Study: Record Amount of Funding for Finnish Deep Tech Companies
Throughout the autumn, media reports have highlighted that total funding raised by Finnish startups is on track to reach a new all-time high. A major share of this is explained by substantial investment rounds raised by Finnish deep tech companies such as Oura, Iceye, IQM and Nest.ai. In contrast, the number of smaller funding rounds below €20 million has been slightly lower than last year.
Despite the generally weak macroeconomic environment, the deep tech sector shows cautiously positive signs. Alongside record-level funding, the combined revenue of Finnish deep tech companies continues its steady growth. Universities are also producing a healthy flow of promising research-to-business projects, strengthening the longer-term outlook for Finnish deep tech.
The rapid development of artificial intelligence is reshaping the technological landscape, and Finnish research-driven deep tech companies are already making broad use of it. According to the survey conducted as part of the study, nearly every interviewed deep tech company either employs AI in its operations or has AI as a core part of its technology.
“Last year we examined how geopolitical shifts were affecting deep tech companies, but the ecosystem has now adapted to the new normal. Deep tech startups targeting dual-use or purely military applications are no longer exceptions, and several new VC funds focused on dual-use and resilience themes are currently being raised. At the same time, the funding environment has become more challenging for certain capital-intensive companies,” says Samppa Sirviö, Investment Manager at Tesi.
More information:
Samppa Sirviö, Investment Manager
firstname.lastname@tesi.fi
+358 50 518 6063