# Industrifonden Portfolio Map 2026: 42 Startups by Sector > Industrifonden's portfolio mapped: 42 startups it has backed, in 8 sectors from Biotech, IT Services and Advertising & Adtech on. Source: https://millionrounds.com/portfolio-maps/industrifonden-portfolio-map (Millionrounds; every figure on the page links to its filing or article) ## Biotech 13 - [AnaCardio](https://millionrounds.com/company/anacardio) - [*O* OxThera](https://millionrounds.com/company/oxthera) - [Asgard Therapeutics](https://millionrounds.com/company/asgard-therapeutics) - [Teitur Trophics](https://millionrounds.com/company/teitur-trophics) - [Pixelgen Technologies](https://millionrounds.com/company/pixelgen-technologies) - [Tribune Therapeutics](https://millionrounds.com/company/tribune-therapeutics) - [Gesynta Pharma AB](https://millionrounds.com/company/gesynta-pharma-ab) - [*C* Cardoz](https://millionrounds.com/company/cardoz) - [*RP* Resistentia Pharmaceuticals](https://millionrounds.com/company/resistentia-pharmaceuticals) - [*A* Amra](https://millionrounds.com/company/amra) - [EnginZyme](https://millionrounds.com/company/enginzyme) - [Combinostics](https://millionrounds.com/company/combinostics) - [*MM* Mitra Medical Technology](https://millionrounds.com/company/mitra-medical-technology) ## IT Services 7 - [TrialBee](https://millionrounds.com/company/trialbee) - [*C* Conveneer](https://millionrounds.com/company/conveneer) - [eBuilder](https://millionrounds.com/company/ebuilder) - [Zaplox](https://millionrounds.com/company/zaplox) - [Decuma AB](https://millionrounds.com/company/decuma-ab) - [ZeroPoint Technologies](https://millionrounds.com/company/zeropoint-technologies) - [Starcounter](https://millionrounds.com/company/starcounter) ## Advertising & Adtech 5 - [*FR* Funnel Raises](https://millionrounds.com/company/funnel-raises) - [Adfenix](https://millionrounds.com/company/adfenix) - [Keybroker](https://millionrounds.com/company/keybroker) - [*W* Widespace](https://millionrounds.com/company/widespace) - [Qwaya](https://millionrounds.com/company/qwaya) ## Telecoms 4 - [*F* Flexenclosure](https://millionrounds.com/company/flexenclosure) - [Anyfi Networks](https://millionrounds.com/company/anyfi-networks) - [Repeatit](https://millionrounds.com/company/repeatit) - [Scalado](https://millionrounds.com/company/scalado) ## Manufacturing 4 - [AlixLabs](https://millionrounds.com/company/alixlabs) - [Crosser](https://millionrounds.com/company/crosser) - [Cyrba](https://millionrounds.com/company/cyrba) - [Freemelt](https://millionrounds.com/company/freemelt) ## Big Data & Analytics 3 - [FishBrain](https://millionrounds.com/company/fishbrain) - [Hopsworks](https://millionrounds.com/company/hopsworks) - [Formulate](https://millionrounds.com/company/formulate) ## Cleantech 3 - [Sol Voltaics](https://millionrounds.com/company/sol-voltaics) - [Yangi](https://millionrounds.com/company/yangi) - [SeaPattern](https://millionrounds.com/company/seapattern) ## Fintech 3 - [Qapital](https://millionrounds.com/company/qapital) - [Open Payments](https://millionrounds.com/company/open-payments) - [Limina Investment Management Solution](https://millionrounds.com/company/limina-investment-management-solution) ## Segment by segment ### Biotech 13 startups · $371M raised - [**AnaCardio**](https://millionrounds.com/company/anacardio) AnaCardio is a clinical-stage biopharmaceutical company based in Solna, Sweden, focused on developing innovative treatments for he Switzerland $89M - [*O* **OxThera**](https://millionrounds.com/company/oxthera) Sweden $87M - [**Asgard Therapeutics**](https://millionrounds.com/company/asgard-therapeutics) Asgard Therapeutics is a privately held biotech company based in Lund, Sweden, founded in 2018 as a spin-off from Lund University. Sweden $33M - [**Teitur Trophics**](https://millionrounds.com/company/teitur-trophics) Teitur