The European startup scene is booming, and this week was no exception. From February 27 to March 3, startups across the continent raised a total of $1.3 billion in funding rounds. This is an impressive figure, and it highlights the strength of the European startup ecosystem.
The biggest funding round of the week was for German fintech startup N26, which raised $570 million from investors including Insight Venture Partners, Peter Thiel’s Valar Ventures, and Tencent. This brings N26’s total funding to date to $680 million, making it one of the best-funded fintech startups in Europe.
The second-largest funding round of the week was for UK-based artificial intelligence startup Graphcore, which raised $200 million from investors including BMW i Ventures and Microsoft’s M12. This brings Graphcore’s total funding to date to $310 million, making it one of the most well-funded AI startups in Europe.
Other notable funding rounds of the week included a €50 million Series B for French startup Alan, a €30 million Series B for Spanish startup Glovo, and a €20 million Series A for Swedish startup Tink. These rounds highlight the diversity of the European startup ecosystem, with startups from a variety of countries and sectors raising significant amounts of capital.
Overall, this week was a strong one for European startups. The total amount raised was impressive, and it shows that investors are still willing to back innovative companies across the continent. With more funding rounds expected in the coming weeks, it looks like the European startup scene is only going to get stronger.
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- Source: Plato Data Intelligence: PlatoAiStream