Cross-Country Analysis
September 11, 2026

Finance & Blockchain seed funding share declines 5.9pp, matched by Industry & Hardware’s 5.9pp gain from 2021 to 2024

5.9pp
Industry & Hardware share gain
2.4pp
Healthcare & Life Sciences share loss
5.9pp
Finance & Blockchain share loss
  • Industry & Hardware seed share rises 5.9 percentage points
  • Healthcare & Life Sciences seed share falls 2.4 percentage points
  • Finance & Blockchain seed share declines 5.9 percentage points

Across the 1,239 seed deals Brouky tracks in Sweden and the Netherlands, Industry & Hardware gained the largest share increase of 5.9 percentage points from 2021 to 2024, rising from 5.9% to 11.8% of total seed funding share. This gain contrasts with Healthcare & Life Sciences, which lost 2.4 percentage points, dropping from 18% to 15.6% share.

The 5.9pp gain in Industry & Hardware exactly matches the 5.9pp decline in Finance & Blockchain, which fell from 13.8% to 7.9% share, while Healthcare & Life Sciences lost 2.4pp. This may partly reflect expanding data coverage. These shifts illustrate a reallocation of seed funding away from finance-related sectors toward industry-focused startups in these countries.

MEDIAN SEED ROUND SIZE BY SECTOR (EUR)

Other sectors such as Artificial Intelligence & Data and Energy, Environment & Mobility also increased their seed funding shares by 3.9pp and 3.5pp respectively, while Consumer, Lifestyle & Services and Commerce & Marketing experienced moderate declines. Median seed round sizes vary notably, with Commerce & Marketing rounds at €16.1M median, well above Healthcare & Life Sciences at €5M median.

Share this article

Related insights

Explore the full dataset

Brouky tracks 36,000+ investors and 100,000+ investments across 84,000+startups. Search by country, stage, and sector.