Which European countries are winning the tech funding race?
Investment in European tech startups is rebounding after a slow summer, but remains unevenly spread with the UK capturing almost half of all funding, according to figures from tech.eu.
In September, European tech funding reached a record high of €15.8 billion across 300 deals, marking a significant rebound after August's modest €3.2 billion. The surge suggests European companies may soon challenge US tech dominance. UK investments accounted for half of the total, while 25 companies, including AI platform Mistral and AI infrastructure firm Nscale, raised over €100 million each.
French AI firm Mistral secured the largest deal with €3 billion in a series D round at a valuation exceeding €21 billion. Cloud computing and AI attracted 58% of the funding, followed by fintech, health tech, space, robotics, and software. The UK led fundraising with €7.3 billion, while France, Germany, the Netherlands, Spain, and Portugal rounded out the top five.
Over 11,700 investors participated in September's deals, with BPI France leading in French participation. The EU has launched multiple funding initiatives, including a €10 billion public-private AI gigafactory plan and a €70 billion TechEU Programme, all aimed at reducing reliance on US tech giants and fostering European technology sovereignty.
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