European startup funding Oct 2023
Monthly report · 2023-10-01 – 2023-10-31 · vs Sep 2023
Monthly
Summary
auto-generatedIn Oct 2023, 390 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €2.5B, down 83.2% versus Sep 2023. Debt rounds added a further €898M.
Deal count moved -2.3% versus Sep 2023, with 1,053 named investors participating.
Germany led by equity raised with €515M (20.5% of equity).
Energy was the most-funded sector at €467M in equity (18.6%).
The ten largest rounds accounted for 38.2% of disclosed capital, led by iwoca's €230M.
68 exits were recorded this month worth a combined €2.6B.
Equity funding
€2.5B
▼ -83.2%excl. debt & grants · +€898M debt
Funding rounds
390
▼ -2.3%Companies funded
390
▼ -2.3%Named investors
1,053
▼ -1.5%Exits
68
▲ +9.7%Provenance: 87% of 390 rounds disclosed an amount · 95% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +0.00%
Methodology →Investments
Funding within Oct 2023
by dayFunding within Oct 2023 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| 01 | €1.0M | 1 |
| 02 | €55M | 10 |
| 03 | €96M | 19 |
| 04 | €185M | 15 |
| 05 | €105M | 18 |
| 06 | €85M | 16 |
| 07 | €0 | 0 |
| 08 | €0 | 0 |
| 09 | €228M | 22 |
| 10 | €131M | 19 |
| 11 | €194M | 20 |
| 12 | €202M | 22 |
| 13 | €246M | 15 |
| 14 | €0 | 0 |
| 15 | €0 | 0 |
| 16 | €282M | 18 |
| 17 | €304M | 20 |
| 18 | €132M | 24 |
| 19 | €297M | 20 |
| 20 | €104M | 18 |
| 21 | €0 | 0 |
| 22 | €0 | 0 |
| 23 | €56M | 19 |
| 24 | €138M | 19 |
| 25 | €42M | 21 |
| 26 | €50M | 12 |
| 27 | €234M | 13 |
| 28 | €0 | 0 |
| 29 | €0 | 0 |
| 30 | €136M | 13 |
| 31 | €122M | 16 |
Biggest deals
top 10 by amount- 1iwocaDebt · UK · Oct 2023€230M
- 2UncappedDebt · UK · Oct 2023€230M
- 3NumbatOther · Germany · Oct 2023€140M
- 4EranovumDebt · Spain · Oct 2023€132M
- 5ITS Technology GroupDebt · UK · Oct 2023€115M
- 6Skeleton TechnologiesDebt · Estonia · Oct 2023€108M
- 7ScatecOther · Norway · Oct 2023€96M
- 8Agomab TherapeuticsSeries C · Belgium · Oct 2023€95M
- 9AiraOther · Sweden · Oct 2023€86M
- 10SecureW2Other · Netherlands · Oct 2023€76M
Concentration
top 10 deals38.2%
of disclosed capital came from the ten largest rounds.
Top 10 total
€1.3B
Period total
€3.4B
Countries
Top countries
equity raisedOct 2023 — top countries — interactive chart.
Data table
| Oct 2023 — top countries | |
|---|---|
| Germany | €515M |
| UK | €403M |
| France | €293M |
| Sweden | €232M |
| Netherlands | €186M |
| Spain | €138M |
| Switzerland | €134M |
| Belgium | €115M |
| Norway | €110M |
| Denmark | €78M |
Capital by country
share of equityOct 2023 — capital by country — interactive chart.
Data table
| Oct 2023 — capital by country | |
|---|---|
| Germany | €515M |
| UK | €403M |
| France | €293M |
| Sweden | €232M |
| Netherlands | €186M |
| Spain | €138M |
| Switzerland | €134M |
| Belgium | €115M |
| Norway | €110M |
| Denmark | €78M |
| Other | €309M |
Geographic distribution
European countries shown · click a countryOct 2023 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedOct 2023 — top sectors — interactive chart.
Data table
| Oct 2023 — top sectors | |
|---|---|
| Energy | €467M |
| Fintech | €433M |
| Healthtech | €309M |
| Software | €208M |
| Cleantech | €131M |
| Robotics | €129M |
| Cybersecurity | €123M |
| Transportation | €94M |
| Foodtech | €86M |
| AI | €75M |
Capital by sector
share of equityOct 2023 — capital by sector — interactive chart.
Data table
| Oct 2023 — capital by sector | |
|---|---|
| Energy | €467M |
| Fintech | €433M |
| Healthtech | €309M |
| Software | €208M |
| Cleantech | €131M |
| Robotics | €129M |
| Cybersecurity | €123M |
| Transportation | €94M |
| Other | €687M |
Stages
Funding by stage
total euro raised by round typeOct 2023 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €38M |
| Seed | €243M |
| Series A | €366M |
| Series B | €200M |
| Series C | €145M |
| Early VC | €1.0M |
| Debt | €898M |
| Grant | €13M |
| Crowdfunding | €10M |
| Other | €1.5B |
Exits
Exit activity
68
exits recorded
€2.6B
combined disclosed value
Exits breakdown
by typeOct 2023 — exits by type — interactive chart.
Data table
| Oct 2023 — exits by type | |
|---|---|
| Acquisition | 66 |
| Buyout | 1 |
| Merger | 1 |