Dutch startups raise 84.4 million euro in Q3 2016 – investments slowly crawl up

Startups from The Netherlands have raised 84.4 million euro in the third quarter of 2016. For the third consecutive quarter the amount rose, however, the number of deals took a drop. The numbers show the investment climate is slightly recovering, however, the amount raised is still way less than the same quarter in 2015.

In total, we saw 25 deals in Q3 2016. The average deal size this quarter was €3,4M and the median deal size was €1M.

Compared to Q2 2016, the total amount of funding for Dutch startups rose from 77.2 to 84.4 million euro. Last quarter had way more deals: 45 compared to 25, resulting in a higher average deal size this quarter: 1.7 versus 3.4 million euro.

But compared to the same quarter last year, investments in Dutch startups are still behind, when 178.1 million euro was raised. However, this year we see the total amount of funding crawl up after a poor Q4 2015.

Check out the full article with graphics, stats and a list with all investments on StartupJuncture.

When we analyzed the number of deals compared to the average funding size, we see something funny this quarter. Where the number of deals and the average deal size in previous quarters are somewhat in line (with Q4 2015, Q1 2016 and Q2 2016 clearly showing less money per deal), this quarter it's completely the other way around: less deals, more money. This can be explained by more later stage investments (series A and up), instead of lots of seed rounds. Also, we didn't saw much crowdfunding success in Q3. 

Top 5

In this quarter's top 5 we saw three big investments of 10 million euro or more. Bynder (€22M series A), Gitlab (€17.8M series B) and NightBalance (€12.5M series B) are followed by 3D Hubs and Mint Solutions, who both closed series B investments. It sure feels good to finally see some series B investments in Dutch startups again. Remarkable but not so remarkable: the big money still comes from US investors.

Netherlands vs. Europe

According to Dealroom, European tech companies have raised significantly less venture capital this quarter: 3.2 billion euro. In The Netherlands the investments fortunately have gone up, and we didn't saw an overall decline (series A and B). Funding in Dutch startups still doesn't have a big impact in the larger picture, however it's good to notice we focus on startups primarily and not all tech companies. We do recognize the decline in seed rounds. This can be caused, cleverly noted by Dealroom, that some data has yet to be shared.