Venture capital investments in German startups hit a record level in the first half of 2017, with Berlin seeing a huge rise in funding for its startup scene, a new report shows.
Funding rounds for startups in Germany and the overall value of funding hit record levels in the first six months of this year, a report released this month by professional services firm EY reveals.
The total number of investments in German startups rose by 6 percent in comparison with the same period in 2016, to 264.
But the really explosive growth was seen in the overall size of investment. In the first half of this year, €2.163 billion of investors’ money went into startups, an increase of roughly €1.2 billion in comparison with the first half of 2016.
That growth was mainly driven by the e-commerce sector. At €939 million, over 40 percent of overall funding went into e-commerce. But health, FinTech and software startups all saw significant investment growth.