United States vs Sweden: startup funding compared

The United States. Since 2 June 2025, startups in the United States raised $487.4B across 2,833 rounds, against $3.7B across 91 rounds in Sweden, 132.0 times more. That is 70% and 0.5% of all the capital FundraiseBase tracked worldwide over the period.

2,833 rounds in the United States and 91 rounds in Sweden since 2 June 2025, about 157 and 5 a month.

The median round is $20M in the United States and $6.3M in Sweden, and the average round $172M and $40.6M. The median shows the typical round; the average is pulled up by a few very large ones.

The biggest startup rounds in the United States since 2 June 2025 are OpenAI ($122B, 31 Mar 2026), Anthropic ($65B, Series H, 28 May 2026) and Anthropic ($30B, Series G, 12 Feb 2026).

The biggest startup rounds in Sweden since 2 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).

In the United States, AI ($381.8B, 78% of the capital), Robotics & Hardware ($25.4B, 5%) and Health ($21.5B, 4%) lead. In Sweden, AI ($2.1B, 57% of the capital), Health ($831M, 22%) and Climate & Energy ($383M, 10%) lead.

Early-stage rounds (Pre-Seed, Seed and Series A) make up 57% of rounds in the United States and 55% in Sweden. The United States recorded 883 Pre-Seed or Seed rounds and Sweden 42 Pre-Seed or Seed rounds, with a median of $6M and $2.9M.

Startups in the United States raised $232.3B in 711 Series B or later rounds, 48% of the country's capital. In Sweden, $2.4B in 9 rounds, 65% of the capital.

Y Combinator (178 rounds, 16 led), Andreessen Horowitz (130 rounds, 65 led) and General Catalyst (110 rounds, 39 led) are the most active investors in the United States.

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

63 investors joined rounds in both countries. The most active: Y Combinator (178 in the United States, 4 in Sweden), Andreessen Horowitz (130 in the United States, 3 in Sweden), General Catalyst (110 in the United States, 3 in Sweden), Lightspeed Venture Partners (81 in the United States, 1 in Sweden) and Khosla Ventures (77 in the United States, 1 in Sweden).

San Francisco leads the United States with $133.5B across 529 rounds, ahead of New York ($26.1B). Stockholm leads Sweden with $2.2B across 61 rounds, ahead of Lund ($79.4M).

In the United States, March 2026 ($133.9B). In Sweden, July 2026 ($702M).

In the 90 days to 12 Nov 2026, startups in the United States raised $49.4B across 397 rounds and in Sweden $348M across 12 rounds.

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.