European deeptech companies are driving breakthroughs across industries such as healthcare, energy, mobility, and AI.
These companies leverage advanced technologies, such as AI, robotics, quantum computing, and biotechnology, to solve complex global challenges and disrupt traditional industries.
With a focus on research, sustainability, and cutting-edge solutions, they are vital to Europe’s tech ecosystem, contributing to economic growth and technological leadership.
Looking ahead to 2025, European deeptech companies are set to play an increasingly crucial role in shaping the future, reinforcing Europe’s position as a global innovation leader.
Here are ten European deeptech companies that raised the most in the first three quarters of 2024.
Imec (Belgium)
Imec is a world-renowned R&D and innovation hub specializing in nanoelectronics and digital technologies.
Leveraging a cutting-edge €2.5 billion 300mm semiconductor pilot line, a diverse team of over 5,500 experts from 96+ countries, and a vast ecosystem of 600+ industry and academic partners, Imec drives innovation in deep-tech, software, and systems.
Its groundbreaking solutions address critical challenges in healthcare, mobility, Industry 5.0, clean energy, and agrifood, enhancing quality of life and advancing sustainable progress worldwide.
In May, the company raised €2.5 billion for advanced chip tech R&D pilot line.
Qdrant (Germany)
Qdrant is an open-source vector search database designed to power the next generation of AI applications with cutting-edge, high-performance vector similarity search technology.
Deployable as an API service, Qdrant enables efficient searching for high-dimensional vectors, making it an ideal solution for transforming embeddings and neural network encoders into robust applications.
From matching and searching to recommending and beyond, Qdrant provides the foundation for building intelligent, data-driven systems easily.
In January, the company raised $28 million.
iCOMAT (UK)
iCOMAT is a pioneer in advanced composite manufacturing, revolutionizing the industry with its patented Rapid Tow Shearing (RTS) technology—the world’s first defect-free fibre-steering process.
Originating as a spin-out from the University of Bristol, iCOMAT enables the creation of ultra-lightweight, stronger, and more cost-effective carbon fibre composites for industries such as aerospace, automotive, and marine.
Committed to delivering world-class composite manufacturing solutions, iCOMAT partners with clients to achieve unprecedented levels of product performance, transforming lightweight across transport and other high-performance sectors.
During the first three quarters of 2024, the company completed two funding rounds, raising approximately €26 million in total.
Greenerwave (France)
Greenerwave is a French deep-tech startup revolutionizing electromagnetic wave control with smart materials and advanced physics-based algorithms.
Founded in 2016, the company builds on groundbreaking research to create intelligent, reconfigurable surfaces for telecommunications and beyond.
Greenerwave’s innovative technology enables cost-effective, low-power solutions for diverse applications, including RFID, 4D RADAR imaging, and steerable antennas for SATCOM and 5G-6G.
By shifting the complexity from hardware to software, Greenerwave delivers cutting-edge wave-shaping solutions that are attracting significant interest from leading industry players.
Earlier this year, the company closed a €15 million fundraising round.
Peaq (Germany)
Peaq is a pioneering layer-1 blockchain driving a global infrastructure revolution.
It empowers individuals to own and benefit from innovations in mobility, energy, connectivity, environment, agriculture, and digital infrastructure. As the backbone for Decentralized Physical Infrastructure Networks (DePINs), peaq supports over 45 applications across 18 industries and connects more than 1,000,000 intelligent devices, vehicles, machines, and robots.
Offering permissionless and borderless digital infrastructure, peaq enables increasingly advanced machines to serve humanity equitably, democratizing opportunities and abundance in the Age of AI and automation.
In March the company raised $15 million for web3-enabled public infrastructure.
Monumo (UK)
Monumo is a deep-tech engineering company revolutionizing electric motors to drive sustainability and efficiency. With electric motors consuming half of the world’s electricity, Monumo is committed to creating motors that optimize resource use like never before.
Currently focused on EV powertrain systems, Monumo collaborates with leading automotive companies to deliver advanced motor system designs that provide a significant competitive edge.
This year, the company successfully completed two funding rounds, raising a total of approximately €13 million.
Morphotonics (Netherlands)
Morphotonics revolutionizes visual experiences with cutting-edge nanoimprinting technology, enabling the creation of innovative products like next-generation mobile screens, intuitive 3D interfaces, and immersive AR glasses.
With unmatched precision at nano and micron scales, Morphotonics makes high-volume, high-quality, cost-effective manufacturing a reality.
Morphotonics raised €10 million in Series B funding, to scale operations, expand its global customer base, and accelerate the adoption of large-area nanoimprinting in display technology, with a second closing expected by year-end.
CarbonX (Netherlands)
CarbonX is a company that is addressing the growing demand for locally sourced critical raw materials for the battery industry.
Based in the Netherlands, the company leverages its proprietary feedstock technology to enable cell manufacturers and electric vehicle OEMs to obtain high volumes of essential anode materials locally.
CarbonX's innovative technology is energy-efficient, consuming significantly less power than synthetic or natural graphite, which leads to lower costs and a reduced carbon footprint.
Earlier this year, the company closed €10 million in a fresh funding round which will use the funds to accelerate its commercial growth to the next level.
FluoRok (UK)
FluoRok, a spin-out from the University of Oxford, has developed a patented method to access essential fluorochemicals crucial for the energy transition, healthcare, and food supply.
The UK-based company focuses on creating efficient, safe, and sustainable solutions for fluorochemical production by utilizing fluorinated waste or naturally occurring fluorite minerals as raw materials.
FluoRok's proprietary technology reduces energy consumption, lowers CO2 emissions, and enables the reshoring of manufacturing with enhanced process safety while introducing the circular economy to fluorochemical production. The company primarily targets markets in Li-ion battery electrolyte salts and agrochemicals.
Recently, the company secured £7.7 million in a fresh funding round.
Waymap (UK)
Waymap is a high-tech company that provides the world’s only navigation app offering precise guidance both indoors and outdoors, with accuracy up to 1 meter and 10-degree heading, without the need for external signals.
Originally developed to assist visually impaired individuals, Waymap has expanded its mission to offer the most accurate and inclusive navigation solution.
The app provides step-by-step directions across city transport networks, streets, and major buildings, ensuring users can navigate seamlessly wherever a map is available.
In April, the company completed a £7 million funding round.
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