All following data on startups in Munich comes from our Data & Insights DashboardIf you want to learn more, you can also search the database for further insights. For easier handling, we have created a Guide which explains the most important functions.
That Munich is firmly established as a startup hub in Europe A recent analysis of data from our new Data & Insights dashboard revealed this. When looking at the number of current and potential unicorns, financing rounds, and the effects of the coronavirus crisis, the state capital performed well compared to other European metropolises, taking a commanding fourth place behind London, Paris, and Berlin. But what exactly does this successful ecosystem look like?
The startups in Munich
There are currently over 1,300 startups in Munich. These are spread across 27 different industries, with some startups belonging to multiple sectors. For example, Happybrush can be found in both the "Health" and "Wellness & Beauty" categories.
By far the largest sector in which Munich startups are active is "Enterprise Software." This currently includes 261 startups that have already raised a total of 172 million euros in funding this year. The most recent User lane successful, the startup announced in July the completion of a Series B financing of 10 million euros.
"Health" and "Media" are the second and third largest startup sectors in Munich, respectively. The health sector in the state capital currently boasts 143 startups, which raised €123 million in funding in 2020. Teleclinic, one of the startups in this sector, also achieved a significant exit: The company was acquired by the Zur Rose Group in JulyOur Data & Insights dashboard estimates the startup's value at around €50 million at this time. In the media sector, which comprises 141 startups, things are a bit quieter. There were significantly fewer financing rounds here this year: only Scompler and Storybox were able to raise seven-figure sums, and Earlygame and The Story Market also received smaller financial injections.
Other strong sectors in Munich include marketing (125 startups), fintech (119 startups), and transportation (119 startups). In this area, the tool summarizes startups from logistics, mobility, and sensor technology, which are important for autonomous driving.
A look at the business models reveals that the majority of startups (52 percent) rely on software-as-a-service. Marketplace and e-commerce solutions, in contrast, are used by only 22 percent of young companies. In contrast, 26 percent are active in the production of physical products.
Accelerators and investors
Munich startups have already raised a total of €805 million in funding this year. This means that venture capital activity has shown little change compared to the previous year, despite the coronavirus crisis. One advantage of Munich's ecosystem is that many investors are based locally: A total of 496 investors are based in the city. These include not only numerous corporates (122) and venture capital funds (113), but also nearly 150 angel investors. In addition, 24 accelerators are helping startups get off the ground.
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