Germany boasts one of Europe’s leading startup ecosystems, with Berlin being a major hub for innovation. As of 2023, Germany is home to approximately 20,000 startups. The country benefits from strong government support, excellent infrastructure, and a robust industrial base. In 2022, German startups raised around €12 billion in venture capital funding. These factors collectively highlight Germany's dynamic and rapidly evolving startup landscape.
Size of the Market
As of 2023, Germany's startup ecosystem encompasses around 20,000 startups. In 2022, these startups attracted approximately €12 billion in venture capital funding. This substantial investment underscores the ecosystem's growth potential and robust nature. The market's size and financial backing reflect its capacity to foster innovation and sustain a competitive edge within Europe and beyond.
Key Strengths
Germany's startup ecosystem is characterized by several key strengths, including a strong engineering tradition, high-quality research institutions, and a central location in Europe. The country excels in sectors such as automotive tech, industrial manufacturing, and cleantech. These strengths are bolstered by Germany's robust industrial base and government support, positioning it as a leader in the European startup scene.
Major Hubs
Berlin, Munich, and Hamburg are the primary hubs of Germany’s startup ecosystem. Berlin is renowned for its vibrant tech scene, attracting entrepreneurs from around the world. Munich is a key center for deep tech and industrial startups, benefiting from its proximity to major corporations and research institutions. Hamburg excels in logistics and e-commerce, leveraging its strategic location and strong infrastructure. These cities collectively drive Germany's innovation and economic growth.
Emerging Hubs
In addition to the major cities, emerging hubs like Frankfurt, Stuttgart, and Cologne are gaining prominence in Germany’s startup ecosystem. Frankfurt is known for its fintech and financial services, Stuttgart for automotive technology and manufacturing, and Cologne for media and entertainment. These emerging hubs are expanding the reach and diversity of Germany’s entrepreneurial landscape, offering new opportunities for innovation and growth.
Support Systems
Germany’s startup ecosystem benefits from a strong network of incubators, accelerators, and co-working spaces that provide essential support and resources for entrepreneurs. Programs like the German Accelerator and the High-Tech Gründerfonds have been instrumental in supporting early-stage startups by providing funding, mentorship, and resources. This supportive infrastructure is crucial for nurturing startups and fostering a collaborative entrepreneurial environment.
Challenges
Despite its strengths, the German startup ecosystem faces challenges such as bureaucratic hurdles and a relatively risk-averse investment culture. Navigating regulatory frameworks can be time-consuming and complex for startups. Additionally, attracting venture capital can be more difficult compared to more risk-tolerant markets. Addressing these challenges requires strategic efforts and supportive policies to sustain growth and competitiveness.
Opportunities and Future Outlook
Germany has significant opportunities for growth in sectors like automotive tech, industrial manufacturing, and cleantech. The country's strong focus on sustainability and green technology drives innovation in renewable energy and environmental technologies. Germany's strategic location in the heart of Europe provides startups with access to a large market and numerous opportunities for international expansion. With continued investment and innovation, Germany's startup ecosystem is poised for further growth, contributing significantly to the global innovation landscape.
Resilience and Adaptability
Germany's startup ecosystem demonstrates remarkable resilience and adaptability. The country's commitment to innovation, coupled with strong government and institutional support, enables startups to navigate challenges and capitalize on opportunities. The diverse talent pool and high-quality research institutions attract entrepreneurs and investors alike, ensuring sustained growth and success in the face of global economic shifts and market dynamics.
How to connect with Angel Investors in Germany?
Top Angel Investors
Germany's startup ecosystem is significantly supported by influential angel investors who provide crucial early-stage funding and mentorship. Prominent figures include Oliver Samwer, known for his role in founding Rocket Internet and investing in numerous startups, and Frank Thelen, a serial entrepreneur and investor featured on Germany's 'Shark Tank' equivalent, 'Die Höhle der Löwen.' These investors typically contribute between €50,000 and €1 million per deal, offering not only capital but also strategic guidance and industry expertise, which are vital for the growth and development of early-stage companies.
