Funded Startups in Zug
Across these 50 Zug-based entries, the largest disclosed round is Pharvaris (2025-07-22) at $201M, which dwarfs the next-largest disclosed amounts in the l…
Across these 50 Zug-based entries, the largest disclosed round is Pharvaris (2025-07-22) at $201M, which dwarfs the next-largest disclosed amounts in the list (e.g., MoonLake Immunotherapeutics at $75M on 2025-04-03, RoomPriceGenie at $75M on 2025-02-17, and Pharvaris again at the top). At the smaller end, the lowest disclosed amount is MapTiler’s $200K (2021-09-13), indicating a wide disclosed-amount spread rather than a tight funding “band.”
Dates cluster toward the recent edge: the most recent round shown is Shack on 2025-11-24 ($250K), while entries run back to 2021-05-17 (Akroswiss, $3M). Stage labels also show a heavy mix of “Series Unknown” (14 rows) and “undisclosed” amounts (5 rows), and blockchain/cryptocurrency appears repeatedly across the list (e.g., Concordium, Turtle Club, Swisstronik, Validation Cloud, Open Forest Protocol, Nillion, SCRYPT Digital), spanning both Seed and multi-series rounds.
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Frequently asked
How does the largest disclosed round in Zug compare to the rest of the disclosed amounts here?
Pharvaris’ $201M (2025-07-22) is the only disclosed entry above $100M in this set; the next-largest disclosed amounts are $75M (MoonLake Immunotherapeutics on 2025-04-03 and RoomPriceGenie on 2025-02-17), followed by other large rounds such as SEBA Bank’s $120M (2022-01-12) and Colendi’s $65M (2024-05-22).
Do the rounds cluster in a narrow recent time window, or are they evenly spread from 2021 to 2025?
They skew toward the recent edge: many entries fall between 2024-01 and 2025-11 (e.g., Secure.com on 2025-11-17 at $5M; Turtle Club on 2025-05-12 at $6M), while the oldest shown dates are in mid-2021 (e.g., Akroswiss on 2021-05-17 at $3M and Flux Protocol on 2021-05-20 at $10M).
Which funding-stage labeling patterns stand out in this Zug list?
“Series Unknown” appears 14 times (e.g., Concordium on 2025-09-27; Pharvaris on 2025-07-22; Nillion on 2024-10-30), and “undisclosed” amounts appear 5 times (e.g., Concordium 2025-09-27; Open Forest Protocol 2024-09-10; Gelato 2024-01-04). That means a substantial share can’t be benchmarked precisely by both stage label and disclosed size (e.g., Cloudflavor’s 2025-06-21 “Pre-Seed” is undisclosed).
Are there sector concentrations that repeat across multiple rounds (vs. one-off categories)?
Blockchain and cryptocurrency recurs across multiple entries, including Turtle Club ($6M, Seed, 2025-05-12), Swisstronik ($5M, 2024-11-06), Validation Cloud ($15M, Series A, 2025-03-06), Nillion ($25M, 2024-10-30), and SCRYPT Digital ($5M, 2024-05-29). Financial Services also appears frequently (e.g., Secure.com, Upbots $4M on 2024-06-11, vestr $10M on 2022-10-19, Wire $25M on 2022-08-12).
Any outliers worth attention beyond the largest disclosed round?
Yes: MapTiler’s disclosed $200K (Grant, 2021-09-13) is the smallest amount in the list, far below the $250K range seen in the latest entries like Shack (2025-11-24, $250K). On the higher side, SEBA Bank’s $120M (2022-01-12, Series C) is another standout well above most other mid-range disclosed rounds, supporting a “few very large, many mid/small” funding distribution.
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