Hardware startup ecosystem
We track 80 organisations in this sector across 6+ countries.
Showing 1–20 of 80 Hardware
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ABC Accelerator
ABC Accelerator was founded in 2015 and is the largest private startup accelerator in South Eastern Europe, based at BTC City in Ljubljana. It runs a three-month programme accepting up to 12 startups per cohort, offering a €25,000 convertible loan and an option for €100,000–€250,000 follow-on investment. To date it has accelerated over 130 startups from 30 countries and helped them raise approximately €30 million in funding. It has been recognised as the best accelerator programme by the Central European Startup Awards.
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AI Summit Brainport 2026
An annual AI summit at the Evoluon in Eindhoven, organised by the Eindhoven AI Systems Institute with Brainport Development. Focused on applied and industrial AI — strong fit for hardware-aligned and deeptech founders in the Brainport ecosystem.
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AINOT Business Angels Network
A network of private investors associated with NOT (Federation of Engineering Associations), supporting early-stage high-growth companies. AINOT runs a structured support program from idea scouting and pre-incubation to equity investment (up to €200k) and follow-ons. How to apply: submit your idea via the online application form on the AINOT website (open intake). Notable focus: deep innovation and engineering-heavy startups, leveraging NOT’s technical expertise to vet and mentor projects.
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Ajax Systems
Overview: Ajax Systems is a leading security technology startup and is now the largest manufacturer of professional security systems in Europe. The company develops and produces a range of smart security devices for homes and businesses - including wireless motion detectors, door/window opening sensors, glass break sensors, fire alarms, flood detectors, and control panels - all connected via Ajax's proprietary radio communication technology. An Ajax security system typically centers around a smart hub and can integrate over 50 different sensors and sirens to provide comprehensive intrusion detection, fire safety, and even smart home automation. The devices are known for their sleek design (winning multiple Red Dot design awards) and reliable performance (long battery life, extended wireless range, resistant to jamming). Users manage the system through Ajax's mobile app, receiving instant alerts and being able to arm/disarm or monitor their property from anywhere. Unlike traditional wired security systems, Ajax's wireless approach allows easy installation and scalability. With its combination of hardware and software, Ajax Systems has effectively become a security platform protecting over 1 million premises in more than 120 countries. Founding Story (2011): Ajax Systems was founded in 2011 in Kyiv, Ukraine by Oleksandr (Alexander) Konotopskyi. Konotopskyi started Ajax in his mid-20s, with a vision to build a security system that was both high-quality and affordable, targeting a gap in the market between cheap unreliable alarms and overly expensive Western systems. In the early days, Ajax was literally a garage startup - the team of engineers hand-soldered the first devices themselves. They focused initially on creating a car alarm and simple motion detectors, but soon pivoted fully to smart home security. The name "Ajax" was chosen to signify agility and strength (after the Greek hero). The company struggled to find capital at first, as Ukraine in 2011 had limited VC presence. In 2015, Ajax got its first external investment of $1M from SMRK, a local fund run by MacPaw's CEO, which allowed scaling production. A major milestone was around 2016 when Ajax launched its second-generation system with the Jeweller radio technology and a polished mobile app - this got attention in European markets. By 2017, Ajax started exporting its devices beyond Ukraine, and a turning point came when it won a prestigious security industry award in the UK, helping build global credibility. The founding story is one of persistence: Konotopskyi has often recounted how many advised him that manufacturing electronics in Ukraine was impractical, but he proved it possible with a highly motivated local team. Product and Innovation: Ajax's product line today includes about 180 products covering intrusion detection (motion, opening, glass break sensors), fire safety (smoke and CO detectors, fire alarm), flood prevention (leak detectors), plus sirens, keypads, panic buttons, and relay modules to control third-party devices. The system connects via radio frequencies (868 MHz band in Europe, etc.) with range up to 2000 meters and has advanced encryption. One of Ajax's innovation points is its proprietary OS Malevich that runs the hubs, enabling over-the-air updates and new features. The Ajax mobile app provides a modern UX that was missing in older alarm systems. Another innovative aspect is battery life - sensors can work 5-7 years on one