Startups in Vaud raised CHF 548.6 million in 2022, with more exits than ever before

Swiss startups pulled in CHF 4 billion in venture capital from investors in 2022, up from CHF 3 billion in 2021. Over the same period, young tech firms based in Vaud raised CHF 548.6 million. The growth trend observed in previous years continued despite challenging conditions worldwide. In 2022, more startups in Vaud completed exits than ever before, with 13 young tech firms taken over by private companies.

Startups in Vaud Canton raised CHF 548.6 million across 67 funding rounds in 2022, placing the canton second only to Zurich – and just ahead of Geneva – in terms of startup funding in Switzerland, according to figures published today in the Swiss Venture Capital Report 2022, prepared by in conjunction with the Swiss Private Equity & Corporate Finance Association (SECA) and

Investment in Swiss startups as a whole remained remarkably buoyant in 2022, with young firms raising CHF 4 billion – versus CHF 3 billion in 2021 – despite challenging conditions linked to inflation, the energy crisis, the conflict in Ukraine and global supply-chain issues.

“Total investment in startups in Vaud fell slightly in 2022 from 2021 levels” – see table below – “largely because the number of startup and scaleup exits in the canton hit a new high,” says Patrick Barbey, the director of Innovaud. “Without the takeovers, these firms would likely have attracted investment, adding to last year’s fundraising figures.” In 2022, some 13 startups and scaleups based in Vaud were acquired by private companies, either Swiss or foreign (see list below). This figure underscores Switzerland’s – and Vaud’s – reputation and attractiveness when it comes to technological innovation, economic strength, and academic research. “These exits demonstrate the proven appeal of our region to both entrepreneurs and investors,” says Barbey.

Record number of exits for tech firms

Leading sectors for investment in Vaud (in CHF millions): medtech, digital health, and micro- and nanotechnology

In 2022, startups in Vaud attracted 66.8% of all investment in the Swiss medtech sector. Investors were also drawn to young firms in the digital health and micro- and nanotechnology spaces, which were close behind medtech in terms of total funds raised. Investment in the cleantech sector grew further as well.

Key numbers 2022

Swiss Venture Capital Report