/ Insights / Dutch startups raise €500 million in 2014

Dutch startups raise €500 million in 2014

2014 has been an active year for Dutch startup investment: we listed 75 deals with a total investment of EUR500 million for Dutch startups: Dutch startups raise real money! Here is the complete list and overview of funding trends.

christmas-gifts-presentsFunding is one of the most elusive aspects of the Dutch startup ecosystem: Although we have a mature financial system and low interest rates for other investments, many startups dit not get funding as a xmas present this year. Throughout the year we have tried to cover all deals that did happen. This is part of our goal to provide realistic data to all startups. Now that the year is almost over we decided to build an overview of all the deals in 2014. The result was surprising: more than one startup funding event per week, and thanks to a last-minute € 200 million contribution by Adyen, the total amount in the table is € 500,1 million (and five unknowns of at least € 100.000 each). There are some definite trends in the 2014 data that should help all startups in 2015:

The Netherlands is an open economy

Several Dutch startups have raised large amounts of funding: 10 companies raised more than € 8 million this year. International VCs do not discriminate against Dutch startups as companies like Mendix and Elastic Search show.

The Dutch funding landscape favours bootstrapping.

It is releatively easy to raise a modest amount of funding (less than € 200.000) but hard to raise more than a million at an early stage. This impacts the type of companies founded and slows down growth of some companies compared to Silicon Vally Superstars. Perhaps the StartupDelta initiative can focus on making these bigger ideas easier to fund.

Convertible notes and crowdfunding

In 2014 the convertible notes have gained in popularity, thanks in large part through the work of Leapfunder. With convertible notes it becomes more attractive for investors to make an early high risk investment in a startup, because there is no haggling over company valuation in the beginning. We noted 9 significant convertible notes funding rounds in 2014.

Crowdfunding remained popular, on the various maturing platforms we already have in The Netherlands: Symbid, Oneplanetcrowd and also Geldvoorelkaar.

Funding table

The following table shows all deals we are aware of in descending order. For most of the deals we provided a link to the original StartupJuncture article. For the 19 deals we did not cover, a link to the press release or to the crowd funding campaign page is provided. We are happy to hear about any deals missing from this overview.

