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German Startup News – Q1 2026: Germany's Funding Market Becomes a Selection Event

Headlines say the funding winter is over. The data says something sharper: Germany’s startup market isn’t recovering — it’s selecting. In this Q1 2026 review built from ~400 signals, Joe Menninger lays out three structural shifts: capital concentrating into fewer mega-deals, Munich overtaking Berlin, and an exit window reopening only for proven category leaders.

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Why this episode matters: The rule that “a big TAM and a good narrative equals funding” is dead. This is the clearest read on what investors now underwrite…

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