Tracxn Technologies released its Netherlands Tech – 9M 2025 Report, providing an overview of investment trends and startup activity across the Dutch technology landscape for the first three quarters of 2025.
Contentlockr
In the first nine months of 2025, tech startups in the Netherlands raised $7.8B (approximately €6.7B), which represents a 26 per cent decrease from the $10.6B (approximately €9.1B) raised during the same period in 2024.
Additionally, the total number of funding rounds decreased by 19 per cent year-on-year, dropping to 122 from 152 last year.
Tracxn Technologies, a data analytics platform for private market research, published its “Netherlands Tech – 9M 2025” report, which highlights the investment activity in the Dutch technology sector for the first nine months of 2025. The firm tracks over 4 million companies across more than 2,900 feeds from various industries, subsectors, regions, and networks worldwide.
Here are the key takeaways:
Ranked 13th globally in tech funding
The Netherlands ranked 13th globally in tech funding during this period, with the ecosystem continuing to attract sustained investor interest across key sectors despite a competitive global landscape led by the United States, the United Kingdom, and India.
One new unicorn in 2025
Only one new unicorn emerged in 2025 compared to two last year, bringing the total unicorn count to 51. Meanwhile, 55 startups joined the Soonicorn Club, marking a 16 per cent drop from 2024.
Secured $1.4B funding
The Dutch technology sector raised $1.4B in funding in the first nine months of 2025. This is a 26 per cent decrease from the $1.9B raised during the same period in 2024, and there were 19 per cent fewer funding rounds (122 this year compared to 152 last year).
This shows a more cautious investment climate, especially for early-stage and Series A+ rounds, but there are still some positive signs, adds the report.
Regionally, Amsterdam led with $796M in funding, followed by Leiden, Eindhoven, Delft, and Utrecht, maintaining concentration in the country’s primary innovation hubs.
62 Series A+ rounds
There were 62 Series A+ funding rounds this year, down 22 per cent from last year, and 48 companies received funding for the first time.
The mid-to-late stage financing saw committed capital flowing into growth areas such as fintech, rare diseases, and application development tools.
The top areas for funding included Neobanks at $237M, drugs for rare diseases at $214M, website builders at $100M, and hospitality ERP at $75M.
Notable large funding rounds
In terms of transactions, notable large rounds included
- Azafaros ($146M Series B)
- Finom ($237M combined Series C rounds)
- Framer ($100M Series D)
- Mews ($75M Series D)
According to the report, the exit activity remained substantial with 896 acquisitions and 77 IPOs historically, including significant 2025 exits such as the $4.3B acquisition of Just Eat Takeaway by Prosus.
Investor participation remained active with institutions like QDNL Participations, Invest-NL, and Fortino Capital showing leadership at seed and early stages, while Tiger Global Management and Headline were prominent in late-stage deals.
M&A and IPO activity softened
The number of acquisitions fell 22 per cent to 62, while IPOs dropped sharply from 10 in 2024 to just one so far in 2025.
However, the average IPO market cap surged from $141M in 2024 to $3.6B, signalling continued investor confidence in mature Dutch tech companies.
