Finnish startups raised the most capital in the Northern Europe in the third quarter, leaving behind the usual market leaders from Sweden, and others countries in the region, Nordic funding data from research firm Funderbeam showed on Friday.
The Finnish firms raised a total of 73 million euros in the July-to-September quarter, boosted by European Investment Bank injection of cash into into Enevo, Frosmo and others. Separately, online analytics firm Verto raised a $16.1 million Series B round.
In Sweden, 35 companies raised a total of 61.8 million euros, with Danish startups raising 40.6 million and Norwegian firms bagging 33.8 million.
Norway’s data was boosted by poLight raising $20 million for its autofocus lens business, while Denmark was lifted by Samlino’s $18 million and Blackwood Seven’s $15 million round.