European startup funding Q3 2024
Quarterly report · 2024-07-01 – 2024-09-30 · vs Q2 2024
Quarterly
Summary
auto-generatedIn Q3 2024, 893 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €9.4B, down 35.3% versus Q2 2024. Debt rounds added a further €1.5B.
Deal count moved -8.6% versus Q2 2024, with 2,023 named investors participating.
UK led by equity raised with €2.5B (26.3% of equity).
Software was the most-funded sector at €1.8B in equity (19.6%).
The ten largest rounds accounted for 26.9% of disclosed capital, led by team.blue's €550M.
152 exits were recorded this quarter worth a combined €11B.
Equity funding
€9.4B
▼ -35.3%excl. debt & grants · +€1.5B debt
Funding rounds
893
▼ -8.6%Companies funded
887
▼ -8.8%Named investors
2,023
▼ -11.5%Exits
152
▼ -7.3%Provenance: 85% of 893 rounds disclosed an amount · 95% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within -0.01%
Methodology →Investments
Funding within Q3 2024
by monthFunding within Q3 2024 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| Jul | €5.0B | 341 |
| Aug | €1.9B | 204 |
| Sep | €4.2B | 348 |
Biggest deals
top 10 by amount- 1team.blueOther · Belgium · Jul 2024€550M
- 2HR PathDebt · France · Jul 2024€500M
- 3HelsingOther · Germany · Jul 2024€450M
- 4SunlyDebt · Estonia · Aug 2024€300M
- 5ZunderOther · Spain · Jul 2024€225M
- 6Nexi GroupDebt · Italy · Sep 2024€220M
- 7Flo HealthSeries C · UK · Jul 2024€185M
- 8eGymOther · Germany · Sep 2024€179M
- 9DNEGOther · UK · Jul 2024€177M
- 10AlanSeries D+ · France · Sep 2024€173M
Concentration
top 10 deals26.9%
of disclosed capital came from the ten largest rounds.
Top 10 total
€3.0B
Period total
€11B
Countries
Top countries
equity raisedQ3 2024 — top countries — interactive chart.
Data table
| Q3 2024 — top countries | |
|---|---|
| UK | €2.5B |
| Germany | €2.2B |
| France | €1.0B |
| Belgium | €671M |
| Spain | €577M |
| Netherlands | €530M |
| Italy | €373M |
| Switzerland | €318M |
| Portugal | €248M |
| Sweden | €247M |
Capital by country
share of equityQ3 2024 — capital by country — interactive chart.
Data table
| Q3 2024 — capital by country | |
|---|---|
| UK | €2.5B |
| Germany | €2.2B |
| France | €1.0B |
| Belgium | €671M |
| Spain | €577M |
| Netherlands | €530M |
| Italy | €373M |
| Switzerland | €318M |
| Portugal | €248M |
| Sweden | €247M |
| Other | €708M |
Geographic distribution
European countries shown · click a countryQ3 2024 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedQ3 2024 — top sectors — interactive chart.
Data table
| Q3 2024 — top sectors | |
|---|---|
| Software | €1.8B |
| Fintech | €1.1B |
| Healthtech | €1.1B |
| Transportation | €1.0B |
| Energy | €866M |
| AI | €661M |
| Cleantech | €325M |
| Deeptech | €269M |
| E-commerce | €268M |
| Sports | €219M |
Capital by sector
share of equityQ3 2024 — capital by sector — interactive chart.
Data table
| Q3 2024 — capital by sector | |
|---|---|
| Software | €1.8B |
| Fintech | €1.1B |
| Healthtech | €1.1B |
| Transportation | €1.0B |
| Energy | €866M |
| AI | €661M |
| Cleantech | €325M |
| Deeptech | €269M |
| Other | €2.2B |
Stages
Funding by stage
total euro raised by round typeQ3 2024 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €111M |
| Seed | €455M |
| Series A | €1.3B |
| Series B | €851M |
| Series C | €1.0B |
| Series D+ | €352M |
| Early VC | €5.7M |
| Growth/Late | €11M |
| Debt | €1.5B |
| Grant | €140M |
| Crowdfunding | €5.2M |
| Other | €5.3B |
Exits
Exit activity
152
exits recorded
€11B
combined disclosed value
Exits breakdown
by typeQ3 2024 — exits by type — interactive chart.
Data table
| Q3 2024 — exits by type | |
|---|---|
| Acquisition | 145 |
| Merger | 5 |
| Unknown | 2 |