May 19, 2020   |   3min read

Top 5 Scandinavian Startups in 2020

For years now, Scandinavian countries have been developing a steady and mature startup scene. With many talented engineers relocating for free education and healthcare, and Venture Capitalists injecting their assets into promising companies, Sweden has been an important spot on the startup landscape.

When we prepared the list of the top healthcare startups, many of them were from Scandinavia, and it got us researching more. Today, we take a closer look at top startups in Northern U, emphasizing wearables solutions.

Elk Audio

Elk Audio offers the world’s fastest audio operating system in embedded devices and remote networks—Elk Audio OS. The company develops several devices for musicians and businesses wanting to create new digital hardware instruments.

Elk Audio is endorsed by a music hardware and software developer Steinberg, cooperating with the artist of Hans Zimmer caliber. Thanks to the endorsement, Elk solutions are supported in the Virtual Studio Technology Software Development Kit. Since the devices are scalable and adjustable to users’ needs, Elk Audio provides the Development Kit on Rasberry Pie, and the SDK is available on GitHub.

Transparent Speaker

Often speakers beam with power; however, they lack in the design department. Transparent Speaker combines nature with technology to create one-of-a-kind speakers. Its striking design is not only a source of great sound but also a well-crafted addition to your apartment. The inside wiring is visible, but the speakers are wireless, running on Bluetooth. The company expanded its product range with speakers handmade by a fine Swedish carpenter.

Smartwatch wearable device


Tibber’s mission is to make our everyday use of electricity more efficient. With the dedicated mobile application, the Norway-based company’s users can better manage their electricity consumption. The app enables Tibber customers to check weather data, enable smart car charging, selling solar power, and enjoy smart heating. This eco-friendly package is available in Sweden and Norway. However, the company is expanding to new countries, thanks to the secured USD 12 million of VC funding.

Nectarine Health

Nectarine Health developed a wearable device to help those in senior living and independent living facilities. The bracelet can alert caregivers of wearers’ falls, being out of specific area or bed, in real-time and all day long. They can also get insights into the wearers’ habits and patterns that could be otherwise overlooked, with the help of Artificial Intelligence. With the target users in mind, the hardware is lightweight and easy to use. As for the future, Nectarine Health wants to give caregivers insights to sleep patterns and further enhance the analytics of the provided data.


This Stockholm-based company, like Tibber’s solution, wants you to go green with your electricity approach. Watty cares about your peace of mind when you are away from home going about your business. How? Well, have you ever—if only once—panicked because you thought you left the stove on? With Watty, you are always up-to-date with your appliances, thanks to a small A.I.-powered device connected to a dedicated mobile app.

If you are interested in other top startups, we invite you to get to know the best startups in Boston in 2020 and in Berlin.

Tomasz Szymoński

Communication Specialist

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