Cross-Country Analysis
September 6, 2026

Energy sector’s 4.8pp seed funding share rise contrasts with Software’s 3.9pp gain

4.8pp
Energy sector seed share decline
3.9pp
Software sector seed share increase
7.4×
Industry vs Energy median seed size gap
  • Energy, Environment & Mobility seed share fell 4.8 percentage points
  • Software & Developer Tools seed share grew 3.9 percentage points
  • Finance & Blockchain seed share dropped 5 percentage points

Across the 3,929 seed-stage deals Brouky tracks in Germany and France, the Energy, Environment & Mobility sector saw its share of funding rise by 4.8 percentage points from 8.9% in 2021 to 13.7% in 2024. This increase represents a major shift in seed funding allocation, though it may partly reflect expanding data coverage.

In contrast, the Software & Developer Tools sector increased its seed funding share by 3.9 percentage points, rising from 35% to 38.8%. This gain makes it the largest sector by share and a major beneficiary of shifts in seed funding allocation.

MEDIAN SEED ROUND SIZE BY SECTOR (EUR)

Other sectors with notable share changes include Finance & Blockchain, which experienced a 5 percentage point drop in seed funding share, decreasing from 12% to 7%. Meanwhile, Industry & Hardware and Artificial Intelligence & Data sectors grew by 1.7 and 0.7 percentage points respectively, indicating modest gains in seed funding share.

The median seed round size in the Energy sector stood at €5 million, slightly below the Software sector’s median of €5.5 million. The Industry & Hardware and Artificial Intelligence & Data sectors reported notably higher median seed sizes of €9.2 million and €8.9 million respectively.

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