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Country comparison

Sweden vs Finland: startup funding compared

Since 4 June 2025, startups in Sweden raised $3.7B across 91 rounds, 1.7 times Finland's $2.1B.

SwedenvsFinland
$3.7BCapital raised$2.1B
91Rounds64
$6.3MMedian round$4.5M
0.5%Share of all capital0.3%
55%Early-stage rounds69%

Capital raised running total by month

$3.7B$1.8B Sweden, end of Jun 25: $84.8MSweden, end of Jul: $298MSweden, end of Aug: $529MSweden, end of Sept: $601MSweden, end of Oct: $964MSweden, end of Nov: $985MSweden, end of Dec: $1.4BSweden, end of Jan 26: $1.4BSweden, end of Feb: $1.5BSweden, end of Mar: $2.1BSweden, end of Apr: $2.2BSweden, end of May: $2.2BSweden, end of Jun: $2.2BSweden, end of Jul: $2.9BSweden, end of Aug: $3.4BSweden, end of Sept: $3.6BSweden, end of Oct: $3.7BSweden, end of Nov: $3.7BFinland, end of Jun 25: $58.2MFinland, end of Jul: $89.8MFinland, end of Aug: $92.7MFinland, end of Sept: $477MFinland, end of Oct: $1.4BFinland, end of Nov: $1.5BFinland, end of Dec: $1.7BFinland, end of Jan 26: $1.7BFinland, end of Feb: $1.7BFinland, end of Mar: $1.8BFinland, end of Apr: $1.8BFinland, end of May: $1.9BFinland, end of Jun: $1.9BFinland, end of Jul: $1.9BFinland, end of Aug: $1.9BFinland, end of Sept: $2.1BFinland, end of Oct: $2.1BFinland, end of Nov: $2.1B Jun 25SeptDecMarJunSept
SwedenFinland
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Where the money goes share of capital by sector

Sweden

  • AI57%$2.1B
  • Health22%$831M
  • Climate & Energy10%$383M
  • Fintech4%$164M
  • Other3%$124M
  • Robotics & Hardware2%$62.3M

Finland

  • Health43%$914M
  • Robotics & Hardware23%$496M
  • AI21%$449M
  • Other4%$78M
  • Climate & Energy3%$55.6M
  • Cybersecurity3%$54.5M

Biggest rounds

Sweden

  1. Neko Health $699M 1
  2. Legora $550M 2
  3. Lovable $400M 3

Finland

  1. Oura $900M 1
  2. IQM Quantum Computers $300M 2
  3. Verda $189M 3

Stage mix share of rounds

SwedenFinland
46%Pre-Seed and Seed56%
9%Series A13%
4%Series B5%
5%Series C and later3%
35%Other or undisclosed23%

Most active investors rounds joined

InvestorSwedenFinland
Lifeline Ventures·14
Antler55
Industrifonden7·
Tesi·7
Almi Invest6·
Luminar Ventures6·
byFounders23
Voima Ventures23
Wave Ventures23
Accel4·
Business Finland·4
Chalmers Ventures4·

Startup hubs rounds and capital by city

Sweden

  • Stockholm61$2.2B
  • Lund5$79.4M
  • Nora1$35.3M
  • Gothenburg8$23M
  • Linköping2$11.7M
  • Umea1$8.5M

Finland

  • Oulu2$902M
  • Helsinki33$561M
  • Espoo9$559M
  • Tampere2$18.7M
  • Kouvola1$11.7M
  • Kuopio1$2.9M

Latest rounds

Questions

Which country raised more startup funding, Sweden or Finland?

Sweden. Since 4 June 2025, startups in Sweden raised $3.7B across 91 rounds, against $2.1B across 64 rounds in Finland, 1.7 times more. That is 0.5% and 0.3% of all the capital FundraiseBase tracked worldwide over the period.

How many startup funding rounds were announced in Sweden and Finland?

91 rounds in Sweden and 64 rounds in Finland since 4 June 2025, about 5 and 4 a month.

Are startup rounds bigger in Sweden or Finland?

The median round is $6.3M in Sweden and $4.5M in Finland, and the average round $40.6M and $33.5M. The median shows the typical round; the average is pulled up by a few very large ones.

What is the biggest startup round in Sweden?

The biggest startup rounds in Sweden since 4 June 2025 are Neko Health ($699M, Series C, 15 Jul 2026), Legora ($550M, Series E, 10 Mar 2026) and Lovable ($400M, Series C, 12 Aug 2026).

What is the biggest startup round in Finland?

The biggest startup rounds in Finland since 4 June 2025 are Oura ($900M, Series E, 14 Oct 2025), IQM Quantum Computers ($300M, Series B, 3 Sept 2025) and Verda ($189M, Series B, 22 Sept 2026).

Which sectors attract the most startup funding in Sweden and Finland?

In Sweden, AI ($2.1B, 57% of the capital), Health ($831M, 22%) and Climate & Energy ($383M, 10%) lead. In Finland, Health ($914M, 43% of the capital), Robotics & Hardware ($496M, 23%) and AI ($449M, 21%) lead.

Is Sweden or Finland better for early-stage startups?

Early-stage rounds (Pre-Seed, Seed and Series A) make up 55% of rounds in Sweden and 69% in Finland. Sweden recorded 42 Pre-Seed or Seed rounds and Finland 36 Pre-Seed or Seed rounds, with a median of $2.9M and $3.1M.

How much growth funding (Series B and later) goes to Sweden and Finland?

Startups in Sweden raised $2.4B in 9 Series B or later rounds, 65% of the country's capital. In Finland, $1.6B in 5 rounds, 74% of the capital.

Who are the most active startup investors in Sweden?

Industrifonden (7 rounds, 4 led), Luminar Ventures (6 rounds, 2 led) and Almi Invest (6 rounds) are the most active investors in Sweden.

Who are the most active startup investors in Finland?

Lifeline Ventures (14 rounds, 9 led), Tesi (7 rounds, 1 led) and Antler (5 rounds, 2 led) are the most active investors in Finland.

Which investors back startups in both Sweden and Finland?

17 investors joined rounds in both countries. The most active: Antler (5 in Sweden, 5 in Finland), Voima Ventures (2 in Sweden, 3 in Finland), byFounders (2 in Sweden, 3 in Finland), Wave Ventures (2 in Sweden, 3 in Finland) and General Catalyst (3 in Sweden, 1 in Finland).

Which cities lead startup funding in Sweden and Finland?

Stockholm leads Sweden with $2.2B across 61 rounds, ahead of Lund ($79.4M). Oulu leads Finland with $902M across 2 rounds, ahead of Helsinki ($561M).

Which month brought the most startup funding?

In Sweden, July 2026 ($702M). In Finland, October 2025 ($900M).

How much did startups in Sweden and Finland raise in the last 90 days?

In the 90 days to 6 Nov 2026, startups in Sweden raised $751M across 14 rounds and in Finland $244M across 9 rounds.

Where does this data come from?

FundraiseBase lists startup funding rounds from public announcements: press releases, company posts and news coverage, checked and updated every day. Amounts are in US dollars. Some rounds are never announced, so the figures show what was made public, not every round. Corrections are welcome.

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