Oka data report · Q3 2026

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Seed rounds in Europe and DACH — Q3 2026

Oka recorded 73 seed rounds in Europe in Q3 2026 (July–September 2026). 12 of them (16% of rounds with a known country) were raised by startups in Germany, Austria or Switzerland. The most active seed investors were HTGF (5 rounds), Y Combinator (3 rounds) and Norrsken Evolve (3 rounds).

Published 1 October 2026 · counts as of 5 October 2026

73

Seed rounds in Europe, Q3 2026

12

in DACH — 16% of rounds with a known country

253

investors named on at least one seed round

By month

MonthSeed roundsShare
July3244%
August1622%
September2534%

For context: 43 pre-seed rounds and 301 rounds of all stages were recorded in the same quarter (186 with a reported stage).

Where the startups are

CountrySeed roundsShare
United Kingdom1926%
Germany1014%
Italy710%
France68%
Sweden68%
Netherlands57%
Finland34%
Belgium23%
Bulgaria23%
Denmark23%

Share of the 73 seed rounds with a known country.

Sectors

SectorSeed roundsShare
AI / ML2433%
DeepTech1318%
Climate710%
HealthTech45%
B2B SaaS34%
EdTech34%
FoodTech34%
Biotech & Pharma23%

Share of the 73 seed rounds with a known sector.

Most active seed investors — Europe

InvestorSeed roundsOf which led
HTGF52
Y Combinator32
Norrsken Evolve3–
Felix Capital22
Oxford Science Enterprises22
Unconventional Ventures22
UVC Partners22
Arches Capital21
Navigare Ventures21
redalpine21

Most active seed investors — DACH

InvestorSeed roundsOf which led
HTGF42
UVC Partners22
redalpine21
Y Combinator21

Methodology

Oka reads funding announcements from European tech and business press and records each round with its date, stage, sector, the startup's country and the investors the article names. This report counts the rounds announced between July–September 2026 that are published on our funding rounds pages, where every round links to its article.

A seed round is a round the article called seed. Stage, sector and country are taken as reported; rounds without them are left out of the share they would belong to, and every share names its base. Investors are counted once per round; "led" means the article named them as lead or co-lead. Only organisations are listed — individual business angels are never named. An investor needs at least 2 seed rounds in the quarter to be ranked.

What this is not: a complete count of the market. Rounds that were never reported are missing, coverage is strongest in Europe, and late announcements about the quarter still arrive — the counts above are updated daily and dated. We do not publish euro totals: amounts appear in mixed currencies and wording ("more than $10M"), and a converted sum would be more precise than true.

Sources

8 publications, most often: tech.eu (35), eu-startups.com (19), sifted.eu (4), techfundingnews.com (4), therecursive.com (4), arcticstartup.com (3), prnewswire.com (2), techcrunch.com (2).

To cite: “Seed rounds in Europe and DACH — Q3 2026”, Oka, 5 October 2026, https://getoka.ai/reports/seed-rounds-europe-dach-q3-2026.

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