Leading Venture Capital Firms
Germany's venture capital landscape is populated by leading firms that drive substantial investments into high-growth startups. Firms such as Earlybird Venture Capital, HV Capital, and Point Nine Capital are at the forefront, providing significant funding to a wide array of sectors including technology, health, and fintech. Earlybird Venture Capital, for instance, has a diverse portfolio that includes companies like N26 and Smava. These firms typically engage in Series A to Series C funding rounds, with investment sizes ranging from €1 million to €50 million, facilitating substantial scaling opportunities for startups.
Investment Size and Scope
The size and scope of investments in Germany's startup ecosystem vary, catering to different stages of business growth. Early-stage investments, often provided by angel investors, range from €50,000 to €2 million. For growth-stage companies, venture capital firms offer larger funding rounds, typically between €5 million and €50 million. The scope of these investments spans various sectors, including AI, biotechnology, fintech, and cleantech, reflecting the diverse and dynamic nature of Germany's entrepreneurial landscape.
Number of Investments
Germany's venture capital and angel investment activity are robust, with a significant number of deals annually. In 2022, over 500 venture capital deals were recorded, amounting to approximately €12 billion in investments. This high level of activity underscores the vibrancy of the German startup ecosystem, with both angel investors and venture capital firms actively seeking out and funding promising startups across a broad spectrum of industries.
Future Outlook of the Investment Market
The future outlook for Germany's investment market is highly optimistic. With a continued emphasis on innovation and technology, sectors such as AI, biotechnology, and clean technology are expected to drive substantial growth. Government support through initiatives like the High-Tech Gründerfonds further bolsters the ecosystem. As global interest in sustainable and innovative solutions increases, Germany's startups are well-positioned to attract significant international investments, fostering an environment ripe for continued expansion and success.
Support and Mentorship
Support and mentorship are critical components of Germany's startup ecosystem. Angel investors and venture capitalists often provide more than just financial backing; they offer strategic advice, industry connections, and operational support. Programs like the German Accelerator and the High-Tech Gründerfonds enhance this support, offering structured mentorship, resources, and access to capital. This comprehensive support system helps startups navigate early challenges and scale effectively.
Government and Institutional Support
The German government and various institutions play a pivotal role in nurturing the startup ecosystem. Initiatives such as the High-Tech Gründerfonds and the EXIST program provide substantial financial support and incentives. Additionally, organizations like the German Trade and Invest (GTAI) offer grants, loans, and advisory services. This extensive support infrastructure is vital for fostering innovation, reducing financial barriers, and promoting sustainable growth within the startup community.
Conclusion
Germany's startup ecosystem is bolstered by top angel investors, leading venture capital firms, and extensive support systems. With a diverse range of investment sizes and scopes, the market is poised for significant growth. The future outlook remains positive, driven by innovation, government support, and a collaborative environment. As Germany continues to attract global investments and foster entrepreneurial talent, it stands to become a key player in the global startup landscape, contributing to advancements across various high-growth sectors.
Case Studies: Successful Funding Rounds with Angel Investors on Angels Partners
An experienced investor and strategic operator in technology companies having spent 6 years in Yahoo!s strategy and M&A team and working in the venture capial industry since the beginning of 2006. I've been privileged to be involved in investments in Top10, ROLI, TrademarkNow, Tictail, Lovecrafts, Thread, Spotify, YPlan, Hailo, Qype (sold to Yelp), Livebookings, Artfinder, Eyeem, BonusBox, Readmill (sold to Dropbox), HowDo, SumAll, Zopa and many more!
Specialties: venture capital (VC), private equity, corporate development (corp dev), mergers & acquisitions, private equity, strategy development, operational improvement, financial management, corporate finance, financial planning, financial modelling, financial control, due diligence, competitive analysis, market analysis
Tony Corbin
Investing in Software (Web Marketplace Saas..) &b...
