AI funding share nearly doubles Healthcare's decline from 2019 to 2023 in tracked deals

Across the 2,233 deals Brouky tracks in France, Germany, and the Netherlands from 2019 to 2023, Artificial Intelligence & Data's share of total VC deals rose from 1.3% in 2019 to 7.6% in 2023. This represents a notable rise in AI's prominence within the venture landscape, increasing its share nearly sixfold within five years. This may partly reflect expanding data coverage over time. Meanwhile, Healthcare & Life Sciences experienced a decline in deal share, dropping from 15.4% to 10.9% over the same period.

Median round sizes further underscore this dynamic: AI & Data's median seed round is €4.0M, growing to €15.0M at Series A and, based on a smaller sample of 29 deals, soaring to €92.0M at Series C and beyond. In contrast, Healthcare's median seed round is €3.2M, with Series A at €10.9M and Series C+ at €39.0M, reflecting larger late-stage rounds but a slower share growth.