EY Startup Barometer Switzerland 2026

EY’s analysis of Swiss startup funding uncovers industry, gender and regional trends, and pinpoints AI as an investor priority.

Download the EY Startup Barometer Switzerland 2026

In brief

• CHF 3.3b was invested in Swiss startups in 2025 – a strong recovery and a clear increase of 44% on 2024.
• AI startups accounted for nearly one in three rounds (32%), with financing volume rising to CHF 1.06b (+206%).
• 23% of funded startups had at least one female founder, while 6% were founded by all-female teams.

EY’s analysis of Swiss startup financing shows a clear turnaround in 2025, after several challenging years. While the number of funding rounds remained stable, investment volumes rose steeply. The data also highlights the growing role of artificial intelligence, continued strength in health and gradual progress in female founder participation.

Software & analytics ranked second overall in terms of investment volume, raising CHF 924 million (28% market share). Fintech & insurtech and hardware followed with 9% and 7%, respectively.

Three software & analytics startups made the top-ten ranking of biggest deals: the Swiss-US startup General Intuition (ranking fifth with CHF 107 million), Auterion (seventh with CHF 84 million) and Neural Concept (eighth with CHF 80 million).

In stark contrast, the energy sector experienced a significant decline in funding volume (down 55%).

Artificial intelligence gains further momentum

Artificial intelligence has become a central driver of the Swiss startup ecosystem, reflecting growing investor confidence in Switzerland as a leading location for AI innovation, a momentum likely to continue in the coming months.

In 2025, 163 financing rounds involved startups with an AI-related business model, up 46% compared with 2024. That means that nearly one in three financing rounds (32%) involved an AI startup or one with an AI component, up from 22% the year before and just 10% in 2023.

The growth is even more visible in investment volume. Financing for AI-focused startups surged by 206%, from CHF 345 million in 2024 to CHF 1.06 billion in 2025. AI startups now account for roughly one-third of total invested capital.

In the second half of 2025 alone, CHF 778 million was invested in AI-driven companies, representing 46% of the half-year’s total financing volume. The steep rise in AI-related deals and funding volumes underlines the structural importance of this technology across industries.

Zurich and Romandie remain startup hubs

Regional dynamics remained stable in 2025. The Greater Zurich Area recorded 213 financing rounds, followed by Romandie with 165 rounds. Together, these two regions accounted for more than seven out of ten financing rounds nationwide.

In terms of investment volume, startups in Zurich attracted close to CHF 1.3 billion, or 38% of total venture capital invested. In Romandie, startups secured CHF 909 million. Combined, the two regions captured 65% of all invested capital.

All regions saw increases in financing volumes compared with 2024, with the exception of Midland, which saw a sharp drop from CHF 148 million in 2024 to CHF 59 million in 2025, and Ticino, where financing volume fell from CHF 61 million to CHF 53 million.

Focus on female founders

Gender diversity improved slightly in 2025, although disparities remain significant.

Of the 447 Swiss startups with known founding teams that secured funding:

• 26 startups (6%) had all-female founding teams.
• 75 startups included at least one woman on the founding team.

That said, the majority (346 startups) were founded exclusively by men.

Overall, 122 of the 1,025 identified founders were women, corresponding to a 12% share of female founders. In total, 23% of funded startups had at least one female founder.

Viewed by sector, female founder representation was strongest in e-commerce (28%), followed by health (19%) and energy (14%). In contrast, substantially lower participation rates were evident in software & analytics (10%), hardware (6%) and fintech & insurtech (5%).

Compared with Germany and Austria, Switzerland recorded the highest proportion of founding teams including at least one woman in 2025.

International comparison: Switzerland leads in growth

Across the DACH region, Switzerland recorded the strongest increase in financing volume in 2025, up 47% to EUR 3.5 billion (equivalent to CHF 3.3 billion). In Germany, too, venture capital financing rose by more than EUR 1.3 billion (or 19%) year on year to almost EUR 8.4 billion. Austria, however, saw a sharp year-on-year decrease of 56% to EUR 253 million.

In contrast to the dominant position the health sector holds in Swiss venture capital, software & analytics is by far the dominant sector in both Austria (38% of funding) and Germany (32% of funding).

While the number of financing rounds declined again in Germany and slightly in Austria, Switzerland saw a marginal increase. This positions Switzerland as the most dynamic market in the region in terms of capital growth in 2025, with the health sector leading the way as the backbone of the Swiss startup ecosystem.