Deeptech

Q1 202407.03.2024

Gen AI

Picture of Shubham Jaipuria

Shubham Jaipuria

at Sifted

European generative AI startups had a banner 2023 raising $1.5bn, a sharp increase from the $554m disbursed in 2022 (six mega-rounds of $100m+ in 2023, compared to just one of these in 2022, was the big difference). Just over two months into 2024, European startups have already pulled in $267m, almost half the sum the sector raised in 2022.

GenAI will upend millions of jobs - from GenAI co-pilots in healthtech and legaltech to AI agents having the potential to replace big swathes of the workforce. A basic know-how of GenAI tools will become integral in the future workplace. The generation split is not much of a bother either, with Gen Z being the most common users of GenAI — 63% of this cohort use the technology at least once a week. Millennials aren’t far behind at 42%. And this number is only going to increase as GenAI becomes an indispensable part of people’s workflows.

20 most promising early-stage startups

Sifted score
8.58
-
Reface
Facilitating engaging face swapping technology.
Strong investor(s)
Serial founder(s)
- Year founded
  2019
- HQ
  Kyiv, Ukraine
- Latest round
  Seed
  €5m / Dec 2020
- Total funding
  €5.3m
View company profile
Sifted score
8.35
-
Dust
AI assistants for enhanced team collaboration.
Strong investor(s)
Serial founder(s)
- Year founded
  2023
- HQ
  Paris, France
- Latest round
  Seed
  €5m / Jun 2023
- Total funding
  €5m
View company profile
Sifted score
8.34
-
Poolside AI
AI-driven software development advancement.
Strong investor(s)
Serial founder(s)
- Year founded
  2023
- HQ
  Paris, France
- Latest round
  Seed
  €90.9m / Aug 2023
- Total funding
  €114.5m
View company profile
Sifted score
8.22
-
Metaphysic
Automated generative AI for realistic content
Serial founder(s)
- Year founded
  2021
- HQ
  London, United Kingdom
- Latest round
  Seed
  €6.8m / Jan 2022
- Total funding
  €6.8m
View company profile
Sifted score
7.3
-
nyonic
Tailored multilingual AI models for industries.
Serial founder(s)
- Year founded
  2023
- HQ
  Berlin, Germany
- Latest round
  Seed
  €18.2m / Jul 2023
- Total funding
  €18.2m
View company profile

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