battery, addressing a pain point of wireless security. Ajax also built a technology called Wings for photo verification - some motion detectors have cameras that can send photos when triggered, so users and alarm companies see if an intruder is present. The target market for Ajax includes both residential customers and small businesses/shops, as well as larger commercial clients (they have a heavier-duty hub for enterprise). The systems are typically sold and installed via a network of 1,100+ authorized security providers/installers globally, rather than direct to consumer only. This channel strategy helped Ajax penetrate traditional security markets in Europe, Asia, and beyond. Traction and Scale: The growth of Ajax Systems has been remarkable, especially post-2015. As of late 2023, Ajax serves over 4 million end users worldwide who rely on its security systems. It has become the top alarm system brand in Europe by units sold - a feat for a Ukrainian company competing with legacy giants. The company's revenue reflects this: in 2023, Ajax's revenue was around UAH 7.5-8.5 billion (Ukrainian hryvnia), roughly $200+ million USD, showing rapid growth from just a few million USD a decade prior. It's been profitable and reinvesting in expansion, now running multiple manufacturing plants. Ajax exports to over 120 countries, with key markets including Italy, Spain, France, the UK, and also growth in the Middle East and Latin America. In Ukraine, Ajax became a market leader, protecting many homes even amid the war. The company's workforce grew to around 2,500 employees (by 2025) spread across R&D centers in Kyiv, hardware development in Kharkiv, and manufacturing facilities in Ukraine and a new plant in Turkey (opened 2022) and recently in Vietnam (opened 2025 to diversify production). These expansions are partly in response to risk management due to regional instability, but also to meet surging global demand. Ajax's products have received numerous awards in the security industry and technology circles for innovation. Funding and Investors: Ajax's funding journey started with local investors. The initial $1M from SMRK in 2015 and early revenues got the company off the ground. A significant boost came in 2019 when Horizon Capital, a U.S.-Ukrainian private equity firm, invested $10 million for a minority stake. This effectively was Ajax's Series A, and it valued the company north of $70M reportedly. Horizon's investment provided growth capital to scale production and international sales. Interestingly, Ajax never took traditional Silicon Valley VC funding; by the time it was on VC radar, it was already profitable and scaling via PE style funding. EBRD also extended some debt financing to Ajax as it expanded manufacturing. Total external funding is relatively modest (about $11M equity and some debt), as the company's strong revenue allowed it to fuel growth internally. PitchBook data shows Ajax's valuation surpassed $100M by 2020, and given the revenue growth, some speculated it could approach unicorn status if valued on a typical tech multiple (though security hardware might have lower multiples). Achievements and Impact: Ajax Systems stands out as one of the most successful hardware startups from Eastern Europe. Achievements include becoming the number 1 security system brand in Europe within 10 years, something even the founder calls "building the Apple of security in Ukraine." The products have achieved a level of reliability that professional security companies trust - over 1,200 security companies (alarm response centers) around the world integrate with Ajax's system to provide monitoring services. Ajax's impact in Ukraine is also profound: it built local manufacturing when many said it was impossible, created thousands of jobs, and became one of Ukraine's top tech exporters. Even during the 2022 Russian invasion, Ajax kept its factories in Ukraine running (with precautions and relocating some lines to safer regions) and supported the war effort by developing an "Air Alarm" app for Ukrainians (in partnership with the government) to warn of missile attacks. This app uses Ajax's expertise in instant mass notification and became a widely used tool, saving lives. Ajax's success has been a beacon for Ukraine's tech industry, proving that a hardware company can scale globally from Ukraine. In recognition, founder Konotopskyi received national awards and is often cited among top Ukrainian entrepreneurs. The company's plans include possibly an IPO in the future once global expansion stabilizes. It continues to innovate - recent new products include automation devices (to control lights, thermostats, etc., moving Ajax towards smart home, not just security). By coupling security with convenience, Ajax is carving out a role in the broader IoT and smart home market. In summary, Ajax Systems transformed from a Kyiv startup into a global security powerhouse, all while keeping its R&D and much of its production in Ukraine, which is a testament to the talent and resilience of Ukrainian engineers and business leaders. Sources: inventure.com.ua, euristiq.com, techukraine.org, ajax.systems.
