Startups ranked by AI-estimated valuation
Germany’s 50 most valuable startups
A quarterly ranking of non-listed German startups that have already raised funds, established by artificial intelligence from public information. The market sets the value; our AI estimates it.
The market at a glance
50companies ranked
56companies on the radar
USD 9.2bnraised in 2025
716rounds in 2025
German startups raised EUR 8.4bn (USD 9.2bn) across 716 rounds in 2025, up 19% on 2024, with Bavaria overtaking Berlin by volume. 2026 is running ahead, driven by mega-rounds in defence (Helsing, Quantum Systems, STARK), robotics (NEURA) and space (Isar Aerospace). Sources: EY Startup-Barometer Germany (Jan 2026), EY Startup-Barometer Germany (Jul 2026). Intention counters will be shown above a threshold of amount and number of Backers.
Listed benchmarks
Zalando · Online fashion · Xetra · ZALDelivery Hero · Food delivery · Xetra · DHERHelloFresh · Meal kits · Xetra · HFGAuto1 Group · Online used cars · Xetra · AG1BioNTech · mRNA biotech · Nasdaq · BNTX
Not ranked: no intention is possible on a listed company.
National ranking · all sectors
First edition: no movements yet.| # | Company | Sub-sector | Known funding | Estimated valuation (AI) · range | Confidence | Back |
|---|---|---|---|---|---|---|
| 1 | HelsingMunich · founded 2021 Valued at EUR 12bn in Jun 2025. Also has entities in the UK and France. |
Defence › AI software and strike drones | USD 3.3bn+ raised Series E · USD 1.8bn · Jul 2026 (Lightspeed, General Catalyst; Prima Materia, Accel, Greenoaks) |
Last known equity round: Series E · USD 1.8bn · Jul 2026 (Lightspeed, General Catalyst; Prima Materia, Accel, Greenoaks) Published valuation: USD 18bn (Jul 2026) Confidence index: HighMethod |
Solid sources | Back |
| 2 | Trade RepublicBerlin · founded 2015 Valuation of EUR 12.5bn set by the secondary sale. Profitable, with a full banking licence. |
Fintech › retail brokerage and banking | USD 1.3bn+ raised Secondary sale · EUR 1.2bn (USD 1.3bn) · Dec 2025 (Founders Fund, Sequoia, Accel, TCV, Thrive; Wellington, Fidelity, GIC) |
No equity round with a disclosed amount. Published valuation: USD 13.8bn (Dec 2025) Confidence index: HighMethod |
Solid sources | Back |
| 3 | Quantum SystemsGilching (Munich) · founded 2015 Valued at about EUR 7bn, up from EUR 3bn in Nov 2025. Profitable, according to its co-CEO. |
Defence › reconnaissance drones | USD 1.8bn+ raised Series D · USD 1.2bn (EUR 1bn) · Jul 2026 (Blackstone, Noteus, Airbus, Advent; Bond, Fidelity) |
Last known equity round: Series D · USD 1.2bn · Jul 2026 (Blackstone, Noteus, Airbus, Advent; Bond, Fidelity) Published valuation: USD 8bn (Jul 2026) Confidence index: HighMethod |
Solid sources | Back |
| 4 | NEURA RoboticsMetzingen · founded 2019 Reported valuations diverge: about USD 7bn in some reports, about EUR 4bn in others. The round is paid in tranches. |
Robotics › cognitive and humanoid robots | USD 1.5bn+ raised Series C · up to EUR 1.2bn (USD 1.4bn) · Jun 2026 (Tether; Qualcomm, Amazon, Nvidia, Bosch, Schaeffler) |
Last known equity round: Series C · USD 1.4bn · Jun 2026 (Tether; Qualcomm, Amazon, Nvidia, Bosch, Schaeffler) Published valuation: USD 7bn (Jun 2026) Confidence index: LowMethod |
Weak sources | Back |
| 5 | CelonisMunich · founded 2011 Valued at USD 13bn in Aug 2022; no priced round since. Dual headquarters in Munich and New York; owns Make. |
Enterprise software › process mining | USD 1.8bn+ raised Series D extension · USD 400M · Aug 2022 (Qatar Investment Authority) |
Last known equity round: Series D extension · USD 400M · Aug 2022 (Qatar Investment Authority) Published valuation: USD 13bn (Aug 2022) Confidence index: MediumMethod |
Partial sources | Back |
| 6 | n8nBerlin · founded 2019 SAP invested at a USD 5.2bn valuation, after a Series C at USD 2.5bn in Oct 2025. |
AI › workflow automation | USD 240M+ raised Strategic investment · SAP · May 2026; Series C · USD 180M · Oct 2025 (Accel; Meritech, Redpoint, NVentures) |
Last known equity round: Series C · USD 180M · Oct 2025 (Accel; Meritech, Redpoint, NVentures) Published valuation: USD 5.2bn (May 2026) Confidence index: HighMethod |
