European startup funding Q3 2017
Quarterly report · 2017-07-01 – 2017-09-30 · vs Q2 2017
Quarterly
Summary
auto-generatedIn Q3 2017, 881 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €7.2B, down 18.4% versus Q2 2017.
Deal count moved -23.4% versus Q2 2017, with 1,279 named investors participating.
UK led by equity raised with €1.9B (26.4% of equity).
Healthtech was the most-funded sector at €1.5B in equity (20.9%).
The ten largest rounds accounted for 36.9% of disclosed capital, led by Roivant Sciences's €938M.
171 exits were recorded this quarter worth a combined €5.0B.
Equity funding
€7.2B
▼ -18.4%excl. debt & grants
Funding rounds
881
▼ -23.4%Companies funded
860
▼ -22.4%Named investors
1,279
▼ -16.1%Exits
171
▲ +14.8%Leading country
€1.9B
26.4% of equity
Leading sector
€1.5B
20.9% of equity
Provenance: 89% of 881 rounds disclosed an amount · 59% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within -5.42%
Methodology →Investments
Funding within Q3 2017
by monthFunding within Q3 2017 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| Jul | €1.9B | 306 |
| Aug | €2.8B | 242 |
| Sep | €2.4B | 333 |
Biggest deals
top 10 by amount- 1Roivant SciencesGrowth/Late · Switzerland · Aug 2017€938M
- 2Delivery HeroOther · Germany · Aug 2017€656M
- 3DeliverooSeries D+ · UK · Aug 2017€328M
- 4ViaOther · Israel · Sep 2017€213M
- 5NeyberOther · UK · Sep 2017€125M
- 6HyperopticOther · UK · Aug 2017€85M
- 7Grupa PracujOther · Poland · Sep 2017€80M
- 8Lilium AviationSeries B · Germany · Jul 2017€77M
- 9ForgeRockSeries D+ · Norway · Aug 2017€75M
- 10WalkMeSeries D+ · Israel · Jul 2017€66M
Concentration
top 10 deals36.9%
of disclosed capital came from the ten largest rounds.
Top 10 total
€2.6B
Period total
€7.2B
Countries
Top countries
equity raisedQ3 2017 — top countries — interactive chart.
Data table
| Q3 2017 — top countries | |
|---|---|
| UK | €1.9B |
| Germany | €1.1B |
| Switzerland | €1.1B |
| Israel | €1.0B |
| France | €814M |
| Sweden | €210M |
| Norway | €154M |
| Austria | €129M |
| Spain | €126M |
| Finland | €120M |
Capital by country
share of equityQ3 2017 — capital by country — interactive chart.
Data table
| Q3 2017 — capital by country | |
|---|---|
| UK | €1.9B |
| Germany | €1.1B |
| Switzerland | €1.1B |
| Israel | €1.0B |
| France | €814M |
| Sweden | €210M |
| Norway | €154M |
| Austria | €129M |
| Spain | €126M |
| Finland | €120M |
| Other | €539M |
Geographic distribution
European countries shown · click a countryQ3 2017 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedQ3 2017 — top sectors — interactive chart.
Data table
| Q3 2017 — top sectors | |
|---|---|
| Healthtech | €1.5B |
| Software | €1.3B |
| E-commerce | €1.1B |
| Foodtech | €1.1B |
| Fintech | €885M |
| Transportation | €732M |
| Cybersecurity | €387M |
| Hardware | €301M |
| Marketing | €267M |
| Consumer | €235M |
Capital by sector
share of equityQ3 2017 — capital by sector — interactive chart.
Data table
| Q3 2017 — capital by sector | |
|---|---|
| Healthtech | €1.5B |
| Software | €1.3B |
| E-commerce | €1.1B |
| Foodtech | €1.1B |
| Fintech | €885M |
| Transportation | €732M |
| Cybersecurity | €387M |
| Hardware | €301M |
| Other | €2.5B |
Stages
Funding by stage
total euro raised by round typeQ3 2017 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Seed | €213M |
| Series A | €663M |
| Series B | €824M |
| Series C | €390M |
| Series D+ | €871M |
| Early VC | €36M |
| Growth/Late | €938M |
| Grant | €1.6M |
| Other | €3.2B |
Exits
Exit activity
171
exits recorded
€5.0B
combined disclosed value
Exits breakdown
by typeQ3 2017 — exits by type — interactive chart.
Data table
| Q3 2017 — exits by type | |
|---|---|
| Acquisition | 138 |
| ICO | 14 |
| IPO | 12 |
| Merger | 6 |
| Pre-ico | 1 |