Capital raising services in Austria
Austria's VC market is anchored in Vienna and increasingly integrated with the broader DACH capital pool, with cross-border rounds involving German, Swiss and US co-investors now the norm at Series A and beyond.
Bitpanda, GoStudent, Refurbed, Tractive and Storyblok have each demonstrated that Austrian companies can attract international growth capital - and the 2024 FlexCo reform has made Vienna a more structurally competitive domicile for venture-backed businesses.
Flow supports Austrian companies at mid- to late-stage raising growth capital on the best available terms. We run the full end-to-end process: investor preparation, pitch deck, operating and financial model build, and process management from first LP outreach through close - backed by an extensive VC investor network across DACH and key European and US markets.
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VC rounds raised in the last 12 months in Austria
$90M
Median VC valuation (across all stages) in Austria
-
Median VC revenue multiple (across all stages) in Austria
$60M
Largest VC round raised in Austria in the last 12 months
Raising venture capital in Austria
Austria's VC market is mid-sized but well-organised, with Vienna as the centre. AWS Gründerfonds and Speedinvest anchor early-stage; growth-stage activity has scaled with cross-border participation from German, Swiss and US funds.
AVCO-aligned documentation
The Austrian Venture Capital Organisation (AVCO) coordinates industry conventions. Austrian venture rounds typically use AVCO-aligned documentation, with German BVK templates and conventions also influential given the close DACH market integration.
Convertible loans and SAFEs
Convertible loan notes are the standard pre-priced instrument in Austria. SAFEs are used occasionally where the lead investor is US-based. Conversion typically at the next priced round at a discount or capped valuation.
Round structure norms
Priced rounds use 1x non-participating liquidation preference with broad-based weighted average anti-dilution. Founder vesting (4-year, 1-year cliff) is increasingly standard. The new FlexCo company form (2024) simplifies share issues compared to the traditional GmbH notarisation requirement.
AWS co-investment
AWS Gründerfonds co-invests at seed and early Series A alongside private VCs. Its preference structures, information rights and reporting requirements are well-defined and routinely accommodated in round documents.
Foreign investment review
Austria's Investment Control Act (Investitionskontrollgesetz, in force from 2020) requires authorisation for non-EU/EEA investors taking 10%+ stakes in Austrian companies in sensitive sectors - defence, dual-use, AI, critical infrastructure, biotech. Adds notification time and conditions.
Notarised closings (GmbH)
Traditional Austrian GmbHs require notarisation for share transfers and capital increases - slow and expensive. The new FlexCo company form simplifies these mechanics. Most Austrian venture rounds now incur notarial fees unless the company is structured as a FlexCo from inception.
Largest private tech companies in Austria
IMS Nanofabrication valued at $22B is the largest still privately-owned company in Austria.
See all large tech companies in Austria| Logo | HQ | Description | ||||
|---|---|---|---|---|---|---|
IMS Nanofabrication | | IMS Nanofabrication AG develops electron-beam lithography systems for semiconductor mask production. Vienna-headquartered since 2006, the company pioneered multi-beam mask writers like the eMET platform, enabling sub-10nm features for EUV masks used by TSMC and Intel in advanced chip fabrication. | - | - | $22B | |
Bitpanda | | Bitpanda is a Vienna-based digital asset platform founded in 2014 that allows trading of over 600 cryptocurrencies, fractional stocks from NYSE and NASDAQ, and precious metals like gold and silver. Regulated under MiFID II, it serves more than three million users across Europe with 24/7 mobile trading and staking rewards. | Aug-21 | $263M Series C | $4.1B | |
GoStudent | | GoStudent is a Vienna-headquartered online tutoring platform operating in 15 European countries with virtual classrooms for primary through college students in math, languages, and sciences. Tutors deliver one-on-one video sessions using integrated whiteboards and screen sharing, booking over 400,000 lessons monthly. | Aug-23 | $95M | $3.4B |
Startups who recently raised money in Austria
Largest VC round raised recently in Austria was a $24M Series A of nyra health in February 2026.
