{"id":92583,"date":"2023-07-06T09:31:00","date_gmt":"2023-07-06T07:31:00","guid":{"rendered":"https:\/\/cms.munich-startup.net\/?p=92583"},"modified":"2023-07-06T10:37:46","modified_gmt":"2023-07-06T08:37:46","slug":"spring-in-retrospect-no-luck-for-the-munich-startup-scene","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/92583\/spring-in-retrospect-no-luck-for-the-munich-startup-scene\/","title":{"rendered":"Spring in Review: No Luck for Munich's Startup Scene"},"content":{"rendered":"
\n

All following data on the Munich startup scene comes \u2013 unless otherwise stated \u2013 from our Data & 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

In the second quarter of 2023, Munich-based startups raised around \u20ac437 million in capital \u2013 significantly less than in Q1 (\u20ac704 million) and the same quarter of the previous year (\u20ac803 million). The second quarter of 2021 also saw significantly more funding, at \u20ac1.9 billion. However, if we compare it to the last pre-crisis spring, Q2 2019, the months of April to June 2023 show an outstanding performance. Back then, only \u20ac33.9 million were raised. For all periods considered, no figures were announced for some financing rounds, which is why the final amounts are even higher.<\/p>\n\n\n\n

Less money, fewer financing rounds<\/h2>\n\n\n\n

Large financing rounds did not dominate the funds raised this spring as much as usual. In Q2 2023, there was only one financing round above \u20ac100 million, the \u20ac150 million investment in Jolt Energy. (We have summarized the most important financing transactions of the past quarter here.<\/a>) The differences compared to the previous year's quarters become significantly smaller if these mega-rounds are excluded. Thus, the \u20ac287 million for Q2 2023 is reduced to \u20ac400 million in Q2 2022 and \u20ac527 million in Q2 2021.<\/p>\n\n\n\n

In addition to the total amount of investments, the number of financing rounds also continued to decline in the past quarter. It had already stagnated since Q3 2022, when it reached 50 rounds, followed by 53 in Q4 2022 and 49 in Q1 2023. With just 42 successful deals for Munich-based startups, the number plummeted again. The number of successful investments is thus at its lowest level since Q2 2019.<\/p>\n\n\n\n

Average investment amounts (excluding mega-rounds), however, are experiencing the opposite trend. For the period from April to June of this year, the average per financing was \u20ac7 million. In the three months prior, this figure was only \u20ac5.2 million, and in the same quarter last year, it was \u20ac5.7 million.<\/p>\n\n\n\n

American investors return<\/h2>\n\n\n\n

A trend from the first quarter of this year is also declining again: From January to March, contrary to the usual trend, investments were almost exclusively funded by German and European funds. Thus, the largest share of the \u20ac704 million raised, \u20ac472 million (67 percent), came from other European countries. German investors contributed a total of \u20ac182 million (25.9 percent). American investors were unusually modest, contributing just \u20ac33.4 million (4.7 percent). This despite the fact that there were three mega-rounds of over \u20ac100 million: Yfood, Isar Aerospace, and Integrity Next.<\/p>\n\n\n\n

In the quarter just ended, American investors again increased their involvement in Munich. They invested around \u20ac111 million in startups from the state capital, accounting for 28.2 percent of the investment volume. However, at \u20ac193 million (49 percent), even more money came from other European countries. German investors contributed a total of \u20ac78.5 million (19.9 percent).<\/p>\n\n\n\n

Exits, bankruptcies and new funds for the Munich startup scene<\/h2>\n\n\n\n

There has also been a lot of activity in the area of exits over the past three months. While there were no IPOs, there were a few acquisitions: a total of nine startups changed hands. For example, the platform for IT projects Casana<\/a> acquired by the New York-based company Andela and the marketplace for sustainable sporting goods Planetics<\/a> went to Khulula.<\/p>\n\n\n\n

Insolvencies in the spring affected, among others, Sono Motors<\/a> \u2013 the startup filed an application for protective shield proceedings in May \u2013 and Banovo<\/a>According to the public portal for insolvency announcements, nine Munich-based startups, including Knister and Little Leaf, filed for insolvency between April and June.<\/p>\n\n\n\n

There were three new investment funds in the Munich startup scene in the second quarter of 2023. Afinum closed its Afinum 9 fund with 420 million euros, which HV Capital Fund IX<\/a> raised 710 million and Yttrium \u2013 formerly known as Digital+ Partners \u2013 filled its Digital Growth Fund II with 403 million euros.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

After a rather weak start to the new year, the mood for Munich's startup scene continues to deteriorate: Both the total amount of investments and the number of financing rounds continued to decline. However, there are also positive signs. We take a look at the figures in our quarterly review.<\/p>","protected":false},"author":33,"featured_media":92587,"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":"\nM\u00fcnchner Startups: Der Fr\u00fchling im R\u00fcckblick - Munich Startup<\/title>\n<meta name=\"description\" content=\"Weniger Geld, weniger Finanzierungsrunden: Wir blicken in unserem Quartalsr\u00fcckblick auf die Entwicklung der M\u00fcnchner Startup-Szene im Fr\u00fchjahr 2023.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cms.munich-startup.net\/en\/92583\/spring-in-retrospect-no-luck-for-the-munich-startup-scene\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"M\u00fcnchner Startups: Der Fr\u00fchling im R\u00fcckblick - 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