October 2026
Largest IoT Public Companies in Sweden
Benchmark revenue and EBITDA valuation multiples for public comps like
HMS Networks, Plejd, Ependion, Smart Eye and Unibap Space Solutions.
 | HMS Networks AB supplies proprietary, patented technology for intelligent industrial communication. It develops and manufactures solutions for connecting industrial products to networks and gateways, thus enabling interconnection between various networks. The group sells products in various countries, including Germany. It generates the majority of its revenue from the USA, Japan, France, China, Sweden, Italy, and other countries. The brands of the company are Anybus, Red Lion, N-Tron, Ewon, Intesis, Ixxat, Owasys, and PEAK-System. | IoT+2 | $56 | +0% | $2.8B | $3B | 8.4x | 29.0x | |
| Plejd AB develops products and services for smart lighting and home automation. | IoT+3 | $88 | -5% | $998M | $988M | 10.5x | 30.9x | |
| Ependion AB is an expansive technology group delivering digital solutions for secure control, management, visualization, and data communication for industrial applications in environments where reliability and high quality are critical factors. Its segments are Beijer Electronics and Westermo business. | $15 | +18% | $493M | $548M | 2.4x | 8.7x | ||
| Smart Eye AB is a provider of Human Insight AI, offering technology that understands, supports, and predicts human behavior in complex environments. The Company delivers multimodal software and hardware solutions that provide deep insights into human behavior. In the automotive sector, its driver monitoring systems and interior sensing solutions enhance road safety and improve the mobility experience. Its eye tracking technology and iMotions biosensor software platform are also used in behavioral research across academic and commercial sectors. | $5 | -43% | $199M | $231M | 5.7x | 472.4x | ||
| Unibap Space Solutions AB is a Sweden based high-tech space company. The company is transforming the space industry through its reliable innovations, hardware, software and services enable and improve space missions carried out by defense, emergency services and commercial companies. | $1 | -- | $65M | $58M | 5.7x | (624.9x) | ||
| LumenRadio AB provide ultra-reliable and ultra-low power device-to-device wireless connectivity for the most business-critical applications. The company's scalable solutions are based on patented wireless technology for lighting control, building automation and industrial communication. | IoT+2 | $5 | -17% | $63M | $51M | 2.1x | 12.8x | |
| Lightning Group AB is a Holding company. Through its subsidiaries, It develops, designs and sells lighting control solutions for large and wireless projects. The company offers LED and LED control. | $0 | +64% | $5M | $6M | 1.0x | (42.3x) | ||
| JonDeTech Sensors AB is engaged in researching and developing the next generation infrared sensor and detector application. The company's sensor enables applications in the mobile industry as well as IOT- applications within Intelligent homes, connected cities, environment- and energy technology, medtech, security solutions. | $0 | -22% | $2M | $3M | 379.3x | (1.2x) | ||
| Median | $5 | -5% | $132M | $144M | 5.7x | 10.8x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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