LinkedIn Top Startups 2024: The 10 companies on the rise in Sweden

Today, we unveil LinkedIn's annual list of Top Startups, revealing the 10 emerging Swedish companies you should know now. These companies aren’t just growing fast and garnering attention from investors and jobseekers – they’re also building innovative solutions that are shaping the future of their industries, whether it’s developing body scanning technologies or new heat pumps.

The list is built on exclusive LinkedIn data across four key pillars: employee growth; jobseeker interest; engagement within the company and its employees; and how well these startups have pulled talent from Top Companies. To be eligible, companies must be headquartered in Sweden, fully independent, privately held, have 30 or more full-time employees and be seven years old or younger. You can learn more about our methodology at the bottom of this article.

Here are this year’s 10 Top Startups in the Sweden – join the conversation using #LinkedInTopStartups.

All headcounts are provided by the companies, unless marked with an asterisk. Those headcounts are from LinkedIn data.

1. Neko Health

Full-time headcount: 100 | Headquarters: Stockholm | Year founded: 2018 | Most common skills: Medicine, MATLAB, Machine Learning | Most common job titles: Software Engineer, Data Scientist, Medical Doctor | Largest job functions: Engineering, Healthcare Services, Operations | What they do: Neko Health is focused on providing diagnostic solutions through innovative scanning technologies. The company aims to enhance health monitoring and preventive care by combining modern technology with user-friendly platforms, offering individuals and healthcare organisations more comprehensive insights into health and wellbeing.

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2. Stegra (Formerly H2 Green Steel)

Full-time headcount: 246 | Headquarters: Stockholm | Year founded: 2020 | Most common skills: International Business, Energy, Mergers & Acquisitions (M&A) | Most common job titles: Project Manager, Talent Acquisition Specialist, Procurement Manager | Largest job functions: Operations, Program and Project Management, Human Resources | What they do: Stegra uses hydrogen and electricity from renewable sources to produce steel with lower carbon emissions. The company's goal is to transform steel production into a more sustainable and climate-neutral process without compromising on quality or efficiency.

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3. Aira

Full-time headcount: 1200 | Headquarters: Stockholm | Year founded: 2022 | Most common skills: CATIA, Product Development, Machine Learning | Most common job titles: Software Engineer, Product Manager, Mechanical Design Engineer | Largest job functions: Engineering, Product Management, Business Development | What they do: Aira produces heat pumps that can reduce energy costs and cut carbon emissions. The company offers a comprehensive service that includes installation, maintenance and an app for monitoring and controlling its heat pumps.?

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4. Flower

Full-time headcount: 120 | Headquarters: Stockholm | Year founded: 2020 | Most common skills: Machine Learning, Mathematics, Deep Learning | Most common job titles: Business Development Specialist, Data Scientist, Software Engineer | Largest job functions: Engineering, Business Development, Information Technology | What they do: Flower is an energy company that has developed forecasting, optimisation and trading software. The firm is on a mission to stabilise the energy system by enhancing predictability and flexibility.

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5. Ingrid Capacity

Full-time headcount: 50 | Headquarters: Stockholm | Year founded: 2022 | Most common skills: Renewable Energy, MATLAB, Teamwork | Most common job titles: Project Manager, Business Development Manager | Largest job functions: Business Development, Program and Project Management, Operations | What they do: Ingrid Capacity specialises in the development of energy storage batteries that can support the transition to renewable energy. The company is aiming to deploy 400 megawatts of storage capacity at over 20 sites by the end of 2024.

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6. Estrid

Full-time headcount: 61* | Headquarters: Stockholm | Year founded: 2019 | Most common skills: Influencer Marketing, Social Media, Photography | Most common job titles: Outreach Manager, Social Media Manager, Marketing Associate | Largest job functions: Marketing, Customer Success and Support, Community and Social Services | What they do: Estrid is a hair-removal and body-care company that offers sustainable razors and other vegan products including a "Shower and Shave Jelly" through a subscription.?

