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Funded Startups in Baden-Wurttemberg

The disclosed deal sizes show a sharp outlier: ILOS Projects’ $530M round (2026-04-14) dwarfs the rest of the largest disclosed rounds, with the next-large…

The disclosed deal sizes show a sharp outlier: ILOS Projects’ $530M round (2026-04-14) dwarfs the rest of the largest disclosed rounds, with the next-largest disclosed amount at Black Forest Labs’ $300M (2025-12-01). At the other edge, the smallest disclosed amount is $310K for Picea Biosolutions (2026-04-01), highlighting a wide spread across disclosed rounds.

Deal timing and geography also cluster. Rounds span 2024-10-10 to 2026-08-13, with 2026 accounting for 19 of the 50 rows and 2025 for 24. In parallel, certain cities appear repeatedly in multiple sectors: Stuttgart has 14 entries (including Sereact’s $110M on 2026-04-27 and Impulse Dynamics’ $158M on 2025-12-10), while Freiburg appears 6 times (including Black Forest Labs’ $300M on 2025-12-01 and Qurie’s $3M on 2026-05-20). Stage and sector distributions lean toward “Series Unknown” (16 of 50) and categories that recur across multiple deals, including Biotechnology (9) and AI (7).

Most recent rounds

50 of 140
S
Strong by Form
Stuttgart, Germany · Manufacturing
Series A · Aug 2026
$6.6M
Q
Qurie
Freiburg Im Breisgau, Germany · Real Estate
Seed · May 2026
$2.6M
N
NVision Imaging Technologies
Ulm, Germany · Biotechnology
Series B · May 2026
$38M
C
Cirql One
Heidelberg, Germany · Software
Seed · Apr 2026
$5.8M
S
Sereact
Stuttgart, Germany · Artificial Intelligence (AI)
Series B · Apr 2026
$110M
I
ILOS Projects
Karlsruhe, Germany · Energy
Series Unknown · Apr 2026
$530M
N
Nesto
Karlsruhe, Germany · Artificial Intelligence (AI)
Series Unknown · Apr 2026
$13M
H
HyProMag
Pforzheim, Germany · Sustainability
Series Unknown · Apr 2026
$810k
P
PENEMUE
Freiburg, Germany · Apps
Seed · Apr 2026
$2.0M
P
Picea Biosolutions
Offenburg, Germany · Biotechnology
Series Unknown · Apr 2026
$310k
G
Germanium Quantum Detectors (GeQD)
Stuttgart, Germany · Hardware
Pre-Seed · Mar 2026
$1.3M
H
Heidelberg Pharma
Ladenburg, Germany · Biotechnology
Series Unknown · Mar 2026
$20M
S
SaveSpace
Gerlingen, Germany · Administrative Services
Series Unknown · Mar 2026
Undisclosed
H
happyhotel
Offenburg, Germany · Data and Analytics
Series A · Feb 2026
$7.7M
B
Blockbrain
Stuttgart, Germany · Administrative Services
Series A · Feb 2026
$21M
C
constellr
Freiburg, Germany · Agriculture and Farming
Series A · Feb 2026
$44M
S
Solarize
Stuttgart, Germany · Energy
Series Unknown · Feb 2026
Undisclosed
M
Metergrid
Stuttgart, Germany · Professional Services
Series A · Jan 2026
$12M
E
Exciva
Heidelberg, Germany · Biotechnology
Series B · Jan 2026
$59M
C
Carbonfuture
Freiburg, Germany · Natural Resources
Series A · Dec 2025
Undisclosed
E
Elephant Power
Stuttgart, Germany · Energy
Seed · Dec 2025
Undisclosed
M
Mirelo AI
Tübingen, Germany · Artificial Intelligence (AI)
Seed · Dec 2025
$41M
I
Impulse Dynamics
Stuttgart, Germany · Biotechnology
Series Unknown · Dec 2025
$158M
B
Black Forest Labs
Freiburg Im Breisgau, Germany · Artificial Intelligence (AI)
Series B · Dec 2025
$300M
P
PIONIX
Bruchsal, Germany · Energy
Seed · Nov 2025
$9.3M
U
Unikraft
Heidelberg, Germany · Hardware
Seed · Oct 2025
$6.0M
P
pyck
Schwäbisch Hall, Germany · Software
Seed · Jul 2025
$3.0M
Q
Q.ANT
Stuttgart, Germany · Hardware
Series A · Jul 2025
$72M
S
Synapticon
Schönaich, Germany · Hardware
Series Unknown · Jul 2025
Undisclosed
F
Flip
Stuttgart, Germany · Apps
Series A · May 2025
$28M
A
ATMOS Space Cargo
Baden-baden, Germany · Manufacturing
Series Unknown · Apr 2025
$1.1M
H
HepaRegeniX
Ulm, Germany · Biotechnology
Series Unknown · Apr 2025
$24M
P
PROSERVATION
Stuttgart, Germany · Administrative Services
Seed · Apr 2025
$1.1M
B
BioCopy
Freiburg, Germany · Biotechnology
Series Unknown · Mar 2025
$8.7M
I
Idana
Freiburg Im Breisgau, Germany · Health Care
Series A · Mar 2025
Undisclosed
N
NODE Robotics
Stuttgart, Germany · Hardware
Series Unknown · Feb 2025
Undisclosed
C
CoreMedic GmbH
Radolfzell Am Bodensee, Germany · Health Care
Series B · Feb 2025
Undisclosed
F
Five Percent
Stuttgart, Germany · Information Technology
Pre-Seed · Feb 2025
Undisclosed
C
comstruct
Bammental, Germany · Information Technology
Seed · Feb 2025
$13M
E
Eversion Technologies
Konstanz, Germany · Apps
Seed · Jan 2025
Undisclosed
M
Matchory.com
Ulm, Germany · Data and Analytics
Seed · Jan 2025
$6.3M
H
Hivr
Freiburg, Germany · Artificial Intelligence (AI)
Series Unknown · Jan 2025
Undisclosed
N
NEURA Robotics
Metzingen, Germany · Artificial Intelligence (AI)
Series B · Jan 2025
$124M
V
vialytics
Stuttgart, Germany · Data and Analytics
Series Unknown · Dec 2024
$8.3M
C
CarboCode
Konstanz, Germany · Biotechnology
Series C · Dec 2024
$16M
V
Visual Abstract
Mannheim, Germany · Content and Publishing
Seed · Nov 2024
$1.5M
H
HyperHeat
Offenburg, Germany · Energy
Pre-Seed · Nov 2024
$3.2M
P
paretos
Heidelberg, Germany · Artificial Intelligence (AI)
Series A · Oct 2024
$9.2M
R
Recyda GmbH
Freiburg, Germany · Administrative Services
Series A · Oct 2024
$6.8M
I
immatics biotechnologies
Tübingen, Germany · Biotechnology
Series Unknown · Oct 2024
$150M

