From Batteries to Neural Networks: Former Northvolt CEO Launches AI Startup and Secures €25M in Funding
Peter Carlsson, founder and former CEO of Swedish battery giant Northvolt, is back on the tech scene—but this time, it’s not about lithium-ion cells. His new venture, tentatively named NeoAI, has secured €25 million in seed funding, including from EQT Ventures and private investors from Scandinavia’s industrial circle.
What’s particularly intriguing is that Carlsson positions the company as a neural network platform for “industrial intelligence,” not just another LLM service but an AI solution designed to optimize processes in manufacturing, energy, logistics, and sustainable supply chains. This isn’t about chatbots—it’s an attempt to rewire the operating systems of heavy and smart industries.
In essence, he’s aiming for something Europe hasn’t yet seen: an industrial AI network stack with vertical integration and full IP protection, tailored for heavy industry rather than just interface tasks. The project already involves several former senior executives from Northvolt and Siemens Digital Industries, with an unnamed “green recycling” company among its pilot clients.
The launch took place in Sweden, but Carlsson’s plans include entering the German and northern French markets and partnering with universities to build a next-generation “industrial dataset.” Meanwhile, talks are underway for potential collaborations with Airbus, ABB, and Bosch on secure AI-automated control systems.
Carlsson’s move is more than a shift in focus—it’s a sign of the times: those who built the infrastructure of the green economy are now constructing its digital neural network. It seems Europe’s industrial AI is finally getting a face—and ambitions.
