Germany’s Tech scene is on fire. After total funding to German Tech companies doubled in 2014 to $1.28B, VC-backed Tech companies raised a whopping $1.15B in Q1’15 across 58 deals. The feverish pace is the first quarter since 2011 to break the $1B barrier. Overall, deals and dollars were up 76% and 419% respectively versus the same quarter a year prior.
Rocket Internet dominates top deals.
The funding explosion was led by food delivery unicorn Delivery Hero, which raised $563M from Rocket Internet at a $1.88B valuation. The top 10 largest deals in Germany in Q1’15 were all to eCommerce companies, while 4 of the 5 largest deals went to companies backed by Rocket Internet, with WindeIn.de, an online retailer for baby and children products, being the lone company not backed by the German titan.
|Delivery Hero||563||Corporate Minority|
Berlin takes over half of all deals in Q1
Berlin continued to dominate the German Tech scene, with over half of all deals (and 4 of the 5 largest) were all to companies based in the capital. Munich was second with Rocket Internet-backed Westwing Home & Living raising a $29.7M Series C at a $532M valuation.
High-Tech Gruenderfonds is most active VC
Early-stage investor High-Tech Gruenderfonds was the most active VC in German Tech companies in Q1’15. The top 3 was rounded out by IBB Beteiligungsgesellschaft and German Startups Group as all three investors focused largely on the seed stage.
|2||IBB Beteiligungsgesellschaft||8||Creathor Venture|
|3||German Startups Group||8||Kite Ventures|
|4||Capnamic Ventures||8||DN Capital|
|4||Seventure Partners||8||Point Nine Capital|
|4||Iris Capital||8||Tengelmann Ventures|
|8||Munich Venture Partners||8||Global Founders Capital|
|8||Highland Capital Partners||8||Yabeo Capital|