Dutch Tech Thrives in 2024: A Year in Review
2024 proved to be a remarkable year for the Dutch tech ecosystem. According to the 2024 Global Startup Ecosystem Report by Startup Genome, the Netherlands now ranks 13th globally, surpassing both Paris and Berlin. Despite a decrease in the number of startup deals, overall investment increased, reaching $2.2 billion in 2023, according to the Dutch Startup Association. Several Dutch startups and scaleups achieved significant milestones throughout the year.
Picnic Raises Major Funding
Online supermarket Picnic started the year strong, securing a €355 million funding round in January. The Bill and Melinda Gates Foundation participated in the round, bringing the company’s total funding to €1.3 billion. Having expanded into France and Germany, Picnic’s revenue grew by 40% in 2023. The company’s fully automated fulfillment centers and delivery algorithms have allowed it to succeed in a market where some online grocery delivery startups have struggled. Picnic was founded in 2015.
In 2018, Daniel Gebler, Picnic’s CTO, presented the company’s technology at the TNW Conference. Gebler’s achievements were also recognized when he was named CxO of the Year by Computable.nl.
DataSnipper Achieves Unicorn Status
Auditing platform DataSnipper, headquartered in Amsterdam, reached a valuation of $1 billion in February after raising $100 million in a Series B round. This round, led by Index Ventures, will help DataSnipper expand its services to include forensic accountants and tax advisors. Their clients already include Hilton, Siemens, and Frontier Airlines. DataSnipper was founded in 2017 by Maarten Alblas, Jonas Ruyter, and Kai Bakker. Vidya Peters, who previously served as Chief Operating Officer at Marqeta, joined the company as CEO in 2023 and is pictured above with the company’s founding team. Peters aims to connect unstructured data across industries and believes there is great potential for global growth and expansion.
Mews and Carbon Equity Secure Funding
Hotel management software provider Mews achieved a €1.1 billion valuation in March after a €101 million funding round led by Kinnevik, a Swedish investment company. The good news continued for Mews, which was founded in 2012 by Richard Valter, a former hotelier. In September, they secured an additional €90 million from Vista Credit Partners. The company has already acquired nine other startups in this sector, with these added funds allowing Mews to reinforce its position as a market leader. Meanwhile, Carbon Equity, a leading climate fund investment startup, raised €100 million for its Climate Tech Portfolio Fund II, more than doubling its initial fund from 2022.
Founded in 2021, Carbon Equity has quickly gained prominence in the investment sector for curated clean tech solutions. In October, Wired recognized Carbon Equity as one of Amsterdam’s hottest startups. At the beginning of December, co-founder Jacqueline van den Ende was given the Changemaker of the Year award by Change Inc.
Dutch Ministry of Defence Launches Tech Fund
In a sign of the times, the Dutch Ministry of Defence announced the launch of a €100 million fund aimed at providing early-stage financing to Dutch startups, scaleups, and SMEs that focus on specific innovation needs. The fund will invest up to €5 million per company, with a focus on technologies that have dual-use capabilities — meaning they can be used for both civilian and military applications. The fund is expected to open in 2025.
2025 promises to be an exciting year as Amsterdam celebrates its 750th anniversary and TNW Conference returns to NDSM island in June. The Dutch tech ecosystem is expected to showcase the newest advancements.
