Germany is home to a thriving startup scene, with an impressive number of unicorns contributing to the growth of the country’s economy. Out of the 158 unicorns in Europe, 34 call Germany their home. Berlin, in particular, is a hub of startup activity, with 22 unicorns located in the capital of Germany. 12 of those unicorns raised more than 195 million USD, which is in comparison of the 20 best unicorns in Germany 90% of all the blockchain venture funding. According to the German Blockchain Report 2022, unicorns in Germany raised a total of 8 billion US-Dollar in venture funding, which makes up 12.4% of European venture funding and 2.4% of global venture funding.
Despite a decrease in QonQ funding, venture funding deal count has increased in Germany!
The blockchain industry in Germany is also growing at a fast pace, with the country now accounting for 22.8% of the Ethereum network validators. But when it comes to blockchain funding, the numbers decreased from Q1 to Q3 in 2022, not only in Germany but globally. While global funding reached 10 billion US-Dollar in Q1, it more than halved in Q3 with 4.6 billion US-Dollar. On a global basis, the blockchain funding also decreased compared to 2022. However, this was not the case for funding in Europe and in Germany. With 3.5 billion US-Dollar, blockchain funding in Europe remained on the same level as the year before. Whereas in Germany, cryptomonday.de found that the funding surged and reached 217.6 million US-Dollar. Blockchain funding currently represents 5.44% of total venture funding.
The same applies for the deal count. While 1.380 blockchain businesses made deals, the global deal count remains slightly behind the one from 2021: 1.386. US companies are leading with almost half of the deals. In Germany, not only the funding increased by 55% in the fields of Blockchain Infrastructure and Development, but also the deal count increased by 39%. The categories DeFi and NFTs were also able to increase the percentage of venture funding in Germany by 27% and 6%.
From the 20 German blockchain funding deals in 2022, the top 5 companies are based in Berlin. Here are the top 5 deals from 2022:
| Company | Round Amount | % of Funding |
| Worldcoin | $100,000,000 | 46% |
| Composable Finance | $32,000,000 | 15% |
| Soba | $13,600,000 | 6% |
| Ultimate (by Unstoppable Finance) | $12,875,315 | 6% |
| Chainflip | $10,000,000 | 5% |
German blockchain landscape is taking off
Finding freely available data on blockchain funding in Germany is a challenge, but the German Blockchain Report 2022 delves deeper into 20 unicorns in the country. These 20 blockchain companies raised a total of 217 million USD in funding rounds between Q1 and Q3 of 2022, with most of the projects opting for a seed round of funding.
Germany boasts a significant number of successful unicorns and a rapidly growing blockchain industry. It managed to increase not only the venture funding but also the deal count in 2022, while the numbers globally decreased.Jonathan Merry, CEO of CryptoMonday.com
The increasing venture funding and the rise of blockchain companies could be positive indicators for the future of the German economy in that field. It remains exciting to see whether other categories besides Infrastructure and Development will also see a rise in funding.
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