Finance & Blockchain dips 5.6pp as Software & Developer Tools gains 4.7pp in seed funding share
- Industry & Hardware seed funding share rose 2.4 percentage points from 2021 to 2024
- Healthcare & Life Sciences seed share declined slightly by 0.3 percentage points
- Software & Developer Tools led gains with a 4.7 percentage point increase
Across the 3,038 seed-stage deals tracked in France and Germany from 2021 to 2024, Finance & Blockchain experienced a 5.6 percentage point decline in funding share, falling from 14.3% to 8.7%. This loss contrasts with the Software & Developer Tools sector's 4.7 percentage point gain from 33.7% to 38.4% over the same period. These share shifts may partly reflect expanding data coverage over time.
Industry & Hardware also saw a notable increase in funding share, rising by 2.4 percentage points from 10.3% to 12.7%, supported by an increase in deal count from 154 to 197 deals and a median seed round size of €7.75 million. Healthcare & Life Sciences experienced a slight decline of 0.3 percentage points, from 12.4% to 12.1%, despite having the highest median seed round size among these sectors at €10 million.
MEDIAN SEED ROUND SIZE BY SECTOR (EUR)
Software & Developer Tools led all sectors with the largest funding share gain, supported by a median round size of approximately €5.05 million. These shifts represent a zero-sum reallocation of seed funding share within the ecosystem, where gains in Software & Developer Tools and Industry & Hardware correspond with declines in sectors like Finance & Blockchain and Commerce & Marketing, which fell by 5.6 and 4.3 percentage points respectively.
FUNDING SHARE CHANGE 2021-2024 (PERCENTAGE POINTS)
Related insights
- Cross-Country AnalysisHealthcare's 2pp funding share decline contrasts with Industry's 1.5pp rise in France and Spain
- Cross-Country AnalysisFinance & Blockchain's 3.9pp seed funding share drop contrasts with AI's smaller 1.3pp decline
- Deal SpotlightGraphcore raises EUR419.3M Series C+ with Softbank participating
- Deal SpotlightQuantum Systems raises EUR150M Series C+ backed by Commerzbank Group, Deutsche Bank Ventures, European Investment Bank, KfW
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