Cross-Country Analysis
September 16, 2026

Finance & Blockchain's 6.2pp decline cedes ground to Energy, Environment & Mobility's 1.9pp gain

1.9pp
Energy share increase
1.8pp
Industry share increase
6.2pp
Finance & Blockchain share decline
1.7×
Energy vs Industry median round size
  • Energy, Environment & Mobility share grew by 1.9 percentage points
  • Industry & Hardware share increased by 1.8 percentage points
  • Finance & Blockchain share fell by 6.2 percentage points

Across the 855 pre-seed and seed deals Brouky tracks in Switzerland and Spain from 2021 to 2024, the Energy, Environment & Mobility sector posted the largest share increase, rising by 1.9 percentage points to 11%. This growth slightly outpaced the 1.8 percentage point gain in Industry & Hardware, which reached a 14.5% share.

Both sectors expanded their share of early-stage funding, contrasting with the notable 6.2 percentage point decline in Finance & Blockchain, which dropped from 14% to 7.8%. This shift may partly reflect expanding data coverage. The zero-sum nature of share shifts means these gains came at the expense of sectors like Finance & Blockchain and Commerce & Marketing, which fell by 3.9 percentage points.

MEDIAN ROUND SIZE BY SECTOR (EUR)

Energy, Environment & Mobility rounds commanded the highest median funding at €11.4 million, nearly 1.7 times the Industry & Hardware median of approximately €6.8 million.

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