Commerce & Marketing's 6.6pp share decline cedes ground to Energy, Environment & Mobility's 4.3pp gain
- Energy, Environment & Mobility funding share rises 4.3pp from 7.6% to 11.8%
- Industry & Hardware share grows 1.5pp from 8.4% to 9.9%
- Commerce & Marketing share declines 6.6pp, the largest drop among sectors
Across the 1,803 early-stage rounds Brouky tracks in France and Spain from 2021 to 2024, the largest sector share decline came from Commerce & Marketing, which fell by 6.6 percentage points from 10.8% to 4.2%, ceding ground in this zero-sum allocation of funding share. This retreat contrasts with the 4.3 percentage point gain in funding share for Energy, Environment & Mobility, which rose from 7.6% to 11.8%. These share shifts may partly reflect expanding data coverage.
Industry & Hardware also saw a smaller share increase of 1.5 percentage points, moving from 8.4% to 9.9%. Software & Developer Tools had the largest share gain of 8.8 percentage points, rising from 33% to 41.8%, but this article focuses on the biggest loser and notable gainers.
MEDIAN ROUND SIZE BY SECTOR (EUR)
Median round sizes further highlight sector prioritization. Industry & Hardware commands the highest median round at €10.12 million, followed by Energy, Environment & Mobility at €8.47 million. In contrast, Commerce & Marketing rounds have a median size of approximately €5.5 million, reflecting its relative decline in funding share.
Related insights
- Cross-Country AnalysisHealthcare’s 2pp seed funding drop contrasts with Energy’s 4.3pp gain in France and Spain
- Cross-Country AnalysisCommerce & Marketing seed share falls 2.8pp while Software & Developer Tools slips 0.5pp
- Deal SpotlightMonumental raises €28M Series B with Hummingbird, Khosla Ventures, and Plural VC
- Category IntelligenceAI funding share nearly doubles Healthcare's decline from 2019 to 2023 in tracked deals
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