Solid sources | Back |
| 7 | STARKBerlin · founded 2024 Reported valuation of EUR 3bn to EUR 3.5bn. Holds a Bundeswehr framework contract worth up to EUR 2.9bn. |
Defence › loitering munitions | USD 700M (EUR 640M) raised Growth round · EUR 500M (USD 550M) · Jun 2026 (Sequoia, Founders Fund, NATO Innovation Fund; Project A, Air Street) |
Last known equity round: Growth round · USD 550M · Jun 2026 (Sequoia, Founders Fund, NATO Innovation Fund; Project A, Air Street) Published valuation: USD 3.3bn (Jun 2026) Confidence index: LowMethod |
Weak sources | Back |
| 8 | Black Forest LabsFreiburg · founded 2024 Maker of the FLUX image models. Valued at USD 3.25bn after the round; earlier reports mentioned about USD 4bn. |
AI › image and video generation models | USD 430M+ raised Series B · USD 300M · Dec 2025 (Salesforce Ventures, AMP; a16z, Nvidia, Canva, Figma) |
Last known equity round: Series B · USD 300M · Dec 2025 (Salesforce Ventures, AMP; a16z, Nvidia, Canva, Figma) Published valuation: USD 3.2bn (Dec 2025) Confidence index: LowMethod |
Weak sources | Back |
| 9 | PersonioMunich · founded 2015 Valued at USD 8.5bn in Jun 2022; no priced round since. Acquired the expense platform Circula. |
HR tech › HR software for SMEs | USD 720M+ raised Series E extension · USD 200M · Jun 2022 (Greenoaks, Altimeter) |
Last known equity round: Series E (second tranche) · USD 200M · Jun 2022 (Greenoaks, Altimeter) Published valuation: USD 8.5bn (Jun 2022) Confidence index: MediumMethod |
Partial sources | Back |
| 10 | ParloaBerlin · founded 2018 Valuation tripled in eight months, from about USD 1bn in May 2025. Large team in New York. |
AI › voice agents for customer service | USD 560M+ raised Series D · USD 350M · Jan 2026 (General Catalyst; EQT Ventures, Altimeter, Durable, Mosaic) |
Last known equity round: Series D · USD 350M · Jan 2026 (General Catalyst; EQT Ventures, Altimeter, Durable, Mosaic) Published valuation: USD 3bn (Jan 2026) Confidence index: HighMethod |
Solid sources | Back |
| 11 | Proxima FusionMunich · founded 2020 Valued at EUR 2.4bn after the round. Stellarator fusion power plants. |
Energy › stellarator fusion | USD 610M+ (equity) raised Series B · EUR 411M (USD 452M) · Jul 2026 (XTX Ventures, East X Ventures; RWE, Google, KfW Capital, Balderton, Lightspeed) |
Last known equity round: Series B · USD 452M · Jul 2026 (XTX Ventures, East X Ventures; RWE, Google, KfW Capital, Balderton, Lightspeed) Published valuation: USD 2.6bn (Jul 2026) Confidence index: HighMethod |
Solid sources | Back |
| 12 | EnpalBerlin · founded 2017 Reported valuation of about USD 2.5bn. Revenue of about EUR 860M in 2024; its large asset-backed debt is not counted. |
Climate › residential solar and heat pumps | USD 650M+ (equity) raised Growth round · EUR 110M (USD 125M) · Apr 2025 (TPG Rise Climate; SoftBank) |
Last known equity round: Growth round · USD 125M · Apr 2025 (TPG Rise Climate; SoftBank) Published valuation: USD 2.5bn (Apr 2025) Confidence index: LowMethod |
Weak sources | Back |
| 13 | The Exploration CompanyPlanegg (Munich) · founded 2021 Post-money valuation not published; talks were reported at about USD 2bn. |
Space › reusable cargo capsules | USD 680M+ raised Series C · USD 450M (EUR 387M) · Sep 2026 (Bessemer, Atomico, Scaleup Europe Fund) |
Last known equity round: Series C · USD 450M · Sep 2026 (Bessemer, Atomico, Scaleup Europe Fund) Confidence index: HighMethod |
Partial sources | Back |
| 14 | RaisinBerlin · founded 2012 Valued at more than EUR 2bn by the secondary sale. Profitable. |
Fintech › savings marketplace | USD 450M+ raised Secondary sale · EUR 100M+ · Dec 2024 (Tencent); last primary round Series E · EUR 60M · Mar 2023 |
Last known equity round: Series E (last primary) · USD 65M · Mar 2023 Published valuation: USD 2.2bn (Dec 2024) Confidence index: HighMethod |
Solid sources | Back |
| 15 | Isar AerospaceOttobrunn (Munich) · founded 2018 Still private. Valued at about EUR 2bn according to press reports, not confirmed by the company. |
Space › orbital launch vehicles | USD 740M+ (equity) raised Series D · EUR 270M (USD 297M) · Jun 2026 (Island Green Capital, Molten Ventures; HV Capital, Lakestar, KfW Capital) |
