movement analytics for both people and objects. The company's flagship offering, SensorBeat, is a comprehensive motion intelligence system that integrates hardware and software components, including sensors, firmware, and artificial intelligence capabilities. This technology enables real-time AI processing on edge devices, facilitating applications such as audio classification, gesture recognition, predictive maintenance, and fall detection. By providing a robust platform, Imagimob allows companies to efficiently create and deploy AI applications tailored for embedded devices, enhancing their operational capabilities and performance.

TrusTrace

Grant in 2017
TrusTrace operates a traceability as a service platform designed to enhance transparency and compliance in the fashion supply chain. Founded in 2016 and based in Stockholm, Sweden, with an additional location in Coimbatore, India, the company offers a suite of tools to support product traceability and environmental management. Its primary offerings include T-Tracem, which tracks products from fiber to garment; T-CET, a customer engagement tool; I-CAT, which helps manage the environmental footprint; T-VeM for vendor management; T-BlockS, a blockchain solution for enhanced traceability and collaboration; and T-EMS, an evidence management tool. TrusTrace's technology enables global brands and suppliers to standardize the collection, digitization, and sharing of reliable supply chain data, allowing them to substantiate product claims and ensure regulatory compliance effectively.

DeviceRadio

Grant in 2017
DeviceRadio AB, founded in 2016 and based in Malmö, Sweden, specializes in developing a communication layer that facilitates data transfer across various devices and connectivity methods within the Internet of Things (IoT) ecosystem. The company's innovative solution allows seamless communication regardless of the connection type, including Bluetooth, cellular networks, WiFi, and SMS. DeviceRadio addresses the complexity and fragmentation in the IoT landscape by providing a common infrastructure that enables diverse devices to communicate effectively. This initiative not only simplifies the development process for thousands of developers but also aims to enhance the potential applications of IoT, such as improving emergency response times and agricultural efficiency. Through its efforts, DeviceRadio strives to create a more integrated and cohesive environment for IoT advancements.

Abliva

Grant in 2017
Abliva AB is a Swedish pharmaceutical company dedicated to the research and development of treatments for primary mitochondrial diseases, which are rare and severe disorders caused by dysfunctional mitochondria responsible for cellular energy production. The company's development pipeline includes KL1333, currently in phase I clinical trials, which acts as a regulator of NAD+ and NADH, and has received orphan drug designation in both Europe and the United States. Additionally, Abliva is preparing to initiate clinical trials for NV354, an energy replacement therapy that has recently completed preclinical development. The company also focuses on NeuroSTAT, aimed at treating traumatic brain injuries. Collaborations with various institutions and organizations, including Isomerase and the University of Pennsylvania, enhance its research capabilities. Founded in 2000 and headquartered in Lund, Sweden, Abliva was previously known as NeuroVive Pharmaceutical AB until its name change in May 2020.

Gleechi

Grant in 2016
Gleechi AB, founded in 2014 and based in Stockholm, Sweden, specializes in developing software solutions that facilitate natural interactions between humans, computers, and robots. The company has created a pioneering software product that allows for real-time hand motion interaction, enhancing user experiences in virtual reality and gaming, as well as enabling advanced interaction capabilities for robotic hands. Gleechi's innovations are rooted in sophisticated computer vision and machine learning algorithms. The company has received notable accolades, including the Super Startup of the Year award from Veckans Affärer and ALMI Invest, the EIT Digital Idea Challenge in Europe, and the Startup of the Year award from STING (Stockholm Innovation & Growth).

InDex Pharmaceuticals

Grant in 2016
InDex Pharmaceuticals AB is a clinical-stage biopharmaceutical company based in Stockholm, Sweden, focused on developing treatments for ulcerative colitis and other immunological diseases. The company’s lead product, cobitolimod, offers a local anti-inflammatory effect that aids in mucosal healing and alleviates clinical symptoms. Additionally, InDex Pharmaceuticals utilizes its proprietary DNA-based ImmunoModulatory Sequences (DIMS) platform to create drugs aimed at various therapeutic areas, including inflammation and cancer. The company also provides DiBiCol, a diagnostic kit designed to monitor specific biomarkers related to ulcerative colitis and Crohn’s disease from a single colonic biopsy. Founded in 2016, InDex Pharmaceuticals operates as a subsidiary of InDex Pharmaceuticals Holding AB (publ).
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