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Switzerland
Startups ranked by AI-estimated valuation

Switzerland’s 50 most valuable startups

Edition 0·Published 18 Oct 2026·Next scheduled update 11 Nov 2026

A quarterly ranking of non-listed Swiss startups that have already raised funds, established by artificial intelligence from public information. The market sets the value; AI models estimate it.

Quarterly Claude · multi-AI consensus from 1 Dec 2026· Method· Order never changed by a human
Listed benchmarks On Holding · Running shoes and apparel (performance consumer tech) · NYSE · ONON (IPO Sep 2021)Sportradar · Sports data and betting technology · Nasdaq · SRAD (IPO Sep 2021)CRISPR Therapeutics · Gene-editing biotech · Nasdaq · CRSP (IPO Oct 2016)Sensirion · Environmental and flow sensors (ETH Zurich spin-off, 1998) · SIX · SENS (IPO Mar 2018)SOPHiA GENETICS · AI platform for genomic and clinical data · Nasdaq · SOPH (IPO Jul 2021)SEALSQ · Post-quantum semiconductors and secure chips (WISeKey spin-off) · Nasdaq · LAES (listed May 2023) Not ranked: no intention is possible on a listed company.
The market at a glance
50companies ranked
51companies on the radar
CHF 2.95bn (about USD 3.5bn at the 2025 average rate)raised in 2025
354 financing roundsrounds in 2025
Swiss startups raised CHF 2.95bn in 2025, up about 24% on 2024, across 354 rounds (broadly stable), led by a record CHF 946M for biotech, a near 150% jump in ICT and more than CHF 1.4bn for early-stage companies. In the first half of 2026 investment fell 15.5% year on year to CHF 1.25bn (about USD 1.54bn) across 123 rounds, with a record of more than CHF 324M for hardware, Vaud ahead of all cantons (over CHF 330M), Zurich historically weak and no large biotech rounds. Sources: Swiss Venture Capital Report 2026 (startupticker.ch / SECA), full year 2025, summary by GGBA, 3 Feb 2026, Swiss Venture Capital Report 2026, CMS commentary (CHF 2,950M), Swiss Venture Capital Report Update 2026 (SECA / startupticker.ch), H1 2026. Intention counters will be shown above a threshold of amount and number of Backers.

National ranking · all sectors

Snapshot18 Oct 2026A snapshot taken on 18 Oct 2026
This ranking shows the startups as they stood on 18 Oct 2026. Funding rounds, valuations and other events announced after that date are not included yet. They will be taken into account in the next edition, scheduled for 11 Nov 2026.
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#CompanySub-sectorKnown fundingEstimated valuation (AI) · rangePool of InterestsInterest: a free, non-binding declaration on a company, or on a sector within an area, made during the free phase of a pool.

Pool: all the Interests declared on the same target. This column shows the number of Backers and the combined amount of their tickets, to validated members only.
Terms for Backers →
BackBacking a startup on Uback (pronounced “you back”) can be done in two ways:

Interest · free: a non-binding declaration that signals your demand for a company or a sector. You can move or withdraw it at any time, with up to 5 at once.

Intention · coming soon: a paid, confirmed declaration, still non-binding. Once its pool reaches critical mass, it is presented to a company by a partner desk.

