European startup funding 2024
Annual report · 2024-01-01 – 2024-12-31 · vs 2023
Annual
Summary
auto-generatedIn 2024, 3,751 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €48B, down 19.3% versus 2023. Debt rounds added a further €25B.
Deal count moved -16.1% versus 2023, with 6,561 named investors participating.
UK led by equity raised with €12B (25.3% of equity).
Software was the most-funded sector at €6.8B in equity (14.3%).
The ten largest rounds accounted for 29.8% of disclosed capital, led by Northvolt's €4.6B.
654 exits were recorded this year worth a combined €35B.
Equity funding
€48B
▼ -19.3%excl. debt & grants · +€25B debt
Funding rounds
3,751
▼ -16.1%Companies funded
3,579
▼ -15.8%Named investors
6,561
▼ -14.9%Exits
654
▼ -25.4%Provenance: 87% of 3,751 rounds disclosed an amount · 96% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +0.02%
Methodology →Investments
Funding within 2024
by monthFunding within 2024 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| Jan | €17B | 340 |
| Feb | €8.5B | 335 |
| Mar | €4.5B | 306 |
| Apr | €3.7B | 330 |
| May | €11B | 316 |
| Jun | €5.7B | 331 |
| Jul | €5.0B | 342 |
| Aug | €1.9B | 204 |
| Sep | €4.2B | 348 |
| Oct | €4.5B | 319 |
| Nov | €5.2B | 339 |
| Dec | €4.2B | 241 |
Biggest deals
top 10 by amount- 1NorthvoltDebt · Sweden · Jan 2024€4.6B
- 2Stegra (H2 Green Steel)Debt · Sweden · Jan 2024€4.5B
- 3Automotive Cells Company (ACC)Debt · France · Feb 2024€4.4B
- 4ImecOther · Belgium · May 2024€2.5B
- 5SumUpDebt · UK · May 2024€1.4B
- 6EnpalDebt · Germany · Mar 2024€1.1B
- 7WayveSeries C · UK · May 2024€1.0B
- 8AboundDebt · UK · May 2024€929M
- 9NorthvoltGrant · Sweden · Jan 2024€902M
- 10PolestarDebt · Sweden · Feb 2024€879M
Concentration
top 10 deals29.8%
of disclosed capital came from the ten largest rounds.
Top 10 total
€22B
Period total
€75B
Countries
Top countries
equity raised2024 — top countries — interactive chart.
Data table
| 2024 — top countries | |
|---|---|
| UK | €12B |
| Germany | €8.0B |
| France | €5.2B |
| Belgium | €4.3B |
| Netherlands | €3.5B |
| Spain | €2.3B |
| Switzerland | €2.3B |
| Sweden | €2.0B |
| Finland | €1.2B |
| Italy | €1.1B |
Capital by country
share of equity2024 — capital by country — interactive chart.
Data table
| 2024 — capital by country | |
|---|---|
| UK | €12B |
| Germany | €8.0B |
| France | €5.2B |
| Belgium | €4.3B |
| Netherlands | €3.5B |
| Spain | €2.3B |
| Switzerland | €2.3B |
| Sweden | €2.0B |
| Finland | €1.2B |
| Italy | €1.1B |
| Other | €5.9B |
Geographic distribution
European countries shown · click a country2024 — geographic distribution — interactive chart.
Industries
Top sectors
equity raised2024 — top sectors — interactive chart.
Data table
| 2024 — top sectors | |
|---|---|
| Software | €6.8B |
| Fintech | €6.3B |
| Energy | €5.2B |
| Healthtech | €5.1B |
| Transportation | €4.7B |
| Deeptech | €3.2B |
| AI | €2.6B |
| Cleantech | €1.9B |
| E-commerce | €1.6B |
| Cloud | €1.2B |
Capital by sector
share of equity2024 — capital by sector — interactive chart.
Data table
| 2024 — capital by sector | |
|---|---|
| Software | €6.8B |
| Fintech | €6.3B |
| Energy | €5.2B |
| Healthtech | €5.1B |
| Transportation | €4.7B |
| Deeptech | €3.2B |
| AI | €2.6B |
| Cleantech | €1.9B |
| Other | €13B |
Stages
Funding by stage
total euro raised by round type2024 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €442M |
| Seed | €2.1B |
| Series A | €4.8B |
| Series B | €5.1B |
| Series C | €4.2B |
| Series D+ | €2.2B |
| Early VC | €10M |
| Growth/Late | €1.1B |
| Debt | €25B |
| Grant | €1.2B |
| Crowdfunding | €18M |
| Other | €28B |
Exits
Exit activity
654
exits recorded
€35B
combined disclosed value
Exits breakdown
by type2024 — exits by type — interactive chart.
Data table
| 2024 — exits by type | |
|---|---|
| Acquisition | 619 |
| Merger | 33 |
| Unknown | 2 |