See all VC rounds in Austria| Logo | HQ | Description | Investors | |||||
|---|---|---|---|---|---|---|---|---|
Feb-26 | nyra health | | Nyra Health is a Vienna-headquartered company that delivers an AI-powered tablet app for neurological therapy based on evidence from research. Launched in 2020, the app supports rehabilitation for conditions like stroke and multiple sclerosis through personalized exercises and progress tracking. Nyra Health operates primarily in Europe, partnering with clinics to integrate its digital therapeutics into standard care protocols. | ArmiraCrane Venture Partners+3 | $24M | - | Series A | |
Feb-26 | Flinn | | Flinn is a Tel Aviv-headquartered startup focused on AI automation for medical device compliance. Its platform streamlines post-market surveillance by automating data collection from electronic health records, adverse event reporting, and vigilances under EU MDR and FDA requirements. Medical device manufacturers reduce manual efforts by 80 percent, handling tasks like signal detection and periodic safety update reports for Class II and III devices. | Bertelsmann InvestmentsCherry Ventures+3 | $20M | - | Series A | |
Jan-26 | vitrealab | | vitrealab is a photonics company commercializing quantum light chips for next-generation displays in 3D, VR, and AR applications. The laser-powered sources deliver high brightness and color accuracy while consuming minimal energy compared to rivals. Operating from vitrealab.com, vitrealab advances integrated photonic devices for immersive visuals. | aws GründungsfondsConstructor Capital+7 | $11M | - | Series A | |
Mar-26 | Another Earth | | Another Earth is a developer of AI-powered simulation platforms for Earth observation data. The San Francisco-based company generates synthetic datasets, scenario models, and predictions for climate monitoring, agriculture, and disaster response. Another Earth integrates satellite imagery from Copernicus and Landsat, training models for change detection and yield forecasting. Clients include NGOs and government agencies tracking deforestation in the Amazon. | Austria Wirtschaftsservice (AWS)Inovexus+4 | $4.1M | - | Seed | |
Apr-26 | Synaps | | Synaps is a web-based architectural tool that allows real-time floorplan drafting and collaborative editing similar to Figma. Launched for architects, it features auto-dimensioning, BIM exports to Revit, and a community gallery with 10,000 shared projects. | Fil Rouge Capital (FRC)Plug & Play | $3.6M | - | Pre-seed | |
Mar-26 | sequestra | | Sequestra is a Gothenburg-based cleantech company commercializing mineral carbonation technology to permanently bind CO₂ into industrial residues like steel slag, incineration ash, and construction waste. Its patented process transforms these materials into carbonated aggregates suitable for concrete and road base applications. Sequestra pilots with steel mills and waste processors in Sweden and the European Union, targeting gigaton-scale CO₂ sequestration. | VSE Beteiligungs | $3.5M | - | Seed | |
Dec-25 | fonio.ai | | fonio.ai is a Vienna-based provider of AI-powered virtual phone assistants launched in 2024. The platform handles inbound calls 24/7 by answering queries, booking appointments, and routing leads while transcribing conversations for CRM integration with tools like HubSpot and Salesforce. It supports multilingual interactions for small businesses in Europe, automating up to 80 percent of customer service tasks. | Christian StieberDaniel Gutenberg+3 | $3.5M | - | Angel | |
Dec-25 | Digicust | | Digicust develops Digital Customs, an AI web app for customs clearance featuring virtual robots, smart declarations via Dexter IDP, document examination with Neo, and Taric code classification. It enables paperless processes for international trade compliance. | Austria Wirtschaftsservice (AWS)Jet Investment+1 | $2.7M | - | Seed | |
Feb-26 | refinq | | Refinq is a platform integrating biodiversity, ecosystem, and physical climate risk data to help organizations assess and manage nature-related risks. | aws GründungsfondsFund F+2 | $2.2M | - | Seed | |
Jan-26 | Sipfront | | Sipfront is a cloud-based testing platform for SIP and VoIP systems. It enables automated creation and execution of call scenarios to validate trunking, call routing, media handling, and signaling compliance. The service supports protocols like SIP, RTP, and WebRTC, assisting telecom operators and VoIP providers in quality assurance. | Airbridge Equity PartnersGernot Singer+3 | $2.1M | - | Seed | |
Apr-26 | Noreja | | Noreja is a Munich-based process mining company emphasizing causal analysis over traditional event logs. The platform integrates ERP data from SAP and Oracle to visualize object-centric processes, identifying bottlenecks via workflow simulations. Noreja targets automotive and logistics firms for KPI dashboards without BPMN expertise. | Gordana McNamaraJan Sprengnetter+2 | $1.3M | - | Seed | |
Feb-26 | Straion | | Straion is a platform providing governance for AI-generated code, embedding company standards and context to boost reliability and reduce rework in enterprise software development. | Marathon Venture Capital | $1.3M | - | Seed | |
Feb-26 | Factorymaker | | Factorymaker is an Austria-based platform for designing and evaluating sustainable industrial layouts and buildings during early planning stages. | 2bXXISTA Science Ventures | $1.3M | - | Pre-seed | |
Mar-26 | Minimist | | Minimist is a software platform streamlining second-hand marketplaces for effortless selling. The system handles listings, pricing recommendations, buyer matching, and transactions for clothing, electronics, and other goods. Targeted at individual and small-scale resellers, it operates as a mobile-first operating system for peer-to-peer commerce. | European Investment FundTilia Impact Ventures | $1.2M | - | Pre-seed | |
Feb-26 | Lystio | | Lystio is an Austria-based AI-driven real estate platform streamlining property rentals and sales through an intelligent marketplace. | - | $600K | - | Seed |
Top VCs and strategic investors in Austria
aws Gründungsfonds, Austria Wirtschaftsservice (AWS), Angels United and Speedinvest funded the most startups in Austria in the last 12 months.
