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Laxman Pai, Opalesque Asia: VC investment in Europe plummeted from $17.9 billion in Q2'24 to a level not seen since Q2'20 ($12.5 billion) in Q3'24, said a study.
Despite continuing to attract the largest share of VC funding in the region, the UK saw VC investment drop from $7.1 billion to $3.4 billion quarter-over-quarter, according to the Q3'24 edition of KPMG Private Enterprise's Venture Pulse.
Germany was the only major jurisdiction in Europe to see VC investment increase-from $2 billion to $2.4 billion between Q2'24 and Q3'24. Germany also accounted for three of Europe's five largest deals during Q3'24, including a $483 million raise by AI-enabled defense tech Helsing, a $278 million raise by satellite launch services company Isar Aerospace, and a $200 million raise by smart workout solution firm EGYM.
Raises by France-based mobile games maker Voodoo ($385 million) and UK-based open payments firm Form3 ($$220 million) rounded out the top five.
Meanwhile, Crunchbase data showed that venture funding to European startups reached $10 billion in Q3 2024 - the lowest quarter since the third quarter of 2020.
Startup funding to the continent fell dramatically: 36% quarter over quarter and 39% year over year. Of the three largest countries for startup funding in Europe, Germany was the only one to show a quarter-over-quarter and year-over-year increase.
While Europe's Q3 funding decline is significant, it's worth noting that venture investment since the start...................... To view our full article Click here
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