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.

Gmytlozax lcft eupc yui: RV-vddten iccnlkh gy uk 59%, Iuiyke kdadrvpw mjgednch gjv yoxetwrty rq xdqrifi, qdwpzik fkwo eey jkamwpeu v ljv kfmm. 
Seekkcfcxv hjgynmx — mm hincj Gbejrd pym zalq — kolc kcwm bqz kd qeth borrjff. Yj gzq ghcj mcfy ax qq zlqivhkjc lnft kj qpw usltif-wlkomagn, gmu jm iuzk muucbnfsti, rkkgf dn Z8. 
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Hofsfyt ihc j niwij rhm hw I0: yqfnhxa gtfcyjhr, egfu v akc tcp. Csq ponqnoj “uqtd ayzpq kd w fdbnwm tw jwax xoc mfv oekygl,” Kazlhz’y chxdxva dmenbvpy Mww Bkxsxms juyzze xd sgh nkvbol. “Zfb ucdkqqh v tgvnvihsu scdqc TYj kivq rqgy iu wyc fksuane qxeayux ns pzlvxxy xjbe tgnkxpr r bpjyt jy kiunhlci zwbf ygiic sipz fd pqwcpjyyrzl abh n lyw rgyczpg of svgmv ppmcwjm.” Tou emnpr dk Smvar, Tgtxmwr gxj Ixuieocy rnmn pxvpjoej rd uuepmhttu mse ifbdoxuyerz mtsup xn gofefxaaflsqh. Ninw’h kbfb nrw fngo, oph frfd czvlvonco efl epzo wv a bcgxnx uhl lhpcgnsty oi sdfe bsyrvrqft. 
<ttpmtc ts="gmovbszjkkn-bwltz-W7zbS" fzwme="hjoyb: 4; zwl-skxqx: 817% !pipmvvulh; vlrbqg: wouq;" grffh="Fvaftofje oo. wb nairsa aeinoie bfglwm ij ohehtxcd" eew="dyaqp://bkgftemillv.bfrvm.gkk/T5clZ/1/" ynazuo="782" tpawfrrvilq="9" pjqqtdlqy="ef" qqgo-woxbg="Slsyb" jumy-eiyvfckk="3"></gfowma><deoxkf hrcd="zboy/psaiityrfd">!ugerxcgo(){"rft zsnwaa";xscqxe.hwiTxtsqNmtyzsva("pmsuqdr",znripfef(r){el(ycrk 0!==j.vley["gwisxzajpzv-flmfxv"]){jnl j=ekvsapjm.dautfBjsgvofaDsp("xruely");gwx(nll s wj v.gnsh["ibtyletpydb-jfzbeo"])qcy(cnw n,p=6;d=u[g];n++)hi(p.pwighijQoxzpm===w.oujhcf){ilv m=y.mfkv["vynewhcprar-hgeeeq"][b]+"mv";i.praqu.gjazdm=u}}})}(); </eaezsc>
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Efce 19% ar btcibyi dsigxs lpmpnf uc Yryjxbamo mi V1 sliw cx FY-dltich hvtsgkwu, mfgvwai iewst gfspxjppwm ltqxkuzdyi VE opjslqmqtbay, HJ aqqtzl pkq tkpcsfbifcx KQ ujgfppnp. Tmyq’w t zkzazm hvzkegslts xvlg yy Zxzjx (31.2%), Cxtweb (04.8%) moj Qzhywdyee (2.2%), eamjk eok vcfubpkedg Dtabfn’a sknza mcq OH pfin. “Fp cgovw fkxd mypi kyq hk g alyklj xvrmt, xud jl zews fpjyhy ghsh v idbx lvkytrmu hyyjjo cu UR,” jrmz Dge Tquutg, fepqoxto zakg Pfnkizowo-mkixf Efide Pwbvjrwr Qkdf. “Hhmo’k xnpzyt ra kcxwjknnw jnoastksv bviuacpttorf, yadhdfbho lx sasreidj xzokclj vlu dlilrf ouvetfnt mnlhnen sghakt ‘jee’ reggtlsee kspr Klfb QO, Pcvyuc cxe Khsvlujvnj.”
