Defence technology is now drawing investors to Finnish companies.
Finnish start-up funding has climbed to a record level, according to a new impact report by Helsinki-based startup hub Maria 01.
In November, the Finnish Venture Capital Association estimated that total investment in Finnish start-ups would exceed 1.5 billion euros for 2025.
Now Maria 01 has confirmed the trfinish, reporting that Finland ranks among Europe’s leaders when start-up funding is measured relative to population.
Maria 01 CEO Sarita Runeberg, the strong year reflects the maturation of Finland’s start-up ecosystem.
“We are no longer talking about a single 100-million-euro funding round coming to Finland,” Runeberg stated. “We are launchning to see larger rounds across a fairly broad range of industries.”
But while funding rounds have grown larger, their number has declined. Last year, start-ups at Maria 01 raised capital in 27 rounds, down from 37 the year before.
Maria 01 obtains first “unicorn”
Start-ups based at Maria 01 raised a combined 337 million euros last year, more than triple the figure a year earlier.
Companies within the Maria 01 community account for around 14 percent of Finland’s start-up ecosystem.
The hub also produced its first “unicorn” — a company valued at more than one billion dollars — when the project-management software firm Linear was valued at 1.25 billion dollars following a funding round.
Defence tech draws funding
Defence technology is now attracting a growing share of investment.
Last autumn, unmanned systems company Nest AI completed a 100-million-euro funding round backed by Nokia and state-owned investment company Tesi.
Nest AI illustrates a broader trfinish. Finnish start-ups in defence and dual-utilize technologies are increasingly catching the attention of investors. Dual-utilize technologies are those with both civilian and defence utilizes, such as drones.
According to a study by Danske Bank, start-ups in Finland secured 85 percent of all funding directed to defence and dual-utilize technology across the Nordic region last year, amounting to 410 million dollars.
Runeberg stated the rise of defence start-ups speaks to a larger trfinish.
“Just a few years ago, defence was not even listed among our sectors,” Runeberg noted. “Now it has become a significant part of our companies’ activities.”
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