byFounders Market Update: New Nordics – Q3 2023

Published 21 December 2023


byFounders, a Danish VC fund, have released their Q3 market update. Key takeaways include:

  • The total amount invested in the New Nordics in Q3 2023 was EUR 228m, a significant increase of 120% from EUR 104m in Q3 2022.
  • Median round sizes are fairly stable from pre-seed to series A, with median in pre-seed rounds at EUR 1.1m, down from EUR 1.4m in Q3 2022, median in seed rounds at EUR 2.6m, down from EUR 3.7m in Q3 2022, and median in series a rounds at EUR 10m matching Q3 2022.
  • Sweden leads the way with 25% of rounds and 44% of capital.

Read the full update here.