According to the Tech.eu database, European tech companies raised €6.6 billion throughout January 2025. In comparison to the same period in previous years, January 2025 experienced a notable decline of about 60 per cent compared to 2024, but an increase of roughly 40 per cent compared to 2023.
Harry Haeck, Partner at Smartfin, commented on the January numbers within the European tech investment landscape in our January Tech.eu Pulse, a compact version of the monthly report:
The new year began with a major shift in AI as China’s DeepSeek released its open-source R1 model, challenging well-funded AI giants. This marks a fundamental shift in AI economics, allowing European startups to develop competitive AI solutions at a fraction of previous costs.
By reducing reliance on massive data centres and expensive model training, it lowers barriers to entry and presents a rare opportunity for Europe to regain ground in AI development, provided startups and investors act swiftly.
With modest rate cuts and stablising inflation on the horizon, optimism around venture capital activity is growing. At Smartfin, we remain optimistic and well-capitalised, ready to support Europe’s next wave of innovation.
2025 is off to a volatile yet promising start - adaptability will be key.
For his more detailed review and more in-depth analyses of the European tech ecosystem, including industry and country performance, exit activities, and more, check out our January report.
And here is the list of 10 biggest European tech deals in January which collected together around 51 per cent of the total amount collected this month.
NXP Semiconductors (Netherlands)
Amount raised: €1B
NXP Semiconductors is a semiconductor manufacturer specialized in designing purpose-built, rigorously tested technologies that enable devices to sense, think, connect, and act intelligently, thereby improving people's daily lives.
The company's solutions are integral to various sectors, including automotive, industrial, consumer, and communication infrastructure.
The company secured a €1 billion loan agreement with the European Investment Bank (EIB) to strengthen the semiconductor market in the EU and enhance the region's competitive chip supply.
Bees & Bears (Germany)
Amount raised: €500M
Bees & Bears is a platform that enables installation companies to offer flexible instalment payment options to their customers for renewable energy systems, including photovoltaic installations, energy storage solutions, and heat pumps.
The platform streamlines the financing process, allowing installers to create instalment offers in less than three minutes and providing real-time credit decisions within three seconds.
In its latest funding round, the company secured €500 million in financing from an unlisted bank in the DACH region.
Green Flexibility (Germany)
Amount raised: €400M
Green Flexibility is a company specializing in the development, construction, and long-term operation of large-scale battery storage systems across Europe.
Their mission is to enhance energy system flexibility, a critical factor in advancing the renewable energy transition. By implementing sustainable battery storage solutions, they aim to stabilize the power grid, mitigate fluctuations inherent in renewable energy sources like wind and solar, and reduce electricity price volatility.
Green Flexibility has secured over €400 million in funding from Partners Group to address the growing demand for grid stability and flexibility through battery storage while actively advancing the energy transition.
Verdiva Bio (UK)
Amount raised: $400M
Verdiva Bio is a clinical-stage biopharmaceutical company dedicated to developing next-generation therapies for individuals with obesity, cardiometabolic disorders, and related complications.
The company's lead candidate, VRB-101, is an oral GLP-1 peptide that has demonstrated promising efficacy in a phase 1 study, supporting the feasibility of once-weekly dosing. Verdiva's pipeline also includes various amylin-based therapies, both oral and injectable, aimed at enhancing efficacy, improving tolerability, and promoting healthier weight loss.
Verdiva Bio secured over $410 million in Series A financing to advance its innovative treatment portfolio.
Neko Health (Sweden)
Amount raised: $260M
Neko Health is a preventive healthcare technology company.
The company offers the Neko Body Scan, a comprehensive health assessment that maps millions of data points on the body using advanced sensors and AI. This non-invasive scan evaluates skin health, heart and arterial condition, blood sugar, cholesterol levels, and more, providing instant results followed by a personalized consultation with a doctor.
Neko Health aims to shift healthcare from reactive treatment to proactive prevention, helping individuals stay ahead of potential health issues.
The company raised $260 million Series B for preventative health scanning tech.
Sunfire (Germany)
Amount raised: €200M
Sunfire is a leading global provider of industrial electrolyzers, specializing in pressurized alkaline and solid oxide (SOEC) technologies.
Their innovative electrolysis solutions produce renewable hydrogen and syngas, offering climate-neutral alternatives to fossil fuels. These technologies are pivotal in decarbonizing industries traditionally reliant on oil, gas, and coal.
The company secured €200 million aimed to develop the hydrogen market.
TravelPerk (Spain)
Amount raised: $200M
TravelPerk is a business travel platform that empowers companies and travellers to connect in person with colleagues, clients, and partners. Their mission is to facilitate real-life connections in the most enjoyable and sustainable way possible.
By offering a user-friendly interface and a comprehensive suite of services, TravelPerk aims to make business travel more efficient, cost-effective, and enjoyable for organizations worldwide.
The company raised $200 million in its Series E round, doubling its valuation to $2.7 billion.
ElevenLabs (UK)
Amount raised: $180M
ElevenLabs is a software company specializing in advanced AI audio technologies, particularly natural-sounding speech synthesis using deep learning.
Founded in 2022, the company aims to make content universally accessible in any language and voice.
After raising $180 million, ElevenLabs has seen its valuation triple to $3.3 billion.
Synthesia (UK)
Amount raised: $180M
Synthesia is a leading AI video generation platform that enables users to create studio-quality videos featuring AI avatars and voiceovers in over 140 languages.
The company’s mission is to empower everyone to produce video content without the need for cameras, microphones, or studios.
Synthesia's innovative approach to video creation has been adopted by over 50,000 companies worldwide, including 60% of the Fortune 100, to streamline content production and enhance communication strategies.
The company has doubled its valuation to $2.1 billion, following a $180 million funding round.
Cera (UK)
Amount raised: €150M
Cera is a provider of digital-first home healthcare, revolutionizing the industry by transitioning services from hospitals to patients' homes.
The company's services include elderly care, live-in care, nursing and complex care, supported living, and assistance for individuals with learning disabilities.
Cera's innovative approach has positioned it as a leader in the healthcare-at-home sector, aiming to make healthcare more accessible and efficient for patients across Europe.
The company completed a $150 million investment round, jointly managed by BDT & MSD Partners and Schroders Capital.
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