European startup funding May 2025
Monthly report · 2025-05-01 – 2025-05-31 · vs Apr 2025
Monthly
Summary
auto-generatedIn May 2025, 353 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €4.4B, up 53.0% versus Apr 2025. Debt rounds added a further €1.0B.
Deal count moved +10.7% versus Apr 2025, with 860 named investors participating.
UK led by equity raised with €1.0B (22.9% of equity).
Software was the most-funded sector at €1.4B in equity (32.3%).
The ten largest rounds accounted for 53.0% of disclosed capital, led by Grammarly's €882M.
58 exits were recorded this month worth a combined €4.3B.
Equity funding
€4.4B
▲ +53.0%excl. debt & grants · +€1.0B debt
Funding rounds
353
▲ +10.7%Companies funded
352
▲ +10.3%Named investors
860
▲ +6.6%Exits
58
▲ +1.8%Provenance: 87% of 353 rounds disclosed an amount · 89% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +0.05%
Methodology →Investments
Funding within May 2025
by dayFunding within May 2025 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| 01 | €72k | 1 |
| 02 | €126M | 19 |
| 03 | €0 | 0 |
| 04 | €0 | 0 |
| 05 | €39M | 10 |
| 06 | €377M | 21 |
| 07 | €536M | 15 |
| 08 | €159M | 22 |
| 09 | €55M | 10 |
| 10 | €67M | 2 |
| 11 | €0 | 0 |
| 12 | €157M | 15 |
| 13 | €131M | 18 |
| 14 | €464M | 26 |
| 15 | €58M | 12 |
| 16 | €140M | 9 |
| 17 | €0 | 0 |
| 18 | €220k | 1 |
| 19 | €644M | 13 |
| 20 | €147M | 19 |
| 21 | €333M | 24 |
| 22 | €97M | 19 |
| 23 | €13M | 16 |
| 24 | €0 | 0 |
| 25 | €0 | 0 |
| 26 | €121M | 10 |
| 27 | €316M | 27 |
| 28 | €268M | 15 |
| 29 | €34M | 12 |
| 30 | €1.2B | 17 |
| 31 | €0 | 0 |
Biggest deals
top 10 by amount- 1GrammarlyOther · Ukraine · May 2025€882M
- 2IONITYDebt · Germany · May 2025€600M
- 3Stream (formerly Wagestream)Debt · UK · May 2025€352M
- 4SkyNRGOther · Netherlands · May 2025€250M
- 5DojoOther · UK · May 2025€168M
- 6Quantum SystemsOther · Germany · May 2025€160M
- 7AzafarosSeries B · Netherlands · May 2025€132M
- 8LAXEYOther · Iceland · May 2025€130M
- 9XoopleOther · Spain · May 2025€115M
- 10GlycoEraSeries B · Switzerland · May 2025€114M
Concentration
top 10 deals53.0%
of disclosed capital came from the ten largest rounds.
Top 10 total
€2.9B
Period total
€5.5B
Countries
Top countries
equity raisedMay 2025 — top countries — interactive chart.
Data table
| May 2025 — top countries | |
|---|---|
| UK | €1.0B |
| Ukraine | €884M |
| Netherlands | €704M |
| Germany | €463M |
| Switzerland | €321M |
| Spain | €171M |
| France | €161M |
| Iceland | €130M |
| Sweden | €120M |
| Finland | €87M |
Capital by country
share of equityMay 2025 — capital by country — interactive chart.
Data table
| May 2025 — capital by country | |
|---|---|
| UK | €1.0B |
| Ukraine | €884M |
| Netherlands | €704M |
| Germany | €463M |
| Switzerland | €321M |
| Spain | €171M |
| France | €161M |
| Iceland | €130M |
| Sweden | €120M |
| Finland | €87M |
| Other | €356M |
Geographic distribution
European countries shown · click a countryMay 2025 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedMay 2025 — top sectors — interactive chart.
Data table
| May 2025 — top sectors | |
|---|---|
| Software | €1.4B |
| Healthtech | €714M |
| Fintech | €514M |
| AI | €384M |
| Energy | €328M |
| Foodtech | €170M |
| Robotics | €166M |
| Transportation | €93M |
| Space | €85M |
| Consumer | €79M |
Capital by sector
share of equityMay 2025 — capital by sector — interactive chart.
Data table
| May 2025 — capital by sector | |
|---|---|
| Software | €1.4B |
| Healthtech | €714M |
| Fintech | €514M |
| AI | €384M |
| Energy | €328M |
| Foodtech | €170M |
| Robotics | €166M |
| Transportation | €93M |
| Other | €632M |
Stages
Funding by stage
total euro raised by round typeMay 2025 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €47M |
| Seed | €212M |
| Series A | €422M |
| Series B | €668M |
| Series C | €163M |
| Growth/Late | €137M |
| Debt | €1.0B |
| Grant | €57M |
| Crowdfunding | €242k |
| Other | €2.8B |
Exits
Exit activity
58
exits recorded
€4.3B
combined disclosed value
Exits breakdown
by typeMay 2025 — exits by type — interactive chart.
Data table
| May 2025 — exits by type | |
|---|---|
| Acquisition | 53 |
| Merger | 5 |