Dutch tech companies raise nearly 50% more money in 2024
In 2024, NL tech companies raised €3.1 billion in venture capital, up 47% from 2023, despite barriers to growth
Published on February 12, 2025
As editor-in-chief, Aafke oversees all content and events but loves writing herself. She makes complex topics accessible and tells the stories behind technology.
In 2024, Dutch tech companies raised €3.1 billion in venture capital, up 47% from the previous year, despite the growth obstacles faced by startups. This is according to Techleap's State of Dutch Tech report published today. Thanks to this financial boost, the Netherlands ranks fourth in Europe regarding VC funding. The deeptech sector, in particular, excels: this sector raised €1.1 billion.
The number of startups that raised funding decreased significantly (104 in 2024; 172 in 2023). Interestingly, Dutch investors contributed only 15% of the funds, a sharp decline from 61%.
This decline underscores the challenge for startups to grow into scaleups: only 21.5% succeed, compared to a European average of 23%. Factors such as talent shortages and strict regulations are significant obstacles. At the same time, foreign investment is increasing, and domestic investment lags, reinforcing calls for policy changes to boost the ecosystem.
Foreign investment dominates growth rounds
The surge in Dutch tech funding indicates a shift in investment sources. Foreign investors, particularly European ones, dominate the significant funding rounds, providing nearly 70% of growth capital in investments between €50 million and €100 million. This is a drastic change from 2023 when Dutch investors still accounted for 60% of funding. For rounds over €100 million, the domestic contribution dropped to just 5%.
The cloud sector benefited the most, with 17% of total investments, followed by the food, energy, and healthcare sectors, each receiving 12%. This international interest resulted in the emergence of two new unicorns in 2024-DataSnipper and Mews. Our country now has nine companies valued at more than $1 billion.
Deeptech success amid startup challenges
Although the Dutch startup ecosystem sends mixed signals, the deeptech sector remains remarkably resilient. Deeptech companies represent 35% of the ecosystem and secured €1.1 billion in investments. The industry has experienced impressive growth, with the scale-up ratio increasing from 16% in 2019 to 35% in 2024.
This progress contrasts sharply with the broader startup landscape, where only 123 new companies raised more than €100,000 in funding in 2024-the lowest number since 2020. The geographic concentration of the tech sector remains strong, with 80% of tech jobs located in North Holland, South Holland, or Utrecht.
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Drastically fewer startups
In 2024, only 123 new startups raised €100,000 in funding, dropping back to 2020 levels. This decline is worrisome as startups are the foundation of a thriving ecosystem and essential for long-term growth and innovation. Closely monitoring the number of startups is crucial. Given these trends, the decline in 2024 may significantly limit scaling opportunities for the coming years.
Regional disparities in the Dutch tech landscape
The Dutch tech landscape has strong regional contrasts. North Holland dominates with over 130,000 tech jobs and receives 60% of all venture capital investment (€1,876.4 million). This geographic discrepancy extends to the distribution of talent, with large tech hubs relying heavily on expats. At the same time, scaling remains a challenge: only 21.5% of Dutch startups successfully grow through, compared to 54% in the US.
North Brabant plays an essential role in the Dutch tech ecosystem, with 1,364 companies accounting for 12.86% of the total. The province has a strong deep-tech sector, with 237 companies operating in these advanced technologies. Brainport is home to pioneering companies such as Axelera AI at the High Tech Campus, LeydenJar at Strijp-T, and DENS at the Automotive Campus. These companies contribute to the region's international reputation as a center for advanced technology and sustainable innovation.
In 2024, North Brabant received €420.95 million in venture capital investment (13.6% of the total), of which a significant portion-€346.27 million was invested in deep tech. This underscores the region's position as an innovation hub with a strong focus on technological progress.
With 29,327 employees in the tech sector (9.82% of the total), North Brabant contributes substantially to national employment in technology, with the ecosystem benefiting from the presence of leading research institutions and high-tech companies.
