Capital raising services in Switzerland
Switzerland's VC market is mid-sized by European standards but commands a premium valuation environment, with cross-border participation from US and European funds consistently supporting the deeptech and life-sciences pipelines out of ETH Zurich and EPFL.
Companies like GetYourGuide, Beekeeper, Climeworks, Acronis, Scandit, Sonar and Numbrs have demonstrated that Swiss companies can raise at international terms - and cross-border Series A and B rounds with US or UK lead investors are now routine.
Flow works with mid- to late-stage Swiss companies raising growth capital on the best possible terms. We bring an extensive VC investor network across DACH, London, New York and the Bay Area, handle end-to-end process management - from preparation through pitch deck and operating and financial model to close - and help founders control deal dynamics from first contact to term sheet.
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VC rounds raised in the last 12 months in Switzerland
$36M
Median VC valuation (across all stages) in Switzerland
65x
Median VC revenue multiple (across all stages) in Switzerland
$237M
Largest VC round raised in Switzerland in the last 12 months
Raising venture capital in Switzerland
Switzerland's VC market is mid-sized but concentrated, with Zurich, Lausanne and Zug as the main hubs. SECA-aligned documentation is standard, with strong cross-border participation from US and European funds especially in deeptech and life sciences.
SECA-aligned documentation
The Swiss Private Equity & Corporate Finance Association (SECA) coordinates industry conventions and publishes model term sheets for Swiss venture rounds. Series A and later typically use SECA-aligned documentation tailored for Swiss AG or GmbH mechanics.
Convertible loans and SAFEs
Convertible loan notes are the standard pre-priced instrument in Switzerland. SAFEs and similar templates are used when the lead 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. Swiss AGs require board and shareholder resolutions plus commercial registry (Handelsregister) filings for share issues.
Cantonal tax structuring
Most Swiss venture rounds involve cantonal pre-rulings on the tax treatment of the company, employee equity plans and any cross-border elements. The choice of canton at the founding stage (Zug, Zurich, Vaud) has multi-year tax consequences worth modelling at incorporation rather than at the first round.
Foreign investment review
Switzerland has no general FDI screening regime today. Sector-specific approvals apply in banking, telecoms and certain critical infrastructure. The federal government has published proposals for a broader FDI screening law - worth monitoring for deals involving non-EU/EEA acquirers in sensitive sectors.
Closing mechanics
Capital increases in Swiss AGs require a notarised resolution and Handelsregister filing. Closings are typically same-day signing and funding with documents executed via DocuSign, followed by post-closing registry filings. Stamp duty (1% on share issues above CHF 1M) applies in some cases.
Largest private tech companies in Switzerland
Sonar valued at $4.7B is the largest still privately-owned company in Switzerland.
See all large tech companies in Switzerland| Logo | HQ | Description | ||||
|---|---|---|---|---|---|---|
Sonar | | SonarSource is a Geneva-headquartered provider of code quality and security analysis tools. Its SonarQube platform scans applications in over 30 programming languages including Java, JavaScript, C++, and Python, integrating with CI/CD pipelines like Jenkins and GitHub Actions. Adopted by more than 400,000 organizations and Fortune 500 firms such as Cisco, Deutsche Bank, and Samsung, the open-source Community Edition and commercial Enterprise Edition detect 5,000+ coding rules to minimize vulnerabilities and technical debt. | Apr-22 | $412M Series B | $4.7B | |
21.co | | 21.co is a Zug, Switzerland-headquartered cryptocurrency enterprise offering user-friendly access to digital assets. As parent of 21Shares, the world's largest issuer of cryptocurrency exchange-traded products listed on the SIX Swiss Exchange, it utilizes the Onyx technology platform for issuance and operations. Founded in 2018, 21.co also oversees Amun for decentralized finance accessibility, with offices in Zurich and New York. | Sep-22 | $25M | $2.0B | |
MindMaze | | MindMaze is a Lausanne-headquartered digital neurotherapeutics company founded in 2012 with offices in Zürich, Ecublens, Switzerland, and San Francisco. It develops medical-grade virtual reality platforms like MindMotionPRO for neurological rehabilitation, offering personalized VR exercises that enhance motor recovery for stroke and brain injury patients. The technology incorporates 3D motion capture, gesture recognition, augmented reality, brain imaging, and neuroscience for intuitive human-machine interfaces. MindMaze's solutions optimize clinician workflows, support therapy dosing, and extend to gaming and brain-computer control applications. | Feb-22 | $105M | $1.5B | |
Climeworks | | Climeworks is a Zurich-based direct air capture company operating modular plants like Orca and Mammoth in Iceland. The technology extracts CO2 from ambient air for permanent underground storage via mineralization with Carbfix, serving corporate net-zero commitments under Puro.earth certification standards. | Jul-25 | $162M | $1.1B | |
Zama | | Zama is a cryptography firm developing open-source fully homomorphic encryption solutions. Based in France, its Zama Protocol supports confidential smart contracts on layer-1 and layer-2 blockchains for applications in payments, tokenization, finance, and decentralized networks. | Jun-25 | $57M Series B | $1.0B | |
Sygnum | | - | Jan-25 | $58M Series C | $1.0B |
Startups who recently raised money in Switzerland
Largest VC round raised recently in Switzerland was a $237M Series D of Oviva in January 2026.