Menlo Park , San Fran..., U.S.A. - Israel - Europe: Germany, United Kingdom, France, Italy, Spain, Poland, Romania, Netherlands, Belgium, Czech Republic, Greece, Portugal, Sweden, Hungary, Austria, Switzerland, Denmark, Finland, Slovakia, Norway, Ireland, Luxembourg, Malta, Icelan
Previous Investments
• Vayyar Imaging:
$109000000 (Later stage VC)
• VDOO:
$57000000 (Later stage VC)
• Cloudleaf:
$26000000 (Later stage VC)
• Fakespot:
(Series A)
• Fakespot:
$4000000 (Series A)
• Sumatra:
$2000000 (Seed)
• MRGN:
(Pre Seed)
• MRGN:
(Pre-Seed)
• Ash Wellness:
$3000000 (Seed)
• Ash Wellness:
(Seed+)
• AppliedXL:
$4000000 (Seed)
• AssetDash:
(Pre Seed)
• Tabula:
$3000000 (Pre Seed)
• Naya:
$6000000 (Seed)
• Thorium Data:
$100000 (Pre Seed)
• OpenAxis:
$2000000 (Pre Seed)
• CACTIVATE:
(Pre Seed)
• Grin Gaming:
(Seed)
• Grin Gaming:
(Seed)
• Docket:
(Seed)
• Ask Vera:
(Seed)
• UrsaLeo:
(Seed+)
• Cactivate:
(Pre-Seed)
• Clearforce:
(Seed)
• Paragon Intel:
(Seed+)
• Intrro:
(Seed)
• Bazze:
(Pre-Seed)
• Asset Dash:
(Pre-Seed)
• Finicast:
$13000000 (Seed)
• Very Good Ventures:
$3000000 (Series A)
• Very Good Ventures:
$3000000 (Series A)
• Prellis Biologics:
$35000000 (Series C)
• Prellis Biologics:
$15000000 (Series B)
• Biomason:
$65000000 (Series C)
• Home Delivery Service (HDS Global):
$5000000 (Series Unknown)
• Rizzle:
$17000000 (Convertible Note)
• EnTribe:
$3000000 (Seed)
• Atonarp:
$50000000 (Series D)
• Atonarp:
$2000000 (Series B)
• Atonarp:
$4000000 (Series A)
• Boom Supersonic:
$50000000 (Series C)
• Extend:
$16000000 (Series A)
• Quartic.ai:
$2000000 (Seed)
• Globality:
$27000000 (Series B)
• Globality:
$10000000 (Series A)
• BangDB:
(Seed)
• Reaction:
$10000000 (Series A)
• Reaction:
$2000000 (Seed)
• Shipster:
(Seed)
• H2O.ai:
$9000000 (Series A)
• Trove:
$5000000 (Series A)
• FUTR Corp.:
$5000000 (Seed)
• Yellowsmith:
$850000 (Seed)
• Printi:
$1000000 (Series A)
• GoPro:
$88000000 (Series A)
Tony Corbin
Menlo Park - San Francisco Bay Area, U.S.A. - Israel - Europe: Germany, United Kingdom, France, Italy, Spain, Poland, Romania, Netherlands, Belgium, Czech Republic, Greece, Portugal, Sweden, Hungary, Austria, Switzerland, Denmark, Finland, Slovakia, Norway, Ireland, Luxembourg, Malta, Icelan
Riverwood Capital is a globally-focused private equity firm that invests in high-growth businesses in the technology and services industries, across a variety of verticals and geographies. Riverwood has offices in Menlo Park, CA and New York, NY and currently has more than 20 investments in North America, Latin America and Asia. The firm's current fund has $780 million of committed capital. The final fund close was in April 2011. Riverwood invests in mid-market technology and technology enabled products and services. The firm defines mid-market as approximately $100-$500 million in revenue for product companies, and approximately $25-$150 million in revenue for software and services. Riverwood occasionally invests outside these ranges. Riverwood invests on a global basis, having already invested in the U.S., Israel, Argentina, Chile, and Brazil. The firm's normal investment size ranges from $25-75 million.