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Akcelerator Innowacji NOT
Established 2009 by the Polish Federation of Engineering Associations (NOT). Two-stage program for engineering and hardware startups: incubation with mentoring and business modeling, then seed funding up to EUR 200K. Support: expert consulting, seed capital, office space. Scope: National.
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Allterco Robotics (Shelly)
Allterco Robotics, better known through its flagship Shelly brand, is a Sofia-based smart-home hardware company that designs, manufactures, and sells Wi-Fi-connected relays, sensors, and smart-plug devices that have become one of the most popular prosumer home-automation product lines in Europe. Unlike cloud-locked consumer smart-home brands, Shelly devices are designed around local control, open protocols (MQTT, REST, Matter), and compatibility with open-source home-automation stacks like Home Assistant, which has earned the company a strong following among technical users and installers who do not want their lights and shutters depending on a third-party cloud. Allterco is publicly listed on the Bulgarian Stock Exchange and has expanded significantly into European and North American retail channels. It is one of the most interesting examples of European consumer hardware being built out of CEE and a useful counterpoint to the region's software-heavy tech narrative.
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Andrzej Targosz
A serial entrepreneur and community builder, Andrzej founded the PROIDEA foundation which runs major tech conferences. He has been investing as an angel in Polish startups for years and was an early backer of Estimote (IoT beacons), Intelclinic (wearables), and JIVR (e-bikes). Andrzej’s broad network and experience organizing startup events make him a valued mentor-investor. Associated startups: Estimote, Intelclinic, JIVR, Znika (eco-packaging), among others.
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APER Angels
A deep-tech and hardware focused co-investment network founded in 2014 under the APER Ventures fund. APER Angels connects private angel investors with VC funds to pool capital for high-tech startups. They typically invest PLN 250k–5M in early-stage companies, and have backed over 24 startups with ~PLN 50M total. Notable focus: hardware, IoT, and deep-tech startups (often syndicating with APER Ventures).
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Augmenta
Augmenta is an Athens-founded agriculture technology company that developed a real-time, camera- and AI-based variable rate application (VRA) hardware platform for farming. Its multispectral camera system retrofits onto existing agricultural machinery such as tractors, sprayers and spreaders, processing field conditions on the fly to automatically apply the optimal amount of inputs. The aim is to increase yields and reduce unnecessary chemical and fertiliser usage. In March 2023 Augmenta was acquired by CNH Industrial for $110 million and integrated into CNH's precision-technology portfolio, while retaining operations in Greece and the US.
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Axelera AI
Axelera AI is a semiconductor and software company headquartered in Eindhoven, Netherlands, founded in July 2021. It develops AI acceleration hardware and software for inference workloads, spanning edge devices and edge servers. Its flagship Metis AI Processing Unit and next-generation Europa AIPU are paired with the Voyager SDK for model deployment, built on the company's proprietary digital in-memory computing and RISC-V dataflow architecture. The company targets sectors including security, manufacturing, retail, and healthcare, positioning its products as high-performance, power-efficient alternatives to GPUs. In March 2025 it was awarded a EuroHPC grant of up to 61.6 million euro for the DARE project.
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Baku International Innovation Trade Show 2026
A large-scale international innovation trade show at Baku Expo Center, targeting 25,000+ visitors and 350+ exhibitors from 20+ countries. Useful for founders with a product to showcase and those seeking regional distribution or investment connections.
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Buildit
Buildit is a Riga-based hardware and IoT accelerator-VC hybrid founded in 2014, operating as the first accelerator in the Baltics and Nordics focused on physical-device startups. It runs cohort programmes and provides pre-seed funding up to €250k for Latvia-incorporated startups, with seed follow-on up to €1.5M for Baltic and Nordic companies. The firm has made over 120 investments and manages the Buildit Latvia Pre-Seed Fund (2022 vintage). Portfolio companies span energy, health tech, smart living, and robotics, including Aerones.
