24 European tech companies that raised the most in 2024

In 2024, European tech companies secured more than €74.4 billion across over 3,700 deals. When compared to a year before, this figure is higher by approximately 10 percent (€67.6 billion secured in 2023). This indicates a positive shift in investor sentiment or market conditions for European tech. Despite this increase, the 2024 total remains about 30 per cent below the peak of €101.2 billion in 2022.

Although many of the largest deals in 2024 focused on debt financing for the construction of gigafactories (e.g., Northvolt, Stegra, ACC), others were directed towards R&D and seizing global growth opportunities.

For a more comprehensive review of topics including investments, geographic region performance, industry performance, top M&A and exit activities, and much more, check out Tech.eu’s annual report “European tech 2024: The big picture”.

Now let’s have a look at the 24 European tech companies that raised the most in 2024.

24. Poolside (France)
Amount raised in 2024: $400 million

Poolside.ai is a company focused on developing advanced AI models for software engineering. It offers a customizable AI solution that integrates directly with your codebases and business practices, fine-tuning to create proprietary models that continuously improve developer productivity. 

The company's foundation models, such as Malibu, and tools like code completion engines, are designed to accelerate software development securely and privately, ideal for regulated industries. 

In 2024, the company secured $400 million which will be used to accelerate the company's growth, improve its technology and expand its marketing activities.

23. Wildstone (UK)
Amount raised in 2024: £350 million

Wildstone is a leading European owner and operator of outdoor media infrastructure, specializing in digital and traditional roadside advertising assets. 

With over 14 years of experience, the company is at the forefront of the digital transformation in the outdoor media sector, offering high-quality, innovative advertising solutions. 

The company focuses on driving the future of outdoor advertising through cutting-edge technology and strategic site acquisitions.

In 2024, the company secured £350 million in infrastructure refinancing with Deutsche Bank to expand its out-of-home advertising footprint further around the UK and Europe.

22. SeQura (Spain)
Amount raised in 2024: €410 million

SeQura is a payment technology company that helps merchants attract and retain customers by offering flexible, user-friendly payment solutions. 

The company uses advanced risk-scoring tools to provide credit to shoppers who might be excluded otherwise, achieving high acceptance rates for its services. 

SeQura has raised over €410 million in 2024 to expand its operations into three new international markets: the United States, the United Kingdom, and Germany.

21. Volvo Car Corporation (Sweden)
Amount raised in 2024: €420 million

Volvo Cars is a Swedish luxury car manufacturer known for its focus on safety, innovation, and sustainability. 

The company produces a wide range of vehicles, including electric cars, and aims to become fully electric by 2030. Volvo continues to lead in safety technology and sustainable design. 

In 2024, it secured a €420 million financing agreement with the European Investment Bank to support its electrification and carbon neutrality goals.

20. Helsing (Germany)
Amount raised in 2024: €450 million

Helsing is an AI company focused on developing advanced solutions for defence and security. 

The company enhances military capabilities, situational awareness, and decision-making through AI-driven systems for threat detection, surveillance, and autonomous operations. 

The company raised €450 million in Series C funding in 2024, which will be used for product development and R&D, focusing on strengthening European sovereignty and protecting the NATO Eastern Flank.

19. Insider (Turkey)
Amount raised in 2024: $500 million

Insider is a B2B SaaS platform that helps enterprise marketers create personalized, cross-channel customer experiences. 
By integrating customer data and using AI-powered insights, Insider delivers tailored content via Web, App, Email, SMS, and messaging apps like WhatsApp and Facebook Messenger. 

In 2024, the company achieved unicorn status and secured $500 million in Series E funding, bringing its total funding to over $772 million.

18. Sunfire (Germany)
Amount raised in 2024: €500 million

Sunfire is a cleantech scale-up driving Europe toward climate neutrality by advancing electrolysis technology. 

With a strong focus on machine engineering, cross-industry collaboration, and project innovation, the company delivers cutting-edge solutions worldwide. Headquartered in Germany and Switzerland, Sunfire maintains strong supplier networks and partnerships to ensure quality. 

In 2024, the company raised over €500 million to support Europe's green hydrogen economy.

17. Odoo (Belgium)
Amount raised in 2024: €500 million

Odoo is an open-source business application suite that integrates various operations, including CRM, sales, accounting, HR, and more. 

Its modular design provides a seamless and customizable alternative to traditional enterprise solutions like SAP and Oracle. 