Last known equity round: Series D · USD 297M · Jun 2026 (Island Green Capital, Molten Ventures; HV Capital, Lakestar, KfW Capital) Published valuation: USD 2.2bn (Jun 2026) Confidence index: HighMethod |
Solid sources | Back |
| 16 | FlixMunich · founded 2011 FlixBus, FlixTrain and Greyhound. The 2024 deal mixed new and existing shares; IPO shelved in 2024. Revenue of about EUR 2bn. |
Mobility › intercity bus and rail marketplace | USD 1bn+ raised Minority investment · about EUR 1bn for 35% · Jul 2024 (EQT, Kühne Holding) |
Last known equity round: Minority investment · USD 1.1bn · Jul 2024 (EQT, Kühne Holding) Published valuation: USD 3.1bn (Jul 2024) Confidence index: LowMethod |
Weak sources | Back |
| 17 | TubulisMunich · founded 2019 Largest private biotech round in Germany in 2025. Antibody-drug conjugates for cancer. |
Biotech › antibody-drug conjugates | USD 550M+ raised Series C · EUR 308M (USD 361M) · Oct 2025 (Venrock, Wellington, Nextech, EQT Life Sciences) |
Last known equity round: Series C · USD 361M · Oct 2025 (Venrock, Wellington, Nextech, EQT Life Sciences) Confidence index: HighMethod |
Partial sources | Back |
| 18 | Scalable CapitalMunich · founded 2014 Valued at about EUR 1.5bn. More than USD 34bn of client assets. |
Fintech › retail brokerage | USD 535M+ raised Growth round · EUR 155M (USD 175M) · Jun 2025 (Sofina, Noteus Partners; Balderton, Tencent, HV Capital) |
Last known equity round: Series F / growth · USD 175M · Jun 2025 (Sofina, Noteus Partners; Balderton, Tencent, HV Capital) Published valuation: USD 1.6bn (Jun 2025) Confidence index: HighMethod |
Solid sources | Back |
| 19 | sennderBerlin · founded 2015 Valued at more than USD 1bn at its Series D. Revenue of about USD 1.1bn in 2024. |
Logistics › digital road freight | USD 450M+ raised Series D extension · EUR 60M · Dec 2022, added to the USD 240M Series D of 2021 |
Last known equity round: Series D, incl. extension · USD 303M · Dec 2022 Published valuation: USD 1bn (Jun 2021) Confidence index: LowMethod |
Weak sources | Back |
| 20 | DeepLCologne · founded 2017 Valued at USD 2bn in May 2024. Reported to have weighed a US listing; cut a quarter of its staff in May 2026. |
AI › machine translation | USD 400M+ raised Series C · USD 300M · May 2024 (Index Ventures; ICONIQ, IVP, Teachers’ Venture Growth) |
Last known equity round: Series C · USD 300M · May 2024 (Index Ventures; ICONIQ, IVP, Teachers’ Venture Growth) Published valuation: USD 2bn (May 2024) Confidence index: MediumMethod |
Partial sources | Back |
| 21 | N26Berlin · founded 2013 Valued at USD 9bn in 2021; a 2023 stake sale by Allianz X implied about USD 3bn. First full-year profit in 2025. |
Fintech › mobile bank | USD 1.8bn raised Series E extension · USD 900M+ · Oct 2021 (Third Point, Coatue, Dragoneer) |
Last known equity round: Series E · USD 900M · Oct 2021 (Third Point, Coatue, Dragoneer) Published valuation: USD 3bn (Apr 2023) Confidence index: LowMethod |
Weak sources | Back |
| 22 | GetYourGuideBerlin · founded 2009 Valued at USD 2bn in 2023. Profitable since 2025, with revenue near EUR 1bn. |
Travel › tours and activities | USD 1bn+ raised Series F · USD 85M in equity · Jun 2023 (Blue Pool Capital; KKR, Temasek) |
Last known equity round: Series F · USD 85M · Jun 2023 (Blue Pool Capital; KKR, Temasek) Published valuation: USD 2bn (Jun 2023) Confidence index: MediumMethod |
Partial sources | Back |
| 23 | Focused EnergyDarmstadt · founded 2021 Laser fusion. Also has offices in Austin and San Francisco. |
Energy › laser fusion | USD 300M+ raised Series A · USD 240M · May 2026 (RWE; SPRIND, EIC Fund, Prime Movers Lab) |
Last known equity round: Series A · USD 240M · May 2026 (RWE; SPRIND, EIC Fund, Prime Movers Lab) Confidence index: HighMethod |
Partial sources | Back |
| 24 | SunfireDresden · founded 2010 Electrolysers. Its 2025 financing was debt and is not counted. |
Climate › electrolysers | USD 450M+ (equity) raised Series E · EUR 215M in equity · Mar 2023 (LGT Lightrock, Carbon Direct) |
Last known equity round: Series E · USD 230M · Mar 2023 (LGT Lightrock, Carbon Direct) Confidence index: LowMethod |
