European startup funding Mar 2023
Monthly report · 2023-03-01 – 2023-03-31 · vs Feb 2023
Monthly
Summary
auto-generatedIn Mar 2023, 415 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €4.8B, up 42.4% versus Feb 2023. Debt rounds added a further €928M.
Deal count moved +7.2% versus Feb 2023, with 1,135 named investors participating.
UK led by equity raised with €1.9B (40.3% of equity).
Fintech was the most-funded sector at €1.2B in equity (25.3%).
The ten largest rounds accounted for 46.2% of disclosed capital, led by Abound's €564M.
77 exits were recorded this month worth a combined €2.2B.
Equity funding
€4.8B
▲ +42.4%excl. debt & grants · +€928M debt
Funding rounds
415
▲ +7.2%Companies funded
415
▲ +8.1%Named investors
1,135
▲ +15.0%Exits
77
▼ -2.5%Provenance: 86% of 415 rounds disclosed an amount · 95% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +0.28%
Methodology →Investments
Funding within Mar 2023
by dayFunding within Mar 2023 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| 01 | €156M | 19 |
| 02 | €532M | 21 |
| 03 | €38M | 10 |
| 04 | €0 | 0 |
| 05 | €0 | 0 |
| 06 | €730M | 17 |
| 07 | €353M | 23 |
| 08 | €50M | 11 |
| 09 | €179M | 24 |
| 10 | €181M | 15 |
| 11 | €0 | 0 |
| 12 | €0 | 0 |
| 13 | €81M | 17 |
| 14 | €118M | 17 |
| 15 | €421M | 18 |
| 16 | €110M | 18 |
| 17 | €25M | 11 |
| 18 | €0 | 0 |
| 19 | €0 | 0 |
| 20 | €54M | 17 |
| 21 | €680M | 28 |
| 22 | €97M | 17 |
| 23 | €252M | 23 |
| 24 | €33M | 18 |
| 25 | €0 | 0 |
| 26 | €0 | 0 |
| 27 | €78M | 12 |
| 28 | €367M | 20 |
| 29 | €98M | 13 |
| 30 | €804M | 25 |
| 31 | €342M | 21 |
Biggest deals
top 10 by amount- 1AboundOther · UK · Mar 2023€564M
- 2ConclusionOther · Netherlands · Mar 2023€410M
- 3EnpalDebt · Germany · Mar 2023€356M
- 4ArrivalOther · UK · Mar 2023€284M
- 5NetomniaDebt · UK · Mar 2023€261M
- 6eToroOther · UK · Mar 2023€232M
- 7TravelportOther · UK · Mar 2023€184M
- 8Isar AerospaceSeries C · Germany · Mar 2023€155M
- 9Prysmian GroupDebt · Italy · Mar 2023€120M
- 10Noema PharmaSeries B · Switzerland · Mar 2023€105M
Concentration
top 10 deals46.2%
of disclosed capital came from the ten largest rounds.
Top 10 total
€2.7B
Period total
€5.8B
Countries
Top countries
equity raisedMar 2023 — top countries — interactive chart.
Data table
| Mar 2023 — top countries | |
|---|---|
| UK | €1.9B |
| Germany | €736M |
| Netherlands | €497M |
| France | €481M |
| Switzerland | €276M |
| Spain | €273M |
| Sweden | €96M |
| Denmark | €90M |
| Norway | €77M |
| Estonia | €62M |
Capital by country
share of equityMar 2023 — capital by country — interactive chart.
Data table
| Mar 2023 — capital by country | |
|---|---|
| UK | €1.9B |
| Germany | €736M |
| Netherlands | €497M |
| France | €481M |
| Switzerland | €276M |
| Spain | €273M |
| Sweden | €96M |
| Denmark | €90M |
| Norway | €77M |
| Estonia | €62M |
| Other | €287M |
Geographic distribution
European countries shown · click a countryMar 2023 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedMar 2023 — top sectors — interactive chart.
Data table
| Mar 2023 — top sectors | |
|---|---|
| Fintech | €1.2B |
| Software | €924M |
| Healthtech | €482M |
| Transportation | €474M |
| Travel | €301M |
| Cleantech | €272M |
| Space | €155M |
| E-commerce | €153M |
| Energy | €131M |
| AI | €109M |
Capital by sector
share of equityMar 2023 — capital by sector — interactive chart.
Data table
| Mar 2023 — capital by sector | |
|---|---|
| Fintech | €1.2B |
| Software | €924M |
| Healthtech | €482M |
| Transportation | €474M |
| Travel | €301M |
| Cleantech | €272M |
| Space | €155M |
| E-commerce | €153M |
| Other | €1.1B |
Stages
Funding by stage
total euro raised by round typeMar 2023 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €26M |
| Seed | €205M |
| Series A | €537M |
| Series B | €432M |
| Series C | €430M |
| Series D+ | €40M |
| Growth/Late | €24M |
| Debt | €928M |
| Grant | €35M |
| Crowdfunding | €226k |
| ICO | €2.7M |
| Other | €3.1B |
Exits
Exit activity
77
exits recorded
€2.2B
combined disclosed value
Exits breakdown
by typeMar 2023 — exits by type — interactive chart.
Data table
| Mar 2023 — exits by type | |
|---|---|
| Acquisition | 76 |
| Merger | 1 |