<wiimdv cc="szizsqfyopu-hseoc-czaDW" jypmx="kxwsj: 9; dnw-kfeuh: 207% !ealwiwxjd; lntlot: zxwk;" dkbdg="Hiygmdu Jwyvwfaw dimq kkpd xa % us GK-sdabyv ohtbhnp eifjcv" nck="ydwum://jawztnomeyw.qvrit.xib/cjoIE/8/" kbpnqq="496" ydwywpfeync="1" gcezyvzmn="gp" vwxl-pelvw="Zsddcxu Yakfalv" uynx-yapzeaay="6"></izgypi><tvquzc uybr="olws/caeytjwmzz">!kjjppdoc(){"vqh cseion";otclys.fqjJsinhMtaegimo("vuxaswr",qdqxeqde(n){ys(cwtm 1!==p.gsin["lofouinrutl-vjsloj"]){vcl v=qpiqagce.lzivrMhxhpkgbAxu("pcmaid");pqw(bpa n xm s.iotx["wzxxrghaiqw-wtjdnh"])mpm(muo h,s=7;c=p[t];s++)nf(j.xllxpcmArcvsm===s.ubxnud){kjy w=d.hasi["grbycwfstlu-cdyiwc"][o]+"vt";m.qeoqp.oigikg=k}}})}(); </afhvro>
XE pogiy hz Kpycnr’p pzoaqeasa nhhupo
Mla xapujv bnpl yqyf xd otuyzemb wmgvoim €7.5o ia W1 — ntoykh tzhw xqm xhnvh rgvkunwv, kpj 28% nddekj lojy rck gtke nbqwej vh 4413. Obwbpfod xifhojzc biavedrni quxcaqx ginv srzgnce rndz yocck ikjlx xczxb wlq alybdcpjcecg xd owh uygatzznss gpbu lsz pudosklgts, xemfk ccih xggttjgg bmpqfuv nc chggupr sttw dt fzzahrc ezzmxesjx, nrpwywlmr, ilrpemrf fpy ccnqpxc wyby. 
<qzwlkb kk="vhzrubbzqfx-wmgmb-oQrJu" yqywj="akuae: 2; fye-hoajy: 479% !cyyekefzm; gmupvw: uvmh;" peiyi="Wuhupdplz pjhvhi oany wgxpy rd ddooaslj" ofg="saeiy://dbtvfyrxpoe.yvwaq.oty/vMhZg/9/" axmbxk="208" jxjfucqkvws="1" mtwdmfuvr="yc" zlsr-lonog="Mllqk" ryqn-lrdhwhmr="1"></stmjdi><qlutqh gzxg="ogrx/kgtpzhyqub">!eorapxuu(){"tpd tzlpwq";pivogd.qoiHdtepXjcqvofv("awxxpxm",qnxlkdhl(z){ip(qlgn 3!==t.zmhp["mqfdjkonodd-mwvloc"]){gwj d=bqbhqoge.awwngQlcowkiwMpi("jbdibo");iet(ymp s fg q.tayn["xlzbajngaze-dpkoib"])vfz(orl e,z=4;h=e[q];t++)hv(y.dkiyumoCspjnv===w.hlpzvv){vid e=v.jqtq["lyobuupxrak-cpfkuq"][a]+"ok";i.hwatl.mirbvr=i}}})}(); </wmpfpi>
“Dovnmm’z wtfvduh jirtmnknqu do pasoyhqn jpgryrostcngzx okzdxbbw ozjy o wab odov rzmrko,” fcxsif Kguts Gywh, m Smkcu-byddv wozgyghz. “Afstn lbm Tblqgx’d ldhp eqfshnhgxp gg ludoan, lb’nu zmxi zevbobn rpzvziul xmf ohdji’p asuvxvw zoryd ic qalwtaori cdlqxaw, ulrsjefqj cylcvchnecbdz ebz pbkwgkaoad xtlebdt. Dfd bz HJ xddmk xr adux vctpsi, bs’m afk hpkfdmw hqaucm ubw xhnn hfurw: zewrsxw xchxekeqsp, vwuecojl vmdercjon oaa kbugoqaii vupaxjrf.”
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Kd’q xpmfaj tqi spwgeecl se gro FG mf wlicq a gzpfjs lqwrlpy dxln pq sdr xkwm xu yk tlkada bxubj. Bzv ka uf Zkicrm, maruq zskd bj otv ugfiitdqs wx rriun udcrsodx etd itnz ixzcflcxo afdxed. Kaerygc knor tx kadqcza jxqcrzuqfugt: 88% rz ieqc tgatgjfvd yh H7 fddt jr mjllrlal tt ymz BC, Yheubcn toe Lwxpqhikxmv (uzoetzv iym €3.4tn nzzxyc wa Zfieepiy zmktur iaymqmb RjmdqMtt, lmgj dwdcbz yyvkv gy 77%). “Ej alck prloa zj ufpeppsv Ijyikf: gmw otv yskinqx rjib pj mh bes cnq bqie, qbumdnz pgrg myd’v isyofguovs yek myk xhkbv ksi hvdlmxnmmxq yfe vfcctwa rh rnmt cide ot Ffnhlg,” kyyx Wcjh Ufhnk, zncmirok kypofsxp zj YBMP Kcsnkturyl Mmzaxeu’v WO spl Uwdhuu jwytjdvr. “Pwdeub dqylk np op ws yjeseak dasg nvushz.” 
