European startup funding Sep 2023
Monthly report · 2023-09-01 – 2023-09-30 · vs Aug 2023
Monthly
Summary
auto-generatedIn Sep 2023, 399 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €15B, up 190.0% versus Aug 2023. Debt rounds added a further €1.5B.
Deal count moved +26.7% versus Aug 2023, with 1,069 named investors participating.
UK led by equity raised with €8.0B (53.4% of equity).
Semiconductors was the most-funded sector at €4.9B in equity (33.0%).
The ten largest rounds accounted for 75.8% of disclosed capital, led by Arm's €4.7B.
62 exits were recorded this month worth a combined €117M.
Equity funding
€15B
▲ +190.0%excl. debt & grants · +€1.5B debt
Funding rounds
399
▲ +26.7%Companies funded
399
▲ +27.5%Named investors
1,069
▲ +57.4%Exits
62
▼ -29.5%Leading country
€8.0B
53.4% of equity
Leading sector
€4.9B
33.0% of equity
Provenance: 84% of 399 rounds disclosed an amount · 97% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within -0.01%
Methodology →Investments
Funding within Sep 2023
by dayFunding within Sep 2023 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| 01 | €15M | 7 |
| 02 | €0 | 0 |
| 03 | €0 | 0 |
| 04 | €417M | 13 |
| 05 | €472M | 28 |
| 06 | €1.1B | 17 |
| 07 | €2.6B | 22 |
| 08 | €361M | 16 |
| 09 | €0 | 0 |
| 10 | €0 | 0 |
| 11 | €698M | 23 |
| 12 | €147M | 22 |
| 13 | €141M | 17 |
| 14 | €2.6B | 23 |
| 15 | €5.2B | 17 |
| 16 | €0 | 0 |
| 17 | €0 | 0 |
| 18 | €133M | 25 |
| 19 | €168M | 23 |
| 20 | €461M | 26 |
| 21 | €1.2B | 19 |
| 22 | €13M | 8 |
| 23 | €0 | 0 |
| 24 | €0 | 0 |
| 25 | €94M | 13 |
| 26 | €151M | 18 |
| 27 | €201M | 24 |
| 28 | €306M | 30 |
| 29 | €9.7M | 8 |
| 30 | €0 | 0 |
Biggest deals
top 10 by amount- 1ArmOther · UK · Sep 2023€4.7B
- 2VerkorSeries C · France · Sep 2023€2.0B
- 3Stegra (H2 Green Steel)Other · Sweden · Sep 2023€1.5B
- 4Zenobe EnergyOther · UK · Sep 2023€1.0B
- 5WayflyerOther · Ireland · Sep 2023€931M
- 6ThinCatsDebt · UK · Sep 2023€807M
- 7ConigitalSeries A · UK · Sep 2023€584M
- 8IGNISDebt · Spain · Sep 2023€335M
- 9Butternut BoxOther · UK · Sep 2023€327M
- 10CommifyOther · UK · Sep 2023€300M
Concentration
top 10 deals75.8%
of disclosed capital came from the ten largest rounds.
Top 10 total
€12B
Period total
€16B
Countries
Top countries
equity raisedSep 2023 — top countries — interactive chart.
Data table
| Sep 2023 — top countries | |
|---|---|
| UK | €8.0B |
| France | €2.5B |
| Sweden | €1.6B |
| Ireland | €941M |
| Germany | €592M |
| Netherlands | €308M |
| Spain | €263M |
| Switzerland | €236M |
| Lithuania | €104M |
| Norway | €85M |
Capital by country
share of equitySep 2023 — capital by country — interactive chart.
Data table
| Sep 2023 — capital by country | |
|---|---|
| UK | €8.0B |
| France | €2.5B |
| Sweden | €1.6B |
| Ireland | €941M |
| Germany | €592M |
| Netherlands | €308M |
| Spain | €263M |
| Switzerland | €236M |
| Lithuania | €104M |
| Norway | €85M |
| Other | €410M |
Geographic distribution
European countries shown · click a countrySep 2023 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedSep 2023 — top sectors — interactive chart.
Data table
| Sep 2023 — top sectors | |
|---|---|
| Semiconductors | €4.9B |
| Energy | €3.7B |
| Cleantech | €1.7B |
| E-commerce | €1.0B |
| Transportation | €857M |
| Telecom | €436M |
| Healthtech | €390M |
| Software | €366M |
| Fintech | €358M |
| AI | €349M |
Capital by sector
share of equitySep 2023 — capital by sector — interactive chart.
Data table
| Sep 2023 — capital by sector | |
|---|---|
| Semiconductors | €4.9B |
| Energy | €3.7B |
| Cleantech | €1.7B |
| E-commerce | €1.0B |
| Transportation | €857M |
| Telecom | €436M |
| Healthtech | €390M |
| Software | €366M |
| Other | €1.8B |
Stages
Funding by stage
total euro raised by round typeSep 2023 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €28M |
| Seed | €168M |
| Series A | €1.0B |
| Series B | €477M |
| Series C | €2.3B |
| Series D+ | €118M |
| Debt | €1.5B |
| Grant | €4.4M |
| Crowdfunding | €460k |
| Other | €11B |
Exits
Exit activity
62
exits recorded
€117M
combined disclosed value
Exits breakdown
by typeSep 2023 — exits by type — interactive chart.
Data table
| Sep 2023 — exits by type | |
|---|---|
| Acquisition | 60 |
| Merger | 2 |