# Defence tech investors in Sweden (2026 list) > 20 defence tech investors in Sweden, 75% active in the last 12 months. Led by Almi Invest, In-Q-Tel, Sting. Ranked by what they funded. Source: https://millionrounds.com/lists/defensetech-investors-in-sweden (Millionrounds; every figure on the page links to its filing or article) [Investor Lists](https://millionrounds.com/lists) # Defence tech investors in Sweden Updated 7 November 2026 Firms observed backing a defence tech company in Sweden in the last two years, wherever the firm is based. [See all 20 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fdefensetech-investors-in-sweden)The top 20 **20** investors on the list No change this week **122** cheques in 12 months *+39%* against the market **$1.3M** median round they joined *-84%* against the market median **75%** wrote a cheque in 12 months **30%** have led a round ## The Top 20 Ordered by cheques observed, never by anything anyone paid for Deploying now (15) - 1 [Almi Invest](https://millionrounds.com/fund/almi-invest) *Deploying now* VC firm · Sweden **328** **$1.1M** median round **Nov 2026** last seen - 2 [In-Q-Tel](https://millionrounds.com/fund/iqt) *Deploying now* Accelerator · United States **273** **$20M** median round **Nov 2026** last seen - 3 [Sting](https://millionrounds.com/fund/sting) *Deploying now* VC firm · United States **219** **$1.5M** median round **Sept 2026** last seen - 4 [Propel Capital](https://millionrounds.com/fund/propel-capital) *Deploying now* Accelerator · Sweden **52** **$996K** median round **Sept 2026** last seen - 5 [NATO Innovation Fund (NIF)](https://millionrounds.com/fund/nato-innovation-fund) *Deploying now* VC firm · Netherlands **16** **$17M** median round **Sept 2026** last seen - 6 [Join Capital](https://millionrounds.com/fund/join-capital) *Deploying now* VC firm · Germany **7** **$7M** median round **Oct 2026** last seen - 7 [Navigare Ventures](https://millionrounds.com/fund/navigare-ventures) *Deploying now* VC firm · Sweden **7** **$9.8M** median round **Sept 2026** last seen - 8 [D3](https://millionrounds.com/fund/d3) *Deploying now* VC firm **4** **$24M** median round **Sept 2026** last seen - 9 [Further Than Capital](https://millionrounds.com/fund/further-than-capital) *Deploying now* VC firm · Sweden **2** **$7.5M** median round **Sept 2026** last seen - 10 [Onsight Ventures](https://millionrounds.com/fund/onsight-ventures) *Deploying now* VC firm · Austria **2** **$15M** median round **Sept 2026** last seen - 11 [Snö Ventures](https://millionrounds.com/fund/sno-ventures) quiet VC firm · Norway **2** **$1.3M** median round **Nov 2024** last seen - 12 [Foundry ventures](https://millionrounds.com/fund/foundry-ventures) *Deploying now* VC firm · Sweden **1** **$615K** median round **Sept 2026** last seen - 13 [Longswan Ventures](https://millionrounds.com/fund/longswan-ventures) *Deploying now* VC firm **1** **$615K** median round **Sept 2026** last seen - 14 [Jan Gurander](https://millionrounds.com/fund/jan-gurander) quiet VC firm **1** **$1.3M** median round **Nov 2024** last seen - 15 [Johan Ahlberg](https://millionrounds.com/fund/johan-ahlberg) quiet VC firm **1** **$1.3M** median round **Nov 2024** last seen - 16 [Jörgen Bladh](https://millionrounds.com/fund/jorgen-bladh) quiet VC firm **1** **$1.3M** median round **Nov 2024** last seen - 17 [KTH Ventures](https://millionrounds.com/fund/kth-ventures) *Deploying now* VC firm **1** **$13M** median round **Sept 2026** last seen - 18 [Noam Perski](https://millionrounds.com/fund/noam-perski) quiet VC firm **1** **$1.3M** median round **Nov 2024** last seen - 19 [Saminvest AB via Annexstruktur](https://millionrounds.com/fund/saminvest-ab-via-annexstruktur) *Deploying now* VC firm **1** **$615K** median round **Sept 2026** last seen - 20 [Schyssta Änglar](https://millionrounds.com/fund/schyssta-anglar) *Deploying now* VC firm **1** **$615K** median round **Sept 2026** last seen ## The Newest Cheques Rounds this list's investors joined most recently - **6** Nov **[Ocient](https://millionrounds.com/company/ocient)** Series C · $100M *With* [In-Q-Tel](https://millionrounds.com/fund/iqt) - **2** Nov **[Northwood Space](https://millionrounds.com/company/northwood-space)** Series C · $375M *With* [In-Q-Tel](https://millionrounds.com/fund/iqt) - **2** Nov **[Sortrace](https://millionrounds.com/company/sortrace)** Seed · $800K *Led by* [Almi Invest](https://millionrounds.com/fund/almi-invest) - **24** Oct **[Warhound](https://millionrounds.com/company/warhound)** Seed · $200M *With* [In-Q-Tel](https://millionrounds.com/fund/iqt) - **21** Oct **[Watchtower Labs](https://millionrounds.com/company/watchtower-labs)** Seed · $35M *With* [In-Q-Tel](https://millionrounds.com/fund/iqt) - **15** Oct **[Mueon Corp.](https://millionrounds.com/company/mueon-corp)** Series A · $65M *With* [In-Q-Tel](https://millionrounds.com/fund/iqt) ## Stages This Year 102 rounds - Venture **22%** - Seed **22%** - Series