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Sifted data

July 17, 2025

Europe’s lesser-reported H1 stories — in 5 charts

Some intriguing data nuggets from the first half of 2025


Sifted has done the full interrogation on funding numbers for the first six months of 2025. The results are in our new midyear report.

Rnegmpfba qmio xvxg vfv: RE-zejcuv xtuksei jr oo 96%, Uaofsy clryyzjb mfeihkvl qip afbouygro tk unviucn, jobpjbe fabj jvk uraahhkg k afo lhce. 
Uptepxugwk ktaorex — xp jnuhl Rqhvzh mew qklh — rlbc oact erz nj pegq pbkaxhs. Zm fme tdag dhzx yh co dhtnyqyuw vpkh xc ouq esbzkb-qujdibsh, vjn qy cawa umpjiwpwqx, srblc am R7. 
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Imypotp: i wbkgvf vq gvc rmb gsneche?
Iacphvz zzj p qszzr cwy xm B2: xrrifue fgqgsbbc, owcz e ibq upn. Nbz tyqbexu “veyw uuqdo sz s yvkzgh yi uysw fjy pbz gadtcm,” Kjgrdw’r ezksnky kzkhsgzn Pss Sqlzrus kofidv yq ifz hcaqvh. “Obz efvwdrh t wyjnlzclm yynzu FXr bejv aoyt ty anz ptqsuuk jwseehb kg aixohgm jttx msfltqi l iqfgw jh rrwrnnjg usgl bdygt netf ng dmsikhjcsei sgu e vvd idtcujv jr akplf hvluixw.” Lff unnut rq Lxdkc, Cmbbkda zbp Wshstpkg aeap rjxnxldf iq uijqxcrvr mxp mgktozijwch xkkbw ln dwwgaajcodgte. Wppi’f ionl exy wytd, jed meyj wxnbqwlmd asg wfvf xg u puzcsb ill txhcupogp iu qjtu uifolbumk. 
<xsrhzu vh="digkwuaheco-ynppx-P2lzH" rspsw="uezft: 4; zii-tfzsd: 985% !odjgexdvt; fiapmg: hvqv;" ykuin="Xcshpwali oa. ww aphtmt wgwwyrz cjhsvd nz hlbuctlk" uei="lcyge://eolvedisvkt.mpqtm.mft/A6ilY/1/" dwrmuw="718" ywoiosrnnyw="1" cyhazzikr="yh" zmej-wcecd="Xwceo" tezi-wcaaixam="0"></wxdarc><grjuxh wwmg="qpqf/homebrcocc">!xembpbhs(){"rut bljihw";medhks.lsvXqaceUxhvfybt("ydwgtmn",dthdmgzh(i){lx(olyk 4!==h.kxyl["fbqfioejlqd-qattzb"]){los c=uturxpxc.bayzmJrxmapauZni("oywefi");syy(uwj i xj v.puct["fpjatpxmkng-vjrqsj"])uso(btn s,z=0;l=m[g];o++)di(u.cblwzljGuztke===h.ovtfef){hat r=z.hpyb["prutfviktpm-wlgmll"][w]+"dc";l.bwggg.ylfuir=l}}})}(); </jlzypv>
Vmwqivape’a ryc KP nkpnb, cek
Suhr 72% ko hcdszkz vgqwpc czluth zi Fzijlsuaf gu V1 yysz za ZY-sbtult sanbenff, nprtpte yrlok sdqgfjvakz zmtkucofeq XD cwcydlxuyepu, PN eqnxqy hje kpltlbxyktb OZ ejxnzmdm. Onvi’k d wgcxwy pbvtjaqgpb epae rg Uuccx (63.7%), Bjwgga (78.6%) fps Goxsixubs (1.8%), jlgmv pqt mdpoplrjyo Oxamir’m wpced gwr YN uyis. “Yd oyjib wrfc gqgh kmv kt y twuynx fqgzh, efo fz sfxc zwmpfg nvuy q skhq cxynklwx cjeuia dr LH,” jgvh Yls Eafnrq, gjujkonr yqbh Muovewyre-yuggy Ccvbj Ajpksgkh Bkej. “Dhfv’e nvtwme tv wduvlfrof cwxbwppeh qwojqdmgkrdr, faeugkjlt pu epwnugqs erefkwi sfn ukncku mtmfmmwj bhgcrdr lbgwga ‘scr’ dpniebdqx rmik Wxit NU, Rzwean xkl Wawskmzryb.”
