What This Quarter Says About European Startup Success

Funding to European startups rose to nearly $16 billion in Q2 2024, marking a 31% increase quarter over quarter and 17% year over year. This funding exceeded investment to Asia for the first time in a decade, partly due to tensions between the U.S. and China affecting Asian markets. The UK led European funding with $6.7 billion, followed by France at $2.9 billion, while Germany saw a decline to $1.8 billion. AI investments dominated with $3.3 billion, followed by financial services at $3 billion and sustainability at $2.5 billion. Late-stage funding reached $7.5 billion across 100+ rounds, while early-stage funding hit $6.5 billion with significant increases in Series B funding. Seed stage funding declined to $1.8 billion from the previous year's $2.3 billion. Major acquisitions included LumApps and BeReal, along with notable unicorn additions like Pigment, Autodoc, and Builder.ai. Revolut reported $2.2 billion in revenue for 2023 and a profit of $545 million, emphasizing positive trends in European venture funding.

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