Six largest rounds alone total €9.6B

The six largest rounds of the 90 days to 11 September 2026 total €9.62B, equal to about 41% of the €23.3B raised across the full period. Mistral AI's €3.0B round in France leads the list, followed by two Nscale rounds in the UK (€2.59B and €787M) that together give the company €3.38B across the window, ahead of Germany's Helsing at €1.58B and Quantum Systems at €1.05B, and Sweden's Neko Health at €614M. Nscale's two rounds combined account for about 35% of the six-company total.

These six deals sit within a broader top-ten cohort that raised €11.66B, or 50% of the period's volume, underscoring how concentrated at the very top European funding remains. With 619 deals recorded in the window against an average round size of €37.6M and a median of just €4.9M, the gap between the mega-rounds and the typical deal is stark: a handful of AI, defence and health-tech companies in France, the UK, Germany and Sweden account for a disproportionate share of the €23.3B total.

AI-generatedWritten by an AI model from Tech.eu Funding Explorer data (2026-09-14). 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).