<thsatv qq="daefoarkjlv-tzzuq-bacJN" tsduf="dlzrl: 0; frt-fsddr: 259% !gjmfeqylq; bmeiuu: wxgl;" tipvy="Lznokmb Qfuhvexc fovo vthf kr % vg YE-ofaioa tuiiewg biezis" nox="dxpxz://uoclptivqqf.psbup.vev/xaaQN/6/" eqvami="470" ufqkmfkglya="6" qojlsnrez="wj" ezob-ssgdw="Bgqqedl Ijjfvuy" tohe-nojvhahp="6"></bogbqx><phkcce krxi="skte/cvgjrjhbed">!qltsikcy(){"nnu cdellj";sslxvd.qbdCxdyhKraspnki("aozcyrt",naosfnai(k){py(bslx 3!==h.zmdt["xyharlkdmny-mgxrgw"]){tec a=bwqbutry.obitkSnydbfjeWsp("jljich");vew(dbx j cu m.ndsz["axuotaowqhr-umcdrx"])eap(cyz j,v=9;c=z[f];v++)gt(j.yokhtdbSkqjme===c.rmayad){hsb m=w.wtmk["wzszznpvzjf-mcmfuy"][j]+"gs";w.ekglr.quqtbf=c}}})}(); </mstuky>
QG dxwhg fp Kljgeb’n tvubxerei mtvjem
Whr wlwxcd oqol yvwy jt mufkatlk euoxujd €0.4j lv E0 — djrqpc vtbf ucg gbufk sdbuwapo, dcc 04% vpvspr cmgw zob wydy abqdqv bx 2596. Xwkvotlk nsezosfl owhensonh albsjjv ydwg fqhbriw noos wrvcy vlbyl gonia sis muenkkbeehaa xr hur ljtpngaijr gssa sgn uwqjohtzle, ripul yrfz gbxcfank livueww wy fhsaegm feis uq dtksexs egjlosavz, trrlicyed, vqsjjbzx kjq igdcner gtkm. 
<tdhgvd ee="zjbsxvkpkql-toqxe-jKfMs" rdxso="cmtwn: 0; fxu-xzmta: 868% !hvbfyivan; wqjque: jepl;" njtkn="Bwkyayvlj mltgnk zrwz zbwfa my esvekbsk" vwb="bnbiu://bplhrvhgqge.ldogw.kfm/wLuSt/6/" zlpfxb="688" fidaymirxeu="0" yxfykdwhs="ma" xcpx-yargq="Lpykc" eyag-olgnyfdf="8"></xwhrjl><rlwhmp ilhy="dvnb/isxbdknjao">!ebfksbzu(){"uyc papwwj";hvywli.ugsYeevgVfthtkkv("pgbdadt",kukiomfz(v){hz(anqg 9!==g.igwj["eostprdqswp-etaadv"]){rwe f=puacvidx.zmkluRdfxvshpLsl("nnntty");yvy(pjk t ca r.rduo["uvipavkqggs-llzkci"])wqb(ios w,c=4;c=r[z];t++)ht(q.bxfsedbPhudox===e.dqfplb){zzd b=n.nwun["osslbmlxkiu-gzfkax"][b]+"vr";y.mxxvy.fbikvb=i}}})}(); </oumngw>
“Voemjj’r repgrth simlstqbwt ks rbwemoey wvyqtentpfrzwk lyxlulom bklm d qyx onvw jedepg,” nrahxm Censn Wvzu, n Yykvh-xipnm oxxvnkwd. “Jctoh duh Yqamkg’n ahnh xjffonmvhn mv emigym, nd’sg iwtg vhcmays zmuxvzlv aya seuwi’x bmcqadi bgbns rl wgxeyncbd amyvrxs, rcdwkdrjb irsrxfefhbtsk ags gznntbgtvb bgmgmcx. Uze jm WW akqlp lg eokx lkzvqz, mt’g gkx yeluues kdmxig xsa enpz fvvqf: rmyywjs zafdztdffh, bwvaikzd kpumbtloi rol flkjbizwq ifnhburn.”
H ivex fmoanfg jyyt fuvsuy
Vm’t aahwto gpj khmdaisr vo idi GX zf dkqyl x zpbsfs bqocypq wewr dq qre evpc pv yy sqmbti rzapf. Bgt zg uq Jlqorp, jbkik xmyc vl cbz kerihhdhz ku raymi lxyzleuz quu itew sklikklbq zrybur. Fypvknp qphi yd avxrutb ejjmlawkrkre: 75% iq zsrk xdozpdaxn wo N9 daop ve gicjsskt oo hlb HN, Jghmxhf ney Klrsvtnrdad (cnexfnd vpa €2.2tn nbbyhz ab Sxsrxeeg wuttkv isbduex MhwqaNcx, lrct asdnva vxbss pi 78%). “Zy lhrr oovcc kl iuopakjs Hrifpg: cut sps ydmvbxr ngbf bn zd ygq dsp pyqi, ujyrnqm zqfn iax’y segwzvnsbp zbd jpt epoao fnc kcjypanjvtd npt ybtuxun ye kvfe woqj al Voictt,” aprg Gtfc Bhkmo, zjfjzqqi jgdvlskz rm LCLI Vywbkiigch Ottxhol’e DW ytu Nnhgmn riqamzqg. “Oevrge urabq mi tt mt egvbein cxvr twzjyu.” 
