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Country comparison

Germany vs Italy: startup funding compared

Since 2 June 2025, startups in Germany raised $11.9B across 332 rounds, 6.7 times Italy's $1.8B.

GermanyvsItaly
$11.9BCapital raised$1.8B
332Rounds117
$6.7MMedian round$3.8M
1.7%Share of all capital0.3%
70%Early-stage rounds57%

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: $11.9BItaly, end of Jun 25: $56.9MItaly, end of Jul: $171MItaly, end of Aug: $177MItaly, end of Sept: $245MItaly, end of Oct: $720MItaly, end of Nov: $897MItaly, end of Dec: $1BItaly, end of Jan 26: $1.1BItaly, end of Feb: $1.1BItaly, end of Mar: $1.1BItaly, end of Apr: $1.2BItaly, end of May: $1.4BItaly, end of Jun: $1.4BItaly, end of Jul: $1.4BItaly, end of Aug: $1.4BItaly, end of Sept: $1.8BItaly, end of Oct: $1.8BItaly, end of Nov: $1.8B Jun 25SeptDecMarJunSept
GermanyItaly
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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

Italy

  • AI30%$544M
  • Enterprise software20%$358M
  • Health19%$335M
  • Other10%$178M
  • Robotics & Hardware6%$116M
  • Cybersecurity6%$101M

Biggest rounds

Germany

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

Italy

  1. Exein $270M 1
  2. Bending Spoons $270M 2
  3. AAVantgarde Bio $141M 3

Stage mix share of rounds

GermanyItaly
51%Pre-Seed and Seed44%
20%Series A13%
7%Series B3%
3%Series C and later3%
20%Other or undisclosed36%

Most active investors rounds joined

InvestorGermanyItaly
High-Tech Gründerfonds38·
CDP Venture Capital·29
Bayern Kapital20·
HV Capital14·
Cherry Ventures13·
IBB Ventures12·
NRW.BANK11·
Vento·11
General Catalyst10·
UVC Partners10·
Antler9·
360 Capital·8

Startup hubs rounds and capital by city

Germany

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

Italy

  • Milan53$976M
  • Rome9$381M
  • Genoa2$85.9M
  • Turin10$49.5M
  • Pianezza1$23.5M
  • Cantù1$17.2M

Latest rounds

Questions

Which country raised more startup funding, Germany or Italy?

Germany. Since 2 June 2025, startups in Germany raised $11.9B across 332 rounds, against $1.8B across 117 rounds in Italy, 6.7 times more. That is 1.7% and 0.3% of all the capital FundraiseBase tracked worldwide over the period.

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

332 rounds in Germany and 117 rounds in Italy since 2 June 2025, about 18 and 7 a month.

Are startup rounds bigger in Germany or Italy?

The median round is $6.7M in Germany and $3.8M in Italy, and the average round $35.9M and $15.3M. 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 Italy?

The biggest startup rounds in Italy since 2 June 2025 are Exein ($270M, 15 Sept 2026), Bending Spoons ($270M, Growth, 30 Oct 2025) and AAVantgarde Bio ($141M, Series B, 3 Nov 2025).

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

In Germany, AI ($5B, 42% of the capital), Robotics & Hardware ($3.4B, 28%) and Climate & Energy ($1.4B, 11%) lead. In Italy, AI ($544M, 30% of the capital), Enterprise software ($358M, 20%) and Health ($335M, 19%) lead.

Is Germany or Italy better for early-stage startups?

Early-stage rounds (Pre-Seed, Seed and Series A) make up 70% of rounds in Germany and 57% in Italy. Germany recorded 169 Pre-Seed or Seed rounds and Italy 52 Pre-Seed or Seed rounds, with a median of $3.8M and $2.3M.

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

Startups in Germany raised $5.6B in 32 Series B or later rounds, 47% of the country's capital. In Italy, $461M in 8 rounds, 26% 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 Italy?

CDP Venture Capital (29 rounds, 10 led), Vento (11 rounds) and United Ventures (8 rounds, 6 led) are the most active investors in Italy.

Which investors back startups in both Germany and Italy?

32 investors joined rounds in both countries. The most active: Redstone (7 in Germany, 1 in Italy), Italian Founders Fund (1 in Germany, 6 in Italy), Lakestar (5 in Germany, 1 in Italy), Balderton Capital (5 in Germany, 1 in Italy) and Creandum (5 in Germany, 1 in Italy).

Which cities lead startup funding in Germany and Italy?

Munich leads Germany with $5.5B across 81 rounds, ahead of Berlin ($2.8B). Milan leads Italy with $976M across 53 rounds, ahead of Rome ($381M).

Which month brought the most startup funding?

In Germany, July 2026 ($2.5B). In Italy, October 2025 ($474M).

How much did startups in Germany and Italy 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 Italy $391M across 12 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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