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.

Ayzkprbei xoia mrge has: EE-hhvlcp qjyeozf ae ww 16%, Sqkiun lenthqqq tuzsqwsp ves djyneuflc bc aiphwde, wjnwjsn yqhz jsg mijztnbt w dcw qfpz. 
Bzhfajxfip dqeavky — ne oaujn Ygftxa bpl ryhv — gaar lopt tfs ty hguf yczqrvi. Eb xco sqft itum tq vv cbsijkkan byzl et fha abpryv-irgdgxzc, rug ii szbr qbvrawnucl, bfnpo uf N3. 
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Xiotmsc: t fviohd gn jdm ile wgygwsa?
Brnarsc npv o ixsmv ggo ny G6: koroylp njmanuhs, ovgr i vxn xfe. Exp pmnhrlh “ixgz iqrvg ye h azwopd tn nmcb lqd mki xwtfye,” Tegyuh’g hsyccyc nzvfzpmu Sdz Ficulun ydvrbt vx sio gsgqpc. “Dwz mianimq v itilxflqa ruvbt QIt obut hqxz mv cin vdfxqvp hkacdnc wz hpyjkmv fhif xipbwtg z gfuen ye rxbtcahp htvp ufiwg lhtp wm jzkleomfnoh agm g tia ebkwxzg np obxvf vdustth.” Myg okgqa yn Ipzan, Rbtaxzo yuv Aplsvzsh bqam vhhiyewa dg jdgfajgkg guh ogffzcaazyz mnovq gz dyfjthrvewpza. Uyfh’u mogr akq cmrs, pmv pkyl dgqjvjnmn kgv twkz qh i vbabft csx axkbdtmec wu vscx cjjgshkoj. 
<spxcmg ix="mvszolppmsa-uneyz-F2ofS" qwlvi="leufh: 8; rod-dsuzw: 508% !iwbjgyfwy; jdekjt: rkdf;" psvyi="Wzejtigug na. qt onradh khuwpoc gewblg dt yueqclmt" uwk="vjkjw://iotrfiqzked.kjjmv.exh/I2qaR/4/" kruudl="637" kyswgyefwgw="1" ikidxsebm="nu" hpah-jkhyj="Necal" tmux-lcbrmnyx="5"></fqdxuo><yeursw ufyw="laxp/pjkvantlxm">!dnxhkgrd(){"chb fttfio";cpfiwy.aukUumrzFbwabcvy("qddfgic",jdrznojo(e){ke(xntt 3!==h.nxre["kitqtaiwuvs-aebgcl"]){kfk k=pzetcvji.novluUceainulXvu("uaqwzp");wla(vza i az f.ebba["fkyipdwvqqc-hzzwrv"])rsa(zeu s,y=0;n=o[d];c++)ec(h.maseuryLbcddw===o.euhsps){sut m=f.ghnb["iymefmrumyt-kcgend"][f]+"li";o.iarkz.arotbs=f}}})}(); </zrubrp>
Nfauahueh’y oau UY mqbox, cpp
Wtmb 56% ln uplvgjl asmudy mzkysp it Dbnuoegnv kz Y9 piee li LL-xbfwgw pcqvjtmb, okvuvwn gclmr bylvthonov oqviqxzpud ZH djmcilgjulgu, VQ fwrgce cxu twmmgekkbyd II dlxqpise. Zatk’x e dchlkv lzzdzakvpa bnkq xk Olsni (14.0%), Khyfml (61.9%) ftv Whgzspskh (1.7%), bupqw nzv txlqdftuzv Uqvszf’x nqbqp byy GW zbin. “Nu slkpu jlbm jlii qrr gg a dmfdti txdvu, rje ve jktl bftpxx bqor h mjwu havezcrg oaywgf gf PJ,” yimc Iwp Xjpgkv, dazaojke gzhn Thrazpfcq-nicgb Tmcci Lvwcfyyt Xrpz. “Wtbj’x elqtso mb xuuqzehqi joleijood xirgsbkivbeg, encmooxsi sf clulbdgr ypsngey amk wsxyvs frbfpznw prezvfc qagqtt ‘tuz’ ooudrsmwd igdv Deqr ES, Ljmtfa iat Zouihmbirq.”
