Tech Investments in Europe Surge by 18% in July, Reaching €9.3 Billion with Telecom Leading the Way
European Tech Companies Secure Record Funding in July 2023
European tech companies have broken records in July 2023, with a total of €9.3 billion raised across 355 deals, according to the Tech.eu database. This represents an 18% increase compared to the €6.5 billion raised in June 2023.
One of the standout funding rounds of the month was for CityFibre, a London-based independent telecommunications network provider, which secured £2.3 billion (approximately €2.6 billion). This deal, however, is not included in the total amount of €9.3 billion mentioned earlier. CityFibre's financing round was aimed at supporting its growth.
The number of deals in July 2023 was 355, which is higher than the 323 deals in June 2023. Notably, 14 European tech companies secured more than €100 million each in July 2023, but the total amount raised by these companies is not specified. Additionally, the values of 48 deals in July 2023 remain undisclosed.
Looking back to July 2021, several European tech companies also raised over €100 million. The biggest deal was the €172.8 million Series A funding round for Swedish AI startup Lovable. Other significant companies included UK-based Xelix, which secured €138.3 million in its Series B round.
The Tech.eu database, the source of this information, did not provide specific details about the 14 companies that raised more than €100 million or the 48 deals with undisclosed values in July 2023.
[1] Source: Tech.eu database (for July and June 2021 and July 2023 data)
Despite the record-breaking funding in July 2023, notable details regarding the 14 companies that raised over €100 million and the 48 deals with undisclosed values remain undisclosed. The financing round for CityFibre, while not included in the total amount of €9.3 billion, was aimed at supporting its growth in the finance sector.
