Healthtech continued to demonstrate its strength in Europe in the first half of 2025, attracting €4 billion in funding, around 12 per cent of the €33.7 billion raised across all European tech sectors. Although healthtech accounted for just 237 deals out of 1,923 total tech transactions (about 12 per cent), it delivered some of the largest rounds of the year, underscoring investor appetite for innovation in biotech, digital health, and medical devices.
The top ten healthtech deals alone brought in over €2.1 billion, more than half of the sector’s total. The UK dominated the rankings with five of the ten biggest rounds, while Sweden and the Netherlands also stood out. Spain, Switzerland, and Ireland each contributed major rounds.
This concentration of capital signals both the maturity of European healthtech and its growing role in tackling global challenges, from AI-driven drug discovery to obesity treatment, surgical robotics, and digital-first care delivery.
Here are the 10 biggest healthtech deals in H1 2025.
Isomorphic Labs (UK)
Amount raised in H1 2025: $600M
Isomorphic Labs is a company with the mission to “solve all diseases.”
Building on DeepMind’s AlphaFold, it combines advanced AI and drug discovery expertise to model biological complexity digitally. By creating predictive and generative models, the company designs novel molecules, predicts drug behaviour, and accelerates the development of new therapies. Its approach aims to transform how humanity understands, treats, and ultimately cures diseases.
In March, Isomorphic Labs raised $600 million in its first external funding round to accelerate its AI drug design engine and advance therapies into the clinic.
Verdiva Bio (UK)
Amount raised in H1 2025: $411M
Verdiva Bio is a company on a mission to transform the lives of millions living with obesity and related cardiometabolic disorders by developing next-generation, more patient-friendly therapies.
Its lead asset, VRB-101, is an oral, once-weekly GLP-1 peptide with promising efficacy and dosing convenience demonstrated in a Phase 1 study. Verdiva also advances a robust pipeline of oral and injectable amylin agonists, both alone and in combination, designed for enhanced efficacy, tolerability, affordability, and access. Leveraging gut-brain biology and a team with proven drug-development expertise, Verdiva is poised to address significant unmet needs in obesity and cardiometabolic care.
In January, Verdiva Bio launched with a $411 million Series A financing round, backing development of its next-gen oral and injectable obesity and cardiometabolic treatments.
Neko Health (Sweden)
Amount raised in H1 2025: $260M
Neko Health is a preventive healthtech company headquartered in Stockholm, with clinics in Stockholm and London.
The company delivers a groundbreaking health check, the Neko Body Scan, that uses non-invasive, AI-enabled technology to capture millions of data points (skin imaging, cardiovascular metrics, bloodwork, etc.) in under an hour. Clients receive instant results and an unhurried doctor consultation, empowering early detection and personalised care to shift healthcare from reactive to proactive. The team spans over 100 doctors, researchers, and engineers across Europe.
Neko Health secured $260 million in Series B funding in January to fuel US and European expansion and boost R&D in its preventive health scanning technology.
CMR Surgical (UK)
Amount raised in H1 2025: $200M
CMR Surgical is a British medical device company founded in 2014 and headquartered in Cambridge, UK.
Their flagship product, Versius, is a compact, modular, and portable robotic system designed to advance minimal access surgery, also known as keyhole surgery, by enhancing precision, surgeon ergonomics, and operational flexibility. Versius seamlessly integrates into existing operating-room workflows without requiring infrastructure changes, accelerating surgeon adoption through familiar port placements.
CMR's mission centres on expanding access to robotic-assisted surgery globally, leveraging innovative deployment and financing models to benefit both patients and healthcare systems.
In April, CMR Surgical raised over $200 million in a financing round (combining equity and debt) to drive global expansion and innovation.
Cera (UK)
Amount raised in H1 2025: €150M
Cera is a digital-first home healthcare provider. It enables longer, healthier lives at home by shifting services like nursing, telehealth, repeat prescriptions, and in-home care out of hospitals.
Powered by AI and machine learning, its platform empowers carers with smarter planning and early detection tools, predicting and preventing deterioration up to 30 times faster than traditional methods, significantly reducing hospitalisations. With nearly 10,000 carers delivering over 60,000 daily in-home visits across the UK, Cera is shaping the future of connected, preventative healthcare.
In January, Cera secured $150 million in a combined debt and equity financing round to scale its AI-driven home healthcare platform.
Azafaros (Netherlands)
Amount raised in H1 2025: €132M
Azafaros is a company developing new treatments for rare genetic diseases called lysosomal storage disorders. Its lead medicine, nizubaglustat, is an oral drug designed to reach the brain and target the underlying cause of diseases such as GM1/GM2 gangliosidoses and Niemann-Pick type C.
Founded in 2018 and based in the Netherlands, Azafaros is backed by European investors and is preparing to start Phase 3 clinical trials to bring the first disease-modifying therapy to patients in need.
In May, Azafaros raised €132 million in an oversubscribed Series B round to advance its lead therapy.
SpliceBio (Spain)
Amount raised in H1 2025: $135M
SpliceBio is a clinical-stage genetic medicines company based in Barcelona, pioneering Protein Splicing, an innovative gene therapy platform, to deliver large genes that exceed the limitations of traditional AAV vectors.
Its lead program, SB-007, is a dual AAV therapy currently in Phase 1/2 trials for Stargardt disease, aiming to restore full-length protein expression in retinal cells. With a strong, experienced team and a growing pipeline across ophthalmology and neurology, SpliceBio seeks to broaden the impact of gene therapy where there are no current options.
In June, SpliceBio closed a $135 million Series B financing to advance its lead gene therapy candidate for Stargardt disease and expand its genetic medicine pipeline.
GlycoEra (Switzerland)
Amount raised in H1 2025: $130M
GlycoEra is a pioneering biotech company based in Switzerland and the US, transforming autoimmune disease treatment through its novel CustomGlycan platform.
By engineering bispecific biologics that selectively target and degrade disease-driving circulating proteins, especially autoantibodies like IgG4, it offers unmatched speed, precision, and safety compared to traditional immunosuppressive therapies.
In. May, GlycoEra closed an oversubscribed $130 million Series B financing to advance its lead IgG4-targeted protein degrader into human trials, bring a second program into the clinic, and expand its precision immunology pipeline.
CeQur (Switzerland)
Amount raised in H1 2025: $120M
CeQur is a diabetes technology company simplifying mealtime insulin delivery with its innovative CeQur Simplicity™, a discreet, wearable patch that eliminates the need for injections.
Based in Switzerland, with US, CeQur offers injection-free mealtime dosing using a flexible cannula, enabling convenient one-click insulin delivery for up to four days per patch. Clinically shown to reduce A1C and boost time-in-range, it enhances adherence and helps people with type 1 and type 2 diabetes manage their health more easily.
CeQur closed a $120 million equity financing round in January to accelerate commercial growth.
Fire1 (Ireland)
Amount raised in H1 2025: $120M
FIRE1 is a Dublin-based, clinical-stage medtech innovator focused on transforming heart failure care.
Born from The Foundry incubator in Menlo Park, the company has developed NORM, an investigational remote monitoring system that directly measures fluid levels via the inferior vena cava. With a simple same-day implant, wearable activation belt, and connected patient–clinician app, NORM empowers patients to monitor their heart health at home and stay connected to medical teams.
In January, FIRE1 secured $120 million in financing to expand operations and development of its heart failure management solutions.
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