Largest Venture Capital Rounds in Europe This Year (Thus Far)
In the first half of 2025, European startups have demonstrated a remarkable surge in securing substantial funding rounds across various advanced technology sectors, including Artificial Intelligence (AI), biotech, defence, and deep tech. Collectively, they have raised nearly €24.53 billion ($28.9 billion) over approximately 3,600 funding rounds.
The top 10 largest deals alone accounted for over €3.8 billion, highlighting the concentration of capital into startups pushing the frontiers in AI, defence technologies, and pharmaceutical research.
Leading the pack is Munich-based Helsing, which raised an impressive €600 million to develop AI-powered defence systems. This significant investment underscores strong investor confidence in Europe’s defence tech capabilities and the ability to rival Silicon Valley competitors.
London's Isomorphic Labs, a spinout from DeepMind, secured another €600 million to advance AI-driven pharmaceutical development, emphasising the sector’s potential revolution in drug discovery.
In the deep tech sector, Munich’s Proxima Fusion raised €130 million in Series A funding to pursue stellarator fusion reactor development, aiming for the world’s first commercial stellarator fusion power plant by the 2030s. This investment marks a significant vote of confidence in clean energy technologies.
Paris-based Nabla, focusing on biotech, secured €59.4 million in a Series C round to further its work in healthcare AI, underlining sustained interest in biotech innovation within Europe.
Sectoral Overview:
| Sector | Key Companies and Funding | Funding Range | Focus Areas | |---------------|---------------------------------------------|------------------------------|-----------------------------------| | Artificial Intelligence | Helsing (€600M), Isomorphic Labs (€600M) | Up to €600 million | Defence AI, AI-driven pharma | | Biotech | Nabla (€59.4M), Verdiva Bio (€348M) | €50M - €348M+ | Genomic mapping, biomarkers, obesity-related drug development | | Defence | Helsing (€600M) | €600 million | AI-powered defence systems | | Deep Tech | Proxima Fusion (€130M), Quantonation II (€30M EIF VC fund) | €30M - €130M | Fusion energy, quantum computing |
Investor Sentiment and Market Context:
Despite broader economic uncertainties, the European startup ecosystem continues to attract significant investor confidence, focusing increasingly on startups addressing complex global challenges with scalable technology solutions. The presence of six of the top 10 funded companies currently hiring suggests strong growth and optimism in talent acquisition to capitalize on raised capital.
Initiatives such as Alcatraz AI’s promotion of advanced biometric security solutions underscore the broader trends toward AI and technology applications in security and operational efficiency across industries like healthcare and data centers.
Notable funding rounds outside the top 20 include XY Miners, a cloud-based Bitcoin mining operation based in Lewes, UK, which raised €254 million; Zepz, owner of WorldRemit and Sendwave, doubled down on mobile-first money transfers in emerging markets with €140 million; Quantexa raised €148 million for spotting fraud and financial crime using graph-based AI; Dojo raised €161 million for payment and business tools for service-focused brands; Quantum Systems became Europe's latest defence tech unicorn with a €149 million Series C round; TravelPerk, a corporate travel management startup based in Barcelona, Spain, raised €170 million in a Series E round; and Ori Industries raised €149 million for managing workloads across cloud and edge networks.
These investment patterns suggest that Europe is increasingly viewed as a global hub for cutting-edge innovation and scaling high-impact tech ventures.
Financing in the technology sector has constantly been on the rise, as evidenced by the €600 million investment in Munich-based Helsing for AI-powered defence systems, indicating a growing interest in Europe's defence tech capabilities. Furthermore, £600 million was secured by London's Isomorphic Labs, a spinout from DeepMind, to advance AI-driven pharmaceutical development, signifying strong investment in AI technology.
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