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November 28, 2023

The top takeaways from Atomico’s State of European Tech report

Funding is down — but the picture isn't as grim as you might think

Atomico’s 2023 State of European Tech report paints a topsy-turvy picture of European tech. 

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A bar chart showing the total amount of capital invested ($bn) in Europe, 2014 to 2023, from Atomico's State of European Tech report.
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Bar chart from Atomico's State of European tech report showing the number of first-time and repeat founders starting new companies per year, 2019-2023.
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Bar chart showing the total number of European tech industry employees between 2018 and 2023.
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Bar chart showing the number of $100m+ rounds 2014 to 2023 European tech.
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Bar chart showing the share of rounds that were bridge rounds by stage, 2019 to 2023, from Atomico's State of European Tech report.
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Percentage bar chart showing the capital invested in Europe by geographic source region, 2019 to 2023.
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A chart showing the opinion of founders on the question, is it easier or harder to raise VC in Europe than it was 12 months ago.
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A chart showing what founders anticipate being their company's biggest commercial, operational and financial challenges.
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A bar chat showing the share of capital raised and the share of rounds raised by founding team gender composition, from Atomico's State of European Tech report.
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Bar chart showing the number of tech employee layoffs announced per month, 2022 to 2023.
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Line chart showing the percentage share of AI/ML capital invested to total capital invested in the Europe and the US, between 2014 and 2023, from Atomico's State of European Tech report.
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Bar chart showing the amount of dry powder ($bn) by fund stage focus per year, 2013 to 2022.

Kai Nicol-Schwarz

Kai Nicol-Schwarz was a senior reporter at Sifted. He covered AI and UK tech.

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