European startup funding May 2023
Monthly report · 2023-05-01 – 2023-05-31 · vs Apr 2023
Monthly
Summary
auto-generatedIn May 2023, 361 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €3.5B, up 13.0% versus Apr 2023. Debt rounds added a further €728M.
Deal count moved -3.0% versus Apr 2023, with 908 named investors participating.
Germany led by equity raised with €868M (24.7% of equity).
Healthtech was the most-funded sector at €582M in equity (16.6%).
The ten largest rounds accounted for 44.0% of disclosed capital, led by Low Carbon's €357M.
78 exits were recorded this month worth a combined €2.0B.
Equity funding
€3.5B
▲ +13.0%excl. debt & grants · +€728M debt
Funding rounds
361
▼ -3.0%Companies funded
359
▼ -3.2%Named investors
908
▲ +0.0%Exits
78
▲ +23.8%Leading country
€868M
24.7% of equity
Leading sector
€582M
16.6% of equity
Provenance: 84% of 361 rounds disclosed an amount · 96% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within -0.04%
Methodology →Investments
Funding within May 2023
by dayFunding within May 2023 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| 01 | €18M | 3 |
| 02 | €104M | 25 |
| 03 | €265M | 29 |
| 04 | €44M | 13 |
| 05 | €36M | 11 |
| 06 | €0 | 0 |
| 07 | €0 | 0 |
| 08 | €7.0M | 2 |
| 09 | €362M | 26 |
| 10 | €461M | 20 |
| 11 | €532M | 25 |
| 12 | €19M | 8 |
| 13 | €0 | 0 |
| 14 | €0 | 0 |
| 15 | €130M | 15 |
| 16 | €86M | 13 |
| 17 | €225M | 19 |
| 18 | €468M | 16 |
| 19 | €15M | 5 |
| 20 | €0 | 0 |
| 21 | €0 | 0 |
| 22 | €172M | 21 |
| 23 | €313M | 13 |
| 24 | €132M | 21 |
| 25 | €77M | 16 |
| 26 | €187M | 12 |
| 27 | €0 | 0 |
| 28 | €0 | 0 |
| 29 | €52M | 13 |
| 30 | €115M | 10 |
| 31 | €440M | 25 |
Biggest deals
top 10 by amount- 1Low CarbonDebt · UK · May 2023€357M
- 2AT&SDebt · Austria · May 2023€250M
- 3DrivecoOther · France · May 2023€250M
- 4Builder.aiSeries D+ · UK · May 2023€232M
- 5HostawayGrowth/Late · Finland · May 2023€164M
- 6FlinkOther · Germany · May 2023€150M
- 7JOLT EnergyOther · Germany · May 2023€150M
- 8AscendOther · UK · May 2023€121M
- 9Patient21Series C · Germany · May 2023€100M
- 10LiliumOther · Germany · May 2023€100M
Concentration
top 10 deals44.0%
of disclosed capital came from the ten largest rounds.
Top 10 total
€1.9B
Period total
€4.3B
Countries
Top countries
equity raisedMay 2023 — top countries — interactive chart.
Data table
| May 2023 — top countries | |
|---|---|
| Germany | €868M |
| UK | €845M |
| France | €595M |
| Finland | €195M |
| Ireland | €181M |
| Switzerland | €181M |
| Sweden | €174M |
| Netherlands | €118M |
| Spain | €101M |
| Italy | €88M |
Capital by country
share of equityMay 2023 — capital by country — interactive chart.
Data table
| May 2023 — capital by country | |
|---|---|
| Germany | €868M |
| UK | €845M |
| France | €595M |
| Finland | €195M |
| Ireland | €181M |
| Switzerland | €181M |
| Sweden | €174M |
| Netherlands | €118M |
| Spain | €101M |
| Italy | €88M |
| Other | €167M |
Geographic distribution
European countries shown · click a countryMay 2023 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedMay 2023 — top sectors — interactive chart.
Data table
| May 2023 — top sectors | |
|---|---|
| Healthtech | €582M |
| Software | €579M |
| Transportation | €421M |
| Fintech | €400M |
| E-commerce | €350M |
| Energy | €296M |
| Travel | €201M |
| Robotics | €96M |
| Cleantech | €92M |
| Foodtech | €87M |
Capital by sector
share of equityMay 2023 — capital by sector — interactive chart.
Data table
| May 2023 — capital by sector | |
|---|---|
| Healthtech | €582M |
| Software | €579M |
| Transportation | €421M |
| Fintech | €400M |
| E-commerce | €350M |
| Energy | €296M |
| Travel | €201M |
| Robotics | €96M |
| Other | €638M |
Stages
Funding by stage
total euro raised by round typeMay 2023 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €45M |
| Seed | €153M |
| Series A | €462M |
| Series B | €351M |
| Series C | €130M |
| Series D+ | €369M |
| Early VC | €1.6M |
| Growth/Late | €191M |
| Debt | €728M |
| Grant | €21M |
| Crowdfunding | €42M |
| Other | €1.8B |
Exits
Exit activity
78
exits recorded
€2.0B
combined disclosed value
Exits breakdown
by typeMay 2023 — exits by type — interactive chart.
Data table
| May 2023 — exits by type | |
|---|---|
| Acquisition | 72 |
| Merger | 5 |
| Buyout | 1 |