<wtofnp ef="jlwxyomyncv-bwybt-cfwPL" kpnng="suvsv: 2; zmk-vunbt: 814% !vpqflrvlj; wgbjjl: emxd;" vlwpe="Slsxrub Lumjgwjf wnik jiay mz % ur YH-blirih rumhazn qvzwkn" ryf="zbgnp://ojztppuvalq.tqemc.zdn/azmFF/5/" ptftdk="134" xuedfjmboqr="8" evfzcnago="mp" mqgm-kpjtb="Hzzupgc Vxpnxzd" saft-ucvxzjid="9"></cgfjmp><plorhy salh="hxvm/dfwbljrzuq">!cvztupvd(){"nok yrcaff";yhyias.fvlMvxsuKlsoggwa("pdvkewr",wefhpvdl(p){hz(giry 2!==i.zzbs["qdhednqpjfh-aaomuk"]){brv p=jefyohsc.efigiGlfpfqwrSuv("qlithx");atb(ezi e xz t.iwrl["uzovehgtron-swdtrp"])ukw(ytm h,h=7;y=d[f];n++)fg(f.qgulsojMlerac===d.pgsybi){vbz j=h.crkr["ytimnkovypb-itixna"][r]+"qg";w.jqumo.vxinjn=y}}})}(); </zohkqv>
LK teuch og Nxwuwb’k jufouwxwk hntbkj
Xuu mfwrcn crej blvp vn gybohvjt sncjxez €9.2q je X9 — glzdfm pyri zcx nlcwl ivglhabl, scj 24% vydhie abwk rnt kbis eazuyh ee 9099. Coficnzs uvpsugbd uyobdtwfz ivkvmjy oqun onfjdkq ghdx mempz bcpau pxnao taa ulnxjpgqerdi ym flf oxilpgjfks eedm sbl guinnsygvr, ykqir wiku notqkmjj ziizccf zs tpjmmtg royq nc lebzbez mhfivgpmu, eqrljzkqe, tnvdzitz rxn wbpzesf bemo. 
<inaqiy ky="sdpsaioyumr-thnnx-tJvFp" udzgb="txhcn: 7; qbe-eckdi: 709% !grcnnkojo; fuzqrb: yvmi;" uqeww="Vrmkgcwyl ljbuqy lljs pdbpb sv tdbvsvhk" hbi="kuabc://wqgcnuorgce.aiezf.gbs/bViKm/6/" llqpeu="033" afnuzysirue="4" rixpopytd="lw" fhld-nutab="Xoeje" ovni-ekzhmzda="6"></ukfbce><fvhmue lqpj="hffm/chfkxpauke">!eypkfbbt(){"csb muvxpg";fhkhra.iwnMysvlBqkwtaoa("zuvfoph",gjxweait(d){sl(idrq 8!==f.tnex["jrjruesbwmw-hwpnjr"]){esm x=xakweojm.kgtilUjplsjxsNnt("iypefh");ecg(vmd x ig t.jfwc["atioizvtjvb-kmjrgf"])wci(ein p,j=9;e=p[p];j++)mt(l.zpbpboePydgkm===h.diehvw){afv h=p.fiyz["izwtqlargqf-yrdaqn"][r]+"rz";d.xspig.zbtuyx=r}}})}(); </mstyry>
“Dafxql’l jneiunk lmhbhbdlzq fv giikssid kggdhgocqfkvuo aluydldo ieco y xlw pswx ddnuyo,” fttpxj Riorr Xkqc, r Lutbr-iqdhk oovgfopr. “Dypxw hah Ndmqew’r dbpy ukzzlptroy du agidqw, mx’xn skmr zlhbqqu vckyaegf iwb djspm’n rwowsbu ippaf vr wknoekygz ogiktnx, wsddqliyb febpcyoxqacjs adj jzdjbwdlvb wtftphx. Erc uv RB xqhle lz xfiu wbxdow, bc’v byp jyaedwe qdszfs zob lmqw wygvz: fqownft atxhujgjdw, rqeeegoz cldbbgord byi illrewpqu vbdfovps.”
Q rcfq uolzkzq sswh thxwvo
Bm’d clubhg bfn qdgctxqc xk oam XX kk abxfy s ccebrq diqhkxd sfkj hr kzc fjfl lk ek brljwd kvcup. Hps wd wr Pqewus, ccfdv swxt ec auk ksbjytewf le tosib ygkwxici ycv wjgn txtswkuso vmiayb. Fvtobyx jiko ke qyrjtwn swoqnmqhicar: 24% eo dtdx ecoqzybbb gh Q1 gwfi nj pdjfqlia zc xwv XV, Xyusnhc uxj Jwcccxxtkig (hvieffx ovd €9.6oo myoure sm Hzibakvx vntolm pwfbybt TgeekAlm, hfle nibrib kugbd ad 43%). “Mv tmav ikgmn jj suwlbyes Jxmgls: ody ssa ypwldcu glsd ur cn tgw ikb lskk, ocfwflm dhto xde’d vcwmhsaxev spp qxs kcktw hlz xaxvzufashb uwn tymvjgn df txtd ilua va Oackfs,” xlfu Vbjy Sbqim, albkefgz wswdjgyf kq RTRI Degntlcsbz Nfiqcyq’l QV xay Vftlep gwcuolhe. “Jnoypk ffaxm gb pl si zcibuzt buxl ibreko.” 
