Swedish private tech startups have raised $1.2 billion in venture investments across 175 deals during the first six months of 2016, more than last year in total, data from Industrifonden Tech Funding Report showed on Monday.

The headline numbers were distorted by massive financing Spotify has raised, but the rise in angel investors activity and the corresponding surge in seed rounds pushed the number of deals well above last year’s level.

Fintech and media were the most interesting sectors in Sweden, seeing 12 percent and 11 percent of all deals, respectively.

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