See all VCs in Austria| Logo | HQ | Description | Key portfolio | |||
|---|---|---|---|---|---|---|
aws Gründungsfonds | | aws Gründungsfonds is a Vienna-based venture capital fund targeting Austrian high-growth startups. It provides equity investments during later seed and pre-Series A stages to innovative companies in technology and other sectors. Managed under aws infrastructure, the fund contributes to Austria's startup ecosystem by financing scalable businesses with strong market potential. | refinqvitrealabOPTIMUSE+2 | 11 | Seed | |
Austria Wirtschaftsservice (AWS) | | Austria Wirtschaftsservice is a Vienna-based promotional bank of the Austrian federal government providing financing for SMEs since 1995. It manages the aws SME Fund with €80 million for equity investments in growth-stage companies developing new products or expanding internationally. The agency offers guarantees, loans, and grants totaling over €2 billion annually across sectors like manufacturing and cleantech, supporting over 5,000 firms yearly through 15 regional offices. | Another EarthDigicustSOMAREALITY+2 | 9 | Seed | |
Speedinvest | | Speedinvest is a Vienna-headquartered venture capital firm investing in early-stage tech startups across Europe, Middle East, and Africa. From offices in Berlin, London, Paris, Milan, and Zurich, it backs companies in fintech, mobility, and SaaS like Bitpanda, GoStudent, and Tide with tickets from pre-seed to Series B. The firm leverages a network of 1,000 limited partners for follow-on funding and market expansion. | FlinnRefurbedEmmi AI+2 | 8 | Seed | |
eQventure | | eQventure is an Austrian venture capital firm founded in 2014 with hubs in Austria, Germany, UK, Israel, USA, and China. The firm supplies growth capital, global networks, and operational support to high-tech companies accelerating international expansion. | 2nd CycleResporyaTension.life+2 | 6 | Seed | |
The Austrian Research Promotion Agency | | The Austrian Research Promotion Agency is a Vienna-based funding body for industrial R&D owned by the Republic of Austria since 2004. Known as FFG, it administers €1 billion annually in grants, loans, and tax incentives for projects in ICT, biotech, and mobility. The agency supports over 10,000 applications yearly through programs like Basis Programme and COIN for collaborative innovation networks, partnering with EU Horizon Europe. | Another EarthSynapsSOMAREALITY+2 | 6 | Pre-seed | |
G | Gernot Singer | | Gernot Singer acts as a business angel investing in early-stage ventures across technology and innovation sectors. | SipfrontResporyProofcheck+1 | 5 | Seed |
XISTA Science Ventures | | XISTA Science Ventures is a Zurich-based venture capital firm investing in pre-seed and seed-stage biotech, deep tech startups, and academic spin-offs grounded in scientific and engineering breakthroughs. As lead investors, they offer follow-on funding and hands-on support in technology, finance, legal, IP, and strategy, drawing from a team experienced in research and entrepreneurship. | FactorymakervitrealabSyntropic Medical+2 | 5 | Pre-seed | |
Angels United | | Angels United is an Austria-based angel investment network targeting pre-seed and seed-stage technology companies. The group connects experienced investors with promising startups in fields like software, fintech, and hardware. Operating primarily from Vienna, it facilitates deal syndication and provides mentorship to portfolio companies throughout Europe. | GuardAero2nd Cyclemypaperwork.ai+1 | 4 | Pre-seed | |
HV Capital | | HV Capital is a Munich-headquartered venture capital firm managing €2.8 billion across nine funds over 23 years. It invests €0.5 million to €60 million in 225 European internet and tech startups from seed to growth stages, with portfolio successes including Zalando, Delivery Hero, SumUp, Depop, Enpal, Flixbus, Sennder, and Isar Aerospace. | FlinnAcurastStoryblok+2 | 3 | Series A | |
H | Hermann Futter | | Hermann Futter is the Co-Founder of Angels United, a Vienna-based angel investment network connecting high-net-worth individuals with early-stage startups in Austria. Operating from Wien, he facilitates deal flow in fintech and healthtech sectors through syndicate investments. | Newsrooms.aimypaperwork.aiKickscale | 3 | Pre-seed |
What if not VC? Non-equity funding in Austria
Austria's non-dilutive funding stack is one of the deepest in Europe for its size - between the Forschungsprämie, FFG and AWS programmes, Austrian startups can extend runway substantially with state-backed support before signing a VC term sheet.