nr name amount (EUR) type link
1 Adyen 200,000,000 series B read more
2 Takeaway.com 74,000,000 series B read more
3 Elasticsearch 56,000,000 series C read more
4 Mendix 25,000,000 series B read more
5 Barge master 20,000,000 series A read more
6 Travelbird 17,500,000 series B read more
7 Bright Computing 14,500,000 series B read more
8 Catawiki 10,000,000 series B read more
9 Xebialabs 9,600,000 series A read more
10 Ticketscript 8,600,000 series A read more
11 Encare Biotech 5,500,000 series A read more
12 MyTomorrows 4,500,000 series A read more
13 Mint solutions 4,425,000 series A read more
14 Mimetas 4,160,000 series A read more
15 Pluriomics 4,000,000 series A read more
16 3DHubs 3,500,000 series A read more
17 Blendle 3,000,000 series A read more
18 Eternal Sun 2,000,000 series A read more
19 Wercker 2,000,000 series A read more
20 Scoupy 2,000,000 series A read more
21 Aito 2,000,000 series B read more
22 Peerby 1,700,000 series A read more
23 Ocean Cleanup 1,600,000 crowdfunding read more
24 Casengo 1,500,000 series A read more
25 TagTagCity 1,500,000 series A read more
26 Physitrack 1,300,000 series A read more
27 Syndicateplus 1,200,000 seed read more
28 Fitmo 1,200,000 series A read more
29 Zeef 1,200,000 series A read more
30 Cloakroom 1,200,000 series A read more
31 Miairline 1,200,000 series A read more
32 Voradius 1,000,000 series A read more
33 Ringcredible 1,000,000 series A read more
34 Studytube 800,000 series A read more
35 CollaBorne 800,000 seed read more
36 RobinHQ 800,000 series A read more
37 Snappcar 560,000 crowdfunding read more
38 Mobypark 500,000 series A read more
39 WasBundles 410,000 seed read more
40 Zeef 400,000 seed read more
41 Mobbr 400,000 seed read more
42 Speakap 328,000 series A read more
43 AttachingIT 300,000 seed read more
44 Bundle (photos) 250,000 convertible notes read more
45 Plot projects 245,000 convertible notes read more
46 Equidam 225,000 seed read more
47 Stexfibers 200,000 seed read more
48 TradeCloud 200,000 seed read more
49 In Ovo 200,000 seed read more
50 HubHub 200,000 seed read more
51 Undagrid 200,000 convertible notes read more
52 Kidswatcher 150,000 crowdfunding read more
53 Leapfunder 140,000 convertible notes read more
54 Buzzoek 138,000 crowdfunding read more
55 Favoroute 115,000 convertible notes read more
56 Oedipus 100,000 crowdfunding read more
57 Ockyz 100,000 crowdfunding read more
58 Giaura 100,000 convertible notes read more
59 Yippie 100,000 convertible notes read more
60 TruQu 96,000 crowdfunding read more
61 Double Dutch design 87,500 seed read more
62 StoreCorporation 85,000 crowdfunding read more
63 ProctorExam 85,000 convertible notes read more
64 Discovered 70,000 crowdfunding read more
65 Halal Vitamins 65,000 crowdfunding read more
66 Live on Demand 55,000 convertible notes read more
67 Crowdyhouse 51,000 convertible notes read more
68 Tide microfluidics 50,000 seed read more
69 Locals united unknown seed read more
70 Zazzy unknown seed read more
71 Social Shop unknown seed read more
72 Roomlr unknown seed read more
73 Hubly unknown seed read more
74 Wugly uknown seed read more
75 Adyen (note 1) 16,000,000 series A read more
76 Tamoco (note 2) 5,000,000 series A read more

One honourable mention should go to Quality Circular Polymers, an innovative chemicals company founded in april 2014 at Chemelot. They received in their first year an investment of 75 million euros from their strategy investors:  SITA, LIOF and Chemelot Ventures, next to the Province of Limburg, Limburgs Energie Fonds and the Community of Sittard-Geleen. We have not included them in the list since at the time of the list creation we believed this to be an already established company, but after reconsideration we believe this is also a deal that we as  The Netherlands can be proud of, and we are looking forward to hear more from this company and other startups like QCP. 

 
Photo by Pieter van Marion (creative commons via Flickr)

Sieuwert van Otterloo
Sieuwert van Otterloo is IT expert by day and startup enthusiast by night. IT expert via Softwarezaken | innovation expert via Node1 | editor and cofounder of StartupJuncture | member of StartupDelta | startup investor. Reach out to Sieuwert via otterloo @ gmail .com
  1. A pity that QCP is not mentioned knowing that we would have been in the top-5!

  2. Nice overview, but one remark: Adyen is founded in 2006 and therefor not really a startup but a 3rd growth company. But he, we should off course support investments in Dutch growing companies in every stage big time!

  3. Samir Saberi says:

    Hi Sieuwert, great list! I do think however that you can delete Tamoco from the list. Although they applied for the Startupbootcamp’s NFC & Contactless program of 2013 they dropped out before demo day and have been building their company in London ever since. For the Chinese private equity firm First Eastern Investment Group Tamoco is the smallest investment to date in the UK.

  4. Mis BrightPensioen (BrightNL) nog in je lijstje. Wij hebben ook EUR300.000 met crowdfunding opgehaald (seed capital) via Symbid.

  5. Carl says:

    http://www.oneplanetcrowd.com/nl/project/80537onnektid ontbreekt nog met 106k crowdfunding via een convertible note bij Oneplanetcrowd.

  6. Frits Tolman says:

    Look into Homey from Twente University

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