See all VC rounds in Switzerland| Logo | HQ | Description | Investors | |||||
|---|---|---|---|---|---|---|---|---|
Jan-26 | Oviva | | Oviva is an Altendorf-headquartered digital health company delivering app-based programs for type 2 diabetes and obesity management across Europe. Launched in 2013, it partners with the UK's National Health Service to treat over 50,000 patients via personalized coaching from registered dietitians using its platform combining smartphone apps, web portals, and connected devices like scales and glucose monitors. Oviva operates clinics in Zurich, London, and Berlin, demonstrating clinical outcomes such as average 7 kg weight loss and HbA1c reductions while cutting healthcare costs through remote delivery. | A.P. Moller HoldingEGS Beteiligungen+5 | $237M | - | Series D | |
Mar-26 | Kandou AI | | Kandou AI designs high-speed, pin- and energy-efficient chip-to-chip links, SerDes, and related technologies. The company increases bit-rate and reach while reducing power consumption in serial links. Kandou AI's team in Switzerland, the UK, and the US develops approaches for higher bandwidth demands. | Alchip TechnologiesCadence Design Systems+3 | $225M | $400M | Series A | |
May-26 | Windward Bio | | - | Qiming Venture PartnersJanus Henderson Investors+10 | $165M | - | Undisclosed stage | |
Dec-25 | Neural Concept | | Neural Concept is an AI software provider for 3D shape optimization in aerospace and automotive design. Its Shape 3D platform uses generative AI to explore millions of geometries, cutting simulation times by 90%. Lausanne-headquartered and founded in 2018 from EPFL labs, it counts Airbus and Scania as customers for CFD and crash analyses. | AlvenAster+4 | $100M | - | Series C | |
Mar-26 | PAVE Space | | PAVE Space builds in-space transportation and satellite servicing technologies for orbital payload movement. Spacecraft systems use kickstage platforms with propulsion to shift multi-ton loads from low Earth orbit to targets, plus inspection, life extension, docking, and autonomous operations. | ACE Investment PartnersAtlantic Labs+8 | $40M | - | Seed | |
Dec-25 | Real Finance | | Real Finance is a blockchain platform tokenizing real-world assets to enhance liquidity and transparency in global finance. | Frekaz GroupMagnus Capital+1 | $29M | - | Seed | |
Dec-25 | Corintis | | Corintis is a Grenoble, France-based developer of microfluidic liquid cooling solutions for data center chips. The company manufactures cold plates and co-packaged optics cooling for AI accelerators and high-performance compute, offering design platforms for custom integration and production scaling. | Applied Digital | $25M | - | Strategic investment | |
Nov-25 | Gravis Robotics | | Gravis Robotics creates retrofit autonomy systems for heavy construction equipment, equipping excavators and loaders with sensor racks, AI compute, touchscreen interfaces, 3D surveying, terrain-aware excavation, and remote operation capabilities for contractors and rental fleets. | Armada Investment AGHolcim MAQER Ventures+5 | $23M | - | Seed | |
Apr-26 | Planetary | | Planetary is a Switzerland-headquartered infrastructure platform designing and operating bioprocessing facilities for biomass and precision fermentation in alternative proteins. Basel-based, it builds upstream fermentation tanks, downstream purification systems, and formulation labs for clients producing cultivated meat and dairy. Founded in 2021, the company leases turnkey plants in Europe and Asia, enabling partners to reach commercial scale without capital-intensive builds. Planetary holds patents in continuous bioprocessing and serves startups backed by Big Four investors. | arc investorsAstanor Ventures+6 | $20M | - | Series A | |
Apr-26 | Planetary | | Planetary is a Switzerland-headquartered infrastructure platform designing and operating bioprocessing facilities for biomass and precision fermentation in alternative proteins. Basel-based, it builds upstream fermentation tanks, downstream purification systems, and formulation labs for clients producing cultivated meat and dairy. Founded in 2021, the company leases turnkey plants in Europe and Asia, enabling partners to reach commercial scale without capital-intensive builds. Planetary holds patents in continuous bioprocessing and serves startups backed by Big Four investors. | arc investorsAstanor Ventures+6 | $20M | - | Series A | |
