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German startups receive record investments of 7.6 bln euros in H1

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BERLIN, July 14 (Xinhua) — Startups in Germany received a record amount of 7.6 billion euros (around 8.9 billion U.S. dollars) from investors in the first half (H1) of the year 2021, according to a study published by consulting firm Ernst & Young (EY) on Wednesday.

Investments in German startups in the first six months “literally exploded” and were three times as high as in the same period of the previous year, EY noted. The value already exceeded 2020, when total investments reached 5.2 billion euros.

The number of financing rounds for German startups also rose sharply by 62 percent to 588, according to the study. In the first half of the year, more young companies received financial support than ever before.

With 263 financing rounds, startups in the capital Berlin accounted for 47 percent of all financing rounds counted in Germany. Berlin startups received around 4.1 billion euros in H1, more than half of the total distributed investments.

“Berlin was once again the hotspot of the German startup scene in the first half of 2021,” EY noted, adding that the top seven German federal states all recorded more deals than in the same period last year. (1 euro = 1.18 U.S. dollar) Enditem