Neither is an order nor a commitment to invest.
Terms for Backers →
1 ClimeworksZurich · founded 2009
Cut about 22% of staff in May 2025; operates Orca and Mammoth DAC plants in Iceland.
Climate › direct air capture USD 1bn+ raised
Growth equity · USD 160M · Jul 2025 (BigPoint Holding, Partners Group; mainly existing investors)
Last known equity round: Growth equity · USD 162M · Jul 2025 (BigPoint Holding, Partners Group; mainly existing investors)Method Be the first Back
2 SonarGeneva · founded 2008
More than 28,000 enterprise customers reported in 2025; acquired AutoCodeRover (2025) and Tidelift (2024).
Software › code quality and security USD 450M+ raised
Growth round · USD 410M · Apr 2022 (Advent International, General Atlantic, Permira; Insight Partners)
Last known equity round: Growth round · USD 412M · Apr 2022 (Advent International, General Atlantic, Permira; Insight Partners)
Published valuation: USD 4.7bn (Apr 2022)
Method
Be the first Back
3 AcronisSchaffhausen · founded 2003Controlled by EQT
CEO Ezequiel Steiner.
Cybersecurity › backup and cyber protection USD 650M+ raised
Growth round · USD 250M · Jul 2022 (BlackRock; Global Founders Capital, Highland Europe)
Last known equity round: Growth round · USD 250M · Jul 2022 (BlackRock; Global Founders Capital, Highland Europe)
Published valuation: USD 3.5bn (Jul 2022)
Method
Be the first Back
4 OvivaAltendorf · founded 2014
Offices in Zurich, Altendorf, London, Berlin, Potsdam, Warsaw.
Healthtech › digital obesity and diabetes care USD 350M+ raised
Series D · USD 230M · Jan 2026 (Kinnevik; Planet First Partners, A.P. Moller Holding, Lunate, EGS Beteiligungen)
Last known equity round: Series D · USD 234M · Jan 2026 (Kinnevik; Planet First Partners, A.P. Moller Holding, Lunate, EGS Beteiligungen)Method Be the first Back
5 Terra QuantumSt. Gallen · founded 2019
Plans a Nasdaq listing via merger with Axiom Intelligence Acquisition Corp 1, expected in H2 2026.
Deeptech › quantum computing raised
SPAC merger agreement · May 2026 (Axiom Intelligence Acquisition Corp 1), at a USD 3.5bn equity value, not yet completed
No equity round with a disclosed amount.
Published valuation: USD 3.5bn (May 2026)
Method
Be the first
6 Numab TherapeuticsHorgen · founded 2011 Biotech › multispecific antibodies raised
Series C (incl. extensions) · USD 200M · Jan 2025 (Cormorant, Forbion Growth, HBM Healthcare, Novo Holdings; BVF, Octagon, RTW, BlackRock)
Last known equity round: Series C (incl. extensions) · USD 198M · Jan 2025 (Cormorant, Forbion Growth, HBM Healthcare, Novo Holdings; BVF, Octagon, RTW, BlackRock)Method Be the first Back
7 SygnumZurich · founded 2017
FINMA-licensed bank; also licensed by MAS in Singapore.
Crypto › digital asset bank raised
Strategic growth round · USD 58M · Jan 2025 (Fulgur Ventures; existing investors)
Last known equity round: Strategic growth round · USD 58M · Jan 2025 (Fulgur Ventures; existing investors)
Published valuation: USD 1bn (Jan 2025)
Method
Be the first Back
8 Alentis TherapeuticsBasel Biotech › oncology ADCs raised
Series D · USD 180M · Nov 2024
Last known equity round: Series D · USD 181.4M · Nov 2024Method Be the first Back
9 Windward BioBasel · founded 2024
Lead asset WIN378 in-licensed from Kelun-Biotech / Harbour BioMed group.
Biotech › respiratory antibodies USD 365M raised
Crossover · USD 160M · May 2026 (OrbiMed; RA Capital, Janus Henderson, Sanofi Ventures, Harbour BioMed)
Last known equity round: Crossover · USD 165M · May 2026 (OrbiMed; RA Capital, Janus Henderson, Sanofi Ventures, Harbour BioMed)Method Be the first Back
10 Vaderis TherapeuticsBasel Biotech › rare vascular disease raised
Series B · USD 150M · Aug 2026 (Goldman Sachs Alternatives (Life Sciences), TCGX; Omega Funds, EQT Life Sciences, Perceptive Advisors, Kalehua Capital)
Last known equity round: Series B · USD 152M · Aug 2026Method Be the first Back
11 ScanditZurich · founded 2009
ETH Zurich spin-off; customers in retail, transport and logistics, healthcare.
