{"id":94960,"date":"2023-10-05T09:37:00","date_gmt":"2023-10-05T07:37:00","guid":{"rendered":"https:\/\/cms.munich-startup.net\/?p=94960"},"modified":"2023-10-05T08:49:06","modified_gmt":"2023-10-05T06:49:06","slug":"what-did-the-summer-bring-to-munich-startups","status":"publish","type":"post","link":"https:\/\/cms.munich-startup.net\/en\/94960\/what-did-the-summer-bring-to-munich-startups\/","title":{"rendered":"What did the summer bring to Munich startups?"},"content":{"rendered":"<div class=\"entry-content\">\n<p><em>All following data on the Munich startup scene comes \u2013 unless otherwise stated \u2013 from our <a href=\"https:\/\/insights.munich-startup.de\/dashboard\">Data &amp; 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<p>The third quarter of 2023 brought both highs and lows for Munich&#039;s startup scene. Startups in and around the state capital raised significantly more capital, at around \u20ac583 million, than in Q2 (\u20ac394 million). The same quarter of the previous year was only slightly higher at \u20ac643 million. For all periods considered, no figures were disclosed for some financing rounds, which is why the final amounts are even higher.<\/p>\n\n\n\n<p>Large financing rounds were also completed again in the summer. Helsing received \u20ac209 million in its Series B, and Egym received \u20ac207 million in its Series F. (<a href=\"\/en\/94892\/the-most-important-investments-of-the-third-quarter-of-2023\/\">We have summarized the most important financing transactions of the past quarter here.<\/a>The second quarter, however, saw only one financing round exceeding \u20ac100 million, as did Q3 2022. The success of Helsing and Egym contributed significantly to the positive development from July to September. Excluding these mega-rounds, the third quarter of this year only raised \u20ac167 million \u2013 the lowest quarter since Q2 2020, when only \u20ac148 million was raised at the beginning of the coronavirus pandemic.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Average investment amount continues to fall<\/h2>\n\n\n\n<p>The number of completed financing rounds also continued to decline in the third quarter. Only 36 startups were able to convince investors during the summer. While this is not unusual, as Q3 usually sees less activity than other quarters due to the summer holidays, the summer of 2023 was \u2013 in terms of completed financing rounds \u2013 the weakest since 2016.<\/p>\n\n\n\n<p>Ultimately, this development also led to a collapse in the average investment amount (excluding mega-rounds). The months of July to September this year averaged only \u20ac4.4 million per financing. In the previous three months, however, the figure was \u20ac6.4 million. In the same quarter last year, the average was \u20ac5.3 million.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">US investors again more interested in Munich startups<\/h2>\n\n\n\n<p>However, the summer of 2023 also continued positive trends that emerged in the second quarter. In the spring of this year, American investors returned to Munich \u2013 albeit hesitantly \u2013 after previously withdrawing almost entirely from the state capital. While the share of American money in financing rounds for Munich startups was a meager 4.8 percent (\u20ac33.5 million) in Q1, it increased to 28.2 percent (\u20ac111 million) in Q2. In Q3, the share grew further, reaching 37.7 percent (\u20ac220 million).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Exits, bankruptcies and new funds<\/h2>\n\n\n\n<p>The third quarter also saw a number of exits. For example, the AI assistant Askbrian was acquired by Think-Cell, Adivo became part of Zoetis, and Magazino went to Jungheinrich. A total of twelve Munich startups changed hands from July to September. There were no IPOs in this quarter.<\/p>\n\n\n\n<p>Insolvencies hit Xpay, Franka Emika, and The Football Company, among others, in the summer. In addition, the insolvency proceedings of Sono Motors continued to progress. A total of eight Munich startups had to file for insolvency in Q3, one fewer than in the spring. (<a href=\"\/en\/94945\/insolvency-q3-2023\/\">We have summarized more about the insolvencies of the quarter here<\/a>.)<\/p>\n\n\n\n<p>The Munich-based startup ecosystem saw only one new investment fund in the third quarter of 2023. Golding Capital Partners announced the first closing of its &quot;Golding Secondaries 2022&quot; fund at \u20ac170 million. The fund&#039;s target volume is \u20ac500 million, roughly twice the size of its predecessor, &quot;Golding Secondaries 2019,&quot; which closed at \u20ac280 million.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>The devil is in the details: After a weak second quarter of 2023, Munich&#039;s startup scene appears to have recovered somewhat in Q3. But if you look beyond the overall figures, many of the year&#039;s negative trends continue \u2013 as do some positive developments. We take a look at the figures in our quarterly review.<\/p>","protected":false},"author":33,"featured_media":94962,"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":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Was brachte der Sommer den M\u00fcnchner Startups? - Munich Startup<\/title>\n<meta name=\"description\" content=\"Die M\u00fcnchner Startups scheinen sich im dritten Quartal 2023 wieder etwas erholt zu haben. Wir blicken in unserem Quartalsr\u00fcckblick auf die Zahlen.\" \/>\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\/94960\/what-did-the-summer-bring-to-munich-startups\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Was brachte der Sommer den M\u00fcnchner Startups? - Munich Startup\" \/>\n<meta property=\"og:description\" content=\"Die M\u00fcnchner Startups scheinen sich im dritten Quartal 2023 wieder etwas erholt zu haben. 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