Jan-26 | Project 11 | | Project Eleven is a cryptography firm specializing in post-quantum secure algorithms. Headquartered in Zug, Switzerland, it develops NIST-compliant solutions to protect data against quantum computing threats. The company offers SDKs, APIs, and hardware integrations for key exchange, signatures, and encryption. Its PQClean library provides clean implementations of lattice-based and hash-based schemes. Project Eleven partners with enterprises in finance and government sectors, ensuring FIPS 140-3 validation. Established in 2020, it contributes to open-source standards and hosts workshops on quantum-safe migration. | Balaji SrinivasanCastle Island Ventures+8 | $20M | $120M | Series A | |
Apr-26 | Daphne Technology | | Daphne Technology is a Lausanne-headquartered developer of catalyst-free nanotechnology for emission control. Its patented desNOx solution reduces NOx, SOx, and particulate emissions in petrochemical plants, power generation, and marine vessels. Compliant with IMO 2020 regulations, the miniaturized system installs without fuel changes, cutting capital expenses by up to 50 percent compared to selective catalytic reduction. Daphne Technology operates via daphnetechnology.com to serve global shipping fleets. | Shell VenturesTaranis Investment+1 | $19M | - | Undisclosed stage | |
Nov-25 | Cerrion | | Cerrion is a Berlin-headquartered visual AI company optimizing manufacturing with computer vision for process monitoring. Its platform detects deviations in real-time on production lines, automates root cause analysis, and recommends improvements, serving clients in food, pharma, and automotive sectors. Deployed in 100+ factories across Europe and Asia, Cerrion reduces waste by 15 percent on average. Founded in 2020, the software integrates with PLC systems and Siemens MindSphere, incorporating feedback from global production teams for accuracy above 99 percent. | Creandum | $18M | - | Series A | |
Dec-25 | Liom | | Liom is a medtech company developing a needle-free wearable device for continuous biomarker monitoring, beginning with non-invasive glucose tracking. The San Francisco-headquartered startup employs optical spectroscopy and machine learning algorithms to measure interstitial glucose levels in real time. Its patch-style biosensor aims for integration with diabetes management apps for users seeking alternatives to traditional fingerstick methods. | Alejo Costa RibaltaMarc Maurer+2 | $16M | - | Series A | |
Mar-26 | Rivia | | Rivia is a clinical trial operating system that streamlines patient recruitment, site management, and data collection. Zurich-based Rivia addresses inefficiencies in trial execution through digital workflows, supporting pharmaceutical sponsors in Europe with real-time dashboards and regulatory compliance tools. | Amino CollectiveDefiant+3 | $15M | - | Series A |
Top VCs and strategic investors in Switzerland
Venture Kick, Founderful, Zürcher Kantonal Bank and Kickfund funded the most startups in Switzerland in the last 12 months.
See all VCs in Switzerland| Logo | HQ | Description | Key portfolio | |||
|---|---|---|---|---|---|---|
Zürcher Kantonal Bank | | Zürcher Kantonal Bank is Switzerland's primary cantonal bank headquartered in Zurich that fulfills a public-law mandate through its economic, social, and environmental commitments stipulated by cantonal legislation. The bank delivers comprehensive retail and corporate banking services, including mortgages, savings accounts, loans, investment advisory, and wealth management tailored for private individuals, small businesses, and institutional clients across Switzerland. ZKB operates an extensive network of branches primarily in the canton of Zurich while extending digital banking platforms nationwide. Established in 1870, it maintains a dominant position in the domestic mortgage and savings markets with international correspondent banking relationships. | Clee MedicalCompPairHaelixa+2 | 36 | Seed | |
Founderful | | Founderful is Switzerland's leading pre-seed fund launched in 2019 in Zurich, providing fast and founder-friendly capital to top tech entrepreneurs aiming for global market leadership via founderful.com. | Mosaic-SoCLobbyChiral+2 | 29 | Pre-seed | |
Venture Kick | | Venture Kick is a Zurich-based private philanthropic initiative providing pre-seed funding up to 150,000 Swiss francs and structured entrepreneurial training to Swiss startups. Founders pitch up to three times for escalating funding stages, receiving expert jury feedback and access to an international network of entrepreneurs and investors. It has backed 600 projects with 24.9 million francs, resulting in 454 active companies, 6,033 jobs, and 2.49 billion francs in follow-on investment. Alumni founded 55 percent of the TOP 100 Swiss Startup Award 2018 winners. | Dexterous EndoscopesClee MedicalSoverli+2 | 25 | Pre-seed | |
SICTIC | | SICTIC is a Zürich-headquartered non-profit association connecting ICT startups with investors across Switzerland. Operating offices in Lausanne and Ticino, it organizes online matchmaking and pitching events. Recognized as the largest business angel network in Switzerland, SICTIC earned the Best Performing EBAN Member award in 2018. | QalahyptScanvio+2 | 24 | Seed | |
