Swiss startups have raised more than €2.3bn in funding this year with a big chunk of deals happening in Zurich, according to Sifted data.
Home to one of Europe’s leading spinout centre’s ETH Zurich, the city has taken the lion's share of investment — in deal count (81) and total funding (€487.8m).
Lausanne (27) is a distant second for deal count, followed by Zug (18), Geneva (16) and Basel (14). Other cities run Zurich closer when it comes to total funding, however, as Geneva (€392.4m), Lausanne (€303.4m), Basel (€292.5m) and Zug (€188.5m) round out the top five Swiss cities for money raised.
Healthtech Skycell’s $116m Series D in June is largely to thank for Zurich sitting out in front for total money raised. The 11-year-old company transports medicines and aims to optimise supply chain logistics for pharmaceuticals.
So, which companies are going to be next to grab the limelight? Investors from Redalpine, Carbon Removal Partners, Vsquared, Founderful and Positron Ventures share the non-portfolio companies on their radar.
Harald Nieder, general partner at Redalpine
Witty Machines — Zurich
Witty Machines, founded this year, is developing general-purpose robotic assistants designed to operate in unstructured environments. The startup, which works mainly with food industrial companies, uses off-the-shelf collaborative robots — similar to companies like ABB Robotics and Kuka — that can perform manual tasks in industrial environments.
Its exceptional talent sets it apart — the founders are both ETH alumni, and have deep expertise in AI, robotics and mobile manipulation systems.
Focal Biosciences — Villigen
Focal Biosciences is building a cellular discovery platform that can restore cells to a healthier, younger state by targeting key biological markets (called epigenetic signatures) linked to ageing. This aims to help cells work better to treat age-related conditions and diseases.
The team is well positioned to lead this new field of research with their origins at the Paul Scherrer Institute (PSI) and ETH Zurich.
The startup was founded in 2022 and is based in Villigen — where the PSI is also located.
Manukai — Zurich
Manukai is a copilot for the metal machining industry, aiming to apply advanced algorithms to the manufacturing sector.
Its first product, the CAM Copilot, processes key information such as 3D models and technical drawings. It then uses algorithms to detect machining features and organise the knowledge into a database — helping turn designs into machine instructions faster and more efficiently.
Manuka, founded in 2023, is a spinout from the chair of computational science at ETH Zurich. We’ve seen many copilots coming out of ETH Zurich but a copilot for manufacturing is rare, and it marks an interesting example of bringing the research centre’s scientific excellence to factory floors, thus improving productivity.
Julia Wagner, investment professional at Positron Ventures
Sallea — Zurich
Sallea is a spinout from ETH Zurich which develops edible scaffolds that enable the cultivation of whole cuts of lab-grown meat and fish; the company is also aiming to improve the nutritional profile and texture of the end product. Founder Nicole Kleger was awarded ‘female innovator of the year’ at the 2024 Female Innovation Forum Awards.
Neurosoft Bioelectronics — Geneva
Neurosoft develops minimally invasive brain computer interfaces (BCIs) to gain precise brain data, and monitor and treat individuals with neurological disorders.
The startup is a spinout from the Swiss Federal Institute of Technology Lausanne (EPFL) and is based in Geneva. It has successfully conducted clinical trials on three patients during epilepsy resective surgery.
Depoly — Sion
Depoly is developing a recycling process that aims to convert plastics into raw materials without compromising their quality. Its technology transforms mixed, unclean polyethylene terephthalate (PET) waste — found in daily items like clothing and packaging — into high-quality raw materials like PTA and MEG that are used for producing new plastics.
The startup’s technology aims to eliminate the need for fossil resources, diverting valuable materials from landfills and incineration and contributing to a circular plastic economy. Deploy was recognised as a 2024 Technology Pioneer by the World Economic Forum.
Benedikt von Schoeler, general partner at Vsquared Ventures
Zuriq — Zurich
Zuriq is aiming to overcome the scaling challenges linked to trapped-ion quantum computers — which use charged atoms held in place by electric fields to store and process information much faster than regular computers — by using only static eletrcomagnetic fields to confine the ions. This differs from the conventional method, which is to use radio-frequency oscillating fields.
The startup was launched in April this year and founding team is made up of researchers who gained experience at ETH Zurich.
Apheros — Zurich
Apheros has developed a new type of “metal form” that aims to help in the cooling process of data centres. The material also aims to offer a wide array of applications in other industries, such as automotive and space — where durability of materials is often key.
The company has an all-female founder team with significant experience in material sciences, physical chemistry as well as technology transfer and innovation.
It is a spinout from ETH Zurich, a leading research institution in the field of novel materials, and raised a $1.85m funding round in August.
Alex Stöckl, partner at Founderful
Invariant Labs — Zurich
Invariant Labs aims to make AI agents secure and reliable. For example, it has created an open-source analysis tool, Invariant Analyser, which helps AI agents identify bugs, vulnerabilities and malfunctions in their systems.
The startup was founded this year and is a spinout from ETH Zurich. It also counts General Catalyst among its investors.
Logicstar — Zurich
Logicstar is developing an AI agent for code debugging and software applications. It aims to work alongside engineering teams to autonomously resolve bugs.
The startup, founded in June this year, is a spinout from the Institute for Computer Science, Artificial Intelligence and Technology in Bulgaria — which has a close partnership with ETH Zurich.
Logicstar is also cofounder Boris Paskalev’s second company; he previously launched Deepcode, which provides real-time semantic code analysis using AI tools. Deepcode was acquired by cybersecurity company Synk in 2020 for an undisclosed amount.
Lisa Mangertseder, investment associate at Carbon Removal Partners
CarbonPool — Zurich
CarbonPool is a world-first carbon insurance company that pays its claims in carbon removal credits, rather than cash.
By securing carbon credit projects and buyers against a range of risks, CarbonPool brings security, certainty and bankability to clients’ carbon investments. CarbonPool was founded in 2022, and in 2023 it raised $12m in seed funding.
Neustark — Bern
Neustark turns the world’s largest waste stream — concrete — into a carbon sink by mineralising CO2 in demolished concrete aggregate, thus permanently storing it and removing the CO2 from the atmosphere.
Since its founding in 2019, Neustark has opened 10 operational sites and secured partnerships with industry leaders like Holcim. The company recently raised $69m in an equity round led by Decarbonization Partners, with participation from investors including Blume Equity. UBS supported the round with a debt investment.
UniSieve — Zurich
UniSieve develops advanced membrane filters that separate molecules through a precise sieving mechanism without requiring additional thermal energy.
Its technology can distinguish between molecules differing in size by just fractions of an angstrom — approximately the width of a single atom. This precision in molecular separation offers versatile applications, including carbon capture and chemical feedstock purification.
The companies with missing information were contacted and the data provided is as complete as possible.
