Startups Hit €125 million+ in 2024 Funding Report

Discover the startups that raised between €200M and €125 this year, fueled by breakthroughs in AI, sustainability, and digital transformation. With strong investor interest, European startups are paving the way for global growth and innovation. In 2024 alone, local startups and venture capital firms raised an impressive €() billion.

Here Are 2024’s €200 million - €125 million Funded Startups

Oura

ŌURA, the popular Oura Ring smart ring maker, has completed a $200 million Series D funding round. Fidelity Management & Research Company and glucose biosensing leader Dexcom participated in the round, bringing the company's valuation to $5.2 billion.

ENVIRIA

Frankfurt-based ENVIRIA raises €185 million in series B funding from BlackRock, through its Global Renewable Power IV (GRP IV) fund. As part of the company's growth goal, the extra funding will help to expand the 500 C&I solar projects that are now operational throughout Germany.

Frontline Ventures

Frontline Ventures, a leading venture capital firm to support b2b software startups, secures €182 million in funding across two funds: Frontline Growth and Frontline Seed. These additional funds will drive European B2B software ecosystem firms' transatlantic expansion, supporting innovation in both North America and Europe.

iwoca

iwoca, one of Europe’s largest SME lenders, secures £150 million in debt funding, taking total gross investment in the company to over £1bn since it was founded in 2012.iwoca, a uk startup has received £150m (€175m) in debt financing commitments from Citibank and Insight Investment to support the company’s growth in Germany, and a further £120m from Barclays and Värde for the UK business, as it responds to mounting demand for finance from small businesses.

Alstin Capital

German venture capital firm Alstin Capital has closed its latest fund, Alstin III, raising €175 million, which is more than its original target of €100 million and its cap of €125 million, reached in just four months. The fund focuses on investing in European B2B software companies at the Seed and Series A stages, mainly in the DACH region, with investments between €2 million and €7 million.

Earlybird Health

Earlybird Health secures €173 million in funding. The size of the independently managed fund has expanded dramatically compared to the preceding Fund, indicating a greater interest in healthcare among investors. Investing in European businesses from their inception to cutting-edge technologies that are getting close to regulatory clearance and commercialization is the focus of the Earlybird Health Fund.

Alan

Health insurance partner Alan has secures €173million in series F round funding led by Belfius, a Belgian Federal State-owned bank insurer. With this round, the company has reached a valuation of €4B. In addition to Belfius, the round included famous French and international entrepreneurs, as well as current investors Temasek, Coatue, Lakestar, and OTPP via Teachers’ Venture Growth.

OTB Ventures

The European Innovation Fund (EIF), Isomer Capital, NATO Innovation Fund (NIF), Foundation for Polish Science, TDJ Venture, Marcin Zukowski, co-founder of Snowflake, and OnDean, the family office of the Relativity founders, will support Fund 2. The largest venture capital firm with roots in Central and Eastern Europe, the dedicated Deep-Tech fund, will make investments in four key verticals throughout Europe: FinTech Infrastructure, Enterprise Automation & AI, SpaceTech, and Cybersecurity.

Alpine Space Ventures

Alpine Space Ventures, an industry-insider-led venture capital business covering early-stage investments in the growing European space sector, raises €170 million for its first fund.The fund invests in Series A rounds in firms that serve or use the global space industry, focusing on space sector industrialization and connectivity and data hardware and software solutions.

Powerdot

Lisbon-based Powerdot, an EV charging point operator, raises €165million in green financing from ABN Amro, BNP Paribas, ING, MUFG Bank, Santander, and Société Générale.With the help of the €165M green financing facility and an extra €60M uncommitted accordion facility, the Portuguese company will be able to increase the number of EV charging stations in its network to over 3,100 sites by 2026.

Rohlik Group

Food Retailtech and Online Grocery Company Rohlik Group announces it has successfully secures $170 million in fresh growth funding bringing its funding to over $780 million. The investment was led by the European Bank for Reconstruction and Development (EBRD), alongside existing investors Sofina, Index Ventures, Quadrille, and TCF Capital and complemented by growth capital funding from the European Investment Bank (EIB) under its Scale-Up Initiative.

The Exploration Company

European spacetech company The Exploration Company (TEC) has raised $160 million in Series B funding, bringing its total funding to nearly $230 million. TEC focuses on reusable and refillable spacecraft to make space exploration more affordable, modular, and sustainable. The company is developing Nyx, a spacecraft that can be reused and refueled in orbit, launched from any heavy launcher, and flown to any space station.

Aonic

Swedish gaming and tech company Aonic has raised €152 million.Aonic is a growing group of game studios and service providers, helping founders and teams boost their expertise and encourage collaboration. Since starting in 2021, Aonic has expanded to 12 companies worldwide in game development, publishing, and related services. This includes Exmox, a fast-growing mobile user acquisition platform, OtherSide Entertainment, led by gaming legends like Warren Spector, and Megabit Publishing.

CIRCTEC

UK-based recycling startup CIRCTEC secures €150 million in funding to construct Europe’s largest end-of-life tyre pyrolysis recycling facility in Delfzijl, the Netherlands.With the funding raised, CIRCTEC will construct Europe’s largest end-of-life tyre pyrolysis recycling facility in Delfzijl, the Netherlands. At full capacity, the Delfzijl plant will be able to tackle approximately 5% of the 3.6 million tons of end-of-life tyres that are generated in Europe annually.