Weak sources | Back |
| 25 | TaxfixBerlin · founded 2016 Valued at more than USD 1bn at its Series D; no round since. |
Fintech › tax filing app | USD 330M+ raised Series D · USD 220M · Apr 2022 (Index Ventures, Valar, Creandum) |
Last known equity round: Series D · USD 220M · Apr 2022 (Index Ventures, Valar, Creandum) Published valuation: USD 1bn (Apr 2022) Confidence index: MediumMethod |
Partial sources | Back |
| 26 | Agile RobotsMunich · founded 2018 Unicorn since 2021. Revenue of about EUR 300M in 2025; a new round with SoftBank was reported in talks in Jun 2026. |
Robotics › industrial robots | Undisclosed total raised Series C · USD 220M · Sep 2021 (SoftBank Vision Fund 2) |
Last known equity round: Series C · USD 220M · Sep 2021 (SoftBank Vision Fund 2) Published valuation: USD 1bn (Sep 2021) Confidence index: LowMethod |
Weak sources | Back |
| 27 | MossBerlin · founded 2019 Valued at more than EUR 1bn. Annual recurring revenue above EUR 70M. |
Fintech › spend management | USD 150M+ raised Series C · EUR 30M (USD 33M) · Aug 2026 (Portage; Cherry Ventures) |
Last known equity round: Series C · USD 33M · Aug 2026 (Portage; Cherry Ventures) Published valuation: USD 1.1bn (Aug 2026) Confidence index: HighMethod |
Solid sources | Back |
| 28 | FINNMunich · founded 2019 Valued at more than EUR 1bn. Car fleet financed by debt, not counted. |
Mobility › car subscription | USD 275M+ (equity) raised Series D · EUR 100M (USD 110M) in equity · Jun 2026 (Portage; UVC, Planet First, HV Capital, Picus) |
Last known equity round: Series D · USD 110M · Jun 2026 (Portage; UVC, Planet First, HV Capital, Picus) Published valuation: USD 1.1bn (Jun 2026) Confidence index: HighMethod |
Solid sources | Back |
| 29 | 1KOMMA5°Hamburg · founded 2021 Valued at more than EUR 1bn. Its EUR 1bn financing of Jun 2026 was mostly debt and is not counted. |
Climate › solar and heat pump installation | USD 440M+ (equity) raised Growth round · EUR 150M · Jul 2025 (Sabanci Climate Ventures) |
Last known equity round: Pre-IPO round · USD 165M · Dec 2024 Published valuation: USD 1.1bn (Dec 2024) Confidence index: HighMethod |
Solid sources | Back |
| 30 | osapiensMannheim · founded 2018 Announced unicorn status with this round; exact valuation not disclosed. |
Software › ESG and supply-chain compliance | USD 245M+ raised Series C · USD 100M · Mar 2026 (Decarbonization Partners) |
Last known equity round: Series C · USD 100M · Mar 2026 (Decarbonization Partners) Published valuation: USD 1bn (Mar 2026) Confidence index: HighMethod |
Solid sources | Back |
| 31 | ReverionEresing (Bavaria) · founded 2022 Spin-off of the Technical University of Munich. Reversible power plants running on biogas and hydrogen. |
Energy › reversible power plants | USD 200M+ raised Series B · USD 175M · Sep 2026 (Kembara; Allianz, KfW Capital, Aurum Impact) |
Last known equity round: Series B · USD 175M · Sep 2026 (Kembara; Allianz, KfW Capital, Aurum Impact) Confidence index: LowMethod |
Weak sources | Back |
| 32 | FlinkBerlin · founded 2020 Valued at USD 900M, down from USD 2.85bn in 2022. REWE is a minority shareholder. |
E-commerce › quick commerce | USD 1.3bn+ raised Growth round · USD 100M · Mar 2026 (Prosus Ventures, Btomorrow Ventures) |
Last known equity round: Growth round · USD 100M · Mar 2026 (Prosus Ventures, Btomorrow Ventures) Published valuation: USD 900M (Mar 2026) Confidence index: HighMethod |
Solid sources | Back |
| 33 | AMBOSSBerlin · founded 2012 Valued at more than EUR 800M according to the press. Cash-flow positive. |
Healthtech › clinical knowledge platform | USD 330M+ raised Growth round · EUR 240M (USD 264M) · Mar 2025 (KIRKBI, M&G, Lightrock; Partech) |
Last known equity round: Growth · USD 264M · Mar 2025 (KIRKBI, M&G, Lightrock; Partech) Published valuation: USD 880M (Mar 2025) Confidence index: HighMethod |
Solid sources | Back |
| 34 | CatalYmPlanegg-Martinsried (Munich) · founded 2016 Cancer immunotherapy, in mid-stage clinical trials. |
Biotech › cancer immunotherapy | USD 150M+ raised Series D · USD 150M · Jul 2024 (Canaan, Bayer, Novo Holdings) |
