Although like most European tech ecosystems it suffered amid market shakes — year on year VC funding was down 43%, from $21bn in 2021 to $12.1bn in 2022, according to Dealroom — there are signs that 2023 is looking a little brighter. Funding into German startups fared better than expected in the first quarter of the year, up 28% on Q4 2022.
Scroll down for this year's selection of German startups to watch, based on funding momentum (how quickly a company has raised at each stage), market opportunity, competitive advantage and investor strength. These companies, which span all sectors and stages, made a big impact in 2022 and are expected to continue to do so in 2023.
Ottobrunn, Germany
2018
Series C
€150m
€320.7m
Berlin, Germany
2016
Series D
€40m
€245.1m
Berlin, Germany
2016
Series C
€100m
€219m
Berlin, Germany
2020
Series C
€100m
€175m
Berlin, Germany
2015
Late VC
-
€174.9m
Munich, Germany
2015
Growth Equity VC
€34m
€159m
Berlin, Germany
2016
Series C
€90.9m
€134.4m
Munich, Germany
2019
Series B
€102.7m
€131.5m
Berlin, Germany
2019
Late VC
€62.7m
€129.3m
Berlin, Germany
2019
Series B
€75m
€126.4m
Berlin, Germany
2018
Series B
€77.3m
€124m
Berlin, Germany
2016
Series C
€29.1m
€122.2m
Berlin, Germany
2017
Media For Equity
€39m
€114m
Berlin, Germany
2018
Series B
€34.2m
€111.5m
Dresden, Germany
2017
Series C
€76.4m
€111m
Heidelberg, Germany
2015
Series B
€57.3m
€109.5m
Planegg, Germany
2016
Series B
€65m
€105m
Munich, Germany
2021
Series A
€102.5m
€102.5m
Berlin, Germany
2018
Series B
€86.4m
€98.7m
Berlin, Germany
2015
Late VC
€45.5m
€95.7m
Munich, Germany
2015
Series C
€92.5m
€95.4m
Munich, Germany
2020
Series B
€50m
€88.5m
Hanover, Germany
2016
Series B
€69.1m
€85.1m
Munich, Germany
2018
Late VC
€45m
€81.2m
Berlin, Germany
2017
Series C
€44m
€81m
Berlin, Germany
2015
Series C
€54.5m
€80m
Hamburg, Germany
2016
Series B
€58.2m
€75.8m
Munich, Germany
2016
Series B
€60m
€72m
Berlin, Germany
2018
Series B
€54.5m
€69.5m
Würzburg, Germany
2015
Secondary
-
€69.1m
Berlin, Germany
2016
Series B
€36m
€67m
Cologne, Germany
2018
Series B
€66.4m
€66.4m
Berlin, Germany
2015
Series A
€11.3m
€65.1m
Munich, Germany
2018
Grant
€2.2m
€64.9m
Berlin, Germany
2021
Series A
€11.8m
€63.6m
Düsseldorf, Germany
2016
Series B
€13.6m
€61.1m
Munich, Germany
2019
Late VC
€40m
€60.3m
Weiterstadt, Germany
2017
Series A
€38.2m
€60.1m
Munich, Germany
2018
Series B
€18.2m
€59.5m
Berlin, Germany
2020
Series B
€36.4m
€58.7m
Düsseldorf, Germany
2018
Series B
€45.5m
€58m
Gütersloh, Germany
2018
Series A
€45.5m
€55.8m
Berlin, Germany
2015
Series C
-
€55.5m
Berlin, Germany
2017
Series B
€38.2m
€54.5m
Berlin, Germany
2016
Series A
€54.5m
€54.5m
Berlin, Germany
2016
Series B
€36.4m
€51.4m
Berlin, Germany
2019
Late VC
€25.2m
€50.2m
Munich, Germany
2017
Series A
€50m
€50m
Berlin, Germany
2016
Series B
€35m
€47.7m
Cologne, Germany
2017
Seed
-
€45.5m
Gilching, Germany
2021
Series A
€40m
€45.3m
Berlin, Germany
2016
Late VC
-
€45m
Berlin, Germany
2021
Series A
€30.9m
€44.5m
Munich, Germany
2018
Series B
€35m
€44.5m
Essen, Germany
2018
Series A
€32.5m
€44.5m
Berlin, Germany
2019
Series A
€40m
€44m
Berlin, Germany
2020
Series A
€26m
€44m
Hamburg, Germany
2018
Series B
€31.8m
€44m
Munich, Germany
2016
Series B
€25m
€42m
Berlin, Germany
2018
Series B
€27.3m
€40.9m
Munich, Germany
2017
Debt
€13.7m
€39.1m
Ludwigsburg, Germany
2018
Series B
€29m
€38.5m
Munich , Germany
2016
Late VC
€24m
€36.6m
Berlin, Germany
2020
Late VC
€5m
€36.5m
Kiel, Germany
2019
Series A
€22.7m
€36.2m
Berlin, Germany
2020
Series A
€29m
€36m
Munich, Germany
2018
Series B
€27.3m
€35.7m
Berlin, Germany
2015
Series C
€16m
€35.2m
Berlin, Germany
2021
Series A
€26.8m
€35.1m
Hamburg, Germany
2015
Late VC
€25m
€35m
Munich, Germany
2019
Series A
€35m
€35m
Gilching, Germany
2015
Series A
€15.9m
€30.9m
Berlin, Germany
2019
Series A
€23.5m
€30.5m
Munich , Germany
2018
Series A
€25m
€30.4m
Berlin, Germany
2018
Debt
€131.8m
€30.3m
Munich, Germany
2018
Series A
€14.6m
€30.2m
Berlin, Germany
2018
Series A
€30m
€30m
Munich, Germany
2020
Seed
€8.5m
€30m
Berlin, Germany
2020
Seed
€30m
€30m
Hamburg, Germany
2019
Series A
€25m
€29.3m
Berlin, Germany
2020
Series A
€26.6m
€29.2m
Hamburg, Germany
2017
Series A
€3.5m
€29m
Munich, Germany
2018
Late VC
€5m
€29m
Berlin, Germany
2018
Series A
€25m
€28.4m
Munich, Germany
2020
Series A
€27.3m
€27.3m
Berlin, Germany
2017
Series B
€25m
€25.5m
Berlin, Germany
2021
Seed
€13.6m
€25m
Potsdam, Germany
2018
Series A
€18.2m
€24.3m
Hamburg, Germany
2018
Grant
€15m
€24.1m
Munich, Germany
2019
Series A
€20m
€23m
Munich, Germany
2017
Series B
€17m
€21m
Munich, Germany
2015
Series A
€20.4m
€20.4m
Berlin, Germany
2016
Series A
€11m
€20m
Berlin, Germany
2015
Series A
€7m
€20m
Berlin, Germany
2017
Series A
€20m
€20m
Berlin, Germany
2017
Series A
€10.9m
€19.7m
Berlin, Germany
2015
Series B
€12m
€19.5m
Munich, Germany
2021
Series A
€15m
€19.3m
Berlin, Germany
2018
Seed
€6.8m
€18.6m
Rostock, Germany
2016
Convertible
€9.1m
€18.2m