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7. Cellcolabs

Full-time headcount: 60 | Headquarters: Stockholm | Year founded: 2021 | Most common skills: Cell Culture, Real-Time Polymerase Chain Reaction (qPCR), Laboratory Skills | Most common job titles: Project Manager, Quality Assurance Specialist, Quality Control Engineer | Largest job functions: Business Development, Quality Assurance, Program and Project Management | What they do: Cellcolabs is a biotechnology company specialising in the production and research of mesenchymal stem cells for use in cell therapy and regenerative medicine. The company focuses on making these stem cells more accessible and affordable through large-scale production.

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8. ABC Labs

Full-time headcount: 44* | Headquarters: Stockholm | Year founded: 2020 | Most common skills: Microbiology, Polymerase Chain Reaction (PCR), Cell Culture | Most common job titles: Laboratory Assistant, Software Engineer, Laboratory Technician | Largest job functions: Research, Engineering, Operations | What they do: ABC Labs is a diagnostics company that sells drug and alcohol tests to businesses and healthcare facilities.?

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9. Doconomy

Full-time headcount: 65 | Headquarters: Stockholm | Year founded: 2018 | Most common skills: User Experience (UX), Product Development, Entrepreneurship | Most common job titles: Product Manager, Product Design Consultant, Product Team Manager | Largest job functions: Business Development, Product Management, Engineering | What they do: Doconomy develops digital tools and services that are designed to help individuals and businesses measure and reduce their climate impact. Its platform can be used to generate sustainability reports off the back of financial transactions.?

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10. Juni

Full-time headcount: 133 | Headquarters: Gothenburg | Year founded: 2020 | Most common skills: MATLAB, SQL, Java | Most common job titles: Software Engineer, Account Executive, Customer Success Manager | Largest job functions: Engineering, Finance, Sales | What they do: Juni is a fintech startup offering banking software and tools for finance teams. The platform provides insights, credit solutions and automated financial services.

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You can check out the Top Startups in Australia, Brazil, Canada, France, India, Indonesia, Italy, Netherlands (English & Dutch), Saudi Arabia, Singapore, Spain, Türkiye, the UK and the UAE.?

Methodology

LinkedIn measures startups based on four pillars: employment growth, engagement, job interest and attraction of top talent. Employment growth is measured as percentage headcount increase over methodology time frame, which must be a minimum of 10%. Engagement looks at non-employee views and follows of the company’s LinkedIn page, as well as how many non-employees are viewing employees at that startup. Job interest counts the rate at which people are viewing and applying to jobs at the company, including both paid and unpaid postings. Attraction of top talent measures how many employees the startup has recruited away from any global LinkedIn Top Company, as a percentage of the startup’s total workforce. Data is normalised across all eligible startups. The methodology time frame is 1 July, 2023, through 30 June, 2024.?

To be eligible, companies must be fully independent, privately held, have 30 or more full-time employees, be 7 years old or younger and be headquartered in the country on whose list they appear. We exclude all staffing firms, think tanks, venture capital firms, law firms, management and IT consulting firms, nonprofits and philanthropy, accelerators and government-owned entities. Startups who have laid off 15% or more of their workforce based on corporate announcements or public, reliable sources between 1 July, 2023, and the list launch, are not eligible. These decisions are made by the LinkedIn News team based on company statements and/or reputable news outlets.

About company insights

*Company insights were sourced from LinkedIn Talent Insights. Data reflects aggregated public member data from active LinkedIn profiles in the relevant country and includes full-time employee profiles associated with the company on LinkedIn. We exclude members who identify as part-time or contractors. Headcounts are provided by the companies directly, unless otherwise noted with an asterisk. Those headcounts are based on LinkedIn data. All insights reflect a 12-month time period looking back from July 2024. Skills data was derived from measuring the most frequent skills among a company’s employees. Most common job titles represent the occupations that are most common within each company. Largest job function measures the function area most prevalent within each company.

Reported and proofread by: Sam Shead

Methodology and insights by: Alejandra Budar