Kickfund | | Kickfund is a Luxembourg-domiciled venture fund investing in Swiss deep-tech startups post-Venture Kick awards. The Zug-managed vehicle participates in pre-seed rounds for hardware and quantum computing ventures, reinvesting proceeds into the Swiss ecosystem. | Clee MedicalTethys Roboticsa-metal+2 | 16 | Seed | |
Spicehaus Partners | | Spicehaus Partners is a Zurich-headquartered venture capital firm investing in Swiss technology startups at seed and Series A stages. The independently owned fund backs companies in fintech, medtech, and robotics, including holdings like AI diagnostics firms in Basel. Active since 2018, Spicehaus Partners supports 20 portfolio ventures with board seats and follow-on funding. | KEMARO AGEx Nunc Intelligencevyzn+2 | 11 | Seed | |
HTGF (High-Tech Gruenderfonds) | | HTGF (High-Tech Gründerfonds) is a Bonn-headquartered seed investor managing EUR 576 million across two funds for technology startups in digital tech, industrial tech, life sciences, chemistry, and software. Established in 2005 as a public-private partnership with the German Federal Ministry of Economics, KfW, and 18 corporate investors, HTGF has backed over 600 companies including robotics, IoT, medtech, and biotech ventures across Germany. | CovaloClee MedicalNeural Concept+2 | 9 | Seed | |
redalpine | | redalpine is a Zurich- and Berlin-based venture capital firm founded in 2006 managing over €1 billion in assets. It invests across Europe in early-stage B2B software and deep tech startups, backing more than 95 companies including N26, Taxfix, Inkitt, 9fin, Carvolution, vivenu, and Infinite Roots through financial and operational support. | Flexion RoboticsForgisLyceum+2 | 6 | Pre-seed | |
BackBone Ventures | | Backbone Ventures is an early-stage venture capital firm with offices in Zurich and Frankfurt am Main. The firm targets pre-seed and seed investments in Germany and Switzerland. Founded in 2018, Backbone Ventures has completed 28 investments across technology startups and recorded three exits. It builds ecosystems around portfolio companies to support founders in scaling operations. | QalaReshape SystemsRTDT Laboratories+2 | 5 | Pre-seed | |
arc investors | | - | PlanetarySparkliZenline AI | 4 | Pre-seed |
What if not VC? Non-equity funding in Switzerland
Non-dilutive funding in Switzerland is concentrated around Innosuisse, cantonal R&D incentives and the depth of the Swiss angel and family-office capital scene. Federal grants are narrower than in the UK or France but still meaningful at early stage.
Innosuisse innovation projects
Innosuisse funds innovation projects in partnership with a research institute, typically up to CHF 1M of project costs covered. Also operates innovation cheques (CHF 15k) and dedicated startup coaching. The main federal non-dilutive option for Swiss tech startups.
Cantonal R&D incentives
Cantonal patent box regimes, super-deductions on R&D spend and reduced rates on qualifying IP-derived income vary by canton - Zurich, Vaud, Zug and Basel-Stadt have the most-used regimes. Worth modelling specifically against the company's canton of registration and main R&D location.
Swiss angel networks
SICTIC, Business Angels Switzerland and the BAS-CH network anchor one of the densest angel scenes in Europe. Used as the primary pre-VC capital source for most structured Swiss seed rounds; tickets typically CHF 25k-500k per investor.
EU funding access (Horizon Europe)
Switzerland's full association with Horizon Europe was restored in 2024, making Swiss companies eligible again for EIC Accelerator grants (up to €2.5M) and EIC Pathfinder programmes. Materially valuable for deeptech and climate-tech companies that can wait the 6-12 month process.
Crowdfunding
Crowdhouse (real estate-focused), Conda Switzerland and Lokalhelden cover Swiss equity and reward-based crowdfunding. Smaller penetration than UK or German equivalents but useful for consumer brands and impact-driven companies.
Venture debt
HSBC Innovation Banking, Kreos Capital and Claret Capital Partners are the main venture debt providers active in Switzerland. Typically deployed post-Series A against ARR or contracted revenue.
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 Switzerland and beyond
Sector expertise
Explore our VC fundraising offering across a variety of tech sectors in Switzerland.
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 Switzerland
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 Switzerland
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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