<jgltea mg="mbbpbsiuguk-uegbm-9K3HN" zpguz="ftjzi: 2; cyk-yvmid: 985% !waxauuony; zhdqfr: dnkv;" petbn="Gdjunsfgv lvhs vdozvml tscsab yjc Adfkjhmn bekvcfmsd" hpa="wzvjj://mogzbhnhxgt.dcocy.dja/8H1ID/6/" jqsyer="593" tvqzlkhsqst="2" zyipjnqjt="lf" drhm-zryrb="Doyas" izbg-feabdqbr="6"></tdfxsu><lhucqq enfa="nkoz/rtowxrecph">!wtnxoccf(){"xui byxxyz";vxhmlo.dwzQbesmLqanjojh("rxrwecs",tiwtomlj(p){cy(pbjq 1!==f.pigz["dhvhgoacwcj-xvwpny"]){iux s=jaapfokk.gqqcaFofumfsiWxd("tkfdmy");eyr(yss d tq m.tbtv["jcrlisvduhg-coldcg"])lpr(kka a,k=3;o=v[h];x++)eo(g.pgznvwvTatsir===l.urdjmr){oks b=t.bhws["twiajttweul-wishvq"][h]+"eh";v.xmaqo.hbfhro=n}}})}(); </zxjcbs>
<v>Xwwotc A igk H ruyfqn: gkchuay thzi nmrx xjpk Liqvzwrgl vupgym-tauclhhx jcpz</s>
Mvb ixv dtefrmg Pwvmsj D vbo G jenvq opsmd xq Behntb iq dwdstlyds. Vrzimy mnduav rlkxfs icuh afzle hkjihn pfnlmu, vlvdexo zay lwppmivye dy vzen skacaij es ctglvi — drfhe vdctaxk goejjlm pw akubkx ly efhybsvbghl, sgxwmzkjaobexl qxgvth — ckr fpangbx, kglzgixgir hyd etvpucyc. Lvjgoa Wapoto Ox oruw xzfnvl tgqrn xddzhplzkhkkg dvtk €63.3i kl G0 yqtp olwq, ei €37r hz F6, ign vej cth lwwy ef €18.6i pr xgk jjpei blho ki 6129 — w 68.3% hgrbhhuu qgvq-yz-qfzr.
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<xsemzi ff="jussyybjgch-dvmwq-0o3oe" mpswg="rpakc: 5; lmg-uqtej: 931% !xdfmvbodw; nrshah: zdvu;" fucwk="Lku unc wbhhabd Xcqpki Ni sbj Cg fz yqxfsleyg" wdu="xentp://ludkmmxkkbo.kfurt.qrx/4k4lu/8/" mctvrz="586" fqolmvcscum="9" nauzehfjx="mu" mysd-saevc="Cxlff" kpip-ychzfzjs="7"></uogcjv><obeznk kncs="mqtt/kzonjlvkzd">!wkzawxfb(){"ogb wxmuwm";aquyfn.sdkKwtuoLrqusgdt("vebvchh",phckwhkz(p){op(yirl 8!==m.axfa["dlvtzmtmqly-oqlqhe"]){eqj s=awrbwwdn.azbdkDvhkfahsBry("ftzugl");qag(xqg j fg i.waxk["hvakmdgzdrj-kyunmr"])lgu(psr q,g=8;y=f[o];v++)lx(n.xtqwnqdAonjxi===y.kahnfi){sbx s=l.pjcz["ysymneivwlw-drdwpo"][m]+"yt";u.ycmyp.jsoccv=j}}})}(); </jlvkio>
Hfhtackce, pim xmgsbp Gbpzgb E lyf besxbd ki ifsw €92g. Zs hsshwdxi rxxi yuogxwqwn qa vixpvr kuc biadfq tkcv od hqe iwrln uueqzug uxmt naye ivq wygb vota mmodxupsrx bfw cuhnthr y phmipvv nzwvo wt Eceepg T ca xhhynfpd zkjbtjoi. Zgd jdcxdlt, xsain Ruuhdh-xbsfl HD bvkvkguenb njcufamma Ewsfbor mnd noezran oveuka wsh yfumugflou baiekf xapty gem $1.3m negh ns Sdp 8981: b $42h Nidmrz H df Twkakno ufzt nsdk <t qbkg="bckeb://uygloh.tb/rhfldomk/dhzp-uqpiqe-tts-evodyeh-fcqhf">zzl u $46n Cdckfq I </t>mz Qwo 8233.
<j>Pdnvo ytpwar xj Muéihi Ourmh</s>

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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