Swedish AI Innovation: A Thriving Ecosystem

Before the advent of today’s AI services, the “transformer” technology, the bedrock of large language models, was pioneered. A key figure in this development was Oscar Täckström, a Swede who worked at Google and now at Sana.

However, Täckström is not alone in making significant contributions to the AI landscape. Ali Ghodsi’s Databricks, a company focused on data quality, stands as one of the highest-valued AI-focused private companies, boasting a valuation nearing SEK 600 billion. Peter Welinder, hailing from Skåne, holds a leadership position at OpenAI. Arvid Lunnemark is the mind behind Cursor, the highly touted coding assistant valued at SEK 170 billion.

Perhaps the most remarkable activity is occurring within Sweden itself. New AI startups are emerging frequently, and many have rapidly garnered substantial customer bases and attracted significant investor interest.

Notable Swedish AI Startups

Legora: Founders Sigge Labor, Max Junestrand, and August Erséus recently secured an investment of nearly SEK 800 million. The company provides a platform for legal text research and assistance, aiming to combine legal expertise with AI to streamline legal work. Founded in 2023, it has a valuation of SEK 6.5 billion (May 2025) and reported revenue of SEK 173 million in 2023. Major external owners include Iconiq, General Catalyst, Redpoint Ventures, Benchmark, and Y Combinator.
Lovable: Enables individuals without coding experience to program through “vibe coding.” Founded in 2023, its valuation is currently unknown (as of early July 2025, rumors suggest investors are offering SEK 17 billion). Most recent known revenue (ARR) is SEK 720 million (June 2025). Creandum is a major external owner.
Sana: Develops an AI agent that leverages company data and user tasks. They are also behind “The Swedish AI Reform,” which aims to provide students and the public sector with access to Sana’s technology. Founded in 2016, the company has a valuation of SEK 5.3 billion (October 2024) and reported revenue of SEK 36 million in 2023. Major external owners include Scott Sandell, Menlo Ventures, Sven Hagströmer, and Katarina Martinson.
Tandem Health: Offers assistance with note-taking during doctor-patient meetings. Founded in 2023, its valuation is estimated between SEK 2-3 billion (June 2025). Most recent known revenue (ARR) is SEK 180 million (March 2025). Northzone and Kinnevik are major external owners. Founders are Oliver Åstrand, Oscar Boldt-Christmas, and CEO Lukas Saari.
Listen Labs: Conducts customer surveys using AI for voice interviews and summarization. Based in San Francisco, it was founded in 2023 and has raised SEK 260 million. Most recent known revenue (ARR) is USD 1 million (May 2025). Major external owners include Sequoia, Conviction, Pear VC, Arash “Ash” Pournouri, and Peder Stahle. Founders are Alfred Wahlforss and Florian Juengermann.
Filed: Targets U.S. tax consultants with an AI solution for simplifying complex American tax returns. Founded in 2024, it raised SEK 170 million in May 2025. Most recent known revenue is SEK 3 million (2024). Major external owners include Northzone and Greens Ventures.
Lightbringer: Protects intellectual property and handles patent applications using proprietary software and AI. Valuation is estimated at SEK 250 million (December 2024). Most recent known revenue (ARR) is SEK 4.6 million (December 2024). Major external owners include Luminar Ventures, Alliance VC, and Zenith Ventures.
Talentium: An AI that supports recruitment by searching the web for potential candidates and summarizing their skills and experience. Founded in 2023, it has a valuation of SEK 157 million (November 2024). Most recent known revenue is SEK 1 million (October 2023-2024). EQT Ventures is a major external owner.

Other Swedish-Founded AI Companies to Watch

AI-Bob: Streamlines the construction industry by reviewing blueprints based on Swedish building regulations.
Aris Machina: Founded by Northvolt’s Peter Carlsson and Siddharth Khullar, develops AI tools to optimize manufacturing. Investors include Village Global.
Andon Labs: Secures large-scale AI models; works with Anthropic and reportedly Open AI.
Arkion (formerly Skyqraft): Helps utility companies optimize and adapt their power grids.
Bluebook: “Chat GPT for auditors,” with knowledge of global tax systems.
Buddywise: Prevents workplace accidents using computer vision.
Dema AI: AI tools for e-commerce.
Freda: A secretive AI project by Tink founders Daniel Kjellén and Fredrik Hedberg.
Gilion (formerly Ark Capital): Uses AI to monitor business performance and issue loans. Backers include Annika Falkengren and Jacob de Geer. Raised SEK 500 million for new lending in spring 2025.
Intuicell: Known for its robotic dog project. Backed by Christer Fåhraeus and Navigare Ventures.
Ipercept: AI assistant for machine operators and maintenance teams in industry. Clients include Airbus, Porsche, Saab, Scania, and Toyota.
Kognic: Helps enterprise clients build datasets for machine learning. Most customers are in the auto industry.
Leap: Challenges Lovable for mobile apps.
Modal: Lets AI-focused developers code directly in the cloud.
Normain: Automates manual tasks and boosts productivity for small and middle businesses. Co-owners include Sana founder Joel Hellermark and angel investor Mattias Miksche.
Phyron: Generates car dealership ads in under a minute using photos and vehicle info.
Quartr: Aggregates global public company data. Notable investors: the Dinkelspiel family, Felix Hagnö, Yanno Capital, and Karl-Johan Persson.
Rerun: Combines AI and the physical world for drones, robots, and spatial computing. Clients include Google and Meta. Raised SEK 170 million in seed funding this spring.
Ronja: AI-driven operating system for manufacturing.
Scape: AI-powered CRM system. Recently participated in Y Combinator and raised funds from the Wallenberg family, Legora founder Max Junestrand, and King co-founder Sebastian Knutsson.
Scaleout Systems: Enables machine learning at the edge. Part of NATO’s civil-military tech initiative.
Sics AI: AI brain that controls robots.
Starhive: Automates IT management in large companies.
Stilla: AI agent that automates employee communication.
Strawberry: AI assistants in web browsers.
Tzafon: Builds AI agents and its own language model. Notable backer: OpenAI’s Sam Altman.
Terra Labs: Aims to revolutionize the forestry industry with AI and satellites. Backers include Jacob de Geer and Niklas Adalberth’s Norrsken.
Turbotic: Cuts costs for AI and automation solutions. Mats Qviberg’s Öresund is among the owners.
Validio: Ensures data quality for AI use. Investors include Sven Hagströmer and J12.
Vantel: Automates tasks for the insurance industry.
Vesence: Described as “Cursor for lawyers”. Builds AI agents for professionals.
Vetnio: Automates medical note-taking for veterinarians.
Vionlabs: Video analysis and recommendation tech used by Paramount and Apple.