European startup funding Q3 2022
Quarterly report · 2022-07-01 – 2022-09-30 · vs Q2 2022
Quarterly
Summary
auto-generatedIn Q3 2022, 1,179 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €16B, down 31.5% versus Q2 2022. Debt rounds added a further €5.2B.
Deal count moved -10.5% versus Q2 2022, with 2,680 named investors participating.
UK led by equity raised with €4.5B (28.5% of equity).
Fintech was the most-funded sector at €3.6B in equity (22.5%).
The ten largest rounds accounted for 26.6% of disclosed capital, led by Northvolt's €1.1B.
235 exits were recorded this quarter worth a combined €48B.
Equity funding
€16B
▼ -31.5%excl. debt & grants · +€5.2B debt
Funding rounds
1,179
▼ -10.5%Companies funded
1,161
▼ -10.7%Named investors
2,680
▼ -12.0%Exits
235
▲ +11.4%Provenance: 88% of 1,179 rounds disclosed an amount · 92% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within -0.07%
Methodology →Investments
Funding within Q3 2022
by monthFunding within Q3 2022 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| Jul | €9.5B | 404 |
| Aug | €5.1B | 326 |
| Sep | €6.7B | 449 |
Biggest deals
top 10 by amount- 1NorthvoltDebt · Sweden · Jul 2022€1.1B
- 2KlarnaOther · Sweden · Jul 2022€792M
- 3CelonisDebt · Germany · Aug 2022€604M
- 4Propel FinanceDebt · UK · Aug 2022€593M
- 5Octopus EnergyOther · UK · Jul 2022€542M
- 6AuxmoneyDebt · Germany · Aug 2022€500M
- 7CelonisOther · Germany · Aug 2022€403M
- 8WefoxSeries D+ · Germany · Jul 2022€396M
- 9ContentSquareSeries D+ · France · Jul 2022€392M
- 10Bending SpoonsOther · Italy · Sep 2022€355M
Concentration
top 10 deals26.6%
of disclosed capital came from the ten largest rounds.
Top 10 total
€5.6B
Period total
€21B
Countries
Top countries
equity raisedQ3 2022 — top countries — interactive chart.
Data table
| Q3 2022 — top countries | |
|---|---|
| UK | €4.5B |
| France | €2.5B |
| Germany | €2.4B |
| Sweden | €1.7B |
| Italy | €848M |
| Switzerland | €723M |
| Spain | €613M |
| Netherlands | €462M |
| Estonia | €263M |
| Belgium | €254M |
Capital by country
share of equityQ3 2022 — capital by country — interactive chart.
Data table
| Q3 2022 — capital by country | |
|---|---|
| UK | €4.5B |
| France | €2.5B |
| Germany | €2.4B |
| Sweden | €1.7B |
| Italy | €848M |
| Switzerland | €723M |
| Spain | €613M |
| Netherlands | €462M |
| Estonia | €263M |
| Belgium | €254M |
| Other | €1.6B |
Geographic distribution
European countries shown · click a countryQ3 2022 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedQ3 2022 — top sectors — interactive chart.
Data table
| Q3 2022 — top sectors | |
|---|---|
| Fintech | €3.6B |
| Software | €2.9B |
| Energy | €2.1B |
| Healthtech | €1.8B |
| Transportation | €1.2B |
| Cleantech | €868M |
| Media | €802M |
| Marketing | €747M |
| E-commerce | €553M |
| Agritech | €363M |
Capital by sector
share of equityQ3 2022 — capital by sector — interactive chart.
Data table
| Q3 2022 — capital by sector | |
|---|---|
| Fintech | €3.6B |
| Software | €2.9B |
| Energy | €2.1B |
| Healthtech | €1.8B |
| Transportation | €1.2B |
| Cleantech | €868M |
| Media | €802M |
| Marketing | €747M |
| Other | €4.0B |
Stages
Funding by stage
total euro raised by round typeQ3 2022 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €105M |
| Seed | €694M |
| Series A | €2.0B |
| Series B | €1.9B |
| Series C | €496M |
| Series D+ | €1.5B |
| Early VC | €3.8M |
| Growth/Late | €109M |
| Debt | €5.2B |
| Grant | €209M |
| Crowdfunding | €23M |
| ICO | €5.3M |
| Other | €8.9B |
Exits
Exit activity
235
exits recorded
€48B
combined disclosed value
Exits breakdown
by typeQ3 2022 — exits by type — interactive chart.
Data table
| Q3 2022 — exits by type | |
|---|---|
| Acquisition | 220 |
| Merger | 11 |
| Unknown | 1 |
| Buyout | 1 |
| IPO | 1 |
| Management buyout | 1 |