Funding emphasis: Biotech leads the top 10 funding rounds in the Netherlands during the first half of 2025.

      Funding focus is a new series that examines financial inflow into the European tech sector. Following our initial look at the largest funding rounds of the year so far, we now shift our attention to the most significant deals in the Netherlands for the first half of the year.

      According to Dealroom data, Dutch startups raised only $503 million (€429 million) in the first quarter of this year, marking the lowest quarterly total since the onset of the COVID-19 pandemic. However, the situation has improved three months later.

      Total funding for the first half of 2025 reached $1.4 billion (€1.2 billion). This figure is down from $1.8 billion (€1.54 billion) at the same time last year but up from $1.1 billion (€940 million) in H1 2023.

      The recovery was primarily fueled by a significantly stronger second quarter, during which startups attracted $856 million (€940 million)—a 70% increase from Q1.

      Biotech is leading this momentum, with half of the top 10 funding rounds in H1 coming from life sciences startups. Here is the complete list:

      1. Azafaros — €132M

       HQ: Leiden

       Azafaros develops small-molecule drugs aimed at treating rare metabolic disorders. The company secured €132 million in a Series B round in June 2025.

      2. Finom — €115M

       HQ: Amsterdam

       Finom operates a pan-European neobank catering to SMEs and entrepreneurs. It raised €115 million in a Series C round in June, following a €50 million Series B round the previous year.

      3. Mews — €64M

       HQ: Amsterdam

       Hospitality platform Mews obtained $75 million (€64 million) in March. To date, Mews has raised over $500 million (€425 million), making it one of the best-funded scaleups in the Netherlands.

      4. Toloka — €62M

       HQ: Amsterdam

       Toloka is a crowdsourcing platform utilizing a global network of human workers to label and evaluate data—text, images, audio, and more—to train and enhance AI models. The business is part of Dutch AI infrastructure company Nebius. In May, Toloka raised $72 million (€62 million) in a funding round led by Jeff Bezos' investment firm, Bezos Expeditions.

      5. Leyden Labs — €60M

       HQ: Leiden

       Leyden Labs focuses on developing intranasal medicines to guard against respiratory viruses. In January, it raised $70 million (€60 million), increasing its total funds raised to $257 million (€220 million).

      6. Alesta Therapeutics — €56M

       HQ: Leiden

       Alesta Therapeutics is another biotech startup from Leiden, known for being one of Europe's leading life science hubs. The company develops oral small-molecule therapies for rare diseases. In January, it raised $65 million (€56 million) in a Series A funding round.

      7. Salvia BioElectronics — €53M

       HQ: Eindhoven

       Salvia BioElectronics creates soft brain implants designed to treat chronic migraines using gentle electrical pulses. In May, the startup raised €53 million in Series B funding.

      8. Avidicure — €44M

       HQ: Amsterdam

       Avidicure specializes in developing antibody therapies to stimulate the immune system for cancer treatment. In April, it secured a substantial €44 million seed round to accelerate its R&D efforts.

      9. Piano — €38M

       HQ: Amsterdam

       Piano provides tools to help businesses analyze their customers' online behavior and deliver personalized content or offers to enhance engagement and boost sales. In February, it raised $45 million (€38 million) in Series D funding.

      10. Vivici — €32.5M

       Vivici is a foodtech startup employing precision fermentation to create animal-free dairy proteins. These proteins aim to replace traditional dairy components like whey and casein. In February, it raised €32.5 million in Series A funding.