Last known equity round: Series D · USD 150M · Jul 2024 (Canaan, Bayer, Novo Holdings) Confidence index: MediumMethod |
Partial sources | Back |
| 35 | commercetoolsMunich · founded 2006 Valued at USD 1.9bn in 2021. Majority-owned by the fund Insight Partners since 2019. |
Software › composable commerce | USD 285M+ raised Series C · USD 140M · Sep 2021 (Accel; Insight Partners) |
Last known equity round: Series C · USD 140M · Sep 2021 (Accel; Insight Partners) Published valuation: USD 1.9bn (Sep 2021) Confidence index: MediumMethod |
Partial sources | Back |
| 36 | UpvestBerlin · founded 2017 Valued at EUR 640M, up from EUR 360M in Dec 2024. Clients include Revolut and N26. |
Fintech › investment infrastructure | USD 280M+ (equity) raised Series D · EUR 79M (USD 90M) in equity · Mar 2026 (Sapphire Ventures, Tencent) |
Last known equity round: Series D · USD 90M · Mar 2026 (Sapphire Ventures, Tencent) Published valuation: USD 704M (Mar 2026) Confidence index: HighMethod |
Solid sources | Back |
| 37 | ClarkFrankfurt · founded 2015 Shareholders marked its value down to EUR 613M in May 2026, from EUR 1bn in 2021. Allianz X is the largest shareholder. |
Insurtech › digital insurance broker | USD 400M+ raised Series D and merger with the finanzen group · 2021 (Allianz X, Tencent) |
No equity round with a disclosed amount. Published valuation: USD 675M (May 2026) Confidence index: LowMethod |
Weak sources | Back |
| 38 | SprykerBerlin · founded 2014 Valued at more than USD 500M in 2020. |
Software › B2B commerce platform | USD 230M+ raised Series C · USD 130M · Dec 2020 (TCV, One Peak) |
Last known equity round: Series C · USD 130M · Dec 2020 (TCV, One Peak) Published valuation: USD 500M (Dec 2020) Confidence index: LowMethod |
Weak sources | Back |
| 39 | INERATECKarlsruhe · founded 2016 E-fuels. Spin-off of the Karlsruhe Institute of Technology. |
Climate › e-fuels | USD 165M+ raised Series B · EUR 118M (USD 129M) · Jan 2024 (Piva Capital; Engie, Honda, HTGF) |
Last known equity round: Series B · USD 129M · Jan 2024 (Piva Capital; Engie, Honda, HTGF) Confidence index: MediumMethod |
Partial sources | Back |
| 40 | MoonfareBerlin · founded 2016 | Fintech › private markets investing | USD 190M+ raised Series C · USD 125M · Nov 2021 (Insight Partners; Fidelity International, Temasek) |
Last known equity round: Series C · USD 125M · Nov 2021 (Insight Partners; Fidelity International, Temasek) Confidence index: MediumMethod |
Partial sources | Back |
| 41 | StaffbaseChemnitz · founded 2014 Valued at USD 1.1bn in 2022. |
Software › employee communications | USD 305M raised Series E · USD 115M · Mar 2022 (General Atlantic; Insight Partners) |
Last known equity round: Series E · USD 115M · Mar 2022 (General Atlantic; Insight Partners) Published valuation: USD 1.1bn (Mar 2022) Confidence index: MediumMethod |
Partial sources | Back |
| 42 | ChocoBerlin · founded 2018 Valued at USD 1.2bn in 2022. Now focused on AI order automation for food distributors. |
Foodtech › ordering for restaurants and distributors | USD 300M+ raised Series B extension · USD 111M · Jan 2022 (Coatue, Bessemer, Insight Partners) |
Last known equity round: Series B2 · USD 111M · Jan 2022 (Coatue, Bessemer, Insight Partners) Published valuation: USD 1.2bn (Jan 2022) Confidence index: MediumMethod |
Partial sources | Back |
| 43 | TaktileBerlin · founded 2020 Teams in Berlin and New York. |
AI › decision platform for banks and insurers | USD 185M raised Series C · USD 110M · Jun 2026 (Goldman Sachs Alternatives) |
Last known equity round: Series C · USD 110M · Jun 2026 (Goldman Sachs Alternatives) Confidence index: HighMethod |
Partial sources | Back |
| 44 | SereactStuttgart · founded 2021 Customers include BMW and Daimler Truck. |
Robotics › AI for robot manipulation | USD 140M+ raised Series B · USD 110M (EUR 93M) · Apr 2026 (Headline; Bullhound, Air Street, Creandum, Point Nine) |
Last known equity round: Series B · USD 110M · Apr 2026 (Headline; Bullhound, Air Street, Creandum, Point Nine) Confidence index: HighMethod |
Partial sources | Back |
| 45 | BillieBerlin · founded 2016 Valued at about USD 640M in 2021. Klarna is a minority shareholder. |
