"Denmark is one of the most digitalized countries in the world, making it an attractive market to foster innovation and adopt disruptive technologies. With growing international interest, we will continue to adopt new measures to facilitate entry into the Danish ecosystem."
Internationally, Denmark’s startup scene may be best known for Copenhagen-founded unicorns including Zendesk, Trustpilot, and Pleo, but there are several other flourishing clusters of specialized tech knowledge. Aarhus is Denmark’s youngest city by population, Odense is a hub for robotics, and Jutland offers both urban life and nature. Collectively, Denmark’s cities form a vibrant and nurturing startup ecosystem that in 2021 was home to more than 4,300 startups and scaleups and 30 active VC investors. The nation has produced 10 unicorns to date.
The robust ecosystem, educated talent pool, and relatively low tax rate of 22% for foreign investors have attracted the interest of international corporations. IBM has a software development center in Copenhagen, Apple built a sustainably-powered data center in Viborg, and in December 2021, Meta/Facebook announced plans to expand its Odense data center campus.
Denmark has a formal governance model across its strongest digital tech ecosystems (Fintech, Healthtech, Robotics, Createch, Proptech, Agtech, and Edtech) that is governed by a steering committee for the Danish Digital Ecosphere, with leaders from the strongest ecosystems and Digital Hub Denmark. Together they work to attract talent, investors, and customers to the 1,100 tech startups and scaleups in the ecosphere.
In July 2021, Copenhagen-based Dixa, which creates customer engagement software, raised $105 million in a Series C round. Aarhus-founded ViaBill has raised $177.3 million over four rounds, including $120 million at an unknown series round in February 2022.
Ecosystem by the Numbers
Advanced Manufacturing & Robotics
In 2015, Denmark was home to 70 Fintech companies. By the end of 2021, it was home to more than 250. Copenhagen Fintech is one of the leading Fintech hubs in the Nordics, with more than 200 members, strong connections to the corporate sector, and a lively coworking space. Expense management tools developer Pleo raised a $350 million Series C in December 2021, putting the company's pre-money valuation at $4.35 billion. Digital bank Lunar has raised $371.3 million in funding over nine rounds.
Reasons to Move Your Startup to Denmark
Ease of Doing Business
Selected Startup Organizations
Startup Genome Members
Digital Hub Denmark
Key Ecosystem Players
The Association of Tech Startups in Denmark
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