Sifted yesterday reported that the funding of Swedish AI companies so far in 2025 have been €454 million compared to €124 million in 2024.
Of that €445 million has been raised by Lovable and Legora if I read the article correctly. Something looks to be wrong with the data, as that would mean that only €9 million would have been raised by other companies (which is plainly wrong).
However, directionally it seems right. Large amounts of venture/growth capital go into a few breakout startups, like Lovable and Legora, and drown out the steady-state investment level into a range of startups.
So often when a country sees a lot more capital being invested it is not about the country, but about a few specific startups becoming breakout companies.
