In Q2 2016, we tracked 26 Danish investments totalling $92.09 million
(For the first time ever, we are producing individual quarterly funding analyses for each Nordic country, to place the Danish analysis in context, check out the Q2 2016 Nordic Funding Analysis)
Q2 was another strong quarter for Danish startups attracting investment, and although there was a slight drop in the number of investments from Q1, 23 investments in Q2 illustrates a consistency emerging from the last three quarters, with 20+ investments occurring each time.
This consistency can also be applied to the amounts raised as well, and we are now confident that Q3 2015 is an outlier rather than any indication of a funding drop-off.
Denmark are competing well on a Nordic level as well, claiming more of the money flowing into the region than any other country bar Sweden.
This is also the case in terms of the number of investments, except Sweden's dominance is even more prevalent here.
Denmark has a lot to thank Tradeshift for when it comes to the high amount recorded this quarter. This does also raise concerns as to whether the top number is inflated and an unfair reflection of the strength of this quarter.
Looking at the round sizes though, this concern can perhaps be offset by the fact that half of the investments in Q2 were undisclosed and therefore weren't included in the total (It should be noted however, that undisclosed investments are typically small in nature).
Assuming that the majority of these undisclosed investments did in fact occur in the below $1 million bracket, Q2's Danish investments were all into early-stage companies bar Tradeshift and Labster.
Comparing Q2 2016 to Q2 2015, the increase in early-stage rounds this year is visible, but so is the fact that there has been no increase past the $3 million + mark year on year.
In conclusion, Q2 was another steady but not spectacular funding quarter for Denmark. It's promising that so many early-stage investments are happening, but the lack of investments past the $3 million mark should be monitored, and the $75 million Tradeshift investment should also be duly considered when making any strong judgement on this quarter.