1、Nordics Startup Report 2024Startup&Funding Environment2,850Startups Observed+$18BTotal FundingIcelandNorwaySwedenFinlandDenmark10yObservation PeriodThe observation period results in a data set of 2,850 startupsIn the following section,we analyzed all startups that raised equity venture capital in th

2、e Nordics in the last ten years.The data set results in 2,850 startups that raised a total of$18B between 2014 and 2024.The data was taken from Crunchbase and includes all active startups founded between June 2014 and June 2024 that raised a VC round and received funding through equity or convertibl

3、e notes.A total of 2,850 startups raised venture funding Of the around 14,000 startups incorporated in the last ten years in the Nordics,about 2,850 secured venture capital.This means that 20%of startups raised a round with new investors,securing a total of$18B in venture funding since 2014.Most of

4、the funding went to Swedish companies,with Denmark and Norway making up about half.20%Raised venture capital during the observation period$18BFunding securedFunding Distribution 43%12%1%18%26%DenmarkFinlandIcelandNorwaySwedenThe number of newly funded startups in the Nordics steadily declined The da

5、ta set includes all startups that raised venture capital in some form,including startups that received funding through a convertible note or undisclosed amounts.We can observe that the number of funded startups reached a peak in 2016 and then steadily declined,with a drop in 2021.This is driven by a

6、 more challenging funding environment after 2021 and also due to a delay in startups being featured on Crunchbase.Startups Founded(20142024)01252503755002014*2015201620172018201920202021202220232024*128415228334631535238744941059Deal volume remained high throughout H1 2024Early this year,the number