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Country comparison

Germany vs Canada: startup funding compared

Since 2 June 2025, startups in Germany raised $11.9B across 332 rounds, 2.5 times Canada's $4.8B.

GermanyvsCanada
$11.9BCapital raised$4.8B
332Rounds114
$6.7MMedian round$6M
1.7%Share of all capital0.7%
70%Early-stage rounds55%

Capital raised running total by month

$11.9B$6B Germany, end of Jun 25: $1.4BGermany, end of Jul: $2BGermany, end of Aug: $2.2BGermany, end of Sept: $2.4BGermany, end of Oct: $3.1BGermany, end of Nov: $3.5BGermany, end of Dec: $3.9BGermany, end of Jan 26: $4.6BGermany, end of Feb: $4.9BGermany, end of Mar: $5.3BGermany, end of Apr: $5.5BGermany, end of May: $5.6BGermany, end of Jun: $7.9BGermany, end of Jul: $10.4BGermany, end of Aug: $10.6BGermany, end of Sept: $11.4BGermany, end of Oct: $11.6BGermany, end of Nov: $11.9BCanada, end of Jun 25: $206MCanada, end of Jul: $392MCanada, end of Aug: $1.1BCanada, end of Sept: $1.1BCanada, end of Oct: $1.2BCanada, end of Nov: $2BCanada, end of Dec: $2BCanada, end of Jan 26: $3.2BCanada, end of Feb: $3.7BCanada, end of Mar: $3.9BCanada, end of Apr: $3.9BCanada, end of May: $4BCanada, end of Jun: $4.5BCanada, end of Jul: $4.5BCanada, end of Aug: $4.7BCanada, end of Sept: $4.7BCanada, end of Oct: $4.7BCanada, end of Nov: $4.8B Jun 25SeptDecMarJunSept
GermanyCanada
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Where the money goes share of capital by sector

Germany

  • AI42%$5B
  • Robotics & Hardware28%$3.4B
  • Climate & Energy11%$1.4B
  • Health5%$613M
  • Fintech5%$592M
  • Enterprise software4%$525M

Canada

  • AI43%$2.1B
  • Robotics & Hardware25%$1.2B
  • Other13%$611M
  • Enterprise software8%$372M
  • Fintech4%$190M
  • Health4%$181M

Biggest rounds

Germany

  1. Helsing $1.8B 1
  2. Neura Robotics $1.4B 2
  3. Helsing $694M 3

Canada

  1. Waabi $750M 1
  2. Clio $500M 2
  3. Cohere $500M 3

Stage mix share of rounds

GermanyCanada
51%Pre-Seed and Seed39%
20%Series A16%
7%Series B10%
3%Series C and later8%
20%Other or undisclosed27%

Most active investors rounds joined

InvestorGermanyCanada
High-Tech Gründerfonds38·
Bayern Kapital20·
HV Capital14·
Cherry Ventures13·
General Catalyst102
IBB Ventures12·
NRW.BANK11·
Y Combinator83
UVC Partners10·
Antler9·
D11Z.Ventures8·
Redstone7·

Startup hubs rounds and capital by city

Germany

  • Munich81$5.5B
  • Berlin117$2.8B
  • Freiburg3$307M
  • Stuttgart6$291M
  • Hamburg15$252M
  • Eresing1$175M

Canada

  • Toronto37$2.3B
  • Vancouver15$903M
  • Montreal25$535M
  • Montréal1$302M
  • Calgary9$155M
  • Richmond3$122M

Latest rounds

Questions

Which country raised more startup funding, Germany or Canada?

Germany. Since 2 June 2025, startups in Germany raised $11.9B across 332 rounds, against $4.8B across 114 rounds in Canada, 2.5 times more. That is 1.7% and 0.7% of all the capital FundraiseBase tracked worldwide over the period.

How many startup funding rounds were announced in Germany and Canada?

332 rounds in Germany and 114 rounds in Canada since 2 June 2025, about 18 and 6 a month.

Are startup rounds bigger in Germany or Canada?

The median round is $6.7M in Germany and $6M in Canada, and the average round $35.9M and $42.2M. The median shows the typical round; the average is pulled up by a few very large ones.

What is the biggest startup round in Germany?

The biggest startup rounds in Germany since 2 June 2025 are Helsing ($1.8B, Series E, 13 Jul 2026), Neura Robotics ($1.4B, 10 Jun 2026) and Helsing ($694M, Series D, 16 Jun 2025).

What is the biggest startup round in Canada?

The biggest startup rounds in Canada since 2 June 2025 are Waabi ($750M, 30 Jan 2026), Clio ($500M, Series G, 10 Nov 2025) and Cohere ($500M, 14 Aug 2025).

Which sectors attract the most startup funding in Germany and Canada?

In Germany, AI ($5B, 42% of the capital), Robotics & Hardware ($3.4B, 28%) and Climate & Energy ($1.4B, 11%) lead. In Canada, AI ($2.1B, 43% of the capital), Robotics & Hardware ($1.2B, 25%) and Enterprise software ($372M, 8%) lead.

Is Germany or Canada better for early-stage startups?

Early-stage rounds (Pre-Seed, Seed and Series A) make up 70% of rounds in Germany and 55% in Canada. Germany recorded 169 Pre-Seed or Seed rounds and Canada 45 Pre-Seed or Seed rounds, with a median of $3.8M and $3.3M.

How much growth funding (Series B and later) goes to Germany and Canada?

Startups in Germany raised $5.6B in 32 Series B or later rounds, 47% of the country's capital. In Canada, $1.9B in 20 rounds, 39% of the capital.

Who are the most active startup investors in Germany?

High-Tech Gründerfonds (38 rounds, 16 led), Bayern Kapital (20 rounds, 2 led) and HV Capital (14 rounds, 6 led) are the most active investors in Germany.

Who are the most active startup investors in Canada?

BDC Capital (6 rounds, 2 led), Inovia Capital (6 rounds, 1 led) and Garage Capital (6 rounds, 1 led) are the most active investors in Canada.

Which investors back startups in both Germany and Canada?

23 investors joined rounds in both countries. The most active: General Catalyst (10 in Germany, 2 in Canada), Y Combinator (8 in Germany, 3 in Canada), Accel (5 in Germany, 1 in Canada), Lightspeed Venture Partners (5 in Germany, 1 in Canada) and Lakestar (5 in Germany, 1 in Canada).

Which cities lead startup funding in Germany and Canada?

Munich leads Germany with $5.5B across 81 rounds, ahead of Berlin ($2.8B). Toronto leads Canada with $2.3B across 37 rounds, ahead of Vancouver ($903M).

Which month brought the most startup funding?

In Germany, July 2026 ($2.5B). In Canada, January 2026 ($1.2B).

How much did startups in Germany and Canada raise in the last 90 days?

In the 90 days to 12 Nov 2026, startups in Germany raised $1.4B across 43 rounds and in Canada $274M across 9 rounds.

Where does this data come from?

FundraiseBase lists startup funding rounds from public announcements: press releases, company posts and news coverage, checked and updated every day. Amounts are in US dollars. Some rounds are never announced, so the figures show what was made public, not every round. Corrections are welcome.

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