European tech startups raised a record €18.5 billion in Q3 2024, marking the third consecutive quarter of record-breaking funding totals. Paris and Munich led the surge, while London’s share dipped below 10% for the first time since 2019. Despite a 4% year-on-year decline from Q3 2023’s €19.3 billion, the quarter still outperformed 2022’s figures.
The rise of Paris-based AI startups like Mistral and Hugging Face, alongside Munich’s strong ecosystem, contributed to the shift. London’s funding fell to €1.9 billion, though it remained Europe’s top hub overall. The data reflects a broader trend of continental Europe gaining ground in the global tech race.
Source: Sifted · Summarized by HeadlinesBriefing