Top 10 rounds account for half of 90-day funding

In the 90 days to 21 September 2026, the ten largest rounds across Europe totalled €11.6B, or 49.4% of the €23.4B raised across 601 deals in the period — confirming that funding remains concentrated in a handful of mega-rounds rather than spread broadly. The average round size stood at €38.9M, but the median was just €4.9M, underscoring how far a small number of outsized deals pull the total above what a typical transaction looks like. The largest disclosed round was Mistral AI's €3.0B raise in France, ahead of Nscale's €2.59B round in the UK, with Helsing's €1.58B round in Germany also among the largest. Total funding of €23.4B over the period compares with €23.9B in the prior window, a decline of about 2%, even as deal count fell from 741 to 601, a drop of roughly 19%, pointing to fewer transactions rather than a proportionally smaller total.

AI-generatedWritten by an AI model from Tech.eu Funding Explorer data (2026-09-21). 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).