Q.ANT develops and manufactures quantum sensors, photonic chips, and processors for quantum computing.
Invested VC volume decreased by 44% in Germany compared to 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 October 24, 2025
AI startups saw the most investments in Q3
In Q3, AI startups lead with 37 investments, followed by Energy (23) and FinTech startups (21).
Top 10 industries of financed startups according to the number of conducted investments
- AI
- Energy
- FinTech
- Health Care
- Manufacturing
- Marketing
- Web
- Consulting
- Automotive
- Food and Beverage
Number and total volume of financing rounds per stage
- Number of funding rounds
- Invested volume in $mn
The largest funding round of Q3
Berlin-based Talon.One secured a €134 million Venture Round, the largest funding round in Germany of the quarter.
Most investment rounds were Seed Rounds (36%). Despite that, the largest volume of $374 million was invested in 16 Venture Rounds.
HTGF and Capnamic were the most active VC investors in Germany
Regarding the investors behind those funding rounds, the HTFG and Capnamic emerged as the most active VC investors, completing 5 deals each. With this, they lead ahead of 10x Founders (3 deals), Bayern Kapital (3 deals) and Techstars (3 deals) among the top 5.
Investors with the highest number of investments in Q3 2025 Germany VC + PE Landscape – Q3 2025
- HTGF
- Capnamic
- 10x Founders
- Bayern Kapital
- Techstars
Berlin and Munich remain Germany’s VC hotspots, while Hamburg takes the 3rd spot
The most investments in Q3 were conducted in Berlin (38), followed by Munich (25) and Hamburg (8).
When ranking by investment volume instead of the number of conducted investments, Stuttgart ($142mn) and Koblenz ($70mn) replaces Cologne and Frankfurt in the Top 5.
In the spotlight
The largest Series A Round in Q3 was raised in Stuttgart
Stuttgart at a glance
~130 active startups
AI/Robotic as the main industry with 80+ startups being part of a cyber-valley-network
Startup-related events with over 3000 participants
Q.ANT raised €72 million
Industry
Manufacturing, Quantum Computing, Semiconductor
Founded in
2018, Stuttgart
Money raised
€72 million
Type of financing round
Series A
About
Lead Investors
Private Equity acquisitions decreased by 12% compared to the previous year
- Number of PE acquisitions
- Share of all investment rounds (in %)
Number and share of PE acquisitions increased in Germany
In Q3 2025, 15 PE acquisitions were conducted in Germany, representing a share of 11% of all investment rounds (VC + PE) (138).
Most companies were acquired in Baden Württemberg and Bayern with 4 acquisitions each.
Each active acquirer made only one acquisition in Q3.
PE acquisition highlight in Q3
Aquirer
(PE firm)
Acquiree
(Health Care)
Partner with us
Unlock the full potential of your financial strategy with Trustventure‘s expert guidance. Whether you’re navigating challenges in the financial sector, seeking advice on corporate financing, or enhancing your planning and controlling processes, we’re here to empower your journey and help you create transparency and confidence for you and your investors.
Ready to elevate your financial game? Reach out to us today using our contact form or drop us a direct message at office@trustventure.de. Work with us to achieve your financial success! 🚀
Other articles
M&A European Roll-Up Market Report – January 2026
January 2026 presented a 8% year-over-year increase in the number of PE-backed acquisitions. In addition to Food and Beverage, private equity investors are also targeting InsurTech and Consulting. Learn all about it in our report and case study, including ClearScore’s acquisition of Acre.
February 17, 2026
VC Landscape European Venture Capital Landscape – January 2026
With 299 investments and $4.2 billion raised across Europe, January saw a 7% decrease in volume and 1% reduction in deal count month over month. The largest round of the month was a $414 million Venture Round by the Montabaur-based company Klöckner Pentaplast, which is a manufacturer of plastic films and packaging for food, pharmaceutical, health, and durable products.
February 5, 2026
VC Landscape 2025 Recap: European Venture Capital & Private Equity Landscape
2025 presented an 9% increase in invested Venture Capital volume and the Crypto Startup Binance raised the largest round of the year. Learn all about it in our in-depth analysis.
January 21, 2026
VC Landscape Germany Venture Capital Landscape – Q4 2025
Between an decrease of 66% in invested VC volume and a €343mn funding round in the Health Care space, Germany is closing its venture capital landscape Q4 2025. Learn all about it in our latest analysis.
January 12, 2026
M&A European Roll-Up Market Report – December 2025
December 2025 presented a 0% year-over-year development in the number of PE-backed acquisitions. In addition to Software, private equity investors are also targeting FinTech and Marketing. Learn all about it in our report and case study, including Create Music Group’s acquisition of Cr2 Records.
January 9, 2026
VC Landscape European Venture Capital Landscape – December 2025
With 302 investments and $4.5 billion raised across Europe, December saw a 13% increase in volume and 7% reduction in deal count month over month. The largest round of the month was a $1.0 billion Venture Round by the London-based company Kraken, which is a global customer and culture platform for energy, water, and broadband.
January 7, 2026
M&A European Roll-Up Market Report – November 2025
November 2025 presented a 29% year-over-year decrease in the number of PE-backed acquisitions. In addition to Software, private equity investors are also targeting FinTech and Marketing. Learn all about it in our report and case study, including Octopus Energy’s acquisition of Kuppa.
December 9, 2025
VC Landscape European Venture Capital Landscape – November 2025
November 2025 saw a decline in VC activity, with 324 investments and $4.0 billion raised across Europe, representing a 25% decrease in volume and 18% reduction in deal count month over month. The largest round of the month was a $495 million Venture Round by Amsterdam-based tech company Picnic, which develops a mass-market home delivery system for fast moving consumer goods.
December 5, 2025
M&A European Roll-Up Market Report – October 2025
October 2025 presented a 55% year-over-year decrease in the number of PE-backed acquisitions. In addition to software, private equity investors are also targeting FinTech and Manufacturing. Learn all about it in our report and case study, including Lightcast’s acquisition of Simply Get Results.
November 19, 2025
VC Landscape European Venture Capital Landscape – October 2025
October 2025 saw a decline in VC activity, with 397 investments and $5.3 billion raised across Europe, representing a 28% decrease in volume and 3% reduction in deal count month over month. The largest round of the month was a $433 million Series C Round by London-based AI platform Nscale, which provides a full-stack AI cloud platform designed for enterprise-scale workloads.
November 14, 2025