Max Rimpel
Investing in Businesses Solutions
New York, U.S.A. - U.K. - Europe: Germany, United Kingdom, France, Italy, Spain, Poland, Romania, Netherlands, Belgium, Czech Republic, Greece, Portugal, Sweden, Hungary, Austria, Switzerland, Denmark, Finland, Slovakia, Norway, Ireland, Luxembourg, Malta, Iceland,
Previous Investments
• Climax Foods:
$44017000000 (Later stage VC)
• Starburst Data:
$118000000 (Later stage VC)
• Fast (Application Software):
$102000000 (Later stage VC)
• Wealthfront:
$75000000 (Later stage VC)
• Duo Security:
$70000000 (Later stage VC)
• Kano Computing:
$28000000 (Later stage VC)
• Figma:
$25000000 (Later stage VC)
• Built Technologies, Inc.:
$21000000 (Early stage VC)
• Behavox:
$20000000 (Later stage VC)
• Less:
$19000000 (Early stage VC)
• Homebell:
$11000000 (Later stage VC)
• Scoop Technologies:
$10600000 (Early stage VC)
• Trouva:
$10000000 (Early stage VC)
• Spendesk:
$8000000 (Early stage VC)
• Gremlin Inc:
$7500000 (Early stage VC)
• Linear:
$4200000 (Early stage VC)
• Supersolid:
$4000000 (Early stage VC)
• Pitch Software:
• Taxfix:
(mid stage)
• arfa, Inc.:
(early stage)
• Personio:
(mid stage)
• ComplyAdvantage:
(mid stage)
• Typeform.com:
(late stage)
• Chalk:
$10000000 (Seed)
• Bandana:
$4000000 (Seed)
• ChannelEngine:
$50000000 (Series B)
• Enigma:
(Seed)
• cargo.one:
$42000000 (Series B)
• cargo.one:
$19000000 (Series A)
• Layer:
$5000000 (Seed)
Max Rimpel
New York, U.S.A. - U.K. - Europe: Germany, United Kingdom, France, Italy, Spain, Poland, Romania, Netherlands, Belgium, Czech Republic, Greece, Portugal, Sweden, Hungary, Austria, Switzerland, Denmark, Finland, Slovakia, Norway, Ireland, Luxembourg, Malta, Iceland,
Investing In
Businesses Solutions
Description
Principal at Index Ventures
Principal at Index Ventures
Roland Manger
Investing in PropTech • Businesses Solutions...
Munich - Berlin, Germany
Previous Investments
• UiPath:
$30000000 (Early stage VC)
• Movinga:
$22000000 (Later stage VC)
• Convargo:
$16000000 (Early stage VC)
• Enevo:
$12000000 (Later stage VC)
• ShapeShift AG:
$10400000 (Early stage VC)
• Curio (Publishing):
$9000000 (Early stage VC)
• Alesi Surgical:
$6000000 (Later stage VC)
• Videdressing:
$5400000 (Later stage VC)
• CrossEngage:
$5000000 (Later stage VC)
• Bitwala:
$4660000 (Early stage VC)
• Energy Robotics:
$2440000 (Seed Round)
• obilet.com:
(Other)
• DCS FAST LINK (dcs plus):
(Later stage VC)
• FintechOS:
(early stage)
• Picus Security:
(late stage)
• Vivense:
(early stage)
• Earlybird Venture Capital:
(early stage)
• Gemini Consulting:
• IncuBus Ventures:
• The Founder Institute:
(late stage)
• Boku, Inc.:
(late stage)
• Callsign:
(early stage)
• ExecuteSales:
(early stage)
• LevelUp:
(mid stage)
• CLANMO GmbH - a MindMatics Company:
• Deutsche Telekom Capital Partners:
(early stage)
Backing ambitious Baltic founders from Estonia, Latvia and Lithuania, building global success stories.
Most Interested In
The best Baltic founders building global businesses.
Not Interested In
Any investments that don't have Baltic founders - sorry, but it is outside our investment scope.
Founders who don't have the "grit" (passion and perseverance) to build big, global, scalable businesses.
Cem Sertoglu
Investing in Software (Web Marketplace Saas..) &b...
Berlin , Istanbul Tur..., U.S.A.
