Swiss Tech Funding in H1 2026: Where the €1.1 Billion Went

Swiss technology companies raised more than €1.1 billion in the first half of 2026. The headline figure describes an active market, but the money was far from evenly spread: semiconductors, energy and healthtech attracted the largest sector totals, and several exceptionally large transactions shaped the overall result. 14

Which sectors received the most capital?

Semiconductors led with approximately €281 million, followed by energy at €223 million and healthtech at €220 million. Together, those three reported sector totals equal €724 million. They show where the largest sums landed, not how many companies in each sector received funding. The available figures do not establish a separate H1 total for cleantech or a comparable deal-count ranking for sectors with smaller rounds. 4

The company examples make the pattern tangible: Kandou develops connectivity chips for AI infrastructure; Terralayr develops grid-scale battery storage; and medical-technology companies including CeQur and Polares Medical also appear among the largest recipients. Sector labels can differ between datasets, so these examples should not be treated as an additional, non-overlapping sector breakdown. 1721

What did funding stage and financing type reveal?

A large Series A can outweigh many smaller early-stage deals. Kandou’s $225 million financing was identified as a Series A, while Polares Medical appears as a Series C in Tech.eu’s Q1 funding data. CeQur’s June transaction is classified more broadly as “Series D+,” which does not by itself identify an exact round letter. The provided figures do not support a complete H1 percentage breakdown by stage. 2316

Nor was every reported amount straightforward venture equity. Planetary announced CHF 16 million in Series A equity plus CHF 6 million in credit. SWISSto12’s €73 million was financial support from European Space Agency member states for its HummingSat project. Terralayr’s €192 million headline consists of an initial €112 million investment and an €80 million upsizing option—an important distinction when interpreting how much capital was committed at the outset. 192021

The reported ten largest financings represented roughly two-thirds of the H1 total. That concentration is consistent with broad fundraising activity alongside a small number of capital-heavy projects; it does not mean the typical Swiss tech company raised a large round. The available material does not provide a verified aggregate split among equity, credit, institutional support and other financing types. 1192021

The ten largest reported financings

The ranking below follows the reported H1 list. Amounts retain their reported currencies rather than implying that dollar and euro figures are directly comparable. Where the available sources do not establish a product, funding stage or use of proceeds, those details are left open. 1

1. Kandou — $225 million. The fabless semiconductor company develops high-speed, low-power connectivity technology for AI infrastructure, data centres and consumer electronics. Its March financing was a Series A; Tech.eu’s funding data records it at approximately €194 million. Tech.eu reports that the company intended to scale production of its AI connectivity chips and deepen engagement with infrastructure customers. 1216
2. Terralayr — €192 million. The company develops and operates grid-scale battery storage systems, supported by its LAYR platform for managing stored energy. The financing was intended to grow its storage portfolio, particularly in Germany. Its headline amount includes an €80 million upsizing option in addition to the initial €112 million investment. 1821
3. CeQur — $100 million. CeQur develops medical devices intended to simplify insulin delivery for people with diabetes. Tech.eu’s database records its June 2026 financing at approximately €86 million under the broad “Series D+” category. The provided material does not establish the specific product or spending plan for that H1 round. 37
4. SWISSto12 — €73 million. The satellite-systems and radiofrequency-products manufacturer received support from ESA member states through the HummingSat ARTES partnership project to advance HummingSat industrialisation. This amount should not be described as a conventional venture-equity round. 20
5. BLP Digital — $50 million. Tech.eu identifies the company as a Swiss AI scale-up and reports funding from Goldman Sachs. The available source excerpt does not specify its products, round stage or allocation of the capital. 15
6. Polares Medical — $50 million. The clinical-stage structural-heart company develops transcatheter approaches to mitral regurgitation. Tech.eu classifies its March financing as Series C; the available excerpts do not establish a fuller spending breakdown. 12
7. PAVE Space — $40 million. A Swiss venture-insights report separately records a March financing of CHF 32 million for PAVE Space. The provided material does not establish the transaction’s stage, specific technology or planned use of proceeds. 126
8. NUCLIDIUM — reported at €28.6 million. The clinical-stage radiopharmaceutical company announced a CHF 26 million Series B extension, which its own release valued at approximately €28.4 million. That extension brought its Series B total to CHF 105 million. The €28.6 million figure in the reported ranking and the company’s €28.4 million conversion should not be presented as identical. 125
9. Planetary — nearly €23 million in the reported ranking. The fermentation company’s own financing breakdown is clearer in Swiss francs: CHF 16 million in Series A equity and CHF 6 million in credit. It said the financing would support the expansion of its fermentation infrastructure and licensing platform; the transaction brought its total funding to approximately CHF 32 million. 119
10. Acutronic — $25 million. The company appears in the reported top-ten list, but the supplied source excerpts do not establish the relevant business’s product, financing instrument, stage or intended spending. 1

How to compare the headline totals

A separate Swiss Venture Capital Report counts CHF 1,245.03 million across 123 financing rounds in H1 2026. That figure should not be added to or directly converted into Tech.eu’s more than €1.1 billion without checking the two datasets’ coverage, currencies and treatment of transactions such as options and institutional support. For readers examining individual European deals by company, country, stage and amount, the publicly viewable Tech.eu Funding Explorer provides a starting point; the supplied material does not establish its full access terms. 19182021