Armenia startup funding
European tech funding profile
7 startups in Armenia have closed 9 funding rounds and raised €113M in equity funding (excluding debt and grants). Consumer is the most active sector, and Index Ventures is the most active investor. Data as of 6 Nov 2026.
#38 in Europe by equity raised — 0.0% of all European startup equity funding.
Equity funding
€113M
excl. debt & grants
Funding rounds
9
Companies
7
Named investors
23
Exits
0
Funding over time
2010–2026 · 2026 YTD — equity € raised vs roundsArmenia — funding over time — interactive chart.
Data table
| Equity | Rounds | |
|---|---|---|
| 2017 | €2.6M | 1 |
| 2021 | €69M | 3 |
| 2022 | €2.2M | 1 |
| 2023 | €1.4M | 1 |
| 2024 | €18M | 1 |
Top performing sectors
by € raised| Software | €63M | |
| HRtech | €42M | |
| Edtech | €20M | |
| Cybersecurity | €20M | |
| Consumer | €20M | |
| AI | €6.0M |
Fastest growing sectors
2025 vs 2024 by € raisedNot enough 2024–2025 data to rank growth.
Top sectors
by deal countArmenia — top sectors — interactive chart.
Data table
| Armenia — top sectors | |
|---|---|
| Consumer | 2 |
| Cybersecurity | 2 |
| Software | 2 |
| AI | 1 |
| E-commerce | 1 |
| Edtech | 1 |
| Foodtech | 1 |
| HRtech | 1 |
| Media | 1 |
Stage mix
by € raisedArmenia — stage mix — interactive chart.
Data table
| Armenia — stage mix | |
|---|---|
| Series C | €42M |
| Series B | €20M |
| Series A | €18M |
| Growth/Late | €15M |
| Other | €8.6M |
| Early VC | €5.0M |
| Seed | €3.7M |
Top deals
largest disclosed roundsTop investors
named, by deal count| Index Ventures | 2 |
| Formula VC | 2 |
| AI Fund | 1 |
| BANA | 1 |
| Banexi Ventures | 1 |
| Big Story VC | 1 |
| Drive Capital | 1 |
| Granatus Ventures | 1 |
| Hayastan 1 | 1 |
| Headline | 1 |
Top cities
by € raised| Yerevan | €46M | 5 |