/ Insights / Dutch startups raise nearly € 80 million in first quarter 2015

Dutch startups raise nearly € 80 million in first quarter 2015

The StartupJuncture quarterly investment overview shows that more than 30 Dutch startups have raised 79 million euros in the first quarter of 2015: a 60 percent increase in number of deals. Median investment amount is 1 million euros.  The biggest investment round was that of WeTransfer of 22 million euros.

 Last December, StartupJuncture made the first overview of Dutch startup investments by creating a list of all publicly announced startup investments. For the whole of 2014 this added up to 75 deals and a total amount of 500 million euros. The good news is that 2015 promises to be even better in number of deals: with 32 deals, Q1 2015 is the most active quarter so far with a 60 percent increase in deal activity.

In terms of funding amount, the median amount is exactly € 1 million. Half the startups raise less that this amount, typically from informal investors or specialized funds. An increasing number of startups are using convertible notes for their first funding (plot projects, Storecove, Ulu, Live on Demand): this avoids any premature valuation discussions.

In the top half of the list, three startups have raised more than 10 million euros: WeTransfer (22 million), AppMachine (13 million) and Bottlenose (12 million). Surprisingly these are all software startups: no life science startups or hardware startups, who typically spend more money, have raised such amounts. The common wisdom, that software startups are cheaper than hardware and life science startups, needs to be updated.

Last year De Volkskrant noted from their own research that most money seems to come from International investors. On special request by De Volkskrant we have included this information to our analysis as well. We added an extra column with the investment source. Dutch ecosystem or International investors, based on the lead investor. 44 percent of the money comes from the Dutch ecosystem. In our view this is a healthy amount. Apparently there is enough funding available in the Dutch ecosystem, but Dutch startups also have access to International investors. Note that the percentage is not exact: there is often a group on investors from different countries involved in the larger deals.

Startups that are not listed in the overview but that receive an honourable mention are:

Below is the full table of all deals, with links to source where available. In case the amount of funding is not published, we have made an educated guess based on the information available (e.g. “several millions” was estimated as 3 million for Hemics).

rank name amount published investment type investment source more information
1 WeTransfer 22,000,000 series B / series C International (Highland) StartupJuncture
2 AppMachine 13,400,000 series B International (Endurance International) StartupJuncture
3 Bottlenose 12,000,000 series B Dutch (KPMG) StartupJuncture
4 FastNed 4,500,000 Convertible notes Dutch (Breesaap) FastNed
5 Hemics unknown (millions) series A Dutch (Friesland) StartupJuncture
6 BigSolar 3,000,000 series A Dutch (Akef, Doen, Maarten van den Biggelaar) FD
7 Tribes unknown (millions) series A Dutch (Marcel Boekhoorn, Michiel Moller) FD
8 Iceleads 3,000,000 series A Dutch (Vortex) FD
9 Crowdynews 2,500,000 series A Dutch (Dutch Inkef Capital) StartupJuncture
10 Dimenco unknown series A International (Leyard Photoelectronics) FD
11 Star Engines 2,000,000 seed International (unknown) StartupJuncture
12 Clear Flight Solutions 1,600,000 seed Dutch (Cottonwood Euro Tech Fund) StartupJuncture
13 Authasas unknown seed Dutch (InnovationQuarter) StartupJuncture
14 Framer 1,200,000 seed International (Foundation Capital, Greylock Partners) StartupJuncture
15 Spaceboxx 1,000,000 seed Dutch (Michiel Muller, Marc Schröder, Maarten Beucker, Marijn Muijser) StartupJuncture
16 Reclamefolder.nl unknown series A Dutch (RTL Ventures) FD
17 Housing Anywhere 885,000 seed Dutch (HenQ, Heuvelrug) StartupJuncture
18 Tiqets 870,000 seed unknown (unknown) StartupJuncture
19 PhoeniX Software 500,000-1,000,000 seed Dutch (Twente technology fund) StartupJuncture
20 Peecho 700,000 series A Dutch (Peak Capital) StartupJuncture
21 Manus Machina 650,000 seed International (Yu Ming Fang ) StartupJuncture
22 Jobado 550,000 seed unknown (unknown) StartupJuncture
23 Plot Projects 550,000 convertible notes Dutch (Leapfunder) Company website
24 Symbid 547,000 seed International (unknown) StartupJuncture
25 ZonnepanelenDelen (We Share Solar) 500,000 seed Dutch (DOEN, ifund, private investor) ZonnepanelenDelen
26 SendCloud unknown series A Dutch (SanomaVentures) StartupJuncture
27 Avular 450,000 seed International (unknown) StartupJuncture
28 Dashmote 450,000 pre-seed unknown (unknown) StartupJuncture
29 ReSnap 395,000 seed unknown (unknown) StartupJuncture
30 Storecove 150,000 convertible notes Dutch (unknown) StartupJuncture
31 Ulu 140,000 convertible notes Dutch (Leapfunder) Leapfunder
32 Live on Demand 75,000 convertible notes Dutch (Leapfunder) Leapfunder
33 ProctorExam 50,000 Convertible notes Dutch (Leapfunder) Leapfunder

Image credit: Paulina101 @ Pixabay

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. Great to see the number of deals on the rise, as well as the amount of funding per deal getting to a serious level. Even without a “unicorn” to prop up the numbers (like in 2014) 2015 has made a solid start!

    • Sieuwert van Otterloo says:

      Hi Bjorn, congrats on the funding. Zurff was not listed because we used a line of 50.000 euros for newsworthy funding. The Zurff campaign was just below the line at 40.000.

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