Micro‐Raman spectroscopy has been used to investigate the chemical micro‐heterogeneity of multiphase‐separated poly(ether urethanes) (PETU). Analysis of PETU cross‐sections by means of micro‐Raman spectroscopy revealed the nearly complete absence of soft segments in AI aggregates (called globules). These aggregates are in the order of a few micrometers in size. The composition of the matrix and the AII aggregates (spherulites) was comparable.