byFounders has published their Q2 market update for 2024 on the New Nordics venture market.
Key takeaways from the report include:
- Investments in Q2 2024: The total amount of early-stage investments Q2 2024 was EUR 343m vs EUR 183m in Q2 2023. This is an increase of 87%.
- More rounds: Fundraising rounds have had a steady increase of 27% compared to Q2 2023.
- Average investments: Pre-seed & seed rounds continue to be highly dispersed, with a median round size at approximately EUR 2m, while the Series A round dispersion is characterized by a lack of “mega rounds” with funding values on a median round size of approximately EUR 15m.
- Sector focus: Energy & Climate is the most attractive sector with EUR 121m invested. This is more than double the second largest sector, Techbio & Bio, with a total of EUR 60m invested, and in third place Foodtech with EUR 44.
- Diversity is growing: Invested capital in diverse founders is at an all-time high with an increase from Q2 2023 at EUR 33m compared to Q2 2024 with EUR 133m invested in diverse founder teams.
Read the full report here.
Furthermore, EIFO has released their Q2 venture market rapport on the Danish venture market.
Key takeaways from the report include:
- Investments in Q2 2024: The total invested amount in the Danish venture market was DKK 2.6bn, a 26% increase compared to Q1.
- Dominant sector: Fintech accounted for 50% of the total venture capital, with two major rounds raised by Ageras (DKK 612m) and Flatpay (DKK 335m).
- AI investments: Venture investments in AI increased significantly, making up 14% of the capital and 19% of the rounds, with the largest investments going to GetWhy (DKK 237m) and Reshape Biotech (DKK 139m).
- Growing round size: Despite fewer rounds, the average invested amount rose by 55%, reflecting a shift toward later-stage investment round.
Read the full report here.
