Startups in Amsterdam attract capital
The Amsterdam Metropolitan Area offers a multitude of options for startup support, including world-renowned accelerators and incubators, accessible co-working spaces and knowledge-packed startup exchanges. In addition, access to capital for startups in Amsterdam is streamlined and plentiful; the city has an array of venture capitalists, angels and investors who have a keen interest in new, up-and-coming businesses. With all this in mind, it really comes as no surprise that Amsterdam startups raised €194m of capital in 2016 – a whopping 76% of all startup funding in the Netherlands.
The following Amsterdam-based startups received the most funding in 2016:
- Lumos Global (off-grid solar power) €85m
- Bynder (marketing software) €22m
- 3D Hubs (3D-printing platform) €6.3m
- Bux (stock-exchange app) €6.1m
- InSided (internal-communications platform) €6m
- EclecticIQ (cyber security) €5.5m
- Mint Solutions (MedTech) €5m
- Roamler €4.5m (crowdsourcing app)
- Wercker (cloud-based app developer) €4.1m
- Tiqets (ticketing platform) €3.7m
Tech and ICT startups reign in Amsterdam
Funding in the ICT and tech industry was extremely high in Amsterdam in 2016, which is to be expected: the city’s digital infrastructure, tech talent and ICT ecosystem are among the best in the world. After all, eight out of the above top 10 startups are in the ICT industry. Across the Netherlands, MedTech startup investment has been unprecedentedly high; for example, Amsterdam-based Mint Solutions raised €5m in Series B funding.
Startups in the FinTech industry were also well-funded this year. Bux, a stock-exchange-tech company located in the centre of Amsterdam, received an extraordinary €6.1m. The startup hopes to expand the business from their office on Spuistraat: “Right now we want to conquer Europe step by step and focus on Germany,” said CEO Nick Bortot in an interview with StartupJuncture.
The top-funded Amsterdam startup was Lumos Global, a provider of clean, affordable solar power. The startup secured funding of €85m, which is the largest investment in the history of the off-grid solar industry – ever. Thanks to Amsterdam’s role at the forefront of the social-entrepreneurship movement, the city's startups with a focus on sustainability should continue to flourish in 2017 and beyond.