AI › smart data capture USD 300M raised
Series D · USD 150M · Feb 2022 (Warburg Pincus)
Last known equity round: Series D · USD 150M · Feb 2022 (Warburg Pincus)
Published valuation: USD 1bn (Feb 2022)
Method
Be the first Back
12 DistalmotionLausanne · founded 2012
Dexter is used in hospitals in Europe and the United States.
Medtech › surgical robotics raised
Series G · USD 150M · Nov 2025 (Revival Healthcare Capital; existing investors)
Last known equity round: Series G · USD 150M · Nov 2025 (Revival Healthcare Capital; existing investors)Method Be the first Back
13 Noema PharmaBasel · founded 2020 Biotech › CNS drugs raised
Series B (incl. extension) · USD 150M · Dec 2024 (Forbion, Jeito Capital; EQT Life Sciences)
Last known equity round: Series B (incl. extension) · USD 147M · Dec 2024 (Forbion, Jeito Capital; EQT Life Sciences)Method Be the first Back
14 TerralayrZug · founded 2022
Four batteries connected and ten under construction (150 MW).
Energy › battery storage raised
Growth equity · USD 130M · Jan 2026 (Eurazeo; RIVE Private Investment)
Last known equity round: Growth equity · USD 131M · Jan 2026 (Eurazeo; RIVE Private Investment)Method Be the first Back
15 NuclidiumBasel Biotech › radiopharmaceuticals raised
Series B (incl. extension) · USD 130M · May 2026
Last known equity round: Series B (incl. extension) · USD 131M · May 2026Method Be the first Back
16 GlycoEraWädenswil
Also has an office in Newton, Massachusetts.
Biotech › autoimmune protein degraders raised
Series B · USD 130M · May 2025 (Novo Holdings; Catalio Capital Management, Bristol Myers Squibb)
Last known equity round: Series B · USD 130M · May 2025 (Novo Holdings; Catalio Capital Management, Bristol Myers Squibb)Method Be the first Back
17 AMINAZug · founded 2018
2024 revenue USD 40.4M; quarterly profit from Q4 2024 (company).
Fintech › crypto bank USD 245M raised
Series C · USD 120M · Jan 2022
Last known equity round: Series C · USD 120M · Jan 2022Method Be the first Back
18 EcorobotixYverdon-les-Bains · founded 2014 Agtech › precision spraying raised
Series D · USD 100M · Oct 2025 (Highland Europe; ECBF, McWin)
Last known equity round: Series D · USD 105M · Oct 2025 (Highland Europe; ECBF, McWin)Method Be the first Back
19 Neural ConceptLausanne · founded 2018
EPFL spin-off; customers in automotive, aerospace, energy, semiconductor and defence.
Software › AI for engineering USD 130M+ raised
Series C · USD 100M · Dec 2025 (Goldman Sachs Alternatives; Forestay Capital, Alven, HTGF, D. E. Shaw Ventures)
Last known equity round: Series C · USD 100M · Dec 2025 (Goldman Sachs Alternatives; Forestay Capital, Alven, HTGF, D. E. Shaw Ventures)Method Be the first Back
20 Granite BioBasel Biotech › immunology antibodies USD 100M raised
Series A + B · USD 100M · Apr 2025 (Versant Ventures, Novartis Venture Fund; Forbion, Sanofi Ventures)
Last known equity round: Series A + B · USD 100M · Apr 2025 (Versant Ventures, Novartis Venture Fund; Forbion, Sanofi Ventures)Method Be the first Back
21 AsceneuronLausanne Biotech › neurodegeneration raised
Series C · USD 100M · Jul 2024
Last known equity round: Series C · USD 100M · Jul 2024Method Be the first Back
22 Bright Peak TherapeuticsBasel Biotech › immuno-oncology raised
Series C · USD 90M · Jun 2024 (Johnson & Johnson Innovation – JJDC; existing investors)
Last known equity round: Series C · USD 90M · Jun 2024 (Johnson & Johnson Innovation – JJDC; existing investors)Method Be the first Back
23 RhyGazeBasel
Spin-out of the Institute of Molecular and Clinical Ophthalmology Basel (IOB); also present in Philadelphia.
Biotech › ophthalmic gene therapy raised
Series A · USD 86M · Jan 2025 (GV (Google Ventures))
Last known equity round: Series A · USD 86M · Jan 2025Method Be the first Back
24 Mosanna TherapeuticsBasel · founded 2022
Also has an office in Redwood City, California.
Biotech › sleep apnea raised
Series A · USD 80M · Jun 2025 (EQT Life Sciences, Pivotal bioVenture Partners; Forbion, Broadview, Norwest)
