Finland's 10 Hottest Startups Raise €163M in 2 Years

Finland is proving that small countries can deliver massive innovation, with a new generation of startups turning bold ideas into real-world solutions.

Ten companies founded since 2023 are already making waves across Europe and beyond. They're working on challenges that matter, from cleaner vehicles to better healthcare, and investors are taking notice.

Distance Technologies is transforming how we see digital information by turning car windshields and other transparent surfaces into 3D displays without glasses. The Helsinki company raised €11.8 million to bring its lightfield technology to defense and automotive customers who need to blend radar, lidar, and thermal data into single coherent views.

Donut Lab is tackling electric vehicle challenges with an all-in-one platform that includes solid-state batteries and in-wheel motors. Their batteries charge faster, last longer, and cost less than traditional lithium-ion options, with €40 million in funding helping them scale production for motorcycles and industrial robots.

In healthcare, Gosta Labs is giving doctors and nurses their time back. The Espoo company's AI platform automates clinical notes and surfaces patient insights in real time, already supporting tens of thousands of appointments with €8.7 million backing its European expansion.

NestAI is building autonomous systems for situations where failure isn't an option. With nearly 100 engineers and €100 million raised, the Helsinki firm creates command and control systems for defense, infrastructure, and security applications using open architectures that prevent vendor lock-in.

Perfat Technologies is reimagining cooking oils by making liquid vegetable fats behave like butter or palm oil without the saturated fat. The food tech company raised €3.5 million to help manufacturers create healthier products that still taste great.

QMill is making quantum computing useful today, not tomorrow. The Espoo startup develops algorithms that work on current quantum hardware, with an AI-powered tool that compresses quantum circuits so they run more efficiently across different platforms.

The Ripple Effect

These startups represent more than business success. They're proof that Finland's combination of world-class universities, strong engineering culture, and public-private collaboration creates an environment where breakthrough ideas can thrive.

The country's ecosystem now attracts international investors who see Helsinki and Espoo as serious innovation hubs alongside Stockholm and Copenhagen. Each company is solving real problems with technologies designed for immediate deployment, not distant futures.

Finland is showing the world that meaningful progress comes from combining deep technical expertise with practical focus on problems that matter.