Finance & Blockchain's 4.1pp Series B share loss cedes ground to Software's 2pp gain in France and Germany
- Software & Developer Tools gained 2pp share at Series B from 2021 to 2024
- Healthcare & Life Sciences increased its share by 0.9pp over the same period
- Finance & Blockchain lost the largest share, declining 4.1pp at Series B
Across the 3,944 Series B deals Brouky tracks in France and Germany, Finance & Blockchain lost 4.1 percentage points of funding share, retreating from 12.8% in 2021 to 8.7% in 2024, ceding ground to Software & Developer Tools, which increased its share by 2 percentage points, growing from 34.9% to 36.9% over the same period, though this may partly reflect expanding data coverage.
Healthcare & Life Sciences also expanded its share, albeit more modestly, by 0.9 percentage points, rising from 13.3% to 14.2%. The median Series B round size in Healthcare & Life Sciences reached €9,187,156, notably higher than Software’s median of €6,000,000, indicating larger capital injections per deal despite a smaller share increase.
MEDIAN SERIES B ROUND SIZE BY SECTOR (EUR)
Other sectors saw smaller shifts: Energy, Environment & Mobility gained 3.8 percentage points, and Industry & Hardware rose 0.7 points, while Commerce & Marketing and Consumer, Lifestyle & Services experienced slight declines. The zero-sum nature of share shifts means these gains came at the expense of sectors like Finance & Blockchain and Commerce & Marketing, which lost 4.1 and 3.6 percentage points respectively.
Related insights
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