Cross-Country Analysis
September 8, 2026

Healthcare's 2.4pp share drop contrasts with Industry & Hardware's 5.9pp rise in seed funding

2.4pp
Healthcare share decline
0.7pp
Software share increase
5.9pp
Finance & Blockchain share decline
  • Healthcare & Life Sciences seed share fell 2.4 percentage points
  • Software & Developer Tools seed share rose 0.7 percentage points
  • Finance & Blockchain saw the largest share decline at 5.9 percentage points

Across the 1,239 seed-stage deals Brouky tracks in Sweden and the Netherlands, Healthcare & Life Sciences experienced a 2.4 percentage point decline in funding share, falling from 18% to 15.6% between 2021 and 2024. These share shifts may partly reflect expanding data coverage.

While Software & Developer Tools saw a modest 0.7 percentage point increase in share, rising from 29.3% to 30%, Industry & Hardware and Artificial Intelligence & Data increased by 5.9 and 3.9 percentage points respectively.

MEDIAN SEED ROUND SIZE BY SECTOR (EUR)

Finance & Blockchain faced the steepest decline in share, losing 5.9 percentage points, dropping from 13.8% to 7.9%. Median round sizes also varied notably, with Commerce & Marketing leading at over €16 million, while Healthcare rounds had a median size of €5 million, the lowest among the top sectors.

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