In 2024, the company raised €500 million in secondary capital, achieving a valuation of €5 billion.

16. HR Path (France)
Amount raised in 2024: €500 million

HR Path is a global leader in human resources consulting, specializing in HR strategy, HRIS implementation, payroll management, and talent management. 

With a presence in over 22 countries, it serves clients ranging from small businesses to large corporations. Known for its industry expertise and innovative solutions, HR Path helps organizations optimize HR processes. 

In 2024, the company secured a €500 million investment to fuel its growth and expand its market share through new acquisitions.

15. team.blue (Belgium)
Amount raised in 2024: €550 million

team.blue is a collaborative ecosystem of over 60 successful brands working across regions to deliver comprehensive online solutions. 

With a team of more than 2,500 experts, it serves over 3.3 million customers across Europe and beyond. 

The group combines traditional hosting services, such as domain names and server hosting, with specialized SaaS offerings, including marketing tools and collaboration solutions. 

In 2024, team.blue secured a €550 million investment, bringing its valuation to €4.8 billion.

14. Bicycle Therapeutics (UK)
Amount raised in 2024: $555 million

Bicycle Therapeutics is a clinical-stage biopharmaceutical company developing a novel class of therapeutics using bicyclic peptides. 

These fully synthetic molecules incorporate small-molecule scaffolds that enhance their structural stability and enable high-affinity target binding. This unique design positions Bicycle Therapeutics as a leader in developing treatments for cancer and other serious diseases. 

In 2024, the company raised $555 million through a private equity placement.

13. Monzo (UK)
Amount raised in 2024: £500 million

Monzo is a UK-based digital bank that offers a range of financial services through a user-friendly mobile app. Founded in 2015, it provides personal and business accounts, budgeting tools, savings options, and international payments. 

The app allows users to manage finances in real-time, track spending, and set savings goals. Known for its customer-focused approach, Monzo has become a leading challenger bank in the UK. 

In 2024, the company raised £500 million in funding.

12. Mistral AI (France)
Amount raised in 2024: €615 million

Mistral AI is a leading provider of open-weight generative AI models, designed to support developers with customizable, high-performance AI tools. Their models, such as Mistral Large and Mixtral, are available for deployment across cloud platforms and on-premises. 

The company focuses on openness, portability, and value, offering AI solutions that enable businesses to create unique applications. Mistral’s models are trusted by startups and large enterprises alike, providing cutting-edge, cost-effective AI capabilities.

The company raised €615 million over two rounds in 2024.

11. Zenobe Energy (UK)
Amount raised in 2024: €655 million

Zenobe develops and operates battery solutions to store renewable energy, stabilize the grid, and power electric vehicles, with an emphasis on repurposing batteries at the end of their lifecycle. 

The company collaborates with clients to reduce emissions, ensure reliable clean energy, and innovate in battery applications. 

In 2024, Zenobe secured over €655 million to accelerate electric bus deployment in the UK and enhance Scotland’s renewable energy leadership.

10. Nebius (Netherlands)
Amount raised in 2024: $700 million

Nebius is a cloud platform designed for AI explorers, offering powerful GPU solutions to accelerate machine learning and AI model development. 

The company provides a full-stack AI environment, featuring NVIDIA GPUs, on-demand resources, and managed services for model training and deployment. Nebius supports AI practitioners with optimized infrastructure, flexible tools, and expert support, aiming to create an efficient and scalable cloud for data-intensive workloads. 

Just six weeks after getting back on the Nasdaq after a three-year break, Nebius raised $700 million in private placement financing.

9. Polestar (Sweden)
Amount raised in 2024: $950 million

Polestar is a global producer of premium electric performance vehicles, committed to innovation and sustainability.

The company aims to expand its lineup to five performance EVs by 2026, with a bold objective of creating a climate-neutral car by 2030. Current models include the Polestar 1, a hybrid GT with 609 HP and a 124 km electric range, and the Polestar 2, an electric fastback launched in 2019. The Polestar 3, an electric SUV, debuted in 2022, followed by the Polestar 4, an SUV coupé, set to roll out through 2024. Future additions include the Polestar 5, a four-door GT, and the Polestar 6, an electric roadster.

Earlier in 2024, Polestar secured a $950 million three-year loan facility to support its next phase of development and meet its financing needs.

