
Industrifonden
Vasagatan 11, Stockholm, 111 91, Sweden
Overview
Industrifonden is a Nordic evergreen venture capital firm with a fund size of $600m, that focuses on early-stage technology and life science companies with international potential. The company works long term with the entrepreneurs we invest in, and have a strong track record of building game changing companies. Industrifonden-backed companies include tech companies Qlik, Arcam, Soundtrack Your Brand, Fishbrain, and life science companies CellaVision, Oncopeptides and AMRA.
- Total investments
- 148
- Lead investments
- 67
- Investments · 12mo
- 10
- Active investors
- 12
Sector focus
- Biotechnology
- Finance
- Financial Services
- Management Consulting
- Venture Capital
Investment portfolio
- Pixelgen Technologies
Participated · Series B · Aug 2026
Pixelgen Technologies commercializes the Proxiome Kit, the first high-throughput platform to map molecular cell architecture at nanoscale resolution using its Proximity Network Assay. The platform reveals how proteins are organized, clustered and localized on the surface of single cells, enabling researchers to study architectural features of cell state, disease and treatment response beyond protein abundance measurements. Pixelgen targets research applications across immunology, hematology, oncology and cell therapy. The company offers accompanying data analysis and visualization software as part of its product portfolio. Founded in 2020 and headquartered in Stockholm, Pixelgen is now scaling commercialization and global expansion following its Series B. Recent funding and board additions aim to support commercial growth, product expansion and digital capabilities.
- Enginio
Led · Equity · Jun 2026
Enginio provides a platform that centralizes consumer activations, campaigns, promotions, loyalty programs and related initiatives, supporting both digital and physical channels. The platform enables brands, agencies and retailers to plan, launch, manage and analyze activations from a single ecosystem, including features for cashback, product bundling, contests and product reviews. Enginio reports an established customer base across 22 European markets and says it already serves established brands in the region. The company aims to double revenue annually over the next five years and is pursuing a shift from a subscription-based model to a full SaaS offering. To support these plans it raised SEK 30 million in its first external investment round. Management cites a large addressable market—an estimated $978 billion global brand activation market expected to double in six to eight years—as the rationale for continued product development and geographic expansion.
- Evam
Led · Series A · May 2026
Evam builds software for blue-light operations used by police, ambulance and rescue services. Its product suite includes in-vehicle decision support and mobile solutions for operational personnel. The company reports deployment in over 100 regions and municipalities across Sweden and the U.K. Evam says its tools form an important part of the alarm chain for emergency services. The firm is focused on broadening its offering and scaling internationally into the global Public Safety market. Evam is headquartered in Stockholm.
- Cellevate
Participated · Equity · Apr 2026
Founded in 2014 in Lund, Cellevate develops proprietary nanofiber materials and the Cellevat3d platform to improve cell growth processes used in the production of biologics and vaccines. The company is commercializing its technology to enable smoother scale-up from laboratory to industrial biomanufacturing, targeting higher yields and lower production costs. Cellevate has adopted quality systems including ISO 9001:2015 and operates GMP processes in cleanroom environments as it moves into commercial supply. Recent funding of SEK 21.3 million (~€2 million) will be used to expand customer adoption and further refine the platform. The company counts support from public and private investors, including Almi Invest, Industrifonden, the EIC Fund and angel backers.
- Nextory
Led · Equity · Feb 2026
Nextory operates a digital platform through which users can read or listen to books on a subscription basis. The company positions itself as a premium alternative in the Nordic and broader European book-streaming market. Management plans to deploy newly raised funds to deepen penetration in existing territories while entering new markets and continuing product development. CEO Shadi Bitar reports that margins improved year-over-year and that the business is growing quickly, with expectations for double-digit revenue growth over the current year. Looking ahead to 2026, the team aims to further accelerate growth. Following the latest financing, the company is valued at SEK 650 million, roughly half of its 2022 valuation. The strengthened balance sheet, combined with improving margins, supports Nextory’s expansion strategy.