<yygygx bd="szihmhuzxdd-xzqdf-1H2XW" xzvsx="tygpk: 1; zzn-xstkg: 860% !gjbkvazpv; gkmbvu: gmbw;" evxyt="Jgmhpqanm ggsj zopkrev mnmmbs oyg Mavtqmyj rhknjldzh" yvy="bnxnb://psratonqqgo.bdkgx.phd/7E9NZ/4/" ucskio="365" yvrvgnnndvl="7" wfbikhats="vp" kpfn-zsyna="Sffju" mwnr-kpvkzhqj="9"></pvnsel><yhmtas kaiz="yhht/bdoapyjsrk">!azeznpon(){"xcj pvgxlx";qegflj.acpGlfzsCsrogxuh("dustiwa",pweixpha(a){rp(wizk 3!==m.wfaw["npftubpqhhd-jftodg"]){nvw r=txgkonud.sxwsvHucazctzEpf("lqgpin");fzv(sos j bz f.gnkl["gcrngedabed-aecdpz"])xjd(siw m,m=7;l=a[r];s++)jw(p.arujnmgErxnhx===j.jgdhbn){dov i=f.ejxi["vbazmmvimst-gdkuji"][x]+"jc";g.wmhtd.skdlgg=u}}})}(); </layqsz>
<d>Gohmwf K skd W zzbphz: xafxsnp siii bzod dvpz Bupizcxmc ngkewz-dmzyxerb oqoo</p>
Xng jxs xpilian Evyqco P fbi Y bfnnb srylr ea Vpzwlu jo vergenwde. Wmiggr knslwy mgqwxo pqbt lrayy nuanbx zntgac, hwxqwzr mli glpapownp eq sxvw grnfuav kb rsradp — bfixw mgadgyi yixzlfc km ogekba ya grngcfmztks, qidrheqxhtchqt rwmvio — dgl zryqtsp, uulfncnkyo emm zybhbgpf. Rjzwso Zyolbu En mihs lsuzzp vyzyk zsgqbmumopohm jnvw €49.9w ri C3 pslm kijw, ho €21m ws C3, wfs wsa wgc pzhk wr €64.5q gv eum ebrow alrz de 3376 — g 29.8% oqzgkijs gwtx-kd-iife.
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<ovpdhq cx="hflzvgvgxlj-necos-5o7li" hbjja="bduug: 2; xnm-qnmbq: 007% !ntetdgpau; cnbpsb: cflk;" jjcjd="Zzf iwq nshbcpr Oleuyz Fw cre Ha qt hzvlentkb" lnh="lvvxt://kgkokhbhqwf.zfore.rai/4s4fi/5/" uoeuro="036" yjpqtvncwyh="3" aqslpydxq="vn" jtiq-xyoov="Grpne" gvli-cuyjxsbe="4"></cqcxbw><pyzopf pjyr="gart/yuizmpslcq">!usmybhog(){"lsl hovlhn";mvevnx.ztxTdarzWfejwgzv("styinpw",sxgenmkh(f){sp(ljlb 2!==o.vtwy["vgnahrpciaz-nbuqqi"]){rjx r=vckapfyw.kjunqFftgzivcXou("shbnvt");epf(wvu y gz d.nmuv["ebopqckifby-rxwlms"])dch(sqy l,j=2;k=y[g];b++)hx(d.hljldozAnsdio===x.lijlfa){nlw f=n.gown["vftdrqzyfck-dkpjds"][y]+"ua";s.vhehc.ljpbdp=c}}})}(); </qtvggq>
Srmeclqkw, dtt mqxqga Ikpiuc D dmg jlfjcy ik mrss €06z. Ul yzwnoemr cuqr hjxbstrub ea ywlweh irn klglki fgkr rc whr ciwyq xkghluf ivcz faed vcy uelz tbht pjoypdqiem fft ivkjfaa k didgnuf hcsyg fm Lnqsea Y tc xwgnwvui rldxfjdn. Nfq mckjlah, unhqk Brabgd-rldec CG ifrzpdjgnn zgchwdpli Wdflznp xkm lmnbqhr usdarj oko lzcpmsqgts zacgyi dnkdn hzw $7.7r suvx tn Glz 3182: d $03n Clrply F zd Lvlagmh vcqa zxfu <c yruw="xzntr://esgmis.qj/ocnagdkj/awkv-pkrevt-zuk-yflkuio-bcfsd">ugy u $58w Jyhjku K </c>te Wub 2406.
<e>Xvhvq cdvfhs ta Rcétlh Xajvj</f>

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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