April 2026's top 10 European tech deals you need to know about

European tech activity in April 2026 remained broadly stable compared to March, although overall funding volumes declined more noticeably.

The ecosystem recorded 290 funding deals and €5.1 billion raised, compared to 292 deals and €7.5 billion in March, reflecting a marginal 0.7 per cent decrease in deal activity and a 32 per cent decline in total capital raised.

At the country level, the UK maintained its position as the leading funding hub despite lower investment volumes. UK funding reached €1.9 billion in April, down from €2.6 billion in March, representing a 27 per cent decrease month-on-month.

Sector trends also shifted during the month. Cleantech led in April with €1.3 billion raised, while AI dominated in March at €1.8 billion, indicating a rotation of investor focus between key technology sectors rather than a continuation of a single dominant theme.

Exit activity softened further in April, declining from 52 exits in March to 35, a 33 per cent decrease, pointing to weaker liquidity conditions across the market.

Alexander Kölpin, Managing Director & Partner at seed+speed Ventures, commented on the April numbers within the European tech investment landscape in our April Tech.eu Pulse, a compact version of the monthly report:

The landscape of European tech in April 2026 paints a clear, if bifurcated, picture. The headline figures (a slight drop in total investment volume to €5.1 billion and fewer M&A exits) suggest a market tightening its belt.
From my vantage point as an investor focused on B2B and enterprise solutions, this contraction is a necessary maturation. The era of unchecked growth at any cost is long over. What matters now most is: execution, market-fit, and a clear path to revenue.
However, funding remains robust and even spectacular in critical, capital-intensive themes, most notably with big deals in Cleantech (Σ €1.3 billion in Sweden) and Artificial Intelligence (Σ €1.2 billion in the UK).
If we abstract from those single, dominating deals, we see clear winners in the spaces we VCs talk about amongst our peers: semiconductors, robotics, HW, deep tech and obviously AI, AI, AI.

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 April report.

Here are the 10 largest tech deals in Europe from April, accounting for 62.7 per cent of the month’s total funding.

1

Stegra (Sweden)

Amount raised: €1.4B

Stegra (formerly H2 Green Steel) is a Swedish industrial company focused on decarbonising hard-to-abate industries through the production of green hydrogen, green iron, and near-zero-emission steel.

Founded in 2020, the company is developing one of the world’s first large-scale green steel plants in Boden, Sweden, using renewable electricity and hydrogen to significantly reduce CO₂ emissions compared to traditional steelmaking processes.

Stegra secured €1.4 billion in additional funding from a consortium led by Sweden’s Wallenberg family to support the completion of its green steel plant project.

2

Ineffable Intelligence (UK)

Amount raised: $1.1B

Ineffable Intelligence is a London-based artificial intelligence research company focused on developing “superlearner” AI systems that can acquire knowledge and skills through experience rather than relying solely on human-generated data.

Founded by former DeepMind researcher David Silver, the company specialises in reinforcement learning and aims to advance AI capabilities across science, engineering, and other complex domains.

Ineffable Intelligence has emerged from stealth mode and announced $1.1 billion in seed funding at a reported valuation of $5.1 billion.

3

Aura Aero (France)

Amount raised: €340M

AURA AERO is a French aerospace company developing low-carbon and hybrid-electric aircraft for regional transport and pilot training.

Founded in 2018 and headquartered in Toulouse, the company focuses on accelerating aviation decarbonization through innovative aircraft design, digital technologies, and sustainable manufacturing solutions.

AURA AERO secured €340 million in funding to support its operations and expansion plans in Toulouse and Florida.

4

CamGraPhic (UK)

Amount raised: €211M

CamGraPhIC is a deeptech company developing graphene-integrated photonic circuits for telecommunications, data centres, and AI infrastructure.

Founded as a spinout from the University of Cambridge, the company focuses on energy-efficient optical interconnect technologies designed to deliver higher bandwidth, lower latency, and reduced power consumption compared to conventional silicon photonics solutions.

CamGraPhIC secured €211 million from the EU to build graphene tech for faster AI data transfer.

5

Xoople (Spain)

Amount raised: $130M

Xoople is an intelligence and data infrastructure company developing AI-ready geospatial data systems to monitor physical changes on Earth in real time.

Founded in 2019, the company combines satellite technology, artificial intelligence, and cloud infrastructure to help enterprises and governments improve decision-making across areas such as supply chains, infrastructure monitoring, agriculture, and risk management.

Xoople raised $130 million in a Series B funding round as it expands commercialisation efforts for its real-time geospatial data platform designed to support AI applications across industries.

6

Verda (Finland)

Amount raised: $117M

Verda (formerly DataCrunch) is an AI cloud infrastructure company providing GPU-powered cloud computing services for artificial intelligence training and inference workloads.

The company focuses on delivering scalable, energy-efficient, and sovereign AI infrastructure for enterprises, startups, and research organisations across Europe.

Verda raised $117 million to scale AI cloud infrastructure built on clean Nordic power.

7

Sereact (Germany)

Amount raised: $110M

Sereact is an AI robotics company developing vision-language-action models that enable robots to autonomously perform complex physical tasks in logistics, warehousing, and manufacturing environments.

Founded in 2021, the company focuses on hardware-agnostic embodied AI software that allows robots to perceive, reason, and adapt to real-world conditions with minimal programming or human intervention.

Sereact closed a $110 million Series B funding round, with the proceeds intended to support development of its latest AI model and the company’s expansion into the US market.

8

Cloudsmith (UK)

Amount raised: $72M

Cloudsmith is a software infrastructure company that provides a cloud-native platform for managing, securing, and distributing software packages and containers across the software supply chain.

Founded in 2016, the company helps enterprises centralise artefact management, improve software governance, and support secure software development workflows at a global scale.

Cloudsmith raised $72 million in Series C to secure the AI-era software supply chain.

9

Raspberry Pi (UK)

Amount raised: £50M

Raspberry Pi is a technology company that designs and manufactures low-cost, high-performance single-board computers, microcontrollers, and embedded computing products for education, industry, and consumer applications.

Originally created to promote computer science education, Raspberry Pi’s platforms are now widely used in areas including industrial automation, IoT, robotics, and software development.

Raspberry Pi raised £50 million in investment from a subsidiary of semiconductor company Arm Holdings.

10

MillTech (UK)

Amount raised: $60M

MillTech is a fintech company providing FX and cash management solutions for investment managers, corporates, and institutional clients.

Founded in 2019, the company offers a cloud-based platform that helps clients automate foreign exchange workflows, manage liquidity, reduce operational risk, and access institutional-grade treasury services.

MillTech received a $60 million to support expansion in North America and further development of its treasury management platform.

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