October 2025 closed with €8.3 billion raised across 342 deals, slightly softer than September, down 1.2 per cent in value and 6.8 per cent in deal count.
Year over year, activity was markedly stronger: investment volume more than doubled, and the number of deals rose 8.2 per cent versus October 2024 (€4.0 billion across 316 deals).
Funding was broadly spread but led by 🇫🇮 Finland (€1.63 billion), followed by 🇬🇧 the UK (€1.55 billion), 🇩🇪 Germany (€1.40 billion), 🇮🇹 Italy (€842.5 million), and 🇫🇷 France (€738.6 million). Together, these five made up about 56.6 per cent of the total capital.
By sector, healthtech dominated with €1.7 billion, ahead of fintech (€1.1 billion) and software (€928.2 million), which together represented 44.9 per cent of the month’s volume.
Giovanni Canetta Roeder, Founder & Managing Partner at Planven, commented on the October numbers within the European tech investment landscape in our October Tech.eu Pulse, a compact version of the monthly report:
As a scale-up Pan-European investor, we partner with founders at the stage where the challenge shifts from building a product to building a global company. That means international expansion, go-to-market acceleration, and leadership scaling.
Our focus is helping European companies become global category leaders, not regional players.
For his more detailed review and in-depth analyses of the European tech ecosystem, including industry and country performance, exit activities, and more, check out our October report.
Here are the 10 largest tech deals in Europe from October, accounting for approximately 56.6 per cent of the month’s total funding.
Nokia (Finland)
Amount raised: $1B
Nokia is a B2B networking technology company that empowers industries and enterprises with high-performance, secure, and intelligent networks.
The company draws on its heritage of innovation to develop future-proof solutions spanning cloud and digital infrastructure, mobile and fixed access networks, and enterprise edge computing.
Nokia has entered a strategic partnership with Nvidia, which includes a $1 billion equity investment from the US company. The collaboration focuses on applying artificial intelligence to enhance telecommunications networks and data centre development.
Oura Health (Finland)
Amount raised: $900M
Oura Health is a health-technology company specialising in advanced wearable devices and insights.
Founded in Finland, the company’s mission is to make health a daily practice, and it combines thoughtful design with cutting-edge sensors to create its flagship product, the Oura smart ring.
The Oura smart ring tracks a wide range of biometric signals, sleep quality, readiness, activity levels, heart rate, body temperature, and stress metrics, providing users with personalised data and actionable insights via a dedicated mobile app.
With a strong focus on data privacy and research-driven development, Oura maintains compliance with stringent standards and employs an interdisciplinary science team to ensure accuracy and trustworthiness.
Oura has raised over $900 million in a new funding round, valuing the startup at “approximately $11 billion”, as reported.
Enpal (Germany)
Amount raised: €700M
Enpal is a Berlin-based German greentech company founded in 2017, offering integrated renewable-energy solutions for homeowners.
The company provides solar-photovoltaic systems, battery storage, EV-charging wallboxes, heat pumps and a smart energy-management platform, all bundled into an all-in-one service.
With a mission to make green energy accessible and affordable, Enpal lets customers rent or buy systems starting with no upfront deposit, aiming to reduce energy bills and reliance on fossil-fuel electricity.
Enpal secured a €700 million ABS facility with M&G for residential solar and heating loans.
Bending Spoons (Italy)
Amount raised: $710M
Bending Spoons is an Italian software company headquartered in Milan, founded in 2013.
The company develops and publishes high-volume mobile applications and undertakes strategic acquisitions of established digital products.
francescatabor.com
Known for its data-driven approach to app monetisation, Bending Spoons builds commercially strong, subscription-oriented businesses rather than chasing rapid, VC-fuelled growth.
Bending Spoons raised $710 million at $11 billion valuation, one day after buying AOL.
Younited (France)
Amount raised: €400M
Younited is a fintech company specialising in instant consumer credit. Licensed as a credit institution under the supervision of the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and the European Central Bank, the company leverages a data-driven technology platform, open banking APIs and artificial intelligence to deliver seamless credit and payment solutions to households and merchants alike.
Based in Paris, France, Younited now serves customers across multiple European countries (including France, Italy, Spain, and Portugal) and supports both direct-to-consumer lending and partner integrations for retailers and banks.
The company secured €400 million warehouse financing from Citi to expand consumer credit in Europe.
Nscale (UK)
Amount raised: $433M
Nscale is a company that specialises in high-performance computing and AI infrastructure.
Nscale offers a vertically-integrated platform delivering GPU-cloud services, private AI clusters, and “AI-factories” powered entirely by renewable energy, designed for large-scale AI training, fine-tuning, and inference.
The company’s emphasis is on sovereignty, control and sustainability, allowing enterprises and governments to deploy AI workloads in data centres owned and operated by Nscale, meeting both performance and governance requirements.
Nscale has closed a $433 million funding round, just days after bagging a $1.1 billion funding round.
Tubulis Technologies (Germany)
Amount raised: €308M
Tubulis is a Munich-based German biotechnology company developing next-generation antibody-drug conjugates (ADCs) for the treatment of solid tumours.
Using proprietary platform technologies, including their “P5” conjugation chemistry and the “Tubutecan” linker-payload system, Tubulis designs highly stable, high drug-to-antibody-ratio ADCs aimed at improving delivery and reducing off-target toxicity.
Tubulis has raised €308 million in a Series C funding round to advance the clinical development of TUB-040, its lead antibody-drug conjugate (ADC) targeting NaPi2b, an antigen highly expressed in ovarian cancer and lung adenocarcinomas.
Return (Netherlands)
Amount raised: €300M
Return (formerly SemperPower) is a Dutch-based independent large-scale energy storage company headquartered in Amsterdam, Netherlands.
The company develops, owns and operates utility-scale battery energy storage systems (BESS) across Europe (including the Netherlands, Belgium, Germany and Spain) to help balance grids, integrate renewable energy and enable electrification.
Its mission is to “make clean energy work for everyone” by providing flexible, smart, efficient storage infrastructure and enabling customers like grid operators, utilities, major consumers and traders to access storage-as-a-service.
Return raised €300 million in growth capital to scale battery storage capacity.
Synthesia (UK)
Amount raised: $200M
Synthesia is a London-based AI company founded in 2017 that offers a platform enabling users to create professional-quality videos using synthetic avatars, voiceovers and text-to-video tools, without needing cameras, microphones or studios.
The platform supports over 140 languages, is designed for enterprises (including much of the Fortune 100) and emphasises both rapid video production and responsible AI usage.
Synthesia has closed a $200 million funding round that has valued it at $4 billion, as reported.
N8N (Germany)
Amount raised: $180M
n8n is a Berlin-based software company founded in 2019 that provides a fair-code workflow automation platform.
Its platform enables technical teams to build and automate complex, multi-step workflows by connecting apps, APIs and cloud services through a visual node-based interface, while also allowing custom scripting for added flexibility.
The company supports both self-hosted and cloud-hosted deployments, making it suitable for organisations with heightened data control or governance requirements.
N8N raised $180 million to expand its engineering offering, continue development of new features, and grow the team to support international expansion.
Would you like to write the first comment?
Login to post comments