2023 has seen a surge in interest in generative AI, as recent developments like OpenAI’s ChatGPT and Stable Diffusion are beginning to have a big impact on the way tech companies do business.
But European investors drew back slightly on AI last year, with $23.1bn invested in startups in the space — compared to $39.2bn in 2021 and $24bn in 2020, according to Dealroom.
This might be explained by deeptech investments being more focused on blockchain technologies, as many funds flocked to Web3 and the metaverse. But which funds did remain interested in the space? Sifted analysed data from Dealroom (searching for investments tagged “artificial intelligence” or “machine learning”) to find out.
The 11 most active investors in AI from 2022
1/ The European Innovation Council
HQ: Brussels
Fund focus: The EU’s vehicle for investing in impact technologies and research projects, from university research, to seed-stage startups and larger scaleups
Number of investments into AI startups in 2022: 43
2/ Bpifrance
HQ: Paris
Fund focus: France’s state-owned investment bank and sovereign wealth fund that invests across a wide range of tech sectors and stages
Number of investments into AI startups in 2022: 23
3/ Index Ventures
HQ: London
Fund focus: Sector agnostic fund investing in tech companies from seed stage to IPO
Number of investments into AI startups in 2022: 21
4/ Speedinvest
HQ: Vienna
Fund focus: Sector agnostic tech investor backing companies from seed to early stage
Number of investments into AI startups in 2022: 20
5/ Innovation Norway
HQ: Oslo
Fund focus: The tech investment arm of Norway’s sovereign wealth fund, backing Norwegian startups
Number of investments into AI startups in 2022: 19
6/ btov Partners
HQ: Berlin
Fund focus: Invests in European seed and Series A startups with a focus on AI, digital health, fintech, logistics, B2B SaaS and marketplaces
Number of investments into AI startups in 2022: 14
7/ Eight Roads Ventures
HQ: London
Fund focus: Fund investing in early-stage to growth-stage startups, with a focus on consumer, enterprise, fintech, healthtech and pharma
Number of investments into AI startups in 2022: 11
=8/ Global Founders Capital
HQ: Berlin
Fund focus: Sector agnostic fund investing from seed to growth stage
Number of investments into AI startups in 2022: 10
=8/ Entrepreneur First
HQ: London
Fund focus: Sector agnostic accelerator and investor backing early-stage founders globally
Number of investments into AI startups in 2022: 10
=8/ High-Tech Gründerfonds
HQ: Berlin
Fund focus: Early-stage fund investing in software, medtech and climate tech
Number of investments into AI startups in 2022: 10
=8/ Startup Wise Guys
HQ: Tallinn
Fund focus: Accelerator and investor backing early-stage B2B startups
Number of investments into AI startups in 2022: 10