Forschungsprämie
14% cash refund on qualifying R&D expenditure with no cap. One of the most generous R&D credits in Europe and often the single largest source of non-dilutive cash for an early-stage Austrian tech company.
AWS programmes
AWS provides grants, guarantees and equity through programmes including aws Preseed (€100k-200k grants), Seedfinancing (loans up to €1M), Double Equity and aws Gründerfonds. Stacks cleanly with the Forschungsprämie and FFG funding.
FFG R&D project funding
FFG provides project-based R&D funding at 35-50% co-financing rates across federal, EU and bilateral programmes. Slow but valuable for deeptech, life sciences and industrial-tech companies with substantial R&D budgets.
Regional financing vehicles
Austrian Länder operate regional financing programmes - Wirtschaftsagentur Wien, Tecnet Equity (Lower Austria), Tyrolean WK, Styrian SFG and others. Programmes vary by region; worth checking the specific Länder of incorporation.
EU funding access
Austrian companies have full access to Horizon Europe programmes - EIC Accelerator grants (up to €2.5M), EIC Pathfinder, Eurostars and others. Slow but materially valuable for deeptech, climate and life-science companies that can wait the 6-12 month process.
Crowdfunding and angel networks
Several Austrian and DACH equity crowdfunding platforms operate alongside dedicated angel networks (austrian angel investors association, INiTS for university spinouts). Used for raises typically €200k-1.5M, often layered on top of a lead investor.
Why Flow Partners as your capital raising advisor?
Kraft KPI-driven narrative
High-growth companies require thorough understanding to accurately capture their value potential. We build compelling, data-driven equity stories that resonate with investors and minimize due diligence intensity.
Move fast and cut the BS
We have a strong appreciation for the power of speed and efficiency when fundraising. Expect a rigorously efficient deal process with minimized management distraction. Founders run the business, we pick up the heavy lifting.
Access relevant investors
Our close relationships with leading late-stage VC and growth equity investors as well as non-traditional capital providers, like family offices and sovereign wealth funds, enable us to find best-fit partners for a given scenario.
Valuation is only one part of the equation
When it comes to growth capital, valuation is only one side of the medal. We help to bridge incentive gaps between founders and investors and make sure you raise money on best possible terms.
We provide capital raising services across Austria and beyond
Sector expertise
Explore our VC fundraising offering across a variety of tech sectors in Austria.
Software
Vertical and horizontal SaaS, AI-native software products, infrastructure SaaS, cybersecurity
AI & ML
Foundation models, AI applications, AI infrastructure, semiconductors, AI consulting
Fintech
Neobanking, online payments, fintech infrastructure, lending platforms, wealth tech, online brokerage, vertical FS software
Consumer internet
Consumer software subscription platforms, edutech, online content, social networks, online dating
Digital media
Streaming platforms, mobile and console gaming, content distribution, digital publishing, VR & AR
E-commerce & marketplaces
Consumer and B2B marketplaces, inventory-based e-commerce, classifieds, lead generation platforms
Consumer products
Direct-to-consumer (D2C) brands, consumer electronics, smart home devices, lifestyle products
Mobility
Ridesharing, micromobility, food delivery, logistics tech, autonomous tech, EV charging infrastructure
Digital health
Digital therapeutics, telemedicine, mental health solutions, EHR and practice management, vertical healthcare SaaS
Industrial technology
Industry 4.0 solutions, 3D printing, climate tech, industrial IoT, robotics, smart manufacturing
Digital infrastructure
Data centers, cloud infrastructure, edge computing, network security, vertical infrastructure SaaS
IT services
Software development and testing, digital transformation, cloud services, advertising agencies, IT support services
Selected case studies
We've advised companies from series A to series D and beyond.
Our capital raising experience spans across various tech sectors and geographies.
We advised Elysian Fields on its investment into Orka, a Reykjavik-based portfolio of online consumer lending platforms, supporting deal structuring and growth-capital deployment in the Icelandic fintech market.
Recently completed VC fundraising projects
Selected capital-raising mandates and prior investment experience.
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Schedule a call ordrop us an email to learn more about our CFO-as-a-service, capital raising and M&A advisory offering.
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We're with you before and after raising VC money: we help you organise your FP&A as fractional CFOs, and coordinate your M&A process.
Fractional CFO in Austria
We integrate into your workflows to help with financial modelling, build out FP&A tech stack, and ultimately provide guidance towards an M&A or raising venture capital.
Learn moreM&A in Austria
We advise winning tech companies on M&A exits, and over the years successfully executed numerous transactions with both financial and strategic buyers.
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