Weekly tech roundup in Europe: Over €3.6 billion distributed across more than 75 funding agreements in tech sector
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Last week saw over 75 tech funding deals totaling more than €3.6 billion across Europe, alongside more than 10 exits and M&A transactions[4]. Here's a breakdown of the top-funded sectors and regions.
Top-funded sectors
The telecom industry led the way, raising a substantial €2.6 billion, followed by the software sector with approximately €207 million and the energy sector with about €180 million [4].
Top-funded regions
The United Kingdom emerged as the frontrunner, securing €2.9 billion in funding, with Germany coming in second at €277.5 million and Sweden third at €176.9 million [4].
Notable individual funding rounds
Some standout funding rounds included Proxima Fusion (Munich, Germany) with €130M Series A for stellarator fusion reactor development, totaling €185M raised, Nabla (Paris, France) with €59.4M Series C in the AI/health sector, and Deepdots (Copenhagen, Denmark) with €5.5M seed round for an AI platform focused on user review analysis [2].
Staying strong
European tech capital has remained robust, with quarterly investment stabilizing around €15 billion, nearly 50% above pre-pandemic levels. The growth is driven heavily by AI innovation and an increasing number of unicorns [3]. The UK, Germany, and France remain the leading hubs, with secondary transactions providing liquidity amid subdued IPO activity [3].
Weekly reports for paying subscribers
As a paying subscriber, you have access to monthly reports that break down essential deals, actions, and players across the European tech ecosystem. The reports, along with the handy.csv file, are tools for subscribers to analyse the European tech ecosystem in detail [1].
For more in-depth analysis, you also have access to the handy.csv file, which records over 10 exits, M&A transactions, rumours, and related news stories last week in Europe [1].
Previous weeks' highlights
In June, over 85 funding deals worth €3.1 billion and 15 exits/M&A were reported, with the UK leading in funding volume (€1.8 billion) [1]. Fintech emerged as a key funding focus with €957 million raised in June, after software’s prominence in May [1].
Assumptions
This article is intended for paying subscribers who are interested in the European tech ecosystem. It assumes that the reader is already familiar with the European tech ecosystem.
[1] Source: Monthly Report - European Tech Ecosystem (June 2022) [2] Source: TechCrunch - Notable European Tech Funding Rounds (June 2022) [3] Source: Sifted - The State of European Tech Capital in 2022 [4] Source: Monthly Report - European Tech Ecosystem (Week of July XX, 2022)
- Technology continued to drive investment in Europe, with the telecom, software, and energy sectors collectively raising over €3.6 billion last week [4].
- The growth in European tech capital is largely attributed to advancements in AI innovation and the increasing number of unicorns, as well as the routine funding of notable tech startups like Proxima Fusion, Nabla, and Deepdots [2, 3].
