Research

VC Funding Insights

Data-driven analysis of venture capital trends — category shifts, survival rates, and round size comparisons across 122,000+ tracked investments.

Cross-Country Analysis

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

Seed funding share in Sweden and Netherlands shows Industry & Hardware rising 5.9pp, while Healthcare & Life Sciences falls 2.4pp from 2021 to 2024.

Deal Spotlight

ICEYE raises EUR1000M Series C+ backed by EQT Ventures

ICEYE, a Finland-based satellite data company, raises EUR1000M in Series C+ with EQT Ventures participating.

Cross-Country Analysis

Commerce seed funding share drops 6.6pp, ceded to Energy's 4.3pp rise

Seed funding in France and Spain shifts with Commerce sector losing 6.6pp share to Energy's 4.3pp gain from 2021 to 2024.

Deal Spotlight

Mistral AI raises EUR3000M Series C+ backed by a16z and Advent

Mistral AI secures EUR3000M in Series C+ with participation from a16z, Advent, and others, based in France in software and developer tools.

Cross-Country Analysis

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

Seed funding share in Healthcare falls by 2.4pp while Software edges up 0.7pp in Sweden and Netherlands.

Cross-Country Analysis

Healthcare's 2pp funding share decline contrasts with Industry's 1.5pp rise in France and Spain

Seed funding in France and Spain shows a 2pp drop in Healthcare share offset by a 1.5pp gain in Industry & Hardware from 2021 to 2024.

Cross-Country Analysis

Commerce & Marketing's 6.6pp share decline cedes ground to Energy, Environment & Mobility's 4.3pp gain

Energy & Environment funding share rises 4.3pp while Industry & Hardware grows 1.5pp in France and Spain pre-seed to seed rounds

Deal Spotlight

xorlab raises EUR5M Series A with EquityPitcher, Spicehaus Partners, ZKB Start-Up Finance

xorlab raises EUR5M in Series A funding backed by EquityPitcher, Spicehaus Partners, and ZKB Start-Up Finance in Switzerland.

Stage Analysis

Series C+ median rounds in Sweden declined from 2024 to 2025 despite higher deal count

Sweden's Series C+ median round size surged from €75M in 2025 to €130M in 2024, with deal counts fluctuating 36 to 45.

Cross-Country Analysis

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

From 2021 to 2024 in Germany and France, seed funding share for Energy fell 4.8pp while Software gained 3.9pp, signaling sector substitution trends.

Deal Spotlight

HyImpulse raises €50M Series A backed by ACE, Bayern Kapital, Join Capital, and North Ventures

HyImpulse, a German New Space startup, secured €50M in Series A with participation from ACE, Bayern Kapital, Join Capital, and North Ventures.

Deal Spotlight

Mistral raises €3B Series C+ backed by ASML, Nvidia, Samsung

French software startup Mistral closes a €3B Series C+ with participation from ASML, Nvidia, and Samsung, totaling over €6.2B raised to date.

Country Analysis

Czechia's Venture Market Punches Above Its Economic Weight

Czechia deployed €6.98B across 809 venture rounds since 2020. VC intensity exceeds Germany, startup density dwarfs regional peers. Full macro analysis.

2020 to 2026 YTD
Cross-Country Analysis

Healthcare’s 2pp seed funding drop contrasts with Energy’s 4.3pp gain in France and Spain

Seed stage funding share in France and Spain shifts as Healthcare loses 2pp while Energy gains 4.3pp from 2021 to 2024.

Deal Spotlight

BOOKR Kids raises €6.1M Series A backed by 3TS Capital Partners and TCV

BOOKR Kids closed a €6.1M Series A funding round supported by 3TS Capital Partners and TCV to grow its interactive e-book platform for children.

Deal Spotlight

Repodo raises €8.2M with Hedosophia and Seed Capital participating

Repodo, based in Denmark, secures €8.2M in a pre seed funding round with Hedosophia and Seed Capital participating.

Cross-Country Analysis

Germany’s Series C+ median round is 9% larger than Netherlands and 10% above Switzerland

Compare Series C+ median round sizes and deal size ranges in Germany, Switzerland, and the Netherlands.

Deal Spotlight

Velatir raises €5M Seed backed by Export and Investment Fund of Denmark and others

Velatir completed a €5M Seed funding round with participation from six investors including Export and Investment Fund of Denmark.

Cross-Country Analysis

Finance & Blockchain's 3.9pp seed funding share drop contrasts with AI's smaller 1.3pp decline

From 2021 to 2024, Finance & Blockchain seed funding share in Israel and Switzerland fell 3.9pp, while AI dropped 1.3pp.

Deal Spotlight

NavVis raises €74M Series C+ backed by Cipio Partners, Kozo Keikaku Engineering, Yttrium

NavVis closes a €74M Series C+ funding round with participation from Cipio Partners, Kozo Keikaku Engineering, and Yttrium.

Cross-Country Analysis

Sweden’s Series A to B rounds close 1.6× faster than Germany’s

Sweden startups move from Series A to B in 11 months median, faster than Germany’s 18 months, revealing distinct funding pace.

Cross-Country Analysis

Energy sector’s 4.8pp seed funding share gain offsets Healthcare’s 1.6pp loss

Seed funding share in Energy, Environment & Mobility rises 4.8pp while Healthcare & Life Sciences falls 1.6pp in Germany and France from 2021 to 2024.

Cross-Country Analysis

Spain’s seed startups show a lower single-round funding share than Sweden’s

Spain’s seed startups have a 45.1% single-round share, slightly below Sweden’s 49%, revealing funding persistence differences.

Cross-Country Analysis

Commerce & Marketing seed share falls 2.8pp while Software & Developer Tools slips 0.5pp

From 2021 to 2024, Commerce & Marketing seed funding share in Germany and Netherlands dropped 2.8pp, outpaced by smaller shifts in Software & Developer Tools.