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Nordic founders build while global pharma cuts
Global pharma sheds jobs again. Novartis cuts 322 roles in New Jersey this month, the latest in a two-year wave that has trimmed over 15,000 positions worldwide. Meanwhile, Nordic founders are raising capital and scaling production at record pace. Swedish rug brand Nordic Knots closed an €86 million round in March, pushing valuation to €1.9 billion. Norway’s 1X opened a California factory in May, aiming to produce 100,000 humanoid robots by 2027. Finland’s Eir Accelerator launched a global women’s health program last month, backed by public and private capital. Pacifico Biolabs raised €7 million in May to convert brewery infrastructure into mycelium protein plants. Adsorbi, another Swedish cleantech, started its first pilot plant in August 2025 to validate air purification tech at scale. The Nordics are not immune to global headwinds, but the region’s founders are moving faster. Capital is flowing into hardware, health, and climate tech. Production is scaling outside the region, often in the US, to secure supply chains and customers. Teams are growing, but only where the unit economics work. For Nordic builders, the playbook is clear. Raise when you can, scale where it counts, and keep the burn rate low. The global downturn is not a pause; it is a filter. The companies that survive will be the ones that ship product, not just pitch decks. This week, map your supply chain. Identify one bottleneck that could derail production in the next six months. Secure a backup supplier or partner, even if it costs more upfront. Speed beats perfection when the market is moving.
researched · 6 sources
12 JulFounders & productreaches nearby
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