“Black Forest Lab has secured €28mn in a Seed funding round led by Andreessen Horowitz (…) to support the company’s mission to bring state-of-the-art AI from Europe to a global audience.” – Founders Today
Invested VC volume increased by 53% in Q3 2024 compared to Q3 2023 Germany VC + PE Landscape – Q3 2024
Number and volume of announced funding rounds over the last year*
- Number of funding rounds
- Invested volume in $bn
* All data from CrunchBase, as of July 3, 2024
In Q3, the Software Industry saw the most investments (48), followed by Health Care and AI Startups with 26 each.
- A total of 155 financing rounds were announced. Germany VC + PE Landscape – Q1 2024
- The total amount invested in the announced financing rounds was $2.23bn, a 53% increase compared to Q3 2023.
- Most investments were made in Software Startups, amounting to 48 investments.
Top 10 industries of financed startups according to the number of conducted investments
- Software
- Health Care
- AI
- IT
- SaaS
- BioTech
- Manufacturing
- FinTech
- Sustainability
- Financial Services
Number and total volume of financing rounds per stage
- Number of funding rounds
- Invested volume in $bn
The largest round of Q3 2024 was a $450 million Series C.
In Q3, most investment rounds were Seed Rounds (~43%). Despite that, the largest volume of $599 million was invested in only 4 Series C Rounds.
Bayern Kapital was the most active VC investor in Germany Germany VC + PE Landscape – Q3 2024
Investors with the highest number of investments in Q3 2024 Germany VC + PE Landscape – Q3 2024
- Bayern Kapital
- EIC Accelerator
- HTGF
- Carma Fund
- BMH
Berlin is Germany’s VC hotspot, while Munich takes the 2nd spot
- The most investments in Q2 were conducted in Berlin (49), followed by Munich (29) and Hamburg (13).
- When ranking by investment volume instead of the number of conducted investments, Planegg ($179.0mn), Mannheim ($120.2mn) and Martinsried ($68.2mn) take places 3 to 5.
In the spotlight
Baden-Württemberg raised the largest Seed-Round in Q3
Baden-Württemberg at a glance (see also startup bw)
220+ Startups
520+ Founders
110 Funding Rounds
12 regional startup ecosystems
Black Forest Labs raised €28 million
Industry
Generative AI, Media
Founded in
2024, Freiburg
Money raised
$28 million
Type of financing round
Seed-Round
Comment/Quote
Relevant Investors
Private Equity acquisitions increased by 89% compared to the previous year
- Number of PE acquisitions
- Share of all investment rounds (in %)
Number of PE acquisitions compared to VC investments increased significantly
- In Q3 2024, 17 PE acquisitions were conducted in Germany, representing a share of 10% of all investment rounds (VC + PE) in Q3 (172).
- The ratio of PE acquisitions to VC investments has more than doubled compared to the same period last year, reaching its highest point in the last 12 months.
Largest (known) acquisition in Q3 – $7.3 billion
Aquirer
(San Francisco-based dedicated climate investing platform of TPG)
Acquiree
(Germany-based energy service provider for the real estate sector)
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