Startups & venture capital in Amsterdam
September 2020 Snapshot of the Amsterdam tech ecosystem
2,700+ 77K 130+ startups & scaleups founded Tech startup jobs (1) Active VCs, accelerators, in Amsterdam after 2000 workspaces
€2.8B €73B Venture capital invested Combined value from since 2015 startups founded after 2000
Source: Dealroom.co 1. Includes 34K jobs at foreign companies like Uber, Netflix and Amazon.
Page / 2 September 2020 | startupmap.iamsterdam.com Summary conclusions.
Amsterdam is Europe’s #3 tech ecosystem High density of startups, but low Venture capital in 2020 not significantly by value investment and lack of future unicorns impacted by pandemic so far: Amsterdam has a new unicorn! Amsterdam’s tech ecosystem has ballooned Strong pipeline, with a large pool of 2.7K Venture Capital investment is in line with to €73 billion in combined value, thanks startups at different stages. previous years, so far. primarily to Adyen and Takeaway.com. Amsterdam has a high startup density. 2019 was a record year for Amsterdam. This Amsterdam now ranks as #3 tech ecosystem Venture capital investment is relatively low was mostly driven by Picnic’s €250M mega in Europe by total value of tech companies however, especially in later stage rounds. round which happened late in the year. founded since 2000. However, this value is This results a lower pipeline of potential more concentrated than it is in cities like future unicorns. 2020 saw the rise of a new unicorn in Berlin or Paris. Amsterdam: Mollie, after a €90M Series B Amsterdam has strong support from local round. investors. On the other hand, other major tech hubs like London, Tel-Aviv, and Health and EdTech are on the rise in 2020. Stockholm attract more capital from US and Asian investors. It would be good to better understand the reason for that.
Page / 3 September 2020 | startupmap.iamsterdam.com Amsterdam’s tech ecosystem has ballooned to €73 billion in combined value, thanks primarily to Takeaway.com and Adyen.
Combined value(1) of the ecosystem
€73 billion
€10 billion
Picnic
Rest of ecosystem Rest of ecosystem
2015 2020
Source: Dealroom.co 1. Sum of the valuations of all startups in the ecosystem founded after 2000. Using estimated valuations based on most recent VC rounds, public markets and publicly disclosed valuations as of September 1st, 2020.
Page / 4 September 2020 | startupmap.iamsterdam.com Amsterdam now ranks #3 tech ecosystem in Europe by total value of tech companies founded since 2000.
Combined value(1) of ecosystem for Europe’s most valuable tech companies companies founded after 2000 founded after 2000
London €157B Name HQ Founded Valuation
Berlin €79B #1 Amsterdam 2006 €42.5B
Amsterdam €73B #2 Stockholm 2006 €38.7B
Stockholm €64B #3 Berlin 2010 €19.5B
Paris €54B #4 Berlin 2008 €15.3B
Munich €18B #5 Amsterdam 2000 €13.8B
Source: Dealroom.co 1. Sum of the valuations of all startups in the ecosystem founded after 2000. Using estimated valuations based on most recent VC rounds, public markets and publicly disclosed valuations as of September 1st, 2020.
Page / 5 September 2020 | startupmap.iamsterdam.com A large pool of 2.7K startups, scaleups and grownups.
Tech incumbents Founded before 2000 Combined value € 133 billion
$1B+ tech companies Five companies founded after 2000 Combined value €64 billion
Series A+ scaleups 228 scaleups Combined value €8.6 billion 55 employees on average
Pre-funded & Seed startups 2.5K startups 20 employees on average
Source: Dealroom.co
Page / 6 September 2020 | startupmap.iamsterdam.com Amsterdam has a high startup density. However, venture capital investment is low.
Metro area Number of startups, Number of startups VC investment population scaleups & grownups per 1,000 inhabitants per capita in 2019
London 14.2M London 15,144 Amsterdam 1.10 Berlin €688
Paris 12.5M Paris 6,968 London 1.07 London €626
Madrid 6.7M Berlin 4,472 Helsinki 0.80 Stockholm €521
Berlin 6.1M Tel Aviv 2,905 Tel Aviv 0.76 Tel Aviv €474
Munich 6.0M Amsterdam 2,757 Berlin 0.73 Amsterdam €291
Barcelona 5.4M Barcelona 2,001 Copenhagen 0.70 Paris €232
Tel Aviv 3.8M Madrid 1,862 Paris 0.56 Munich €216
Amsterdam 2.5M Munich 1,716 Stockholm 0.51 Helsinki €214
Stockholm 2.3M Copenhagen 1,403 Barcelona 0.37 Copenhagen €195
Copenhagen 2.1M Stockholm 1,180 Munich 0.29 Barcelona €111
Helsinki 1.4M Helsinki 1,126 Madrid 0.28 Madrid €88
Source: Dealroom.co
Page / 7 September 2020 | startupmap.iamsterdam.com By number of potential future unicorns(1), Amsterdam risks falling behind.
