How big is a typical seed or Series A round, and how many startups make it to the next one?

Median seed round by ecosystem (US$ millions)

One methodology across ecosystems: the median of seed rounds raised by tech startups in each ecosystem over H2 2023–2025. Regional and global rows are Startup Genome's averages of the ecosystem medians in that set.

Median Series A round by ecosystem (US$ millions)

Same methodology: the median Series A raised by tech startups in each ecosystem. The spread is wider than at seed — a Series A in Manila is ten times one in Istanbul.

National sources by stage: medians and averages

Country reports with their own definitions. Medians and averages are labelled as such and are not interchangeable: an average is pulled up by a few large rounds.

Getting to the next round: graduation rates and timing

How many startups raise again and how long the gap is. Windows differ between sources (12 months vs two years), so the rates describe each market rather than rank them.

Methodology

Every number on this page is a fact node in the God of Startups Atlas — a knowledge graph where each metric carries its source URL, reporting period, evidence tier and the verbatim quote it was taken from. Tier 1 means official or statutory sources (British Business Bank, Invest Europe, PitchBook-NVCA); tier 2 means industry research with a disclosed method. Values are shown in the currency the source reports; nothing is converted, estimated or modelled.

Related benchmarks

Market cells behind this benchmark

Fact tables from the same knowledge graph — one market, every number with its source, period and evidence tier.