European tech funding falls to €6 billion in October
The UK led fundraising with €2.6 billion, while British AI chipmaker Fractile accounted for the month's largest deal.
European technology companies attracted €6 billion in October through 288 funding deals, down from September’s €15.8 billion and 300 deals. The amount invested fell by around 62 per cent month on month, while the number of transactions dropped by 4 per cent.
The UK retained its position as Europe’s largest fundraising market, with 75 transactions bringing in €2.6 billion. Across Europe, funding rounds exceeding €100 million went to 10 companies during October. Amounts were not disclosed for 42 of the month’s deals.
British AI chipmaker Fractile secured the largest round. Companies House filings show that it raised approximately £577 million through a Series C financing to support work on AI inference chips.
The decline in funding value was not accompanied by a fall in exits. Europe’s technology ecosystem recorded 39 exit transactions in October, unchanged from September, even as the amount raised by companies fell sharply.