Last known equity round: Series A · USD 80M · Jun 2025 (EQT Life Sciences, Pivotal bioVenture Partners; Forbion, Broadview, Norwest)Method Be the first Back
25 Kandou AILausanne · founded 2011
Founded by Amin Shokrollahi (EPFL); CEO Srujan Linga.
Deeptech › AI chip interconnect USD 500M+ raised
Growth round · USD 220M · Mar 2026 (SoftBank Group, Synopsys, Cadence Design Systems, Maverick Silicon; Alchip Technologies)
Last known equity round: Growth round · USD 225M · Mar 2026 (SoftBank Group, Synopsys, Cadence Design Systems, Maverick Silicon; Alchip Technologies)
Published valuation: USD 400M (Mar 2026)
Method
Be the first Back
26 RoomPriceGenieZurich · founded 2017
About 3,000 hotel clients in 65 countries (2025).
Software › hotel revenue management raised
Growth equity · USD 75M · Feb 2025 (Five Elms Capital)
Last known equity round: Growth equity · USD 75M · Feb 2025 (Five Elms Capital)Method Be the first Back
27 PlantedKemptthal (Zurich) · founded 2019
ETH Zurich spin-off; bought Ascentys in 2025.
Foodtech › plant-based meat raised
Series B · USD 72M · Sep 2022 (L Catterton)
Last known equity round: Series B · USD 72M · Sep 2022 (L Catterton)Method Be the first Back
28 Swissto12Renens (Lausanne) · founded 2011
Also received EUR 73M of ESA programme funding (HummingSat, ARTES) in January 2026, which is not equity.
Space › small GEO satellites raised
Series C · USD 70M · Jul 2026 (Swisscom Ventures, Swisscanto Invest)
Last known equity round: Series C · USD 70M · Jul 2026 (Swisscom Ventures, Swisscanto Invest)Method Be the first Back
29 CutissSchlieren · founded 2017 Medtech › tissue engineering CHF 125M+ raised
Series C · USD 70M · Sep 2025 (Family office of Giammaria Giuliani and a US family represented by Shiloh Advisors; family offices, Swisspreneur investors, Rode Kruis Ziekenhuis)
Last known equity round: Series C · USD 70M · Sep 2025 (Family office of Giammaria Giuliani and a US family represented by Shiloh Advisors; family offices, Swisspreneur investors, Rode Kruis Ziekenhuis)Method Be the first Back
30 NeustarkBern · founded 2019 Climate › carbon removal (mineralisation) raised
Series B · USD 69M · Jun 2024 (Decarbonization Partners (BlackRock and Temasek))
Last known equity round: Series B · USD 69M · Jun 2024Method Be the first Back
31 TaurusGeneva · founded 2018 Crypto › digital asset infrastructure USD 75M+ raised
Series B · USD 65M · Feb 2023 (Credit Suisse; Deutsche Bank, Pictet)
Last known equity round: Series B · USD 65M · Feb 2023 (Credit Suisse; Deutsche Bank, Pictet)Method Be the first Back
32 HAYA TherapeuticsLausanne Biotech › RNA medicines raised
Series A · USD 65M · May 2025 (Sofinnova Partners, Earlybird; Eli Lilly, ATHOS, +ND Capital, Alexandria)
Last known equity round: Series A · USD 65M · May 2025 (Sofinnova Partners, Earlybird; Eli Lilly, ATHOS, +ND Capital, Alexandria)Method Be the first Back
33 ReproNovoLausanne · founded 2021
Also has a base in Copenhagen.
Biotech › women's health raised
Series A · USD 65M · May 2025 (Jeito Capital; AXA IM Alts, M Ventures)
Last known equity round: Series A · USD 65M · May 2025 (Jeito Capital; AXA IM Alts, M Ventures)Method Be the first Back
34 ANYboticsZurich · founded 2016
ETH Zurich spin-off.
Robotics › legged inspection robots USD 150M+ raised
Series C extension · USD 60M · Dec 2024 (Aramco Ventures, Bessemer, NGP Capital, Qualcomm Ventures)
Last known equity round: Series C extension · USD 60M · Dec 2024 (Aramco Ventures, Bessemer, NGP Capital, Qualcomm Ventures)Method Be the first Back
35 FrontifySt. Gallen · founded 2013 Software › brand management USD 80M+ raised
Series C · USD 50M · Sep 2021 (Revaia; HighSage Ventures, EQT Ventures, Blossom Capital, Tenderloin Ventures)
Last known equity round: Series C · USD 50M · Sep 2021 (Revaia; HighSage Ventures, EQT Ventures, Blossom Capital, Tenderloin Ventures)Method Be the first Back
36 Flexion RoboticsZurich · founded 2024 Robotics › humanoid autonomy software USD 57M raised
Series A · USD 50M · Nov 2025 (DST Global Partners; NVentures (NVIDIA), redalpine, Prosus Ventures, Moonfire)