Fintech › B2B buy now, pay later | USD 200M+ raised Series C · USD 100M · Oct 2021 (Dawn Capital, Klarna, Tencent) |
Last known equity round: Series C · USD 100M · Oct 2021 (Dawn Capital, Klarna, Tencent) Published valuation: USD 640M (Oct 2021) Confidence index: MediumMethod |
Partial sources | Back |
| 46 | RobCoMunich · founded 2020 | Robotics › modular industrial robots | USD 150M+ raised Series C · USD 100M · Jan 2026 (Lightspeed, Lingotto; Sequoia, Greenfield) |
Last known equity round: Series C · USD 100M · Jan 2026 (Lightspeed, Lingotto; Sequoia, Greenfield) Confidence index: HighMethod |
Partial sources | Back |
| 47 | CamundaBerlin · founded 2013 | Software › process orchestration | USD 110M+ raised Series B · EUR 82M (USD 98M) · Mar 2021 (Insight Partners) |
Last known equity round: Series B · USD 98M · Mar 2021 (Insight Partners) Confidence index: LowMethod |
Weak sources | Back |
| 48 | FortoBerlin · founded 2016 Valued at USD 2.1bn in 2022. Explored a sale and cut about a third of its staff in 2025. |
Logistics › digital freight forwarding | USD 590M+ raised Series D · USD 250M · Jun 2022 (Disruptive, SoftBank Vision Fund 2, Inven Capital) |
Last known equity round: Series D · USD 250M · Jun 2022 (Disruptive, SoftBank Vision Fund 2, Inven Capital) Published valuation: USD 2.1bn (Jun 2022) Confidence index: LowMethod |
Weak sources | Back |
| 49 | SoSafeCologne · founded 2018 | Cybersecurity › security awareness | USD 90M+ raised Series B · USD 73M · Jan 2022 (Highland Europe; Global Founders Capital, Acton) |
Last known equity round: Series B · USD 73M · Jan 2022 (Highland Europe; Global Founders Capital, Acton) Confidence index: MediumMethod |
Partial sources | Back |
| 50 | SciRhomPlanegg-Martinsried (Munich) · founded 2021 Antibodies for autoimmune diseases. |
Biotech › antibodies for autoimmune disease | USD 70M+ raised Series A · EUR 63M (USD 70M) · Jul 2024 (Andera, EQT Life Sciences) |
Last known equity round: Series A · USD 70M · Jul 2024 (Andera, EQT Life Sciences) Confidence index: MediumMethod |
Partial sources | Back |
Back · Declaring an intention does not mean this company is raising funds. · Terms
Ranking in descending order of AI-estimated valuation, based on public information, with no human intervention on the order. The valuations, ranges and brackets shown are editorial estimates produced by AI, purely indicative and imperfect by nature: neither a financial valuation, nor an offer, nor investment advice. Only the market sets a company’s value, through a funding round or a sale. Ranking established by Claude (Anthropic) from public information, following the published rules. A consensus of several AIs will apply from 1 December 2026. Eligibility: at least $1M raised in equity, non-listed company, main operations in Germany. Request a correction
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How to read this ranking
Rank
Companies are ranked by AI-estimated valuation, highest first. The market sets the value; our AI estimates it.
Estimate
An AI-estimated valuation, its uncertainty range and its order of magnitude. Indicative, and imperfect by nature.
- Hundreds of k$
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- Tens of M$
- Hundreds of M$
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Confidence
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- Medium: older or partial information.
- Low: sparse or single-sourced information.
Rankings by sector
Four verticals at launch, more when the feasibility test allows.Coming soon · Top 10
Defence & deeptech
Defence AI, drones, robotics, space launch and fusion energy.
Coming soon · Top 10
AI & software
Process mining, workflow automation, image models, voice agents and translation.
Coming soon · Top 10
Fintech & consumer
Retail brokerage, savings platforms, banking, travel and mobility.
Coming soon · Top 10
Climate & health
Solar and heat pumps, e-fuels, hydrogen, cancer drugs and medical education.
ProptechEdtechFoodtechInsurtechGaming
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Sorted by date of last round, with no judgement and no AI call. Undisclosed amount: the round is confirmed by the press, not its amount.
