A newly published report confirms that Sweden’s startup scene remains robust despite global economic uncertainty. Key indicators such as the volume of venture capital, the number of unicorns, and level of innovation, continue to stand out.
According to the annual report State of the Swedish Tech Ecosystem, Swedish startups have proven resilient and continue to attract investors. In 2024, startups in Sweden raised €2.4 billion in venture capital, placing the country, yet again, at the top in Europe for venture capital investment per capita.
The climate tech sector in Sweden is identified as one of the strongest in Europe since it has around 500 active companies and six climate tech unicorns*, up to now. Within the sector, venture capital has mostly been directed toward Steel, followed by Green buildings and Bluetech.
First place
More broadly, Sweden continues to rank among the world’s most innovative nations based on the number of unicorns, currently holding the 9th position globally. When considering the number of unicorns produced per capita in Europe, Sweden takes the first place.
* The report defines unicorns as (former) startups that achieved valuation or exit of €/US$ 1 billion or more at one point in time.
More insights
The full report offers deeper insights, definitions and statistics about the Swedish innovation ecosystem. You can access it here: The State of the Swedish Tech Ecosystem.
It has been produced by Dealroom together with Business Sweden, the Swedish Energy Agency, the Swedish Institute, the Swedish Agency for Economic and Regional Growth, Vinnova and Sweden’s Incubators and Science Parks (SISP).
Are you looking for companies providing cleantech solutions? Check out Swedish Cleantech
