Total capital raised declines 13.5% period over period
90 days to 2026-10-23
Total recorded funding fell from €28.25B in the 90-day window ending in prior comparison to €24.44B in the 90 days to 23 October 2026, a decline of 13.5%. Deal count also dropped, from 738 to 644 rounds, a decrease of 12.7%, with the average round sitting at €38M and the median at just €5M, underscoring how concentrated the remaining capital has become. The six largest rounds of the recent window alone total €10.08B, equivalent to 41.3% of the entire 90-day figure, led by Mistral AI in France at €3.0B and two Nscale rounds in the UK totalling €5.54B. Beyond these top six, smaller but still sizeable rounds appear in Spain (ID Finance, €545M), Portugal (TEKEVER, €508M) and Sweden (Legora, €490M), none approaching the scale of the top three. More broadly, the ten largest rounds across the window account for €11.73B, or 48% of total recorded funding, confirming that a small number of outsized deals continue to shape the overall figure even as overall activity declines.
Explore the market trends →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).