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Frequently asked

Which disclosed round is an outlier, and what sits just below it in disclosed terms?

ILOS Projects’ disclosed $530M (2026-04-14) is the largest disclosed amount, and it is followed by Black Forest Labs’ $300M (2025-12-01). The gap between these two entries is larger than the spread among most other top disclosed rounds (e.g., Sereact at $110M on 2026-04-27 vs Exciva at $59M on 2026-01-20).

Where does the list concentrate geographically, and are there repeated hubs by city name?

Stuttgart dominates with 14 entries, including Sereact (Stuttgart, $110M on 2026-04-27), Q.ANT (Stuttgart, $72M on 2025-07-17), and Impulse Dynamics (Stuttgart, $158M on 2025-12-10). Freiburg appears 6 times (e.g., Qurie $3M on 2026-05-20; Black Forest Labs $300M on 2025-12-01), while Heidelberg shows 4 entries (including Cirql One $6M on 2026-04-30 and Exciva $59M on 2026-01-20).

How does the stage mix look, considering that many rounds are not publicly disclosed by series?

“Series Unknown” appears 16 times out of 50 rows, exceeding each named label. Among labeled stages, Seed (13), Series A (11), and Series B (6) make up most entries, with Pre-Seed (3) and a single Series C (1) rounding out the list.

Are the largest disclosed rounds tied to specific sectors?

The top disclosed amounts span multiple sectors rather than one category: ILOS Projects is in Energy ($530M on 2026-04-14), Black Forest Labs is AI ($300M on 2025-12-01), and immatics biotechnologies is Biotechnology ($150M on 2024-10-10). Hardware also reaches the top tier via NEURA Robotics’ AI/robotics-related label ($124M on 2025-01-16), while Exciva sits in Biotechnology ($59M on 2026-01-20).

What do the disclosed-size thresholds imply about concentration among disclosed rounds?

Disclosed amounts cluster heavily in lower tiers: 6 disclosed rounds are at or above $100M, while 8 are at or above $50M and 19 are at or above $10M. Only 0 disclosed rounds reach $1.0B or more, and the smallest disclosed amount is $310K (Picea Biosolutions, 2026-04-01).

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