It’s been a comeback year for European tech. Thanks to a fresh wave of AI-native startups, the ecosystem clocked up its third-best funding year ever, trailing only the heady days of 2021 and 2022.
We’ve seen hefty deals and a flurry of investments: ASML backing Mistral, vibe-coding startup Lovable raising twice and hitting a $6.6bn valuation, and data centre startup Nscale pulling in a monster $1.1bn round.
Not everything’s been rosy though. Europe’s best-funded climate tech, Northvolt, filed for bankruptcy this year — a sobering symbol of a tough 12 months for the continent’s greener startups.
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