{"id":88450,"date":"2023-01-17T13:31:00","date_gmt":"2023-01-17T12:31:00","guid":{"rendered":"https:\/\/cms.munich-startup.net\/?p=88450"},"modified":"2023-01-17T11:42:28","modified_gmt":"2023-01-17T10:42:28","slug":"2022-in-retrospect-mixed-but-solid","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/88450\/2022-in-retrospect-mixed-but-solid\/","title":{"rendered":"2022 in review: Mixed, but solid"},"content":{"rendered":"
\n

All data on the Munich startup scene in review 2021 come from our\u00a0Data & Insights Dashboard<\/a>If you want to learn more, you can also search the database yourself for further insights.<\/em><\/p>\n\n\n\n

A total of \u20ac2.1 billion was invested in startups from Munich and the surrounding area last year. This corresponds to slightly less than half of the total investment volume in 2021 (\u20ac4.4 billion). While this represents a significant decline in the ecosystem compared to the previous year, the total investment volume is still significantly higher than in 2019, the last year without a crisis. Back then, Munich startups raised a total of \u20ac1.6 billion. The number of investments also declined accordingly: While there were 236 closings in 2021, there were only 197 in 2022. This also led to a decline in the average investment volume from around \u20ac18.6 million in 2021 to \u20ac10.7 million.<\/p>\n\n\n\n

2022 shows problems in the seed and pre-seed phase<\/h2>\n\n\n\n

Numerous mega-investments were responsible for the company's performance in the record year of 2021. There were 10 financing rounds of over \u20ac100 million back then. In 2022, however, there were only four: \u00a0Celonis<\/a> was able to expand its Series D round by $400 million plus an additional $600 million credit line, Personio<\/a> raised an additional 190 million euros in its Series E round, Kinexon<\/a> closed its Series A round with 122.5 million euros and Finn<\/a> secured 103 million euros with its Series B.<\/p>\n\n\n\n

In contrast, there is hardly any difference in financing between \u20ac100 million and \u20ac10 million. 43 rounds of this size were completed in the Munich ecosystem last year, compared to 44 in 2021. A closer look at the average financing size, excluding mega-investments above \u20ac100 million (2022: \u20ac6.9 million; 2021: \u20ac6.3 million), reveals that Munich-based startups in the growth phase were able to secure financing almost unaffected by the crises of 2022.<\/p>\n\n\n\n

Young companies are experiencing problems, especially in their early stages: the number of seed and pre-seed financings fell from 157 in 2021 to 126 in 2022. A trend that was fuelled by the declining start-up activity<\/a> last year is likely to continue for a while.<\/p>\n\n\n\n

The development of individual sectors<\/h2>\n\n\n\n

Also notable in the past year's development is the concentration of invested capital in just a few sectors. The healthcare sector leads the field, with a total of \u20ac429 million invested. In contrast, the sector ranked third last year with \u20ac599 million. The transportation sector, which dominated 2021 with a total of \u20ac1.4 billion, slipped to second place with \u20ac343 million. Third place goes to HR startups, which raised a total of \u20ac264 million (2021: \u20ac370 million). These three sectors thus account for a good half of the capital invested in Munich startups in 2022.<\/p>\n\n\n\n

Although investment volumes generally declined, some sectors also recorded significant increases last year compared to the previous year. For example, the travel sector more than doubled its investment volume from \u20ac52.9 million to \u20ac136 million. The legal sector, which had seen little investment in recent years, also improved to a total of \u20ac63 million. In 2021, it received only \u20ac1.7 million. In contrast, the robotics sector (from \u20ac415 million to \u20ac80.8 million) and marketing (from \u20ac241 million to \u20ac34.6 million) suffered significant losses.<\/p>\n\n\n\n

The total value of the Munich startup ecosystem continues to rise<\/h2>\n\n\n\n

All in all, the Munich ecosystem continued to increase its overall value in 2022, albeit at a somewhat slower pace than the previous year. Based on the total company values, the Munich startup ecosystem was valued at \u20ac53.2 billion at the end of last year. In 2021, the ecosystem was still worth \u20ac46.1 billion. However, the past year did not produce any new unicorns\u2014startups with a valuation of over $1 billion.<\/p>\n\n\n\n

Recently, the number of exits also reached a new high: A total of 33 Munich startups were acquired by other companies or listed on the stock exchange last year. Last year, the founders of 32 startups took such steps. The most sensational of these was probably the acquisition of Fazua by Porsche<\/a> and the acquisition of Reflected by the US company PTC<\/a> have been.<\/p>\n\n\n\n

A review of the fourth quarter of 2022<\/h2>\n\n\n\n

The fourth quarter of the previous year brought a rather quiet end to the year in terms of financing rounds. With a total of just under \u20ac377 million raised, Q4 was the second-worst quarter of the year. The largest sums went to Holidu (\u20ac75 million), The Mobility House (\u20ac50 million), and Limehome (\u20ac45 million) (We have summarized the most important investments of the quarter here<\/a>).<\/p>\n\n\n\n

The number of investment rounds in the fourth quarter of 2022, at 38, was below the level of Q3 (43 financings) and the same quarter of the previous year (55 financings). The average size of the investment rounds was approximately \u20ac9.9 million. In Q3 2022, the average was \u20ac14.8 million, compared to \u20ac27.3 million in the same quarter of the previous year. This also puts the fourth quarter of 2022 slightly below the annual average of \u20ac10.7 million.<\/p>\n\n\n\n

The Munich ecosystem saw a total of four fund closings in the last quarter of 2022. Golding Capital Partners launched two new funds: the "Golding Energy Transition 2022 Fund of Funds" with a total of \u20ac300 million in capital, and the "Golding Buyout Co-Investment 2020 Fund of Funds" reached its final close with \u20ac273 million. Vsquared Ventures launched a new early-stage fund with a volume of \u20ac165 million, and Munich Private Equity Partners raised \u20ac392 million for its fourth fund of funds. The newly added total investment volume is thus \u20ac1.1 billion.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

As a year full of crises, 2022 ultimately also took its toll on Munich's startup scene. But even though the last twelve months were significantly more subdued than the previous year, 2022 proved to be solid. The annual review in numbers.<\/p>","protected":false},"author":33,"featured_media":88453,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5634,1,5635],"tags":[3961,549,783,36,1782],"acf":[],"yoast_head":"\n2022 im R\u00fcckblick: Durchwachsen, aber solide - Munich Startup<\/title>\n<meta name=\"description\" content=\"Als Jahr voller Krisen machte 2022 letztlich auch der M\u00fcnchner Startup-Szene zu schaffen. Doch auch wenn die letzten zw\u00f6lf Monate deutlich zur\u00fcckhaltender ausfielen als das Vorjahr zeigte sich 2022 solide. 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