Trophics is a biotechnology company based in Aarhus, Denmark, focused on developing innovative treatments for neurodegenera Denmark $30M - [**Pixelgen Technologies**](https://millionrounds.com/company/pixelgen-technologies) Pixelgen Technologies AB is a biotechnology company based in Stockholm, founded in 2020. Sweden $29M - [**Tribune Therapeutics**](https://millionrounds.com/company/tribune-therapeutics) Tribune Therapeutics is a preclinical biopharmaceutical company based in Stockholm, Sweden, founded in 2020. Sweden $25M - [**Gesynta Pharma AB**](https://millionrounds.com/company/gesynta-pharma-ab) Gesynta Pharma AB is a clinical-stage pharmaceutical company based in Stockholm, Sweden, founded in 2017. Sweden $21M - [*C* **Cardoz**](https://millionrounds.com/company/cardoz) Cardoz AB, based in Stockholm, Sweden, manufactures anti-inflammatory pharmaceuticals to combat heart and vascular disorders. Sweden $18M ### IT Services 7 startups · $33M raised - [**TrialBee**](https://millionrounds.com/company/trialbee) Trialbee is an independent software company dedicated to delivering solutions and services to the pharmaceutical industry. Sweden $8.2M - [*C* **Conveneer**](https://millionrounds.com/company/conveneer) Conveneer offers software products for direct content dissemination between mobile phones, digital assistants, laptops, and computers. Sweden $5.8M - [**eBuilder**](https://millionrounds.com/company/ebuilder) EBuilder provides an IT-based business process outsourcing platform to optimize processes in corporations and public sector agencies. Sweden $5.6M - [**Zaplox**](https://millionrounds.com/company/zaplox) Zaplox is a trusted provider of digital guest solutions for the hospitality industry. Sweden $5.5M - [**Decuma AB**](https://millionrounds.com/company/decuma-ab) Decuma AB develops and markets customized software solutions for the handwriting recognition technology applications. Sweden $3.5M - [**ZeroPoint Technologies**](https://millionrounds.com/company/zeropoint-technologies) ZeroPoint Technologies is a semiconductor intelligence company based in Gothenburg, Sweden. Sweden $2.7M - [**Starcounter**](https://millionrounds.com/company/starcounter) Starcounter is a Swedish software development company founded in 2006 and based in Stockholm. Sweden $1.8M ### Advertising & Adtech 5 startups · $26M raised - [*FR* **Funnel Raises**](https://millionrounds.com/company/funnel-raises) Sweden $8.0M - [**Adfenix**](https://millionrounds.com/company/adfenix) Adfenix collect & make sense of the world's real estate data. - $6.0M - [**Keybroker**](https://millionrounds.com/company/keybroker) Keybroker is an online marketing agency interacting with digital channels. Sweden $4.8M - [*W* **Widespace**](https://millionrounds.com/company/widespace) Mobile Widespace is an advertising company that sells ads over mobile devices. Sweden $3.7M - [**Qwaya**](https://millionrounds.com/company/qwaya) Qwaya is a technology company developing tools for paid social media marketing campaigns. Sweden $3.0M ### Telecoms 4 startups · $27M raised - [*F* **Flexenclosure**](https://millionrounds.com/company/flexenclosure) Flexenclosure is a developer of prefabricated modular data centers and intelligent power management solutions for the telecom industry. Sweden $24M - [**Anyfi Networks**](https://millionrounds.com/company/anyfi-networks) Anyfi Networks, based in Sweden, provides mobile Wi-Fi solutions that transforms existing infrastructure into a mobile broadband network. Sweden $1.5M - [**Repeatit**](https://millionrounds.com/company/repeatit) Utforska allt för kontoret på vår webbplats, från kantorsmaterial till inredning och teknologi. Sweden $1.2M - [**Scalado**](https://millionrounds.com/company/scalado) Scalado is a provider of high-performing imaging technologies, applications and engineering services for