Number of potential future unicorns Number of series B+ rounds since 2018
London 69 London 304
Paris 35 Paris 129
Berlin 31 Berlin 117
Tel Aviv 18 Tel Aviv 96
Munich 10 Munich 54
Helsinki 7 Amsterdam 39
Amsterdam 6 Helsinki 38
Stockholm 6 Stockholm 37
Barcelona 6 Barcelona 25
Copenhagen 5 Madrid 19
Madrid 5 Copenhagen 16
Source: Dealroom.co 1.Companies valued over €200 million but less than €800 million.
Page / 8 September 2020 | startupmap.iamsterdam.com Amsterdam counts at least 50 venture capital funds that were actively investing in the last twelve months.
Seed stage Series A Series B+
Investments Investments Investments Selected Amsterdam Selected Amsterdam Selected Amsterdam Investor in Investor in Investor in investments investments investments last 12 months last 12 months last 12 months
Bloomon, Calypso Biotech, 11 OneFit, Media Distillery, Peecho, 12 Takeaway.com, TerraPay , Creative StuDocu, Dyme EclecticIQ, Aidence, Aito 7 Group
12 Kiadis Pharma Tiqets, WeTransfer 10 WordProof, Bits of Stock, Dyme 5
6 Bux, Digital Insurance Group, Hiber, NorthSea Therapeutics 9 Orderchamp, Airsquire Fixico, Pritle, Ikbenfrits 4
6 Aito Roamler, 3D Hubs, Virtuagym 5 VanMoof, Ace&Tate, NADUVI, Tiqets 4
4 Northsea Therapeutics, Scenic Enko Chem, Ascus Biosciences, 4 QuiX, Mayth, Rocsys, Sense Glove Biotech 3 Farmobile
WeTransfer, Voincebooking,com, 4 Energyworx, FlexiDAO, GreenFlux Picnic, Ohpen 3 Caya 1
Source: Dealroom.co
Page / 9 September 2020 | startupmap.iamsterdam.com Amsterdam is still very dependent on local investors. Other major tech hubs like London, Tel-Aviv, and Stockholm attract more capital from US and Asian investors.
Funding mix by source of capital (2018-2020) ▉ North America ▉ Asia ▉ Rest of World ▉ Europe ▉ Domestic
Paris 15% 4% 1% 21% 57%
Amsterdam still receives less 15% 4% 2% 25% 54% Amsterdam investment from outside Europe
Munich 32% 1% 30% 36%
London 31% 16% 4% 15% 33%
Tel Aviv 41% 7% 3% 17% 32%
Berlin 25% 18% 1% 35% 21%
Stockholm 35% 3% %7% 34% 21%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Source: Dealroom.co
Page / 10 September 2020 | startupmap.iamsterdam.com VC funds don’t have the monopoly on providing capital to startups. Over 30% of the funding rounds come from other types of investors.
Round participation by investor type as % of capital invested in 2019 and 2020
INKEF, Endeit, Peak, HPE Growth, Accel, Atomico, Index Venture capital 69% €599M / 118 rounds since 2019 Ventures, Balderton, Partech
ABN AMRO Ventures, ING Ventures, Hearst Ventures, Nordea, Corporate VC 19% €160M / 23 rounds since 2019 Ponooc (Pon)
Angels & family offices 10% €87M / 18 rounds since 2019 De Hoge Dennen, Pieter Schoen (via Shoe)
Gov’t grant 1% €10M / 21 rounds since 2019 European Innovation Council, RVO
Accelerators <1% €4M / 14 rounds since 2019 Antler
Crowdfunding <1% €3M / 5 rounds since 2019 Symbid, Oneplanetcrowd, Seedrs, Crowdcube
Source: Dealroom.co
Page / 11 September 2020 | startupmap.iamsterdam.com Venture Capital investment in 2020 is in line with previous years, so far.
