2017 turned out to be a big year for Swedish tech, both in terms of capital raised and number of rounds. Removing Spotify’s 2016 outlier round from the equation, 2017 saw nearly twice the capital invested into Swedish tech startups.
Median deal sizes continued to increase during the year, indicating that previous years’ numerous seed rounds now have converted to an increasing number of later stage rounds.
While VCs and angel investors remained the most active backers of tech startups, corporate investors showed an increasing appetite. In 2017 corporations and corporate VCs participated in more than one in ten funding rounds, which is a 60% increase compared to 2016. Corporates in finance and media were the most active investors, which corresponds well to the sectors that have so far been particularly challenged by disruptive tech startups.
Domestic investors remained crucial to the ecosystem, as the most active investors across all stages were domestic. Top backers included Almi Invest, Industrifonden and Wellstreet. Interesting to note is that the share of funding rounds with participation from international investors decreased to the lowest level since we started tracking in 2015.
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