Last known equity round: Series A · USD 50M · Nov 2025Method Be the first Back
37 Polares MedicalLausanne · founded 2015
Over 70 patients treated in clinical trials of its MRace system.
Medtech › structural heart raised
Series C · USD 50M · Apr 2026 (DC Global Ventures; Lumination Partners)
Last known equity round: Series C · USD 50M · Apr 2026 (DC Global Ventures; Lumination Partners)Method Be the first Back
38 FoRx TherapeuticsBasel Biotech › oncology (DNA damage response) raised
Series A · USD 50M · Dec 2025
Last known equity round: Series A · USD 50M · Dec 2025Method Be the first Back
39 vVARDISZug · founded 2014 Medtech › dental raised
Growth · USD 50M · Jul 2025 (OrbiMed)
Last known equity round: Growth · USD 50M · Jul 2025 (OrbiMed)Method Be the first Back
40 Memo TherapeuticsSchlieren · founded 2012 Biotech › antibodies raised
Series C (incl. extension) · USD 50M · May 2024 (Pureos Bioventures; Ysios Capital, Kurma Partners)
Last known equity round: Series C (incl. extension) · USD 50M · May 2024 (Pureos Bioventures; Ysios Capital, Kurma Partners)Method Be the first Back
41 Bitcoin SuisseZug · founded 2013 Crypto › brokerage & custody raised
Series A · USD 49M · Jul 2020 (Roger Studer (family office); private and strategic investors)
Last known equity round: Series A · USD 48.6M · Jul 2020
Published valuation: USD 327M (Jul 2020)
Method
Be the first Back
42 VerityZurich · founded 2014 Robotics › warehouse inventory drones raised
Series B (incl. Jul 2023 extension) · USD 43M · Jul 2023 (A.P. Moller Holding; Exor Ventures, Qualcomm Ventures)
Last known equity round: Series B (incl. Jul 2023 extension) · USD 43M · Jul 2023 (A.P. Moller Holding; Exor Ventures, Qualcomm Ventures)Method Be the first Back
43 NamespaceZurich · founded 2022
Customers include Framer.
Software › developer build infrastructure USD 65M raised
Series B · USD 42M · Oct 2026 (Scale Venture Partners; 20VC, NEA, Essence, Burst Capital)
Last known equity round: Series B · USD 42M · Oct 2026 (Scale Venture Partners; 20VC, NEA, Essence, Burst Capital)Method Be the first Back
44 SpartaGeneva AI › commodity trading analytics raised
Series B · USD 42M · Feb 2025 (One Peak; Singular, FirstMark)
Last known equity round: Series B · USD 42M · Feb 2025 (One Peak; Singular, FirstMark)Method Be the first Back
45 DeepJudgeZurich · founded 2021 AI › legal knowledge search raised
Series A · USD 41M · Nov 2025 (Felicis; Coatue)
Last known equity round: Series A · USD 41.2M · Nov 2025 (Felicis; Coatue)Method Be the first Back
46 M0Zug · founded 2023 Crypto › stablecoin infrastructure USD 100M raised
Series B · USD 40M · Aug 2025 (Polychain, Ribbit Capital, Endeavor Catalyst)
Last known equity round: Series B · USD 40M · Aug 2025 (Polychain, Ribbit Capital, Endeavor Catalyst)Method Be the first Back
47 PAVE SpaceRenens · founded 2024
Spin-off of the student-led Gruyère Space Programme; CEO Julie Böhning.
Space › in-space transport USD 40M raised
Seed · USD 40M · Mar 2026 (Visionaries Club, Creandum)
Last known equity round: Seed · USD 40M · Mar 2026 (Visionaries Club, Creandum)Method Be the first Back
48 BcompFribourg · founded 2011 Climate › sustainable materials raised
Series C · USD 40M · Apr 2024 (EGS Beteiligungen; Verve Ventures, Zürcher Kantonalbank, RKKVC)
Last known equity round: Series C · USD 39.5M · Apr 2024 (EGS Beteiligungen; Verve Ventures, Zürcher Kantonalbank, RKKVC)Method Be the first Back
49 Tolremo TherapeuticsBasel · founded 2017 Biotech › oncology raised
Series A (incl. extension) · USD 39M · Sep 2023 (BioMedPartners; Pierre Fabre Invest)
Last known equity round: Series A (incl. extension) · USD 39M · Sep 2023 (BioMedPartners; Pierre Fabre Invest)Method Be the first Back
50 UniqueZurich · founded 2021 AI › agents for financial services raised
Series A · USD 30M · Feb 2025 (CommerzVentures, DN Capital)
Last known equity round: Series A · USD 30M · Feb 2025 (CommerzVentures, DN Capital)Method Be the first Back

