Telecom: 10 companies that raised the most in 2025

European telecom companies raised €4.8 billion in 2025, with funding activity largely concentrated around network infrastructure, connectivity expansion, and next-generation communications technologies. Fibre broadband and satellite connectivity attracted the largest rounds.

Debt financing played a major role across the sector, particularly among mature infrastructure operators expanding fibre coverage and digital connectivity. The largest deals focused on scaling fibre networks and improving broadband access, including in rural and underserved areas.

At the same time, investors showed growing interest in satellite and space-based connectivity, reflecting broader momentum around satellite-enabled 5G, IoT connectivity, and defence-related communications infrastructure. AI and advanced networking technologies also emerged as key investment themes throughout the year.

Geographically, funding activity was spread across Europe, with notable deal volume in the UK, France, Spain, Italy, and the Nordic region. However, the market remained highly concentrated, with a small number of large infrastructure financings accounting for most of the capital deployed, while earlier-stage startups raised smaller rounds focused on specialised connectivity, AI, IoT, and satellite applications.

Overall, the sector’s funding activity suggests investors increasingly view telecom not only as core infrastructure, but also as a strategic foundation for AI deployment, industrial digitisation, IoT expansion, and Europe’s broader digital resilience (for more detailed analyses of the European technology ecosystem, check out Tech.eu’s annual report: European Tech 2025 - The Big Picture).

Here are ten AI companies that raised the most in 2025.

1

CityFibre (UK)

Amount raised in 2025: £2.3B

CityFibre builds and operates one of the UK’s largest independent full-fibre broadband networks, delivering gigabit-capable FTTP infrastructure to residential, business, public sector, and wholesale customers.

CityFibre secured £2.3 billion in financing in 2025 to expand its fibre network across the UK, add new residential and business connections, and explore acquisitions of additional fibre infrastructure assets.

2

Nokia (Finland)

Amount raised in 2025: $1B

Nokia develops network infrastructure, connectivity solutions, and digital technologies that support secure, high-performance communication across fixed, mobile, and cloud environments.

In 2025, Nokia secured a $1 billion equity investment from NVIDIA as part of a strategic partnership focused on bringing AI capabilities into telecom networks and advancing data centre infrastructure.

3

Inwit (Italy)

Amount raised in 2025: €350M

INWIT is an Italian telecommunications infrastructure company that develops and manages digital and shared network infrastructure, including telecom towers and indoor coverage systems, supporting mobile connectivity and wireless communication services across Italy.

In 2025, INWIT secured a €350 million loan from the European Investment Bank to support digitalisation and connectivity across Italy, including improving mobile coverage in rural areas.

4

Netomnia (UK)

Amount raised in 2025: €346.2M

Netomnia is a UK broadband infrastructure company that designs, builds, and operates full-fibre broadband networks, providing high-speed fibre-to-the-premises connectivity to homes and businesses across the UK.

In 2025, Netomnia secured €346.2 million to expand its fibre network in the UK.

5

GoFibre (UK)

Amount raised in 2025: £125M

GoFibre is a broadband provider that builds and operates full-fibre broadband networks, delivering high-speed internet connectivity to homes and businesses across rural and underserved communities in Scotland and northern England.

In 2025, GoFibre completed a £125 million funding round that will support its delivery of two Project Gigabit contracts in the South and North East of Scotland.

6

TalkTalk (UK)

Amount raised in 2025: £100M

TalkTalk is a UK telecommunications provider offering broadband, fibre internet, mobile, and home connectivity services to residential and business customers across the UK. The company focuses on delivering affordable connectivity solutions and expanding access to high-speed fibre broadband services.

TalkTalk secured a £100 million funding injection in 2025 from Ares to strengthen its financial position and support the broadband provider’s ongoing operations and refinancing efforts.

7

Sateliot (Spain)

Amount raised in 2025: €70M

Sateliot is a Spanish satellite telecommunications company developing a low Earth orbit satellite constellation that provides global 5G NB-IoT connectivity for IoT devices, enabling mobile network coverage in remote and underserved areas.

The company works with telecom operators to extend terrestrial cellular connectivity through satellite infrastructure.

Sateliot raised €70 million in Series B funding to expand its satellite constellation and strengthen global 5G-IoT connectivity services for remote, defence, and cybersecurity applications.

8

CAILabs (France)

Amount raised in 2025: €57M

CAILabs is a company developing photonics and optical communication technologies for telecommunications, aerospace, defence, and industrial applications. The company focuses on improving the performance and efficiency of high-speed optical data transmission networks.

In 2025, Cailabs raised €57 million to accelerate its industrial expansion and global growth.

9

Asteo Red Neutra (Spain)

Amount raised in 2025: €50M

Asteo is a Spanish telecommunications infrastructure company focused on developing and operating neutral fibre optic networks to improve high-speed connectivity for operators, businesses, and public institutions.

The company supports digital infrastructure projects aimed at expanding broadband access and improving regional connectivity across Spain.

Asteo secured €50 million in financing in 2025 from Allianz Global Investors to expand its rural FTTH fibre network across multiple regions in Spain.

10

Roamless (Türkiye)

Amount raised in 2025: $12M

Roamless is a mobile connectivity company offering global eSIM and roaming services that allow users to access mobile data across multiple countries without changing SIM cards or contracts.

The platform is designed to simplify international mobile connectivity for travellers through app-based data access and pay-as-you-go pricing.

Roamless raised $12 million in 2025 to further develop its mobile connectivity platform and expand features, including local numbers, B2B integrations, and AI-powered services.

1/10