Previous Investments
• Tjobs:
• Traxpay BigchainDB XAIndiana Group:
• Movinga:
$22000000 (Later stage VC)
• Convargo:
$16000000 (Early stage VC)
• Enevo:
$12000000 (Later stage VC)
• ShapeShift AG:
$10400000 (Early stage VC)
• Curio (Publishing):
$9000000 (Early stage VC)
• Alesi Surgical:
$6000000 (Later stage VC)
• Videdressing:
$5400000 (Later stage VC)
• CrossEngage:
$5000000 (Later stage VC)
• Bitwala:
$4660000 (Early stage VC)
• Energy Robotics:
$2440000 (Seed Round)
• obilet.com:
(Other)
• DCS FAST LINK (dcs plus):
(Later stage VC)
• Picus Security:
$24000000 (Series B)
• Picus Security:
$6000000 (Series A)
• N26:
$36000000 (Series D)
• N26:
$100000000 (Series D)
• N26:
$170000000 (Series D)
• N26:
$300000000 (Series D)
• N26:
$160000000 (Series C)
• N26:
$40000000 (Series B)
• Apsiyon:
$5000000 (Series A)
• Apsiyon:
$2000000 (Seed)
• Apsiyon:
$3000000 (Seed)
• TrillerTV:
$2000000 (Series Unknown)
• TrillerTV:
$3000000 (Series Unknown)
• TrillerTV:
$800000 (Debt Financing)
• TrillerTV:
$1000000 (Series Unknown)
• TrillerTV:
$4000000 (Series Unknown)
• Vivense Home & Living:
$5000000 (Series D)
• Vivense Home & Living:
$8000000 (Series C)
• Vivense Home & Living:
$5000000 (Series B)
• Vivense Home & Living:
(Series A)
• Tapu.com:
$1000000 (Seed)
• Tapu.com:
$1000000 (Seed)
• Tapu.com:
$1000000 (Seed)
• Tapu.com:
$530000 (Seed)
• UIPath:
(Seed)
• DCSplus:
(Series A)
• obilet:
(Seed)
• PropertyFinder:
(Seed)
• idemama:
(Series A)
• Lime&Tonic:
$1000000 (Seed)
• HipWay:
$3000000 (Angel)
• CivicSolar:
$460000 (Seed)
• GROU.PS:
$2000000 (Series A)
• GROU.PS:
$500000 (Seed)
• YemekSepeti.com:
(Series A)
• GittiGidiyor:
(Series A)
Cem Sertoglu
Berlin - Istanbul Turkey - Warsaw (Poland) - Prague, U.S.A.
Most Interested In
Consumer-facing e-businesses, including marketplaces, e-tailers, SaaS and SME-focused software companies targeting local markets in CEE & Turkey. Enterprise technology innovators with roots in CEE & Turkey.
Not Interested In
Life sciences, material science, clean tech
Cem Sertoglu serves as Partner at Earlybird Venture Capital. He has several years of experience as an Investor, focusing web-enabled services and consumer internet. Previously, he was a Partner at iLab Ventures, Co-Founder and CEO at Mondus.com, Founder & CEO at SelectMinds and Vice President at Farmer & Company. Pioneering the technology investment sector in Turkey since its inception with his personal investment vehicle Young Turk Ventures, his investments include propertyfinder.ae, Wikimart.ru, Civic Solar, Gittigidiyor.com (Turkey's leading online auctions portal), Yemeksepeti.com (Turkey's leading food order platform) and Grupanya (Turkey's leading daily deal website). He holds a BA in Economics from University of Texas (Austin). He served as Board Member at Fite and Grupanya.
Sales (& Marketing) • A.I. (& Big Data) • Gaming (& eSports) • Mobile Apps • Consumer
Description
Serial Entrepreneur in Esports since 1997
Jens Hilgers is a Co-Owner of G2 Esports. He is also a Co-Founder of Dojo Madness and served as its Chief Executive Officer. Prior to this, he Owned and Co-Founded Turtle Entertainment and served as its Chairman. Jens Hilgers served as the Chief Executive Officer of Geewa. He also served as Chief Executive Officer at GIGA Digital Television. He holds a degree from Bildungszentrum fuer Informationsverarbeitende Berufe.
Pawel Chudzinski
Investing in Software (Web Marketplace Saas..) &b...
Investing in Software (Web Marketplace Saas..) &b...
Boston - Massachusetts, U.S.A. - Western Europe: Austria, Belgium, France, Germany, Ireland, Liechtenstein, Luxembourg, Monaco, Netherlands, Switzerland, United Kingdom
Previous Investments
• ShipMonk:
$290000000 (Private Equity)
• Brooklinen:
$50000000 (Series B)
• AceUp:
$650000 (Pre Seed)
• SidelineSwap:
$2000000 (Seed)
• SidelineSwap:
$2000000 (Seed)
Christopher Dean
Boston - Massachusetts, U.S.A. - Western Europe: Austria, Belgium, France, Germany, Ireland, Liechtenstein, Luxembourg, Monaco, Netherlands, Switzerland, United Kingdom
Vice President, Media & Entertainment, Salesforce Industries at Salesforce
Chief Strategy Officer and Head of BD, @skype (11/08-06/11)
25 years of Consumer, Tech and Finance start-up experience
Kellogg MBA '93, Vassar BA Econ '86
Jag Singh
Investing in Sales (& Marketing) • A.I. (& B...