Back · Backing on Uback (pronounced “you back”) means declaring an Interest (free) or an Intention (coming soon). Backing does not mean that this company is raising funds or that a shareholder is selling shares, and it is not a commitment to invest. Any deal, through a funding round or a sale by an existing shareholder, is handled by a partner desk: the Fundraising Desk of the country for a round, the Secondary Sales Desk assigned to the company for a sale. · Terms

Ranking in descending order of AI-estimated valuation, based on public information, with no human intervention on the order. The valuations, ranges and brackets shown are editorial estimates produced by AI, purely indicative and imperfect by nature: neither a financial valuation, nor an offer, nor investment advice. Only the market sets a company’s value, through a funding round or a sale. Ranking established by Claude (Anthropic) from public information, following the published rules. A consensus of several AIs will apply from 1 December 2026. Eligibility: at least $1M raised in equity, non-listed company, main operations in Switzerland. Request a correction

How to read this ranking

Rank

Companies are ranked by AI-estimated valuation, highest first. The market sets the value; AI models estimate it.

Estimate

An AI-estimated valuation, its uncertainty range and its order of magnitude. Indicative, and imperfect by nature.

  1. Hundreds of k$
  2. Millions $
  3. Tens of M$
  4. Hundreds of M$
  5. Unicorn
  6. Decacorn
  7. Hectocorn

Full method →

Rankings by sector

Four verticals at launch, more when the feasibility test allows.
Coming soon · Top 10

Biotech & medtech

Antibodies, radiopharmaceuticals, gene therapy, surgical robots and digital obesity care.

Coming soon · Top 10

Software, AI & deeptech

Code quality, cyber protection, AI chip interconnects, quantum and engineering AI.

