40 Hot Swedish AI Startups

Summary

Before today’s AI services came into existence, the so-called ”transformer” technology was developed — the foundation behind large language models. A key figure in that work was Swede Oscar Täckström — then at Google, now at Sana.This is a translated version – the original article in Swedish can be found here: Här är de svenska AI-bolagen alla pratar om Cover about Lovable (Swedish): Reportage inifrån AI-sensationen Lovable But he’s far from the only Swede making a mark in the AI world. Ali Ghodsis’ Databricks, which ensures data quality, is one of the highest-valued AI-focused private companies, with a valuation close to SEK 600 billion. Peter Welinder from Skåne is part of Open AI:s leadership, and behind the ultra-hyped coding assistant Cursor — valued at SEK 170 billion — is Arvid Lunnemark.Interview in Swedish with Arvid Lunnemark: Mattesnillet från Malmö bygger miljardbolag i USA But perhaps the most impressive developments are happening at home. New AI startups seem to launch every day, and several of them have, in just a few months, managed to attract both a large customer base and strong investor interest.Here are a few of them.Legora’s founders Sigge Labor, Max Junestrand, and August Erséus recently secured a massive investment of nearly SEK 800 million.Foto: Press.LovableBusiness: Enables people with no coding experience to program — known as ”vibe coding.”Founded: 2023Valuation: Unknown (as of early July 2025, rumors suggest investors are courting the company with proposals valuing it at SEK 17 billion).Most recent known revenue (ARR): SEK 720 million (June 2025)Major external owner: Creandum.LegoraBusiness: A platform for both research and assistance with legal texts. The company’s stated goal is to help ”combine lawyers’ expertise with artificial intelligence to streamline legal work.”Founded: 2023Valuation: SEK 6.5 billion (May 2025)Most recently reported revenue: SEK 173 million (2023)Major external owners: Iconiq, General Catalyst, Redpoint Ventures...