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European Venture Funding Slows Further At Seed And Early Stage

Oct 18, 2023 - news.crunchbase.com
Funding to European startups reached $16.4 billion in Q3 2023, a 28% increase from the previous quarter. The majority of this increase was concentrated in late-stage funding. However, seed and early-stage companies experienced their lowest funding levels since the start of the downturn. The U.K. was the largest region for funding, followed by Sweden, France, and Germany. AI companies in Europe raised $1.8 billion, representing 11% of the continent's funding.

Late-stage funding in Europe doubled quarter over quarter, with significant funding raised in the sustainable energy sector. Early-stage funding totaled $4.5 billion, the lowest since Q3 2022, with the largest proportion invested in Series A companies. Seed funding totaled $1.4 billion, down from $2.1 billion a year earlier, marking a 25% decrease quarter over quarter and 30% year over year. Despite this, European companies raised a larger proportion of global venture capital compared to earlier in the year.

Key takeaways:

  • Funding to European startups reached $16.4 billion in Q3 2023, up by 28% quarter over quarter but flat year over year.
  • The largest region for funding in the third quarter in Europe was the U.K., followed by Sweden, France and Germany.
  • Europe’s AI companies raised $1.8 billion in Q3 2023, representing 11% of the continent’s funding and close to one-fifth of global AI funding.
  • European seed funding totaled $1.4 billion in Q3, down from $2.1 billion a year earlier, marking its lowest since the downturn.
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