# Stegra

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/stegra

- Industry: Materials
- Headquarters: Stockholm, Sweden
- Website: www.stegra.com/
- Total disclosed funding: $363M
- Latest round: Series B (Oct 19, 2022)
- Investors on record: 20

## About

Based in Stockholm, Sweden, and founded in 2020, H2 Green Steel (H2GS AB) presently known as Stegra AB, operates as a decarbonized steel producer by using automation, digitalization, and artificial intelligence. In April 2026, Stegra AB announced that it raised EUR 1.4 billion in venture funding led by returning investor FAM, with participation from other returning investors Temasek, Stichting IMAS Foundation, Altor, Hy24, Just Climate, AMF, AP2, Demea Invest, Kallskar, Kobe Steel, Ltd., Lingotto Innovation Management LLP, Scania CV AB, Schaeffler Group, Security Trading, Stena Metall Finans, and Swedbank Robur. New investors Bolero, SEB Pension, AIP and others. The round was completed in June 2026.

Stegra's core product is green steel, produced through a process that replaces traditional coal-based methods with green hydrogen. This allows the company to refine iron ore into steel with zero carbon emissions, emitting only water vapor. Stegra’s Boden plant is producing this sustainable steel by utilizing green hydrogen and renewable electricity.

The company will use the April 2026 funding to complete construction of its hydrogen-based steel plant in northern Sweden and advance large-scale hydrogen-based direct reduction steel production supported by renewable energy and hydrogen infrastructure.

## Funding rounds

- Series B, Oct 19, 2022, $68M — Altor, AMF Fonder, Kinnevik, Kobe Steel, Ltd., GIC, Hitachi Energy, Schaeffler AG
- Series B, Aug 29, 2022, $190M — GIC, Altor, Swedbank Robur, AMF Fonder, Kingspan Holdings Limited, FAM AB, Stichting IMAS Foundation, Vargas Holding, Marcegaglia Holding SpA, Schaeffler AG
- Series A, Apr 26, 2021, $105M — Altor, Stena Metall Finans, SMS Group GmbH, Mercedes-Benz of Greenwich, EXOR SpA, Scania CV AB, Kingspan Holdings Limited, FAM AB, InnoEnergy, Stichting IMAS Foundation, Vargas Holding, Ferdinand Bilstein GmbH + Co. KG, Marcegaglia Holding SpA

## Investors

- Altor (https://capitalatlas.ai/funds/altor) — Series A, Series B
- Stena Metall Finans — Series A
- SMS Group GmbH — Series A
- Mercedes-Benz of Greenwich — Series A
- EXOR SpA — Series A
- Scania CV AB — Series A
- Kingspan Holdings Limited — Series A, Series B
- FAM AB — Series A, Series B
- InnoEnergy (https://capitalatlas.ai/funds/innoenergy) — Series A
- Stichting IMAS Foundation — Series A, Series B
- Vargas Holding (https://capitalatlas.ai/funds/vargas-holding) — Series A, Series B
- Ferdinand Bilstein GmbH + Co. KG — Series A
- Marcegaglia Holding SpA — Series A, Series B
- GIC — Series B
- Swedbank Robur — Series B
- AMF Fonder — Series B
- Schaeffler AG — Series B
- Kinnevik (https://capitalatlas.ai/funds/kinnevik) — Series B
- Kobe Steel, Ltd. — Series B
- Hitachi Energy — Series B