European Startups Raise €15.8B in September, Nearly Five Times August's Total

Cloud was the leading sector by investment volume in September, capturing 35 per cent of the month's total funding at €5.5 billion. The UK was the top fundraising market, securing €7.3 billion across 65 transactions.

Exit activity also remained active, with 39 transactions during the month. Germany was the most active exit market with eight transactions, around 21 per cent of the total, followed by France with six, while the UK and Sweden each recorded three.

Other notable rounds during the period included University of Sussex spinout Universal Quantum, which raised a $100 million Series A, German company Reverion with €154 million, and Sweden's Yazen with €50 million. On the M&A side, SAP agreed to acquire Belgian firm TechWolf, Personio bought Circula, and Sovos acquired French company Flowie.

The early-stage venture firm has reached a €13 million first close toward a €26 million target, with five investments already made.