European tech investment held steady last week, with more than 50 funding deals netting over €4.6 billion alongside a wave of exits and acquisitions. The momentum arrives even as August data showed a sharp cooling from July’s pace.
The latest monthly figures reveal European startups pulled in €3.2 billion across 165 deals in August, down significantly from the prior month. The UK dominated, capturing €1.4 billion of that total, while artificial intelligence drew €677.1 million. Exit transactions also slowed, with just 37 recorded during the month.
Leading last week’s activity, UK-based Nscale closed a massive $3 billion debt package aimed at building AI infrastructure across the United States. Meanwhile, Dutch AI startup Wonderful raised $550 million at a stunning $5 billion valuation, signaling continued investor appetite for artificial intelligence plays at scale.
FNZ secured $450 million, while London’s Scan.com pulled in $220 million to fuel its American expansion. Salesforce led a $166 million round for HiBob, valuing the HR platform at $3.2 billion. Spain’s PLD Space added €108 million to its Series C, bringing that round to €288 million total.
Nvidia backed IPronics with a $125 million Series B, underscoring big tech’s interest in European deep tech. Swedish medical device maker Elekta secured a €100 million loan from the European Investment Bank for cancer and neurological treatment advancement. Germany’s Cloover hit profitability at a $350 million revenue run rate and locked in a $100 million financing facility.
Across the smaller deals, activity spanned sectors from quantum computing to drone cleaning, food tech, and synthetic fuels. Cybersecurity, proptech, and space propulsion startups all captured investor attention.
On the M&A front, Polish firm Callstack acquired Viennese app developer Margelo. Spain’s Factorial bought Berlin-based AI startup Empion. London’s HITAI snapped up Y Combinator-backed fitness gaming studio Quell. LexisNexis completed its purchase of French legal AI company DOCTRINE.
The flurry of deals across multiple geographies and sectors suggests European tech remains resilient despite August’s slowdown. Whether September’s pace continues remains the key question for investors tracking the region’s trajectory.