Coming soon · Top 10

Fintech & crypto

Digital asset banks, crypto custody, stablecoin infrastructure and brokerage.

Coming soon · Top 10

Climate, robotics & space

Direct air capture, battery storage, legged robots, precision spraying and satellites.

ProptechEdtechAgritechInsurtechMobility
The Uback Fundraising Desk in Switzerland

Introductions made by a Fundraising Desk partner, currently being selected

An adviser authorised by FINMA (Swiss Financial Market Supervisory Authority) or affiliated with a supervisory organisation, the only party entitled to present Backers’ demand to companies for their funding rounds. Sales of existing shares are handled by Secondary Sales Desks, assigned company by company. Uback remains a media: it ranks and aggregates intentions, it takes part in no transaction.

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Capital raising advisers

Become Uback’s Fundraising Desk partner in Switzerland

  • Foreign investors you would not find on your own
  • Your name on every ranking of the country
  • Backers’ demand on each company, before its round opens
  • The “Uback Fundraising Partner in Switzerland” title on your profiles
Discover the partnership No fee at this stage. Exclusive per country on funding rounds. Uback brings investors and visibility, not a guaranteed deal flow.

Radar · known eligible companies, not ranked

Sorted by date of last round, with no judgement and no AI call. Undisclosed amount: the round is confirmed by the press, not its amount.

Born in Switzerland, based elsewhere

Companies of Swiss origin whose main operations are now abroad: not ranked, shown with the law governing their shares.

  • GetYourGuide · Consumer tech › travel experiences marketplace
    Founded in Zurich in 2009 (ETH Zurich graduates); HQ in Berlin (ranked in Germany)
    Funding round · USD 194M (equity and debt) · 2023 (Temasek, KKR), at about USD 2bnBack
  • Auterion · Defence tech › drone autonomy software
    Founded in Zurich in 2017 (ETH Zurich PX4 team); HQ in Arlington, Virginia, with a second HQ in Munich (ranked in the United States)
    Series B · USD 130M · Sep 2025 (Bessemer Venture Partners; Lakestar, Mosaic Ventures, Costanoa), at about USD 600MBack
  • Destinus · Defence tech › hypersonic aircraft and drones
    Founded in Payerne (Vaud) in 2021; HQ moved to the Netherlands in Nov 2024 (ranked in the Netherlands)
    2025 round at up to EUR 1.5bn (amount not disclosed); about EUR 400M raised in total, including convertibles and shareholder loansBack
  • Rapyuta Robotics · Robotics › cloud robotics for warehouses
    Founded in 2014 as an ETH Zurich spin-off; HQ in Tokyo (ranked in Japan)
    Series C · USD 51M · Apr 2022 (Goldman Sachs)Back
  • Xeltis · Medtech › restorative vascular implants
    Founded in Zurich in 2006 (Xeltis AG); HQ and manufacturing in Eindhoven, Netherlands (ranked in the Netherlands)
    Funding round · EUR 20.5M · Jul 2026 (Horizon 3 Healthcare; EIC, Invest-NL, VI Partners)Back
  • CeQur · Medtech › wearable insulin delivery
    Founded in Switzerland; legal seat in Horw (Lucerne); operations and management mainly in Marlborough, Massachusetts (ranked in the United States)
    Series E · USD 100M · Jun 2026 (investors undisclosed)Back

Born elsewhere, based in Switzerland

Companies founded abroad whose main operations are in Switzerland.

