Record investments in Stockholm tech companies

During the first six months of 2016, more money was invested in Stockholm-based tech companies than during all of 2015 and 2014 together, according to a breakdown by the Nordic Web, a resource on venture capital for the Nordic startup scene.

A total of $1.2 billion was invested between January and June this year, compared to the $892 million that was invested during the whole of 2015, which was also a record year. At the same time, the number of investments increased from 90 in 2015 to 111 so far this year.

“We clearly see that the activity level in the local startup community is increasing and that more international investors are finding their way to Stockholm,” says Joseph Michael, Business Development Manager of Invest Stockholm.

Like last year, companies in financial technology continued to attract most investments, with 20 finalized rounds in total. With groundbreaking firms like iZettle and Klarna, the Swedish capital has become the second leading fintech city in Europe.

The biggest difference in this year’s investments is the focus on healthcare and wellness startups. This sector was second when it came to the number of investments, with 11, and was not even in the most popular list last year.

“There are plenty of great innovations and companies in this space that are now getting global recognition,” Michael says. “This is most likely due to a global trend and increased interest in the health and wellness industry.”

The biggest investments so far this year have been in music streaming service Spotify, mobile advertising firm Widespace, med-tech firm Irras, mobile banking app Tink, health app Lifesum and Universal Avenue, which lets companies access a local sales force on demand.

Significant investments were made by GV, the venture capital arm of Alphabet formerly known as Google Ventures, Index Ventures, Balderton Capital and Accel.

Contact:

Marie Sundström, PR and Marketing Manager, Invest Stockholm

E-mail: marie.sundstrom@extern.stockholm.se

Phone: + 46 76 122 80 50

Joseph Michael, Business Development Manager, Invest Stockholm

E-mail: joseph.michael@stockholm.se

Phone: +46 76 122 80 59