European and Israeli tech startups combined for €1.6 billion in funding in May 2016. This represents a 12% quarter-on-quarter uplift and an even bigger increase compared to the same month a year ago, when technology companies raised €789 million in the region.

As the graph above shows, if Spotify’s $1 billion (€910 million) debt round were to be excluded from the analysis, the European and Israeli funding landscape would show consecutive monthly increases in funding since February 2016, from €1.1 billion to €1.6 billion in May.

In total, 255 different tech companies raised funding last May, versus 266 in April and 138 in May 2015.

Following a significant increase in deal activity from 2015 to early 2016, the average number of funding rounds closed per month has remained stable over the past five months, at around 260.

So far this year, European and Israeli startups have raised €7.8 billion, versus €4.8 billion in the same period a year ago.

42 of May’s 255 investment rounds took place in the UK, combining for €402 million. France came in second, at 37 rounds and €89 million, and Sweden was third, with 34 funding deals and €55 million.

In terms of investment volume, Israel was first, with €618 million raised across 23 funding rounds, mostly thanks to large investments in companies such as Gett and Via, which also have a strong presence in the US market.

Stay tuned for our Q2 funding report, which we will publish in early July, and which will offer a clearer picture of the current status of the European and Israeli tech funding markets.

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Also read:

European Tech Funding Report for Q1 2016: we put a record-breaking quarter (€4.8 billion) under the microscope

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