European venture

Venture funding in Europe is expected to decline 45% year on year during 2023 according to Atomico’s annual state of European Technology report released this week.  While the steep decline appears as a set back for the otherwise expanding startup scene, Atomico notes that compared to 2020, venture funding in the region is up 18% versus declines of 1% in the US and 7% in China.  Notably, despite the surge of interest in artificial intelligence, venture funding for the technology in Europe is expected to decline 33% this year.  Although still down year on year, funding for climate technology solutions is on track to expand to 27% of European venture funding from 18% in 2022 and 10% in 2021. 

Source: Atomico Venture, November 2023