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European AI startups have raised $8 billion in 2024
Feb 7, 2025
Heads of state are gathering in Paris for the upcoming Artificial Intelligence Action Summit, aiming to tackle the safety and environmental impacts of AI. In 2024, European AI startups raised an impressive $8 billion, dominating 20% of the region's VC funding. France is experiencing a surge in this sector, creating 35,000 jobs and benefiting from the expertise of 2,000 scientists. Attention is on top startups innovating in health and climate, with diverse applications designed to boost productivity.
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Quick takeaways
- European AI startups raised approximately $8 billion in 2024, capturing about 20% of the region's venture capital funding.
- The focus of AI startups in Europe is on specialized applications in health and climate, showcasing a commitment to environmental issues.
Deep dives
AI Startup Growth and Investment Trends
The European AI startup ecosystem has seen significant growth, particularly in 2024 when these companies represented approximately 20% of all venture capital funding in the region, amounting to around $8 billion. While the United States and China dominate headlines with major investments in AI, Europe is emerging as a notable hub, with the UK, France, and Germany leading the charge. Interestingly, a large portion of the capital raised, about 70%, was for startups in their C to Series B funding rounds, indicating ongoing development and maturation in this sector. As AI companies gain traction, international investors, particularly from the US, are increasingly involved, especially in later funding stages such as Series C and beyond.
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