European startup funding Q4 2018
Quarterly report · 2018-10-01 – 2018-12-31 · vs Q3 2018
Quarterly
Summary
auto-generatedIn Q4 2018, 696 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €6.8B, up 83.2% versus Q3 2018. Debt rounds added a further €30M.
Deal count moved +38.9% versus Q3 2018, with 666 named investors participating.
UK led by equity raised with €1.7B (25.3% of equity).
Software was the most-funded sector at €1.7B in equity (24.8%).
The ten largest rounds accounted for 21.1% of disclosed capital, led by Roivant Sciences's €178M.
25 exits were recorded this quarter worth a combined €2.2B.
Equity funding
€6.8B
▲ +83.2%excl. debt & grants · +€30M debt
Funding rounds
696
▲ +38.9%Companies funded
684
▲ +38.2%Named investors
666
▼ -4.9%Exits
25
▼ -51.9%Provenance: 91% of 696 rounds disclosed an amount · 62% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +0.98%
Methodology →Investments
Funding within Q4 2018
by monthFunding within Q4 2018 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| Oct | €2.1B | 244 |
| Nov | €2.7B | 225 |
| Dec | €2.0B | 227 |
Biggest deals
top 10 by amount- 1Roivant SciencesOther · Switzerland · Nov 2018€178M
- 2Ozon.ruOther · Russia · Nov 2018€177M
- 3GraphcoreSeries D+ · UK · Dec 2018€176M
- 4Acticor biotechSeries B · France · Nov 2018€153M
- 5GoEuroSeries D+ · Germany · Oct 2018€150M
- 6JFrogSeries D+ · Israel · Oct 2018€143M
- 7NestedOther · UK · Nov 2018€138M
- 8CityBeeOther · Lithuania · Dec 2018€110M
- 9Vostok ProjectSeries A · Russia · Dec 2018€105M
- 10PumaPayOther · Israel · Oct 2018€101M
Concentration
top 10 deals21.1%
of disclosed capital came from the ten largest rounds.
Top 10 total
€1.4B
Period total
€6.8B
Countries
Top countries
equity raisedQ4 2018 — top countries — interactive chart.
Data table
| Q4 2018 — top countries | |
|---|---|
| UK | €1.7B |
| Israel | €1.0B |
| France | €1.0B |
| Germany | €830M |
| Switzerland | €380M |
| Netherlands | €371M |
| Russia | €306M |
| Sweden | €227M |
| Denmark | €129M |
| Spain | €123M |
Capital by country
share of equityQ4 2018 — capital by country — interactive chart.
Data table
| Q4 2018 — capital by country | |
|---|---|
| UK | €1.7B |
| Israel | €1.0B |
| France | €1.0B |
| Germany | €830M |
| Switzerland | €380M |
| Netherlands | €371M |
| Russia | €306M |
| Sweden | €227M |
| Denmark | €129M |
| Spain | €123M |
| Other | €701M |
Geographic distribution
European countries shown · click a countryQ4 2018 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedQ4 2018 — top sectors — interactive chart.
Data table
| Q4 2018 — top sectors | |
|---|---|
| Software | €1.7B |
| Fintech | €1.3B |
| Healthtech | €1.0B |
| Transportation | €721M |
| Semiconductors | €354M |
| Cybersecurity | €339M |
| E-commerce | €301M |
| Travel | €290M |
| Marketing | €263M |
| Proptech | €245M |
Capital by sector
share of equityQ4 2018 — capital by sector — interactive chart.
Data table
| Q4 2018 — capital by sector | |
|---|---|
| Software | €1.7B |
| Fintech | €1.3B |
| Healthtech | €1.0B |
| Transportation | €721M |
| Semiconductors | €354M |
| Cybersecurity | €339M |
| E-commerce | €301M |
| Travel | €290M |
| Other | €2.5B |
Stages
Funding by stage
total euro raised by round typeQ4 2018 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €1.4M |
| Seed | €424M |
| Series A | €1.0B |
| Series B | €1.1B |
| Series C | €699M |
| Series D+ | €856M |
| Early VC | €19M |
| Growth/Late | €33M |
| Debt | €30M |
| Grant | €6.3M |
| Other | €2.7B |
Exits
Exit activity
25
exits recorded
€2.2B
combined disclosed value
Exits breakdown
by typeQ4 2018 — exits by type — interactive chart.
Data table
| Q4 2018 — exits by type | |
|---|---|
| Acquisition | 24 |
| Merger | 1 |