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Cambridge Mechatronics
Engineering company that designs and licenses precision miniature actuators using patented Shape Memory Alloy (SMA) technology for smartphone camera autofocus/OIS, AR/VR, wearables and medical devices; shipped in 75M+ devices.
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Carl Pei
Co-founder and CEO of Nothing, the London consumer-electronics brand behind the Phone and Ear products. He previously co-founded OnePlus and is one of the most closely followed hardware founders in tech.
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DeepDrive
DeepDrive is the Munich startup that convinced major automakers to rethink the electric motor itself. Its core innovation is a patented dual-rotor motor architecture. In a traditional motor, a single rotor spins inside a fixed stator. DeepDrive's design spins both the internal and external rotor simultaneously, delivering higher torque density and substantially better efficiency. The practical outcome is compelling: EVs can achieve roughly 20% more range with 50% less motor weight, while reducing bill-of-materials costs. By 2026, DeepDrive has moved beyond impressive prototypes to industrialization. The company has reportedly secured series nominations with eight of the top ten global automakers for platform launches in 2028–2029. That level of OEM validation is rare at this stage and signals confidence in both the performance and manufacturability of the design. The company is now focused on building automated production lines in northern Munich to scale output for fleet testing and pre-series runs. A particularly strategic application is the in-wheel motor. Because the dual-rotor unit is compact and lightweight, it can fit inside the wheel hub, freeing up interior volume and enabling fully flat skateboard platforms. That creates new possibilities for autonomous shuttles and urban delivery vehicles where maximizing passenger or cargo space is paramount. It also allows for advanced vehicle dynamics such as torque vectoring without complex drivetrain components, improving both safety and handling. DeepDrive is a classic spin-out from the UnternehmerTUM ecosystem at TU Munich, with early validation support from the XPRENEURS incubator. Its investor base blends strategic automotive capital with deep-tech venture funding: Leitmotif led the Series B, BMW i Ventures provides rare early-stage OEM participation, Continental's corporate VC is a strategic partner for braking and chassis integration, and UVC Partners and Bayern Kapital anchor local support. In 2026, DeepDrive is one of Europe’s most promising hardware deep-tech bets: a motor breakthrough with clear OEM pull, manufacturability momentum, and the potential to reshape EV platform design.
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Dexory
Dexory is a UK-based warehouse intelligence company that combines autonomous mobile robots with AI software to give logistics operators real-time visibility into their inventory. Founded in 2015 as BotsAndUs, it rebranded to Dexory in November 2022 after pivoting toward warehouse inventory intelligence. Its purpose-built robots autonomously scan warehouses and feed data into the DexoryView cloud platform, which builds real-time digital twins of facilities for inventory tracking and operational optimisation. The company serves sectors including third-party logistics, retail, manufacturing, and air cargo, and is headquartered in Wallingford, Oxfordshire.
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DTU Skylab
DTU Skylab is the innovation hub of the Technical University of Denmark, providing students and researchers with prototyping facilities, mentoring, and startup support. The space includes electronics labs, workshops, and maker facilities that help teams build hardware, robotics, and deep tech prototypes. Skylab runs courses, hackathons, and incubation programs that turn student projects into real ventures. It is one of the most important feeders of new engineering startups in Denmark.
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Dutch Precision Week 2026
A week-long programme powered by the Dutch Society for Precision Engineering, spanning the System Engineering Conference, the Dutch International Precision Conference, and the Precision Fair. Relevant for hardware and deeptech founders in precision engineering and photonics.
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Elaphe Propulsion Technologies
Elaphe Propulsion Technologies was founded in 2006 by Andrej Detela and Gorazd Lampič and specialises in in-wheel electric motors for electric vehicles. The company's plug-and-play Elaphe M700 system places the drive motor directly inside the wheel hub, eliminating traditional axles and drivetrains to improve vehicle efficiency and design freedom. Elaphe received €7 million from the Slovenian government in 2021 and has supplied its technology to automotive partners globally, including Aptera. It is headquartered at Technology Park Ljubljana.
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Elinta Charge
Manufactures AC and DC electric vehicle charging stations plus cloud management and payment software for public, residential and fleet use, with deployments across 40+ countries and partners including DHL and Volvo.
