Dutch startups have raised 76.2 million euro in the second quarter of 2016. We saw slightly more funding activity compared to the previous quarter, as 69.4 million euro was raised in Q1 2016. This quarter, startups however raised less money compared to the same period last year, when 105 million euro was raised.
In total, we saw 44 deals in the second quarter of this year. The average deal size in Q2 2016 was €1.7M and the median deal size was €697.5K.
Now lets compare this to Q1 2016. There we saw 39 deals, an average deal size of €1.8M and a median deal size of €910K. So these numbers show that there hasn’t been much improvement, only in number of deals. On the other hand Q2 2016 is the quarter with the most deals since we started measuring per quarter in 2015.
The Q1 numbers have been updated for this overview.
We clearly see a quarter-on-quarter rise for the second time in a row. However, this year’s amounts are obviously less than their 2015 counterparts.
Top 5 deals
We didn’t see much big startup funding deals this quarter. In the top 5 were just two deals over 5 million euro. Medtech startup G-Therapeutics leads this Q2 list with a whopping 26 million euro investment. Cybersecurity startup EclecticIQ raised 5.5 million euro, retail startup Roamler got 4.5 million euro and fintech startup InvoiceFinance got funded for 3.4 million euro. SOWIFI, according to us, is also close making the top 5 deals diverse when looking at types of industry.
Fintech on the rise
Overall, we saw a lot more Dutch fintech deals in Q2 compared to the previous quarter. In Q1 we noted two deals, for BUX and OpenClaims. This quarter we counted 6 deals: InvoiceFinance, Surence, Sposea, Musoni, Tabster and Daalder. The investment in blockchain startup Bitwala could also count.
Here’s the full list of Dutch startup funding in Q2 2016, ranked highest to lowest.
| Name | Amount (EUR) | Type | By | Who | More information | Investment from |
|---|---|---|---|---|---|---|
| G-Therapeutics | 26,000,000 | series A | VC | LSP, INKEF Capital, Gimv, Wellington Partners | StartupJuncture | EU, NL, BE, DE |
| EclecticIQ | 5,500,000 | series A | VC + corporate | INKEF Capital + KPN Ventures | StartupJuncture | NL |
| SO WIFI | undisclosed | private equity | VC | 5square | StartupJuncture | NL |
| Roamler | 4,500,000 | series A | VC | Endeit Capital | StartupJuncture | NL |
| InvoiceFinance | 3,400,000 | seed | VC + angel | Peak Capital + Kalo Bagijn | StartupJuncture | NL |
| Fastned | 3,000,000 | crowdfunders | via Nxchange | Fastned | ||
| MDLinking | 2,500,000 | seed | angels | Alec Behrens e.a. | FinSMEs | |
| Peerby | 2,000,000 | convertible notes | crowdfunders | OnePlanetCrowd | OnePlanetCrowd | NL |
| Fixico | 2,000,000 | series A | VC | Orange Growth + others | StartupJuncture | NL, UK |
| Connecterra | 1,600,000 | seed | VC’s + accelerator + angel | MENA Ventures (MVI), DeNA, Breed Reply, Elias Tabet | StartupJuncture | UAE, JP, UK |
| The Ocean Cleanup | 1,500,000 | gov + corporate + angel | ministries I&M, EZ + Boskalis + philanthropist | StartupJuncture | NL | |
| CytoSMART | undisclosed | VC + gov | Holland Venture, BOM | StartupJuncture | NL | |
| Impraise | 1,400,000 | seed | VC | HenQ, Palm Drive, China Growth Capital | StartupJuncture | NL, US, CN |
| Bidroom | 1,000,000 | informal investors | undisclosed | StartupJuncture | ||
| Surence | 1,000,000 | seed | undisclosed | undisclosed | Dealroom | |
| Sposea | 1,000,000 | series A | undisclosed | undisclosed | Dealroom | |
| Musoni System | undisclosed | private equity | Goodwell | Index | NL | |
| Autheos | undisclosed | VC + angel | Holland Venture + Guy Bradley | StartupJuncture | NL + US | |
| L1nda | 1,000,000 | series A | VC’s | Newion Investments + DHG | StartupJuncture | NL + US |
| Bitwala | 800,000 | seed | VC | High-Tech Gründerfonds + Digital Currency Group | Dealroom | DE + US |