London - Berlin, Germany - U.K.
Previous Investments
• METRO Xcel:
(early stage)
• Release Platform:
(early stage)
• rtobjects:
• Scoop Retail:
(early stage)
• Collider:
(early stage)
• Ignite Accelerator:
(mid stage)
• Pixoneye:
(early stage)
• Strateusis:
• YouFundMe:
• Labourhome.org:
• MessageSpace:
(early stage)
• SympliFi:
$120000 (Pre Seed Round)
• Lightning Social Ventures:
$120000 (Pre Seed Round)
• 150 Minuten:
(Seed)
• Opna:
$7000000 (Seed)
• Devo:
(Seed)
• Penzilla GmbH:
$3000000 (Seed)
• GAIA:
(Pre Seed)
• Konfetti:
$2000000 (Seed)
• Bling.de:
$4000000 (Seed)
• Widgetbook:
(Pre Seed)
• Surfboard:
$5000000 (Seed)
• handly:
$1000000 (Pre Seed)
• Howbout:
$2000000 (Seed)
• The Companion:
(Pre Seed)
• onyo:
$750000 (Pre Seed)
• Cuvama:
$1000000 (Pre Seed)
• Xeno:
$2000000 (Seed)
• Superglue:
(Seed)
• Codio Impact:
(Pre Seed)
• UpSure:
(Pre Seed)
• beams:
(Convertible Note)
• Sourcery:
$2000000 (Seed)
• Sourcery:
$120000 (Pre Seed)
• SportsIcon:
$6000000 (Seed)
• Halm:
(Pre Seed)
• Machinery Partner:
$5000000 (Seed)
• The bina School:
$1000000 (Seed)
• Bippit:
(Pre Seed)
• Restack:
(Pre Seed)
• Faredirect:
$120000 (Pre Seed)
• Lightning Reach:
$120000 (Pre Seed)
• yoona.ai:
$120000 (Pre Seed)
• Mockmate:
$120000 (Pre Seed)
• Enzyme:
$120000 (Pre Seed)
• LabBox:
$120000 (Seed)
• Creatext:
$120000 (Pre Seed)
• Anytype:
$1000000 (Seed)
• Anytype:
$120000 (Pre Seed)
• MedEngine:
(Pre Seed)
• Grandpal:
$120000 (Pre Seed)
• Recroot:
(Pre Seed)
• Bitback:
$120000 (Pre Seed)
• bestselfy:
(Pre Seed)
• Mello:
(Pre Seed)
• Highre:
(Pre Seed)
• Swayed:
$20000 (Pre Seed)
• Kitchn.io:
(Pre Seed)
• Beelinguapp:
(Pre Seed)
• Eversend:
$150000 (Pre Seed)
• Eversend:
$25000 (Pre Seed)
• Coconut:
$2000000 (Equity Crowdfunding)
• NeuroApplied:
$120000 (Pre Seed)
• FLYT:
$150000 (Seed)
• Stylindex:
(Seed)
• Messly:
$380000 (Angel)
• Stashbee:
$380000 (Angel)
• Zazu Africa:
$200000 (Seed)
• Disperse.io:
$170000 (Angel)
• Pana:
$1000000 (Seed)
• SoundFocus:
$2000000 (Seed)
• Spire Global:
$1000000 (Seed)
• Nutmeg:
$5000000 (Series A)
Jag Singh
London - Berlin, Germany - U.K.
Investing In
Sales (& Marketing) • A.I. (& Big Data) • Web Security (& Privacy) • Advertising • Developer tools • Consumer
Description
Early-stage angel investor, looking for high-growth startups and companies in Europe/US. Techstars Managing Director
Jag Singh serves as Managing Director at Techstars. Singh is a Co-Founder of MessageSpace. He also serves as a Senior Partner at Strateusis. He's founded several companies, and invested in over 70 startups over the last six years, including two that went through Techstars accelerators. He's an ad-man at heart, and spent a decade as a political strategist advising high-profile politicians, campaigns and corporations across the US and Europe.
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