The most interesting deals among the top five funded European countries in 2023

As noted in our 2023 Annual Report, the list of top funding countries across Europe is as expected.

The UK took 2023’s top slot with €24.7 billion flowing to its shores, Germany saw €8.7 billion, France garnered €8.2 billion, the Netherlands claimed €6.1 billion, and Sweden €4.6 billion.

With this in mind, we're outlining some of the more interesting deals Tech.eu has followed in these top five countries in 2023.

1

Oxbotica, UK

Oxford-based autonomous vehicle software maker Oxbotica raised $140 million in a Series C round. The investment round was aimed at supporting the company’s deployment of its operating system in multiple commercial and industrial industries including agriculture, airports, energy, goods delivery, mining, and shared passenger transportation.

2

Quantexa, UK

Quantexa, a UK-based Decision Intelligence (DI) solutions company completed a $129 million Series E funding round with a $1.8 billion valuation. The round was led by GIC and included participation from Warburg Pincus, Dawn Capital, British Patient Capital, Evolution Equity Partners, HSBC, BNY Mellon, ABN AMRO, and AlbionVC.

3

Infogrid, UK

London-based Infogrid raised $90 million in a Series B round. The capital was expected to help the company expand, particularly in the areas of its dataset and increasing the functionality of its building intelligence platform.

4

eGym, Germany

Munich-based fitness tech firm EGYM raised $225 million in a Series F funding round. The capital was aimed at helping the company expand into more gyms, increase corporate subscriptions at its network of sports and wellness facilities and press forward with research and development projects, all the while progressing towards an IPO.

5

Isar Aerospace, Germany

Munich-based spacetech startup Isar Aerospace raised €155 million in a Series C funding round that saw the company continue to drive towards the liftoff of its Spectrum launch vehicle.

6

JOLT Energy, Germany

The Dublin and Munich-based company e-mobility company Jolt Energy (Jolt) received a €150 million investment from InfraRed Capital Partners to bring its battery-buffered ultra-fast charging stations to urban areas across Europe and the US.

7

Verkor, France

French manufacturer of low-carbon batteries Verkor secured over €2 billion in a Series C funding round. The capital, comprised of a minimum of €850 million, a €500 million loan from the EIB, and French government subsidies totalling approximately €650 million, were to be used to finance the launch of a Dunkirk-based gigafactory.

8

Ledger, France

Paris-based digital asset security firm Ledger raised an additional €100 million in a Series C extension round. According to the company, the newest influx of capital was aimed at accelerating Ledger’s ambitions to “bring a new generation of secure consumer devices to hundreds of millions exploring critical digital assets and blockchain-enabled technology.”

9

Pasqal, France

Paris-based neutral atoms approach quantum computing startup Pasqal raised €100 million in a Series B funding round. The quantum processor maker said it would use the new capital to further develop its research and development efforts to build a 1,000-qubit quantum computer in the short term and fault-tolerant architectures in the long term.

10

Agreena, Denmark

Danish climate and fintech firm Agreena, raised €46 million in a Series B round to further scale its soil carbon platform. The round was led by HV Capital and includes AENU, Anthemis with existing shareholders Gullspång Re:food, Kinnevik and Denmark’s Export and Investment fund.

11

Weaviate, Netherlands

Amsterdam-based Weaviate raised $50 million in a Series B funding round to expand its team and further develop its open source database and cloud service to meet demands from the AI application development market.

12

Crisp, Netherlands

Crisp, an Amsterdam-based supermarket app, raised €35 million in a Series C funding round. Having already banked €121 million since 2018, Crisp says that it intended to use the new investment capital to continue to “build a better food system”.

13

Northvolt, Sweden

Canada’s Caisse de Depot et Placement du Quebec (CDPQ) invested $150 million in Stockholm-based sustainable lithium-ion battery maker Northvolt via convertible notes. The financing was provided to support the realisation of Northvolt’s sixth gigafactory and the first outside of Europe.

14

Neko Health, Sweden

Swedish start-up Neko Health raised €60 million in a Series A funding round. The Daniel Ek co-founded startup intended to use the investment to drive expansion across Europe, a recruitment drive, and continued investment in R&D and clinical studies.

15

Lassie, Sweden

Swedish company Lassie, the world’s first preventive pet insurance ecosystem, raised €23 million in a Series B funding round. The investment was to be used to develop Lassie’s ecosystem offering, including the in-app sale of health products for pets, grow its tech and product teams, continue momentum in Germany and Sweden, and plan the next international launch.

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