1KOMMA5°

German startup 1KOMMA5° has raised €150 million in a Pre-IPO round, bringing its total funding to over €650 million. The company operates Heartbeat AI, a virtual power plant.The company has acquired several businesses, including Arkana Energy, Solaray Energy, ZEWO Energy, and Zonduurzaam.The funding round was co-led by G2 Venture Partners, with support from 2150, Norrsken, Hamilton Lane, b2venture, Eurazeo, and eCAPITAL, along with other existing investors. The largest new investor is the US pension fund CalSTRS.

Bending Spoons

Milan-based Bending Spoons secures $155million in funding at a $2.55 billion post-money valuation. Durable Capital Partners LP and current investors Baillie Gifford, Cox Enterprises, NB Renaissance, NUO Capital, and StarTIP participated in the financing.The money will be used by the company to support future acquisitions while broadening its operations and market reach.

Nscale

Nscale, the hyperscaler engineered for AI, announced that it has raised $155 million in Series A funding to accelerate expansion across Europe and North America. Advised by Barkers Point Capital Partners and led by Sandton Capital Partners, with participation from Kestrel 0x1, Blue Sky Capital Managers Ltd, and Florence Capital, this oversubscribed funding round signals strong confidence in Nscale’s path to building the hyperscaler, purposely engineered for AI.

Aira

Stockholm-based Aira secures €145M in series B round funding with leading climate tech investors from Europe, the US and Asia. The financing was significantly oversubscribed and upsized from its initial €85 million target. The transaction was led by Altor, Kinnevik and Temasek. The equity funding will allow Aira to further accelerate the electrification of residential heating in Europe to enable European households to reduce their energy bills, to drive decarbonisation, and to reduce dependency on imports of natural gas.

13books Capital

13books Capital secures £121 million in funding dedicated to fuelling the next wave of financial technology (fintech) disruptors. This fund upholds 13books Capital's dedication to supporting forward-thinking entrepreneurs who are revolutionising the financial services industry. The group has made successful investments in 19 fintech firms to date, including Roadzen, Hepster, Coincover, Runa, Billhop, Thirdfort, Duco, nCino, Fenergo, and ErisX. The company's network of 34 elite founders and business titans, including Limited Partners (LPs), offers unmatched entrepreneurial experience, connections, and knowledge to entrepreneurs.

Yondr

Yondr Group, a leading global developer, owner and operator of hyperscale data centers, raises $150 million in funding from the International Finance Corporation (IFC), the largest global development institution focused on the private sector in emerging markets and a member of the World Bank Group, to fund the construction of the first phase of its hyperscale campus in Johor, Malaysia. 

CatalYm

CatalYm secures $150 million in series D round funding. The oversubscribed round was led by new investors, Canaan Partners and Bioqube Ventures, and joined by Forbion’s Growth Opportunities Fund (“Forbion Growth”), Omega Funds and Gilde Healthcare. Existing investors Jeito Capital, Brandon Capital Partners, Novartis Venture Fund and Vesalius Biocapital III also participated in the round.

Tree Energy Solutions

Tree Energy Solutions (“TES”), a global green energy company leading the way in the production of e-NG (electric natural gas derived from green hydrogen) with a mission to deliver reliable and affordable green energy through giga-scale projects, secures its third fundraising round at €140m.This new capital will be used to develop TES’ global portfolio of green energy production and import projects.

Kurma Partners

Kurma Partners, an asset manager focused on improving human health, secures €140 million in first close of mew €250 million Biofund IV, successfully completing the first closing of Biofund IV. Kurma aims to have raised a total of EUR 250 million in its newest and largest venture capital investment fund to date by the final closing in 2025.

Nearfield Instruments

Nearfield Instruments, the developer of state-of-the art Metrology & Inspection (M&I) solutions for the semiconductor manufacturing industry, raises €135 million in series-C funding round.The oversubscribed funding round is led by two new major investors, Walden Catalyst, an industry leading US venture capital firm helping the next generation of category-defining businesses in deep-tech, and Temasek, a global investor that also looks into opportunities in emerging technologies to solve complex and high impact challenges, and address market inflections.

Pigment

Pigment Secures €133 million in series D round funding, led by ICONIQ Growth, who also spearheaded Pigment’s Series C investment close to a year ago.Sandberg Bernthal Venture Partners as well as several other existing investors including IVP, Meritech, Greenoaks and Felix Capital have also participated in the round, demonstrating continued confidence in Pigment’s long-term growth trajectory.

Founderful

Swiss pre-seed fund Founderful has raised €133 million for its second fund, despite challenges in the European venture capital market. The fund has already invested in 15 early-stage companies, supporting innovations like Chiral Nano’s new silicon chips and Eigthinks’ improvements to lithium-ion batteries.

Axeleo Capital

Axeleo Capital, a French venture capital firm, has raised €125 million for its Green Tech Industry I fund. The fund is supported by three main investors: the Révolution Environnementale et Solidaire fund, Bpifrance, and the Fonds National de Venture Industriel (FNVI). Led by Guillaume Sarlat and Marc Lechantre, the Green Tech Industry I fund aims to finance sustainable and innovative green technologies across Europe. By combining financial expertise with industrial know-how, the fund will help start-ups as they build their initial facilities and grow their operations.