Dealroom, February 2023: Startups & venture capital in the Nordics
Dealroom just launched a new report looking at VC investments into Nordic startups and scaleups.
Nordic startups had their second highest year for VC funding
Despite the inevitable impact of global macro-economic and geopolitical turbulence, Nordic startups had their second highest year for VC funding. With overall activity 50% higher than pre-pandemic figures, it is evident that the Nordicsʼ is one of the top global hubs for VC funding.
"Much of this activity was concentrated on “impact” business, which attracted 35% of all VC investment¹ and helped bring the value of Nordic startups to an impressive $4.3B².
- Sebastian Penn, Head of Nordics at Silicon Valley Bank
Three highlights from the report
- The Nordics are the most impact-focussed startup ecosystem in the world. 35% of VC funding in the Nordics last year went to impact startups
- All five Nordic countries appear in the top 10 European countries for VC funding per capita.
- Norway and Iceland stand out as one of the two Nordic countries where early-stage investment grew. In Norway there was an Increase of 13 percent.