European startup funding H1 2024
Half-year report · 2024-01-01 – 2024-06-30 · vs H2 2023
Half-year
Summary
auto-generatedIn H1 2024, 1,958 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €26B, down 32.1% versus H2 2023. Debt rounds added a further €23B.
Deal count moved -7.8% versus H2 2023, with 4,054 named investors participating.
UK led by equity raised with €6.9B (26.7% of equity).
Fintech was the most-funded sector at €3.6B in equity (14.0%).
The ten largest rounds accounted for 44.7% of disclosed capital, led by Northvolt's €4.6B.
356 exits were recorded this half-year worth a combined €16B.
Equity funding
€26B
▼ -32.1%excl. debt & grants · +€23B debt
Funding rounds
1,958
▼ -7.8%Companies funded
1,922
▼ -7.6%Named investors
4,054
▼ -4.7%Exits
356
▼ -10.3%Provenance: 87% of 1,958 rounds disclosed an amount · 96% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within -0.03%
Methodology →Investments
Funding within H1 2024
by monthFunding within H1 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 |
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 deals44.7%
of disclosed capital came from the ten largest rounds.
Top 10 total
€22B
Period total
€50B
Countries
Top countries
equity raisedH1 2024 — top countries — interactive chart.
Data table
| H1 2024 — top countries | |
|---|---|
| UK | €6.9B |
| Germany | €4.4B |
| Belgium | €2.9B |
| France | €2.8B |
| Netherlands | €1.8B |
| Switzerland | €1.2B |
| Sweden | €1.0B |
| Spain | €832M |
| Italy | €551M |
| Türkiye | €491M |
Capital by country
share of equityH1 2024 — capital by country — interactive chart.
Data table
| H1 2024 — capital by country | |
|---|---|
| UK | €6.9B |
| Germany | €4.4B |
| Belgium | €2.9B |
| France | €2.8B |
| Netherlands | €1.8B |
| Switzerland | €1.2B |
| Sweden | €1.0B |
| Spain | €832M |
| Italy | €551M |
| Türkiye | €491M |
| Other | €2.9B |
Geographic distribution
European countries shown · click a countryH1 2024 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedH1 2024 — top sectors — interactive chart.
Data table
| H1 2024 — top sectors | |
|---|---|
| Fintech | €3.6B |
| Energy | €3.3B |
| Transportation | €3.0B |
| Software | €3.0B |
| Deeptech | €2.8B |
| Healthtech | €2.2B |
| AI | €1.3B |
| E-commerce | €1.1B |
| Cleantech | €1.0B |
| Semiconductors | €567M |
Capital by sector
share of equityH1 2024 — capital by sector — interactive chart.
Data table
| H1 2024 — capital by sector | |
|---|---|
| Fintech | €3.6B |
| Energy | €3.3B |
| Transportation | €3.0B |
| Software | €3.0B |
| Deeptech | €2.8B |
| Healthtech | €2.2B |
| AI | €1.3B |
| E-commerce | €1.1B |
| Other | €5.8B |
Stages
Funding by stage
total euro raised by round typeH1 2024 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €208M |
| Seed | €1.1B |
| Series A | €2.0B |
| Series B | €3.0B |
| Series C | €2.5B |
| Series D+ | €914M |
| Early VC | €4.8M |
| Growth/Late | €376M |
| Debt | €23B |
| Grant | €1.0B |
| Crowdfunding | €12M |
| Other | €16B |
Exits
Exit activity
356
exits recorded
€16B
combined disclosed value
Exits breakdown
by typeH1 2024 — exits by type — interactive chart.
Data table
| H1 2024 — exits by type | |
|---|---|
| Acquisition | 337 |
| Merger | 19 |