8. Abound (UK)
Amount raised in 2024: £800 million

With a mission to revolutionize global credit decisions, Abound aims to make loans accessible at rates people can afford, advancing financial inclusion.

The company’s AI platform, Render, analyzes bank transaction data to evaluate individual financial situations and determine manageable monthly repayments. Unlike traditional credit checks based on averages, Render provides a personalized approach, reducing defaults by 75% compared to industry norms.

In 2024, Abound secured £800 million to further expand access to fair credit solutions.

7. Wayve (UK)
Amount raised in 2024: $1.05 billion

Wayve is a pioneer in autonomous vehicle technology, specializing in AV2.0 with end-to-end deep learning for scalable autonomous driving.

Supported by experts in machine learning and robotics, Wayve aims to create a smarter, safer, and more sustainable future.

In 2024, the company raised $1.05 billion in a Series C round led by SoftBank, with backing from NVIDIA, Microsoft, and others. The company also partnered with Uber to integrate its software into Uber's taxi network, with Uber making a strategic investment as part of the Series C extension.

6. Enpal (Germany)
Amount raised in 2024: €1.1 billion

Enpal is a renewable energy company focused on delivering solar energy solutions for homeowners.

The company provides seamless solar panel installation, along with maintenance and monitoring services, enabling customers to produce clean electricity and lower their carbon footprint.

In 2024, Enpal secured over €1.1 billion in refinancing to support residential solar systems.

5. SumUp (UK)
Amount raised in 2024: $1.5 billion

SumUp is a global financial technology company offering small businesses accessible and cost-effective payment solutions.

Founded by a dedicated team with a vision to empower small business owners to succeed while pursuing their passions, SumUp now supports over 4 million businesses with their payment needs.

Last year, the company secured €1.5 billion in an oversubscribed funding round led by Goldman Sachs, backed by private credit lenders.

4. Imec (Belgium)
Amount raised in 2024: €2.5 billion

Imec is the world's leading independent research and innovation centre specializing in nanoelectronics and digital technologies. 

Combining a diverse talent pool, state-of-the-art infrastructure, and a vast partner network, Imec drives breakthroughs toward creating microchips that are smaller, faster, more affordable, and more sustainable. 
By integrating nanotechnology expertise with data and AI, Imec develops applications that contribute to a smarter, better future. 

In 2024, the company raised €2.5 billion for an advanced chip tech R&D pilot line.

3. Automotive Cells Company (ACC) (France)
Amount raised in 2024: €4.4 billion

ACC is an innovative company driving advancements in the modern energy sector, with a strong focus on electric vehicle (EV) battery technology.

The company operates an R&D Expertise Center in Bruges (Bordeaux) and a state-of-the-art Pilot Plant in Nersac, France. In late 2023, ACC commenced production at its first Gigafactory in Billy-Berclau Douvrin, Hauts-de-France.
As production scales up in 2024, ACC is optimizing its approach to develop cost-efficient cell chemistries with reduced cobalt and nickel content, aiming to make EVs more accessible. Dedicated to global expansion, ACC is cultivating a robust network of R&D experts, industrial collaborators, and suppliers while inviting those passionate about sustainable transportation to join its mission.

In 2024, the company raised €4.4 billion in debt financing to support the construction of three gigafactories for lithium-ion battery cell production in France, Germany, and Italy, as well as to enhance its R&D efforts.

2. Stegra (Sweden)
Amount raised in 2024: €4.7 billion

Stegra (previously H2 Green Steel) is a pioneering company in green steel production.

The company is committed to transforming the steel industry by developing sustainable manufacturing processes that significantly reduce carbon emissions, offering a renewable alternative to conventional methods.

In 2024, the company secured €4.7 billion to propel its plans for the world’s first large-scale green steel plant in Boden, Sweden.

1.Northvolt (Sweden)
Amount raised in 2024: €5.6 billion

Northvolt is dedicated to producing sustainable lithium-ion batteries for electric vehicles and energy storage systems.

Driven by a mission to expedite the shift to renewable energy, the company provides top-quality, environmentally friendly battery solutions. Northvolt prioritizes innovation and sustainability in its manufacturing practices to meet the growing need for clean energy technologies.

The company secured over €5.6 billion across three major deals in 2024.

However, later in the year, Northvolt filed for Chapter 11 bankruptcy protection in the US, a significant setback to Europe's efforts to reduce reliance on Chinese battery manufacturing.