European startup funding Q2 2024
Quarterly report · 2024-04-01 – 2024-06-30 · vs Q1 2024
Quarterly
Summary
auto-generatedIn Q2 2024, 977 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €14B, up 29.4% versus Q1 2024. Debt rounds added a further €5.6B.
Deal count moved -0.4% versus Q1 2024, with 2,287 named investors participating.
UK led by equity raised with €4.3B (29.4% of equity).
Deeptech was the most-funded sector at €2.6B in equity (17.9%).
The ten largest rounds accounted for 41.6% of disclosed capital, led by Imec's €2.5B.
164 exits were recorded this quarter worth a combined €11B.
Equity funding
€14B
▲ +29.4%excl. debt & grants · +€5.6B debt
Funding rounds
977
▼ -0.4%Companies funded
973
▲ +0.1%Named investors
2,287
▲ +0.1%Exits
164
▼ -14.6%Provenance: 87% of 977 rounds disclosed an amount · 97% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +0.30%
Methodology →Investments
Funding within Q2 2024
by monthFunding within Q2 2024 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| Apr | €3.7B | 330 |
| May | €11B | 316 |
| Jun | €5.7B | 331 |
Biggest deals
top 10 by amount- 1ImecOther · Belgium · May 2024€2.5B
- 2SumUpDebt · UK · May 2024€1.4B
- 3WayveSeries C · UK · May 2024€1.0B
- 4AboundDebt · UK · May 2024€929M
- 5Mistral AIDebt · France · Jun 2024€600M
- 6Bicycle TherapeuticsOther · UK · May 2024€512M
- 7Zenobe EnergyDebt · UK · May 2024€481M
- 8Highview PowerOther · UK · Jun 2024€356M
- 9iwocaDebt · UK · May 2024€315M
- 10HomeTreeDebt · UK · Jun 2024€297M
Concentration
top 10 deals41.6%
of disclosed capital came from the ten largest rounds.
Top 10 total
€8.4B
Period total
€20B
Countries
Top countries
equity raisedQ2 2024 — top countries — interactive chart.
Data table
| Q2 2024 — top countries | |
|---|---|
| UK | €4.3B |
| Belgium | €2.8B |
| Germany | €2.0B |
| France | €1.4B |
| Switzerland | €614M |
| Netherlands | €563M |
| Spain | €450M |
| Sweden | €426M |
| Türkiye | €411M |
| Denmark | €296M |
Capital by country
share of equityQ2 2024 — capital by country — interactive chart.
Data table
| Q2 2024 — capital by country | |
|---|---|
| UK | €4.3B |
| Belgium | €2.8B |
| Germany | €2.0B |
| France | €1.4B |
| Switzerland | €614M |
| Netherlands | €563M |
| Spain | €450M |
| Sweden | €426M |
| Türkiye | €411M |
| Denmark | €296M |
| Other | €1.2B |
Geographic distribution
European countries shown · click a countryQ2 2024 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedQ2 2024 — top sectors — interactive chart.
Data table
| Q2 2024 — top sectors | |
|---|---|
| Deeptech | €2.6B |
| Transportation | €2.3B |
| Fintech | €1.5B |
| Software | €1.5B |
| Healthtech | €1.3B |
| Energy | €1.2B |
| AI | €821M |
| Cleantech | €630M |
| E-commerce | €574M |
| Semiconductors | €433M |
Capital by sector
share of equityQ2 2024 — capital by sector — interactive chart.
Data table
| Q2 2024 — capital by sector | |
|---|---|
| Deeptech | €2.6B |
| Transportation | €2.3B |
| Fintech | €1.5B |
| Software | €1.5B |
| Healthtech | €1.3B |
| Energy | €1.2B |
| AI | €821M |
| Cleantech | €630M |
| Other | €3.0B |
Stages
Funding by stage
total euro raised by round typeQ2 2024 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €105M |
| Seed | €626M |
| Series A | €1.1B |
| Series B | €1.0B |
| Series C | €1.9B |
| Series D+ | €271M |
| Early VC | €1.8M |
| Growth/Late | €176M |
| Debt | €5.6B |
| Grant | €31M |
| Crowdfunding | €3.3M |
| Other | €9.3B |
Exits
Exit activity
164
exits recorded
€11B
combined disclosed value
Exits breakdown
by typeQ2 2024 — exits by type — interactive chart.
Data table
| Q2 2024 — exits by type | |
|---|---|
| Acquisition | 150 |
| Merger | 14 |