Average round size nearly eight times the median

The average European round in the 90 days to 23 October 2026 stands at €38M, while the median round is just €5M — meaning the average is 7.6 times the typical deal. This gap reflects a distribution shaped by a handful of outsized transactions rather than broad-based large financings. Among the biggest rounds in the window, Mistral AI's €3.0B round in France and Nscale's €2.95B round in the UK together total €5.95B. The top 10 rounds combined reach €11.73B, representing 48% of the period's combined round value, showing how concentrated capital deployment has become. Total disclosed round value across the window reached €24.44B, down from €28.25B in the prior 90-day period, a decline of about 13%, even as deal count fell from 738 to 644. With a small number of very large rounds pulling the average far above what most companies actually raise, the median remains the more representative measure of typical deal size across the market.

AI-generatedWritten by an AI model from Tech.eu Funding Explorer data (2026-10-26). Figures are checked against the underlying data and each draft is reviewed by an independent second model before publishing; anything unverifiable is held back. Not investment advice. Labelled for AI transparency (EU AI Act Art. 50, applicable from 2 Aug 2026).