Germany

Introduction

As Europe’s industrial powerhouse, Germany is home to a diverse range of innovation and boasts multiple startup ecosystems.

See below a deep dive into the German startup ecosystem, backed by a strong financial sector and world class universities.

Venture Capital

By Stage

Below we break venture capital into three distinct stages:

Startup stage ($0-15M rounds)
Breakout stage ($15-100M rounds)
Scaleup stage ($100M+ rounds).

This provides more consistent and timeless segmentation of the startup & venture capital landscape (more so than self-reported round labeling, which are applied inconsistently, especially between business cycles).

Stage Breakdown

Take a look at German early, breakout and late-stage rounds

By Industry

Between 2018-2023, the three dominant sectors for VC funding in Germany have been Enterprise Software, Fintech and Transportation startups.

2023 saw a distinct surge to the top of Energy, Enterprise Software and Health.

Check industry trends for Germany here.

Below you can compare Germany's industry breakdown in context of the European and global dynamics.

By leading segments

See below the most important topics for German startups in the last 5 years. Climate tech has been the undisputed leader.

However 2023 has seen a surge in VC flowing into green buildings, generative AI and space tech.

Explore more leading technology segments at the link here.

Benchmarking Germany by country

Explore VC investment by country here.

Benchmarking Germany by city

London, Paris and Stockholm are the leading city ecosystems in the European continent, but notable startup innovation exists across multiple German cities - a rare phenomenon. Germany is the only European country to have 3 hubs reach the top 10 European list - check other European cities here.

Investors

Top investors in Germany

Explore the investors that have been the most active in participating in German rounds.

Investor Locations

Take a look at where funds into German startups are coming from.

Unicorns

Germany is home to 70 unicorns, explore these on the platform here.

See below how the number of German unicorns has grown over time, with a surge in 2021.

See below the density of German unicorns in the context of the European continent.