The mid-year mark is a great time to review numbers and highlight significant milestones and trends across the European tech scene, and what they mean for the remainder of 2025.
Throughout the year we track various data points across the European tech ecosystem, and the mid-year mark is a great time to review numbers and highlight significant milestones and what the implications might be, as well as identify trends.
Half year data (three year view, €B)
Comparing the same (H1) three-year period, the data shows the trend of shifting investor behaviour: while H1 2023 saw the highest number of deals (2,300+), it brought in the lowest capital at €28.7 billion.
H1 2024 marked a peak in funding at €50.1 billion, despite only a slight increase in deal count. In contrast, H1 2025 reflects a correction; deal numbers held steady at just under 2,000, but total capital dropped by over 30 per cent year-on-year, suggesting a more cautious and selective funding environment.