European startup funding Oct 2025
Monthly report · 2025-10-01 – 2025-10-31 · vs Sep 2025
Monthly
Summary
auto-generatedIn Oct 2025, 348 rounds were recorded and disclosed equity funding (excluding debt and grants) reached €6.9B, down 4.7% versus Sep 2025. Debt rounds added a further €1.3B.
Deal count moved -6.5% versus Sep 2025, with 940 named investors participating.
Finland led by equity raised with €1.6B (23.5% of equity).
Healthtech was the most-funded sector at €1.6B in equity (23.5%).
The ten largest rounds accounted for 56.0% of disclosed capital, led by Nokia's €859M.
65 exits were recorded this month worth a combined €8.4B.
Equity funding
€6.9B
▼ -4.7%excl. debt & grants · +€1.3B debt
Funding rounds
348
▼ -6.5%Companies funded
348
▼ -6.2%Named investors
940
▼ -18.4%Exits
65
▼ -12.2%Leading country
€1.6B
23.5% of equity
Leading sector
€1.6B
23.5% of equity
Provenance: 86% of 348 rounds disclosed an amount · 96% of priced rounds are high-confidence · EUR totals reconcile to ECB at-date within +0.07%
Methodology →Investments
Funding within Oct 2025
by dayFunding within Oct 2025 — interactive chart.
Data table
| Amount | Deals | |
|---|---|---|
| 01 | €832M | 23 |
| 02 | €180M | 12 |
| 03 | €168M | 14 |
| 04 | €0 | 0 |
| 05 | €0 | 0 |
| 06 | €0 | 0 |
| 07 | €314M | 29 |
| 08 | €14M | 7 |
| 09 | €263M | 18 |
| 10 | €512M | 18 |
| 11 | €0 | 0 |
| 12 | €0 | 0 |
| 13 | €141M | 9 |
| 14 | €92M | 14 |
| 15 | €1.4B | 28 |
| 16 | €0 | 0 |
| 17 | €651M | 36 |
| 18 | €0 | 0 |
| 19 | €0 | 0 |
| 20 | €0 | 0 |
| 21 | €0 | 0 |
| 22 | €1.1B | 42 |
| 23 | €138M | 16 |
| 24 | €87M | 14 |
| 25 | €0 | 0 |
| 26 | €0 | 0 |
| 27 | €25M | 9 |
| 28 | €115M | 19 |
| 29 | €1.0B | 13 |
| 30 | €1.2B | 16 |
| 31 | €194M | 11 |
Biggest deals
top 10 by amount- 1NokiaOther · Finland · Oct 2025€859M
- 2Oura HealthSeries D+ · Finland · Oct 2025€774M
- 3EnpalDebt · Germany · Oct 2025€700M
- 4Bending SpoonsOther · Italy · Oct 2025€615M
- 5YounitedDebt · France · Oct 2025€400M
- 6NscaleOther · UK · Oct 2025€369M
- 7Tubulis TechnologiesSeries C · Germany · Oct 2025€308M
- 8ReturnGrowth/Late · Netherlands · Oct 2025€300M
- 9SynthesiaOther · UK · Oct 2025€173M
- 10N8NSeries C · Germany · Oct 2025€155M
Concentration
top 10 deals56.0%
of disclosed capital came from the ten largest rounds.
Top 10 total
€4.7B
Period total
€8.3B
Countries
Top countries
equity raisedOct 2025 — top countries — interactive chart.
Data table
| Oct 2025 — top countries | |
|---|---|
| Finland | €1.6B |
| UK | €1.5B |
| Italy | €839M |
| Germany | €750M |
| Netherlands | €514M |
| Sweden | €354M |
| Switzerland | €317M |
| France | €283M |
| Denmark | €177M |
| Bulgaria | €90M |
Capital by country
share of equityOct 2025 — capital by country — interactive chart.
Data table
| Oct 2025 — capital by country | |
|---|---|
| Finland | €1.6B |
| UK | €1.5B |
| Italy | €839M |
| Germany | €750M |
| Netherlands | €514M |
| Sweden | €354M |
| Switzerland | €317M |
| France | €283M |
| Denmark | €177M |
| Bulgaria | €90M |
| Other | €531M |
Geographic distribution
European countries shown · click a countryOct 2025 — geographic distribution — interactive chart.
Industries
Top sectors
equity raisedOct 2025 — top sectors — interactive chart.
Data table
| Oct 2025 — top sectors | |
|---|---|
| Healthtech | €1.6B |
| Software | €1.0B |
| Telecom | €871M |
| Energy | €573M |
| Fintech | €514M |
| AI | €446M |
| Cloud | €370M |
| Transportation | €302M |
| Cleantech | €172M |
| Agritech | €151M |
Capital by sector
share of equityOct 2025 — capital by sector — interactive chart.
Data table
| Oct 2025 — capital by sector | |
|---|---|
| Healthtech | €1.6B |
| Software | €1.0B |
| Telecom | €871M |
| Energy | €573M |
| Fintech | €514M |
| AI | €446M |
| Cloud | €370M |
| Transportation | €302M |
| Other | €1.2B |
Stages
Funding by stage
total euro raised by round typeOct 2025 — funding by stage — interactive chart.
Data table
| Amount | |
|---|---|
| Pre-Seed | €74M |
| Seed | €205M |
| Series A | €736M |
| Series B | €323M |
| Series C | €785M |
| Series D+ | €865M |
| Growth/Late | €436M |
| Debt | €1.3B |
| Grant | €53M |
| Crowdfunding | €1.1M |
| Other | €3.5B |
Exits
Exit activity
65
exits recorded
€8.4B
combined disclosed value
Exits breakdown
by typeOct 2025 — exits by type — interactive chart.
Data table
| Oct 2025 — exits by type | |
|---|---|
| Acquisition | 63 |
| Merger | 2 |