- Kuro · AI › software for general contractorsFunding round · EUR 10M · Oct 2026Back
- Atira · AI › industrial quoting automationFunding round · USD 17.5M · Sep 2026Back
- Omio · Travel › multimodal ticket bookingStrategic investment · EUR 8.7M (USD 10M) · Jul 2026; USD 400M+ raised in totalBack
- telli · AI › voice agentsFunding round · EUR 13.1M (USD 14M) · Jul 2026Back
- encosa · Climate › business battery storageEUR 25M · Jun 2026Back
- eleQtron · Quantum › trapped-ion computersSeries A · EUR 57M (USD 63M) · May 2026 (Schwarz Digits; EIC Fund, Earlybird, NRW.BANK)Back
- LawX · Legaltech › AI for lawyersSeed · EUR 7.5M · May 2026Back
- bunch · Fintech › fund administration softwareSeries B · EUR 30M (USD 35M) · May 2026 (Portage)Back
- mbiomics · Biotech › microbiome therapeuticsSeries A extension · Series A total EUR 30M (USD 33M) · Apr 2026Back
- Tacalyx · Biotech › antibody-drug conjugatesFunding round · EUR 11M · Apr 2026Back
- Midas · Fintech › tokenised investment productsSeries A · USD 50M (EUR 43M) · Mar 2026 (RRE Ventures, Creandum)Back
- Qdrant · AI › vector databaseSeries B · USD 50M · Mar 2026 (Bosch Ventures)Back
- Interloom · AI › memory for enterprise agentsSeed · EUR 14.2M (USD 16M) · Mar 2026Back
- Tower · Devtools › data engineeringFunding round · EUR 5.5M · Mar 2026Back
- Cellbricks Therapeutics · Biotech › bioprinted tissue implantsFunding round · EUR 10M · Mar 2026Back
- TYTAN Technologies · Defence › interceptor dronesSeries A · EUR 30M (USD 33M) · Feb 2026 (Armira, NATO Innovation Fund; Visionaries Club, Lakestar, OTB)Back
- Blockbrain · AI › enterprise AI agentsFunding round · EUR 17.5M (USD 19M) · Feb 2026Back
- Cognee · AI › memory for AI agentsSeed · EUR 7.5M · Feb 2026Back
- Hypersonica · Defence › hypersonic missilesSeries A · EUR 23.3M · Feb 2026 (Plural; SPRIND)Back
- Recare · Healthtech › hospital discharge platformGrowth round · EUR 37M (USD 41M) · Jan 2026 (DNV; CIBC Innovation Banking)Back
- Exciva · Biotech › neuropsychiatrySeries B · EUR 51M (USD 59M) · Jan 2026 (Gimv; Fountain Healthcare Partners)Back
- Avelios Medical · Healthtech › hospital information systemSeries B · EUR 30M (USD 33M) · Feb 2025 (Sequoia); strategic investments by SAP and Fresenius in 2026Back
- Gardia · Medtech › fall-detection wearableFunding round · EUR 8.5M · 2026 (Peak, Beurer)Back
- hellomed · Healthtech › medication packaging serviceFunding round · EUR 6M · 2026 (IBB Ventures)Back
- Peec AI · Martech › AI search visibilitySeries A · USD 21M · Nov 2025 (Singular; Antler)Back
- Vay · Mobility › remote-driven car rentalStrategic minority investment · USD 60M · Nov 2025 (Grab)Back
- Reflex Aerospace · Space › satellite platformsSeries A · EUR 50M · Nov 2025 (Human Element; Alpine Space Ventures, Bayern Kapital, HTGF)Back
- ARX Robotics · Defence › unmanned ground vehiclesSeries A extension · EUR 11M · Jul 2025 (Speedinvest; HV Capital, NATO Innovation Fund); Series A total EUR 42MBack
- Buena · Proptech › AI property managementSeries A · USD 58M · Jul 2025 (GV; 20VC, Stride, Capnamic)Back
- Knowunity · Edtech › AI study appSeries B · EUR 27M (USD 30M) · Jun 2025 (XAnge lead; Project A, Redalpine, Educapital)Back
- Banxware · Fintech › embedded SME lendingStrategic · EUR 10M · Jun 2025 (UniCredit)Back
- Grover · Consumer › electronics rentalRestructuring round · EUR 30M (USD 33M) for 50% · Apr 2025 (new investors and creditors)Back
- Pliant · Fintech › corporate cardsSeries B · USD 40M · Apr 2025 (Alpha Intelligence Capital, PayPal Ventures)Back
- Marvel Fusion · Energy › laser fusionSeries B extension · EUR 50M (USD 54M) · Mar 2025 (EQT Ventures, Bayern Kapital); Series B total EUR 113MBack
- Alpine Eagle · Defence › counter-drone interceptorsSeed · EUR 10.25M · Mar 2025 (Sequoia)Back
- Planet A Foods · Foodtech › cocoa-free chocolateSeries B · USD 30M · Jan 2025 (World Fund; Omnes Capital)Back
- Nelly · Healthtech › software for medical practicesSeries B · EUR 50M (USD 55M) · Jan 2025 (Lightspeed; Cathay)Back
- Vara · Healthtech › AI breast cancer screeningFunding round · USD 8.9M · Oct 2024Back
- Formo · Foodtech › animal-free dairySeries B · USD 61M · Sep 2024 (Lowercarbon, Elevat3)Back
- planqc · Quantum › neutral-atom computersSeries A · EUR 50M (USD 54M) · Jul 2024 (CATRON Holding, DTCF)Back
