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After the record-breaking spring that the second quarter brought to the Munich startup scene, investors slowed down in Q3. Startups from the Munich ecosystem were able to raise a total of around €520 million in July, August, and September (We have summarized the most important investments of the quarter in this article). Due to the coronavirus pandemic, the prior-year quarter, with its meager €166 million, once again offers only a limited comparison. It is noteworthy, however, that the total number of financing rounds in Q3 2021 is back at the pre-crisis level of Q1 2020. Back then, Munich-based startups secured a total of around €525 million. Of course, for all periods considered, no figures were disclosed for some financing rounds, which is why the final amounts are even higher.
The largest investment in the now ended quarter was Agile Robots The startup raised 186 million euros (220 million dollars) in its Series C. In second place is Isar Aerospace, which increased its Series B financing by 64 million euros (75 million dollars) to a total of 139 million euros (165 million dollars). And third place went to Air Up with its 40 million euro follow-up financing.
Financing rounds decline slightly
The number of financing rounds follows a similar pattern: With a total of 44 completed funding rounds, Q3 is once again significantly behind Q2 (55 rounds) but at a similar level to the first quarter of 2020 (39 rounds). The average financing amount in the last quarter was around €12 million. In the months before the coronavirus crisis, this figure was €13.5 million.
Exits and new funds
With a total of nine exits, there has been a lot of activity in the Munich startup scene in this area. Leading the way here is the IPO of the flying taxi company Lilium, which has been long awaited and has now been finalized. The remaining exits, however, were classic takeovers, such as that of Corrux by Gropyus, Planerio by the Doctari Group, Alyne by Mitratech or Messengerpeople through Sinch.
The past quarter also brought news in the fund landscape: Two new funds entered the scene this summer: Ananda Impact Ventures' Fund IV, which has reached €65 million after its first closing and is targeting a volume of €90 to €100 million. And Golding Impact Partners' Golding Impact 2021 fund, which is targeting a total volume of €300 million.
