Dutch startups raised $3.5 billion in 2024. Listed below are the 10 largest funding rounds

It was a great year for the Dutch startup ecosystem.

Venture capitalists have invested $3.5 billion so far invest in early-stage companies based in the Netherlands, according to dealroom data. This makes 2024 the second best funding year for the Dutch technology sector ever and will only be surpassed in 2021.

Dutch startups have raised almost 50% more ($1.1 billion) in cash this year than in 2023 – and there are still two weeks to go. This is a notable increase, especially given the rather subdued financing environment in wider Europe, which is heading for its worst year since 2020.

The Netherlands will be the fourth best funded ecosystem in Europe in 2024. They are two places higher than last year and surpass Sweden and Switzerland. Unsurprisingly, the UK will take the top spot with $17 billion raised so far. Germany is in second place with $7.9 billion, while France is a close third with $7.7 billion.

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With that in mind, here are the 10 biggest funding rounds that made 2024 such a lucrative year for the Dutch startup ecosystem. (Disclaimer: For this list we count all young companies headquartered in the Netherlands, which were not necessarily founded there).

1. I won't* – $700 million

The was a direct hit. The startup that builds full stack AI Infrastructure for technology companies, secured the equity in December in a deal led by Nvidia, Accel and other blue-chip investors.

*(Although Dealroom Nebius counts as a startup, it is a publicly traded company, so we're not so sure.)

2. picnic – $388 million

The Dutch online supermarket unicorn the financing bagged in January to further its international expansion as it aims to become a profitable grocery delivery service (which has proven damn difficult for most).

3. Near field instruments – $147 million

The Rotterdam-based company makes advanced tools for inspecting computer chips during manufacturing, contributing to the wealth of the Netherlands Semiconductor success stories.

4. stables – $110 million

Cha ching! We have a new unicorn in the house. More precisely, in our house, as Mews is based at TNW City in Amsterdam. The startup that a cloud-based property management system (PMS) for the hospitality industry $110 million in March with a valuation of over $1.2 billion. Then, in September, things plummeted another $100 million.

That's great, Mews.

5. DataSnipper – $100 million

Cha-ching, again! DataSnipper, a maker of AI-powered accounting tools, raised $100 million in February at a valuation of $1 billion, making it the Netherlands' second newly minted unicorn of 2024.

6. Citryll — €89 million

The biotech company develops therapies for inflammatory diseases. The company will use the Series B funding to advance its lead product, CIT-013, into Phase 2a clinical trials.

7. cradle – $73 million

Founded in 2022, Cradle uses generative AI to design and optimize proteins with the goal of reducing the time and cost of protein engineering. The Amsterdam startup wants to put its software “into the hands of a million scientists”.

8. Axelera AI — $68 million

The Eindhoven-based startup develops chips called AI processing units (AIPUs) that enable computer vision and generative AI in devices such as robots and drones. The funding round was led by Samsung's venture arm. For a chip startup, that's not a bad investor.

9. Time – $58 million

Payt Software's AI-powered platform optimizes the debt collection process through automated invoicing. Not exactly “sexy” technology, but the startup’s product is used by over 13,000 companies in the Netherlands alone, so it must be doing something right.

10. Vico Therapeutics – $56 million

Vico was founded in 2019 develops therapies for serious neurological diseases. The company is the third healthtech startup on this list and for good reason – the Netherlands has established itself as one of the world's leading centers for biotechnology and life sciences.

Overall, the Dutch startup ecosystem has demonstrated its resilience and strength in 2024, achieving remarkable growth despite major challenges in the European financing environment. Salways The services come from the areas of biotechnology, AI and semiconductors. Looking forward, these funding successes position the country's startups to achieve an even greater global impact by 2025.