| Optics11 | undisclosed | seed | VC | Value Creation Capital | StartupJuncture | NL |
| Pneusmart | 745,000 | seed | angels | FinSMEs | NL + IT | |
| Part-up | 650,000 | seed | angels | undisclosed | StartupJuncture | NL |
| Bleeve | 600,000 | seed | Stichting DOEN e.a. | StartupJuncture | NL | |
| Otrium | 600,000 | seed | VC | Keadyn + others | StartupJuncture | NL |
| Media Distillery | 600,000 | seed | VC + CEO | Peak Capital + Vortex Capital Partners + Roland Sars | StartupJuncture | NL |
| PlotProjects | 585,000 | convertible notes | crowdfunders | Leapfunder | Leapfunder | NL |
| ParkFlyRent | undisclosed | VC + buy in | Dasym + Jochem de Boer | StartupJuncture | NL | |
| Jellow | 500,000 | seed | gov + angels | NOM | StartupJuncture | NL |
| Magnetic.io | 500,000 | seed | VC | Volta Ventures | StartupJuncture | BE |
| Lone Rooftop | 500,000 | seed | VC + co-founder | Mamadoo Ventures + Reinoud Elhort | StartupJuncture | NL |
| Symbid | 490,000 | convertible loan | ||||
| SocialAudience | undisclosed | seed | VC | Axivate Capital | StartupJuncture | NL |
| Yubu | 300,000 | seed | corporate + angel | Kickstart Venlo | Vectrix | NL |
| Cohere | 300,000 | seed | VC + corporate + angel | undisclosed | StartupJuncture | NL |
| Speedcomfort | 272,000 | convertible notes | crowdfunders | OnePlanetCrowd | OnePlanetCrowd | NL |
| Bardoggy | undisclosed | angel | Nick Stals | StartupJuncture | NL | |
| Tabster | 227,000 | convertible notes | crowdfunders | Leapfunder | Leapfunder | NL |
| Iristrace | 200,000 | venture | VC | Bbooster Ventures | Dealroom | ES |
| Superbuddy | 157,500 | convertible notes | crowdfunders | Leapfunder | Leapfunder | NL |
| Senfal | undisclosed | seed | corporate | Anode Energie | StartupJuncture | NL |
| Grwo | 100,000 | seed | corporate | Microsoft | StartupJuncture | US |
| PickThisUp | undisclosed | seed | angels | undisclosed | StartupJuncture | NL |
| Daalder | 50,000 | convertible notes | crowdfunders | Leapfunder | Leapfunder | NL |
| Geophy | undisclosed | VC | INKEF Capital | INKEF (pdf) | NL |
Important notes
As always: a little disclaimer for the creation of this funding report.
The goal of the list is to give an overview of investments into startups. We do not include pre-sales crowdfunding (like on Kickstarter), only convertible note or equity crowdfunding. We typically also don’t count grants and subsidies. We don’t mention funding below 50.000 euro. Majority stakes or takeovers don’t count for our list.
When an investment size was undisclosed, our team made an educated guess. In several cases of undisclosed funding the exact amount is known by the editorial team. Out of respect for founders and investors we choose not to publish those numbers. They do however add up in the total amount of funding.
A startup should also have a Dutch connection: either the company must be based in The Netherlands or have Dutch founders.
For the definition of a startup: this is always arbitrary. The complete table should be helpful though for anyone who defines the term ‘startup’ differently. In the past we included big fish scale-ups like Adyen and Catawiki because they’re still growing fast (and are max ten years old).
We tried to use all available public data sources. We relied on communication directly to the StartupJuncture team, information from incubators and accelerators, other media, information from crowdfunding platforms (Symbid, Leapfunder and OnePlanetCrowd) and from Dealroom, Index.co, Crunchbase and Angellist.
Of course, we are aware we might have missed something. This funding report however gives you a good impression and is best used as an indication of the state of startup funding in The Netherlands. If there’s something missing, just give us a heads up in the comments or via team(at)startupjuncture.com.
Main image: Pixabay