- Black Semiconductor · Semiconductors › graphene photonicsSeries A · EUR 25.7M in equity · Jun 2024 (Porsche Ventures, Project A)Back
- cylib · Climate › battery recyclingSeries A · EUR 55M · May 2024 (World Fund, Porsche Ventures)Back
- Langdock · AI › enterprise AI platformSeed · USD 3M · Apr 2024 (General Catalyst, La Famiglia)Back
- Razor Group · E-commerce › Amazon brand aggregatorSeries D · amount undisclosed · Mar 2024 (Presight Capital)Back
- Tacto · AI › procurement softwareSeries B · EUR 50M · Dec 2023 (Sequoia, Index Ventures)Back
- Ada Health · Healthtech › AI symptom assessmentGrowth round · EUR 30M (USD 33M) · Jun 2023 (Bertelsmann Investments)Back
- Finanzguru · Fintech › personal finance appEUR 13M · Apr 2023 (PayPal Ventures, SCOR Ventures)Back
- tado° · Climate › smart thermostatsGrowth round · EUR 55M incl. extension · 2023Back
- Ottonova · Insurtech › digital health insurerSeries F · EUR 34M · Sep 2022 (Cadence Growth Capital lead)Back
- Leapsome · HR tech › performance managementSeries A · USD 60M · Aug 2022 (Insight Partners)Back
- Avi Medical · Healthtech › primary care clinicsSeries B · EUR 50M (USD 53M) · Apr 2022Back
- Mondu · Fintech › B2B buy now, pay laterSeries A · USD 43M · 2022 (Valar)Back
- Getsafe · Insurtech › digital insurerSeries B extension · USD 63M (Series B total USD 93M) · Sep 2021 (Earlybird, Swiss Re, CommerzVentures)Back
- Usercentrics · Martech › consent managementSeries B · EUR 17M · Dec 2020 (Full In Partners)Back
- Feather · Insurtech › insurance for expatsSeries A · EUR 6M (Keen Venture)Back
- Ivy · Fintech › bank payments APIFunding round · EUR 7MBack
Born in Germany, based elsewhere
Companies of German origin whose main operations are now abroad: not ranked, shown with the law governing their shares.
- Mambu · Fintech › cloud core banking
Founded in Berlin in 2011; HQ in AmsterdamSeries E · EUR 235M · Dec 2021 (EQT Growth), at EUR 4.9bnBack - wefox · Insurtech › insurance distribution
Founded in Berlin in 2015; HQ in ZurichRestructuring round · EUR 76M in equity · Jul 2025 (existing investors)Back
Not ranked
- Contentful · Acquisition by Salesforce signed in Jun 2026; founded in Berlin, HQ in San Francisco
- Aleph Alpha · Merger into Cohere (Canada) agreed in Sep 2026
- Cognigy · Acquired by NICE for USD 955M in Sep 2025
- Langfuse · Acquired by ClickHouse in Jan 2026
- Sastrify · Acquired by Deel in May 2026
- Signavio · Acquired by SAP in 2021
- Noxtua · Majority stake taken by the legal publisher C.H.BECK in Sep 2026
- Solaris · Majority stake taken by SBI Holdings (Japan) in Feb 2025
- Kontist · Acquired by Ageras (Denmark)
- Gorillas · Acquired by Getir in Dec 2022
- Tier Mobility · Merged into Dott (Netherlands) in 2024
- Finanzcheck.de · Acquired by smava
- Volocopter · Insolvent in Dec 2024; assets bought by Wanfeng Auto (China) in Mar 2025
- Lilium · Insolvent in Feb 2025; formerly listed on Nasdaq
- Rocket Factory Augsburg · Created by the OHB space group, which remains a major shareholder
- CustomCells · Insolvency proceedings in 2025
- Sono Motors · Formerly listed on Nasdaq; insolvency proceedings
- ITM Isotope Technologies Munich · Acquisition by Telix Pharmaceuticals agreed in Sep 2026 (USD 1.65bn), closing expected end-2026
- Oviva · Founded and headquartered in Zurich (Switzerland), though Germany is its largest market
- Kaia Health · Acquired by Sword Health in Jan 2026
- Cardior Pharmaceuticals · Acquired by Novo Nordisk in 2024
- CureVac · Formerly listed on Nasdaq; acquired by BioNTech in 2025
- Ottobock · Listed in Frankfurt since Oct 2025
- Infarm · Insolvency proceedings in 2023–24
- Ortivity · Orthopaedic clinic group majority-owned by the fund Apheon: healthcare services, not tech
The method in Germany
Calendar. Quarterly ranking, published on the 11th of January, April, July and October. Next edition: October 11, 2026.
Eligibility: at least $1M raised in equity, non-listed company, main operations in Germany.
Partner sought. M&A boutique or capital raising adviser authorised by BaFin (Federal Financial Supervisory Authority).
Sources. German and international business and technology press (Handelsblatt, Manager Magazin, WirtschaftsWoche, Gründerszene, deutsche-startups.de, Tech.eu, EU-Startups, TechCrunch, Bloomberg), EY Startup-Barometer data, company and investor announcements.