Average round nearly 7.5 times the median

The average round size over the 90 days to 16 October 2026 stands at €37.3M against a median of €5M, a gap of 7.5x that points to a distribution shaped by a small number of large deals rather than broadly large raises across the market. The biggest rounds of the window illustrate the shape of that distribution: Mistral AI's €3.0B round in France and Nscale's two UK rounds of €2.953B and €2.588B rank among the largest, well ahead of other sizeable raises such as ID Finance's €545M in Spain, TEKEVER's €508M in Portugal and Wonderful's €475M in the Netherlands.

Across the full market, the top 10 rounds total €11.634B, accounting for 49.1% of the €23.71B raised in the period, indicating that a large share of the recent total sits in a limited number of transactions. With 636 deals recorded in the window, the gap between the €37.3M average and the €5M median round confirms that most individual raises fall well below the average, which is pulled upward by the small number of very large deals rather than by a broad base of large rounds.

AI-generatedWritten by an AI model from Tech.eu Funding Explorer data (2026-10-18). 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).