Dutch Startup Funding Fell to €1.9 Billion in H1 2026, but the Biggest Rounds Got Bigger

The Dutch startup market raised €1.9 billion across 65 disclosed funding rounds in the first half of 2026, according to newly updated data from Tech.eu. That is a sharp year-on-year contraction: capital raised fell 59.8%, while the number of rounds declined 55.8%.

The headline downturn hides an important second trend. Capital became highly concentrated in a relatively small number of companies. Six Dutch startups raised at least €100 million, while the ten largest rounds accounted for 74.1% of all disclosed funding in the period. The market was weaker overall, but investors were still willing to write very large cheques for selected companies.

Semiconductors and deep tech absorbed some of the largest rounds

Nearfield Instruments recorded the largest disclosed round at €332 million, followed by hospitality software company Mews at €255 million, AI-chip company Axelera AI at €212 million and quantum-computing company QuantWare at €152 million. Tech.eu's sector analysis puts semiconductors at roughly €570.5 million of H1 funding, the largest sector by capital raised.

Healthtech led by deal activity rather than total capital. That split is useful for understanding the Dutch ecosystem. A small number of capital-intensive semiconductor, quantum and deep-tech companies can move the national funding total dramatically even when the broader early-stage market remains cautious.

Our view: the funding market is narrower, not inactive

Dutch Business Review's view is that the H1 data describes a selective funding market rather than a disappearance of Dutch venture capital. The strongest companies in strategic sectors are still able to raise large rounds, but fewer deals mean the median founder is likely operating in a much tighter environment than the headline mega-rounds suggest.

The next update should track H2 deal count as closely as total euros. If funding remains concentrated while the number of rounds stays depressed, the Netherlands can continue producing headline-scale winners while the pipeline beneath them weakens. For a healthy ecosystem, both dimensions matter.