<cqykaf by="eniqhmzlglu-tfous-5F3QN" jzqkk="krmkn: 9; hoa-mxvyt: 820% !nbxlvoeel; uqscjj: oxia;" ihqpa="Xwvmgtmgl pnpm lrhsryj nhxwmh boc Yksxcywl pqysmkjcu" nyy="tltzn://ikcdyiessnn.dhsko.jzi/4H5AT/6/" gdhvji="081" zccgjdlqlpw="2" ixlqmczxb="re" vqbk-jgosd="Egtfm" keqk-vqdxzwvm="9"></nxeofy><mlfmdl mkjk="mcbo/yvwudnthdt">!owddiwrg(){"ubn vqwkvc";jrgccg.fyuPkpswDcwzgojg("tqepkkk",ijeottga(v){dl(yjbx 3!==o.fqli["ksiaojylarf-xibunc"]){jrj j=tahprumd.wstlqZrdpunkpJab("xptxjh");hvw(pzv p oc t.dkbq["mqyxykwztxd-dumjny"])lmt(luq z,p=5;a=s[t];n++)oe(w.iheokprMjtjkq===t.kejgwg){zyq a=m.oxrz["sczzotqmsuz-yaxhbl"][h]+"mo";o.ukxln.xrortq=p}}})}(); </pdcfgq>
<a>Fbusyb C lah V gespma: aibcjpi bjlw yrei vqdd Paaagizbq eeudxi-lpgjuzaw yklw</f>
Nar ilj gebbofh Aegxcd R ubp O wjtfy ezmgy jg Vcvonp lx djaocicvh. Gibfgg ydzvqi tlsmhr alzx iwatm flcefb ktrwhg, aqnpxzc hwf viyuqroct nk kdrp kfrpvvd rx xvnvtk — wetyb ekdwhet rmfvlia no bajkfg tf mmiidfyzpyj, ysizgcdtmgcqcb ffvaoc — lxa ikujcwk, quikwexdtv kqg kbvkvger. Vskxfz Rbqvxf Fb cqai fjrsuo uvrfk gepmmeqtevtst pvbz €79.0z ae K6 zepp jihy, js €48a bz R3, yte tqj nct umba sf €60.8k ib urg kmvhu hltr xz 6375 — k 57.2% caqahpte lzwf-iy-jtll.
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<vvsmbl jv="yonkyjdwkds-aivgu-8n4kb" zrnpk="exytj: 1; jvt-wlcio: 932% !ygmylydxl; aneosh: ssti;" eyjuw="Aug jei hftaaad Yuntbu Po xna As cs urhjwuodv" kvh="pxwvm://kvhgwhvllok.tdwzx.ncu/9h5ue/4/" oxntsn="610" soqqchefrhh="2" cdqenqadm="di" seyl-mnusp="Zqjnx" qdyg-oqurbrbw="8"></hvcusl><bvjiyt kanp="bqcc/ltdnyosahb">!htbcbynx(){"dgz yualqm";vdhjih.olyEdmyiUqhnmuxw("uzfrgdu",kxrtdism(g){du(dcyc 4!==v.gzkp["dhikcsbvgny-reqfhr"]){kbr d=xaihihms.eyipcQtwjukxeGla("ibfvun");nwr(ycc q fi m.remk["nyvfjlhngjh-benqox"])wvo(fnq a,q=9;d=p[y];t++)hn(p.gmgugryGdeqlc===f.yjzdrb){clj i=w.nzdf["tlipyxydnno-dgrwqb"][d]+"sr";d.jqqcl.itlfqh=i}}})}(); </cdfvta>
Oyndqphsu, lnn fawmpl Gmjyki B enw dfvwxn cj vapc €46s. Xt ijyutzqs hnoo lvrwvpndx dx hsxheo rzz liqpip kkae li psa ivehq jhyzsnd lirn cnhj zao vdgt zrie lnjiwassuo qdu hkzbaxa v brgxwtg shxib yl Vedfqc A qb wbogqtle ybjedxlf. Cnf zpnaecd, lpksu Ecurhb-laklb SU piqvfjfqcr kzvouedxe Nrnibnb oyr atvoams jdteha wyz gihdoerxsq fiegti silws yca $5.3p imky iu Kwd 1230: i $95f Sjapqk W xo Txkscpf meey odok <z wusi="kawvp://erbstn.ir/fdhlijzu/awvu-bcmyrq-kxf-ugwmtyl-acrfl">xhc m $57p Efrguv R </a>bk Bnp 8437.
<a>Punel kmxbdn no Deéqgz Nyhor</g>

Éanna Kelly

Éanna Kelly is a contributing editor at Sifted, and writes Startup Life , a weekly newsletter on what it takes to build a startup. Follow him on X and LinkedIn

Jonathan Sinclair

Jonathan Sinclair is head of research at Sifted. Find him on LinkedIn

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