A **17%** - Series B **10%** - Other **8%** - Other **23%** ## What They Backed Sectors, last 12 months - AI **31** - Biotech **18** - Defence Tech **13** - Big Data & Analytics **9** - Cybersecurity **9** - Aerospace & Space **8** ## Cheques by Quarter Led Joined 18 Q1 25 27 Q2 25 23 Q3 25 20 Q4 25 30 Q1 26 32 Q2 26 42 Q3 26 10 Q4 26 The last bar is the quarter still running. ## Lists Like This - [AI investors in United States 3,683](https://millionrounds.com/lists/ai-investors-in-united-states) - [Fintech investors in United States 1,166](https://millionrounds.com/lists/fintech-investors-in-united-states) - [AI investors in United Kingdom 1,039](https://millionrounds.com/lists/ai-investors-in-united-kingdom) - [Big Data & Analytics investors in United States 1,039](https://millionrounds.com/lists/big-data-investors-in-united-states) - [Biotech investors in United States 914](https://millionrounds.com/lists/biotech-investors-in-united-states) - [Energy investors in United States 798](https://millionrounds.com/lists/energy-investors-in-united-states) - [Robotics investors in United States 797](https://millionrounds.com/lists/robotics-investors-in-united-states) - [Construction investors in United States 742](https://millionrounds.com/lists/construction-investors-in-united-states) - [Cybersecurity investors in United States 702](https://millionrounds.com/lists/cybersecurity-investors-in-united-states) [All investor lists *→*](https://millionrounds.com/lists) ## Reading for founders in government and defence - The Hour of the Predator Giuliano da Empoli · 2025 3.94 from 5,140 ratings on Goodreads Government and defence About the book A chilling assessment of international politics in our time, from an internationally bestselling author whose work has sparked controversy and debate across the worldBlending the author’s personal insight with startling historical comparisons to the days of Machiavelli and the… On AmazonListen on Audible - Written Out of History: The Forgotten Founders Who Fought Big Government Mike Lee · 2017 4.05 from 728 ratings on Goodreads Government and defence Company building About the book Senator Mike Lee tells the story of the Founders whose warnings about the dangers of an all-powerful federal government helped shape our Constitution--but are being ignored today. Today, most Americans are familiar only with the "big names" associated with the Founding -… On AmazonListen on Audible - Unit X: How the Pentagon and Silicon Valley Are Transforming the Future of War Raj M. Shah · 2024 3.82 from 1,608 ratings on Goodreads Government and defence Company building Innovation About the book Shortlisted for the 2024 Financial Times Business Book of the Year “An exceedingly important book!”, General David Petraeus, US Army (Ret.), former Director of the CIA “Essential reading for understanding how technology will change the future of warfare.”, Chris Miller, New York… On AmazonListen on Audible - The Sirens' Call: How Attention Became the World's Most Endangered Resource Christopher L. Hayes · 2025 3.93 from 8,942 ratings on Goodreads Government and defence About the book An Instant #1 New York Times BestsellerFrom the New York Times bestselling author and MSNBC and podcast host, a powerful wide-angle reckoning with how the assault from attention capitalism on our minds and our hearts has reordered our politics and the very fabric of our… On AmazonListen on Audible More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&industry=government). As an Amazon Associate we earn from qualifying purchases. ## Quick answers about defence tech investors in Sweden ### Who are the most active defence tech investors in Sweden? By cheques observed, the most active are Almi Invest, In-Q-Tel, Sting, Propel Capital and NATO Innovation Fund (NIF). ### How many defence tech investors in Sweden are there? 20 are on record. 75% made an investment in the last 12 months and 30% have led a round. ### Which stages do defence tech investors in Sweden back? Of the rounds with a named stage in the last 12 months, mostly Seed (31%) and Series A (24%). ### How big are the rounds defence tech investors in Sweden join? The typical (median) round among the leading investors here is $1.3M. ### Which sectors do defence tech investors in Sweden back most? In the last 12 months, mostly AI, Biotech and Defence Tech. ### Which defence tech investors in Sweden lead the most rounds? NATO Innovation Fund (NIF) (10 led), Join Capital (6 led) and Navigare Ventures (5 led). ### Where are defence tech investors in Sweden based? Among the most active, most are based in Sweden (5), the United States (2) and the Netherlands (1). ### What have defence tech investors in Sweden invested in recently? Recent rounds include Ocient (Series C, Nov 2026, with In-Q-Tel), Northwood Space (Series C, Nov 2026, with In-Q-Tel) and Sortrace (Seed, Nov 2026, with Almi Invest). Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)