Germany Tech Update Q1 2025

Update on venture capital activity in Germany in Q1 2025. The most funded cities, sectors, and international benchmarks.

Key findings

• German startups raised $1.8B in Q1 2025, a year on year decline of 14.3%.
• German startups closed 91 rounds of $2M or more in 2025 so far, leaving deal frequency on par with 2024 and ahead of 2020.
• Health was Germany's top funded sector in Q1 2025 at $459.6M, about half of it from the €240m round raised by Berlin-based Amboss.
• Germany ranked second among European countries by VC investment in Q1 2025 with $1.8B, behind the UK on $4.2B and ahead of France on $1.4B.
• Berlin and Munich both made Europe's top 10 cities for VC investment in Q1 2025, at $802M and $463M respectively.