European startup funding Dec 2023
Monthly report · 2023-12-01 – 2023-12-31 · vs Nov 2023
Monthly
Summary
auto-generatedIn Dec 2023, 297 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €7.3B, up 49.5% versus Nov 2023. Debt rounds added a further €1.7B.
Deal count moved -19.1% versus Nov 2023, with 714 named investors participating.
Norway led by equity raised with €3.0B (41.2% of equity).
Software was the most-funded sector at €3.4B in equity (47.1%).
The ten largest rounds accounted for 77.6% of disclosed capital, led by Visma's €3.0B.
54 exits were recorded this month worth a combined €4.3B.
Equity funding
€7.3B
▲ +49.5%excl. debt & grants · +€1.7B debt
Funding rounds
297
▼ -19.1%Companies funded
297
▼ -18.6%Named investors
714
▼ -26.2%Exits
54
▲ +0.0%Provenance: 86% of 297 rounds disclosed an amount · 97% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within -0.04%
Methodology →Investments
Funding within Dec 2023
by dayFunding within Dec 2023 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| 01 | €53M | 7 |
| 02 | €0 | 0 |
| 03 | €0 | 0 |
| 04 | €55M | 20 |
| 05 | €252M | 20 |
| 06 | €341M | 17 |
| 07 | €323M | 22 |
| 08 | €12M | 14 |
| 09 | €0 | 0 |
| 10 | €0 | 0 |
| 11 | €747M | 17 |
| 12 | €332M | 22 |
| 13 | €102M | 19 |
| 14 | €279M | 27 |
| 15 | €22M | 10 |
| 16 | €0 | 0 |
| 17 | €0 | 0 |
| 18 | €191M | 15 |
| 19 | €1.2B | 19 |
| 20 | €1.1B | 18 |
| 21 | €3.8B | 23 |
| 22 | €58M | 11 |
| 23 | €0 | 0 |
| 24 | €0 | 0 |
| 25 | €0 | 0 |
| 26 | €5.1M | 4 |
| 27 | €37M | 3 |
| 28 | €23M | 4 |
| 29 | €25M | 5 |
| 30 | €0 | 0 |
| 31 | €0 | 0 |
Biggest deals
top 10 by amount- 1VismaOther · Norway · Dec 2023€3.0B
- 2NorthvoltDebt · Sweden · Dec 2023€1.1B
- 3Octopus EnergyOther · UK · Dec 2023€800M
- 4PlenitudeOther · Italy · Dec 2023€500M
- 5Mistral AISeries A · France · Dec 2023€385M
- 6UpdraftDebt · UK · Dec 2023€316M
- 7SumUpGrowth/Late · UK · Dec 2023€285M
- 8PragmaticSeries D+ · UK · Dec 2023€213M
- 9TOPdeskOther · Netherlands · Dec 2023€200M
- 10EnpalOther · Germany · Dec 2023€160M
Concentration
top 10 deals77.6%
of disclosed capital came from the ten largest rounds.
Top 10 total
€7.0B
Period total
€9.0B
Countries
Top countries
equity raisedDec 2023 — top countries — interactive chart.
Data table
| Dec 2023 — top countries | |
|---|---|
| Norway | €3.0B |
| UK | €1.5B |
| France | €834M |
| Germany | €528M |
| Italy | €525M |
| Netherlands | €373M |
| Switzerland | €86M |
| Spain | €83M |
| Denmark | €77M |
| Portugal | €44M |
Capital by country
share of equityDec 2023 — capital by country — interactive chart.
Data table
| Dec 2023 — capital by country | |
|---|---|
| Norway | €3.0B |
| UK | €1.5B |
| France | €834M |
| Germany | €528M |
| Italy | €525M |
| Netherlands | €373M |
| Switzerland | €86M |
| Spain | €83M |
| Denmark | €77M |
| Portugal | €44M |
| Other | €201M |
Geographic distribution
European countries shown · click a countryDec 2023 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedDec 2023 — top sectors — interactive chart.
Data table
| Dec 2023 — top sectors | |
|---|---|
| Software | €3.4B |
| Energy | €1.6B |
| Fintech | €592M |
| AI | €419M |
| Healthtech | €228M |
| Semiconductors | €213M |
| Cleantech | €192M |
| Transportation | €127M |
| Sports | €102M |
| Media | €65M |
Capital by sector
share of equityDec 2023 — capital by sector — interactive chart.
Data table
| Dec 2023 — capital by sector | |
|---|---|
| Software | €3.4B |
| Energy | €1.6B |
| Fintech | €592M |
| AI | €419M |
| Healthtech | €228M |
| Semiconductors | €213M |
| Cleantech | €192M |
| Transportation | €127M |
| Other | €493M |
Stages
Funding by stage
total euro raised by round typeDec 2023 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €37M |
| Seed | €141M |
| Series A | €651M |
| Series B | €194M |
| Series C | €29M |
| Series D+ | €228M |
| Growth/Late | €387M |
| Debt | €1.7B |
| Grant | €11M |
| Crowdfunding | €7.0M |
| Other | €5.6B |
Exits
Exit activity
54
exits recorded
€4.3B
combined disclosed value
Exits breakdown
by typeDec 2023 — exits by type — interactive chart.
Data table
| Dec 2023 — exits by type | |
|---|---|
| Acquisition | 53 |
| Merger | 1 |