Finance & Blockchain's 5.7pp Seed Share Drop Fuels Software & Developer Tools' 4.7pp Rise
- Software & Developer Tools seed share grew 4.7 percentage points.
- Finance & Blockchain seed share declined by 5.7 percentage points.
- Industry & Hardware seed share increased by 2.5 percentage points.
Across the 3,043 seed deals Brouky tracks in Germany and France from 2021 to 2024, the most pronounced shift in sector funding share is the retreat of Finance & Blockchain, which lost 5.7 percentage points of the total seed funding share. These share shifts may partly reflect expanding data coverage over time. This contraction coincided with a 4.7 percentage point gain by Software & Developer Tools, highlighting a clear substitution from digital finance to broader software investments.
Software & Developer Tools expanded its share from 33.8% to 38.5%, reaching a median seed round size of €5.05M, while Finance & Blockchain's share fell from 14.3% to 8.7%, with a median round of €6.25M. Despite the median seed round for Finance & Blockchain being larger, its shrinking share marks a notable reallocation of capital within the seed stage.
Meanwhile, Industry & Hardware also saw a meaningful increase in seed funding share, rising by 2.5 percentage points to 12.8%. This sector commands a high median seed round size at €7.5M, though other sectors such as Artificial Intelligence & Data and Healthcare & Life Sciences have even larger median rounds.
Other sectors such as Energy, Environment & Mobility and Artificial Intelligence & Data also gained share, growing by 2.9 and 1.2 percentage points respectively, reinforcing a diversified shift in seed funding preferences beyond Finance & Blockchain. Energy, Environment & Mobility's share rose to 11.8%.
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