Cumulative monthly venture capital investment amount Top funding rounds in Amsterdam in 2020
Picnic €90M €36M €250M Series B Series B Series C
€24M €23M Series B Late VC Mollie €90M Series B €20M €15M Series B -
€12.5M €10M Late VC Series A
€10.3M €8.4M Series B Series A
Source: Dealroom.co
Page / 12 September 2020 | startupmap.iamsterdam.com Fintech, HealthTech, Enterprise software, eCommerce and EdTech received the most funding so far in 2020.
VC investment Recent rounds ▉ 2020 Jan-Sep ▉ 2018-2020 Notable rounds in Jan-Sep 2020
Fintech €113M €386M
Digital health €56M €117M
Enterprise software €49M €169M
eCommerce €39M €127M
Education €19M €24M
Mobility €13M €151M
Travel €9M €112M
Food €8M €282M
Marketing €1M €53M
Energy €85M
Source: Dealroom.co
Page / 13 September 2020 | startupmap.iamsterdam.com HealthTech and EdTech are on the rise in 2020.
Funding in Health Tech since 2018 Funding in Education Tech since 2018
€56.2M €19.1M
€36.0M
€24.5M
€2.9M €1.5M
2018 2019 2020 YTD 2018 2019 2020 YTD
Developing the A cloud-based The free secure Offers data-driven online platform to Soft skill trainings Give students access Toy train that teaches treatment of clinical data messaging app for personalised easily create, deploy that enable to relevant online children coding inflammatory and platform that medical team nutrition programs and distribute online professionals to be information at their through play liver diseases simplifies the clinical players courses more effective in their own reading level trial process work
€36M Series B €10M Series A €9.7M Series A €780K Seed €10M Series C €5M Early VC €4M Series A €120K Seed Jan 2020 Aug 2020 Jul 2020 Jul 2020 Jul 2020 Jun 2020 Jul 2020 Mar 2020
Source: Dealroom.co
Page / 14 September 2020 | startupmap.iamsterdam.com Methodology & definitions.
Startups, scaleups, Venture capital Valuation Data source grownups and tech investment The combined valuation of the tech Dealroom’s proprietary database and Companies designed to grow fast. Investment numbers refer to rounds ecosystem is based on their market cap software aggregate data from multiple Generally, such companies are VC- such as seed, series A, B, C, …. late or latest transaction value. Market sources: harvesting public information, investable businesses. Sometimes they stage, and growth equity rounds share price taken on September 1st, user-generated data verified by can become very big (e.g. $1B+ 2020. Dealroom, data engineering. All data is valuation). Venture capital investment figures verified and curated manually. exclude debt or other non-equity Transaction value is realised from exit When startups are successful, they funding, lending capital, grants and or implied unrealised valuation from Most underlying data from the report is develop into scaleups (>50 people), ICOs the latest VC round, which is either available online via grownups (>500 people) and result in announced or estimated by Dealroom https://startupmap.iamsterdam.com/ big companies, like Adyen or Takeaway. Buyouts, M&A, secondary rounds, and based on benchmarks. IPOs are treated as exits: excluded from Amsterdam region includes Amsterdam In this report, the term “tech funding data Zuid-oost, Schiphol, Amstelveen, ecosystem” refers to startups, scaleups Haarlem, Hoofddorp grownups from different Investment rounds are sourced from vintages/cohorts. Only companies public disclosures including press For more info please visit dealroom.co founded after 2000 are included in this releases, news, filings and verified user- or contact [email protected] report (which excludes Booking.com). submitted information
Page / 15 September 2020 | startupmap.iamsterdam.com Also check out Amsterdam tech jobs report from June 2020.
Dealroom.co, in partnership with StartupAmsterdam, has recently conducted a study on the tech employment trends in the Amsterdam region. How important are startups to jobs in Amsterdam? And how are these jobs impacted by Covid-19?
Read the full report »
Page / 16 September 2020 | startupmap.iamsterdam.com An expanding combined network: each new member adds more value.
Dealroom provides several governments with their own startup database: fully managed white-labelled solutions. These ecosystem platforms jointly form an interconnected network, strengthening each other in terms of data and knowledge.
This API is two-way, so that these platforms also submit data back into the Dealroom platform. This model, pioneered by Dealroom, provides you with unique access to data from local startup ecosystems, such as emerging under-the-radar startups, newly formed startups and more.
Page / 17 July 2020 | startupmap.iamsterdam.com September 2020