Finland draws nearly 90% of Nordic defense and dual-use tech venture funding, Danske Bank report finds

• Finland captured nearly 90% of Nordic defense and dual-use technology venture funding since 2020, raising USD 1.6 billion.
• Danske Bank’s report shows Nordic sector funding nearly quadrupled, driven by large financing rounds at IQM and ICEYE.
• Nordic defense and dual-use technology company valuations increased more than tenfold in six years, with Finnish companies leading growth.
• Since 2023, nearly a quarter of Finnish venture funding targeted the sector, Europe’s second-highest share behind Ukraine.
• Nordic investors accounted for 61% of the region’s early-stage sector funding since 2019, highlighting local investors’ central financing role.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Danske Bank A/S published the original content used to generate this news brief on November 05, 2026, and is solely responsible for the information contained therein.