the camera phone industry. Sweden $656K ### Manufacturing 4 startups · $28M raised - [**AlixLabs**](https://millionrounds.com/company/alixlabs) AlixLabs is a Swedish deep-tech company specializing in Atomic Layer Etch (ALE) technology for semiconductor manufacturing. Sweden $16M - [**Crosser**](https://millionrounds.com/company/crosser) Crosser designs and develops streaming analytics and integration software for any edge, fog, or cloud. Sweden $7.0M - [**Cyrba**](https://millionrounds.com/company/cyrba) Cyrba is a supplier of complete whirlpool systems and bath-and-steam shower components developed and manufactured in Sweden. Sweden $2.9M - [**Freemelt**](https://millionrounds.com/company/freemelt) Freemelt is a 3D-printer materials development company. Sweden $1.6M ### Big Data & Analytics 3 startups · $35M raised - [**FishBrain**](https://millionrounds.com/company/fishbrain) Fishbrain is a technology and social media company based in Stockholm, Sweden, dedicated to sport fishing enthusiasts. Sweden $24M - [**Hopsworks**](https://millionrounds.com/company/hopsworks) Hopsworks is a Stockholm-based company that offers an AI Lakehouse platform, integrating data science, data engineering, and machi Sweden $6.5M - [**Formulate**](https://millionrounds.com/company/formulate) An international team of people dedicated to eCommerce, Import, Export and Distribution. United Kingdom $4.1M ### Cleantech 3 startups · $62M raised - [**Sol Voltaics**](https://millionrounds.com/company/sol-voltaics) Sol Voltaics AB is a development-stage nanotechnology company based in Lund, Sweden, founded in 2007. Sweden $44M - [**Yangi**](https://millionrounds.com/company/yangi) Yangi is a provider of environmentally friendly packaging solutions. Sweden $12M - [**SeaPattern**](https://millionrounds.com/company/seapattern) SeaPattern is a Swedish company pioneering advanced technology to enhance electricity generation in existing hydropower plants and streams. Sweden $5.8M ### Fintech 3 startups · $51M raised - [**Qapital**](https://millionrounds.com/company/qapital) We are not your ordinary investor. Sweden $44M - [**Open Payments**](https://millionrounds.com/company/open-payments) Open Payments is a Swedish fintech startup founded in 2017, headquartered in Stockholm. Sweden $4.5M - [**Limina Investment Management Solution**](https://millionrounds.com/company/limina-investment-management-solution) Order Management System, Portfolio Compliance and Investment Book of Records (IBOR) Sweden $3.0M **How this map is made.** Every startup here has raised money in a round we track that names Industrifonden as an investor, the first in 2003. Each sits under its main sector, read from its rounds, and each sector shows its best-funded first; sectors with fewer than three companies are left off. Rebuilt nightly; updated 15 November 2026. ## More portfolio maps [All portfolios](https://millionrounds.com/portfolio-maps) [VC firm · Sweden **Almi Invest** 117 startups · 12 sectors · $729M](https://millionrounds.com/portfolio-maps/almi-invest-portfolio-map)[VC firm · Sweden **Creandum** 94 startups · 12 sectors · $8.1B](https://millionrounds.com/portfolio-maps/creandum-portfolio-map)[VC firm · Sweden **EQT Ventures** 79 startups · 10 sectors · $5.8B](https://millionrounds.com/portfolio-maps/eqt-ventures-portfolio-map)[Accelerator · Sweden **Norrsken VC** 25 startups · 4 sectors · $1.8B](https://millionrounds.com/portfolio-maps/norrsken-vc-portfolio-map)[Accelerator · Sweden **Propel Capital** 22 startups · 6 sectors · $232M](https://millionrounds.com/portfolio-maps/propel-capital-portfolio-map)[Accelerator · United States **Y Combinator** 2,679 startups · 12 sectors · $111B](https://millionrounds.com/portfolio-maps/y-combinator-portfolio-map) ## Raising from investors like Industrifonden? 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