  • Cradle · AI › protein engineering software
    Founded in 2021 in Amsterdam and Zurich; HQ in Amsterdam (ranked in the Netherlands)
    Series B · USD 73M · Nov 2024 (IVP; Index Ventures, Kindred Capital)
  • General Intuition · AI › agents trained on gameplay data
    Founded in 2025 in New York; European research site in Geneva (ranked in the United States)
    Series A · USD 320M · Jun 2026 (Khosla Ventures; General Catalyst), at USD 2.3bn

Not ranked

  • Nexthink · Majority stake bought by Vista Equity Partners from Permira in Oct 2025, at about USD 3bn
  • Yokoy · Bought by TravelPerk (now Perk) in Jan 2025
  • Lakera · Bought by Check Point Software, announced Sep 2025 (about USD 300M)
  • Sevensense Robotics · Bought by ABB in Jan 2024
  • Lunaphore · Bought by Bio-Techne (completed 2023)
  • Araris Biotech · Bought by Taiho Pharmaceutical, Mar 2025 (USD 400M upfront, up to USD 1.14bn)
  • T3 Pharmaceuticals · Bought by Boehringer Ingelheim for CHF 450M
  • Daedalean · Bought by Destinus in Aug 2025 (CHF 180M)
  • ID Quantique · Bought by IonQ (completed May 2025)
  • 21Shares · Bought by FalconX (completed Nov 2025)
  • bexio · Bought by Die Mobiliar in 2018
  • Doodle · Bought by Tamedia (now TX Group) in 2014
  • Avaloq · Bought by NEC (completed Dec 2020)
  • Threema · Owned by private equity (Afinum from 2020); sold to Comitis Capital (announced Jan 2026)
  • Crypto Finance · Majority bought by Deutsche Börse (completed Dec 2021)
  • Ava · Bought by FemTec Health
  • Veeam Software · Founded in Baar but HQ in the Seattle area; owned by Insight Partners since 2020
  • Astrocast · Insolvency proceedings: composition moratorium granted in June 2025; delisted from Euronext Growth Oslo in 2024
  • Proton · Controlled by the non-profit Proton Foundation; its only venture round (USD 2M) dates from 2015
  • Infomaniak · Bootstrapped and independent; no outside equity round (founder-controlled, with a foundation guaranteeing independence)
  • TWINT · Created and owned by Swiss banks and SIX/Worldline
  • wefox · Holding company registered in Zurich, but operations and management in Berlin; restructured in 2024-25 after selling most of its businesses
  • DFINITY Foundation · Non-profit foundation (Zurich) funded by tokens (ICP): not an equity startup
  • Ethereum Foundation · Non-profit foundation (Zug), funded by a token sale
  • Cardano Foundation · Non-profit foundation (Zug), token ecosystem
  • Solana Foundation · Non-profit foundation (Zug), token ecosystem; the operating company Solana Labs is in San Francisco
  • Web3 Foundation (Polkadot) · Non-profit foundation (Zug), funded by DOT token sales
  • Beekeeper · Bought by LumApps in Jul 2025
  • Smallpdf · Bootstrapped: no outside equity round found
  • RIVR (ex Swiss-Mile) · Bought by Amazon (announced March 2026)
  • SixPeaks Bio · Bought by AstraZeneca in 2025 (USD 170M at closing)
  • RetinAI (Ikerian) · Bought by EssilorLuxottica in 2025
  • Swixx BioPharma · Majority sold to SK Capital Partners in 2025 (valuation above EUR 1.5bn); pharma distributor, not a startup
  • Lyncée Tec · Bought by Park Systems in 2025
  • Lykke · Exchange halted after a 2024 hack; UK entity put into liquidation in Mar 2025
  • Alpian · Digital private bank incubated by the REYL banking group and now majority-owned by Fideuram (Intesa Sanpaolo)
  • Nouscom · Legal seat in Basel, but research and management in Rome (ranked in Italy)

The method in Switzerland

Calendar. Quarterly ranking, published on the 11th of February, May, August and November. Next edition: November 11, 2026.

Eligibility: at least $1M raised in equity, non-listed company, main operations in Switzerland.

Fundraising Desk sought. An adviser authorised by FINMA (Swiss Financial Market Supervisory Authority) or affiliated with a supervisory organisation.

Sources. Swiss and international business and technology press (startupticker.ch, Handelszeitung, NZZ, finews.ch, Le Temps, Bilan, swissinfo.ch, TechCrunch, Sifted, Bloomberg, Reuters), the Swiss Venture Capital Report, company and investor announcements.

Method and rules, common to all countries →