Startups Hit €200 Million+ in 2024 Funding Report

Discover the startups that raised over €200M to less than €500M this year, fueled by innovations in AI, sustainability, and digital transformation. These trends are paving the way for European startups to grow and compete globally.

Local startups and venture capital firms that raised over €200 million in funding have collectively secured more than €9333.24 Million in 2024.

Here Are 2024’s €200M to €500M Funded Startups

Irish Venture Capital Association

Irish Venture Capital Association VenturePulse survey in association with William Fry, VC funding of €494 million into Irish SMEs in Q2 was the second highest on record, up 7% on the same period last year.

Zenobē

Zenobē, the leading EV fleet and battery storage specialist, raises an additional £410 million in funding– securing the largest electric bus platform financing in Europe.

Helsing

Defence AI company Helsing secures €450 million in a series C round funding led by General Catalyst, with participation from Elad Gil, Accel, Saab, Lightspeed, Plural and Greenoaks.

DTCP

DTCP, an independent investment management firm focused on digitization and automation, secures €420 million of its DTCP growth equity III fund and an initial closing of its additional B2B early stage investment fund.

Parquest

Parquest, a leading independent French mid-market private equity firm, secures Parquest III (“the Fund”), with total limited partner commitments of €414M.

Plural

London-based Plural secures €400 million funding. Raised barely 18 months after the first fund, the new funding maintains Plural's momentum from its first 26 investments, the growth of the platform scaling and investing team, and the strong interest from seasoned LPs to participate in Plural's unique business model.

Monzo

London-based Digital Bank Monzo secures €397 million in funding. CapitalG, the well-known autonomous growth fund of Alphabet that has supported startups like Stripe and Airbnb, led this round.

Highview Power

Highview Power has secured the backing of the UK Infrastructure Bank and the energy industry leader Centrica with a £300 million investment for the first commercial-scale liquid air energy storage (LAES) plant in the UK.

Lighthouse

Lighthouse, a top commercial intelligence platform for the travel and hospitality industry, has raised $370 million in Series C funding led by KKR.

Speedinvest

Speedinvest Secures €350 Million in Funding. With this additional funding, Speedinvest's total assets under management (AUM) now exceeds €1 billion.

Vinted

Lithuanian second-hand marketplace Vinted has strengthened its position as a European leader by securing €340 million in funding led by asset manager TPG. This funding raises Vinted’s value to €5 billion, up from €3.5 billion in 2021.

Norrsken

Stockholm-based venture capital firm Norrsken a pioneer in impact investing in Europe, secures oversubscribed second fund at €320 million to help entrepreneurs solving the biggest challenges facing humanity.

Electra

Fast-Charging EV Network Electra Secures €304 Million in Funding. In just three years, the company has raised around €600 million in funding to establish one of the first charging networks in Europe. In the charging industry, this €304 million fundraising effort is the biggest in France and the second-biggest in Europe. By 2030, there should be close to 30 million electric cars on European roads.

World Fund

World Fund, one of European venture capital firm, has secures €300 million first fund. Prominent supporters include NRWbank, Ignitis Group, BPI France, PwC Germany, EIF, KfW Capital, Wachstumsfonds, and PwC Germany. The UK Environment Agency Pension Fund, Wiltshire Pension Fund, and Croatia's Erste Plavi are among the pension funds that have joined the fund. Ecosia, the biggest independent search engine in Europe, invested funds as the World Fund's initial investor.

Imec.xpand

An independent worldwide venture capital firm called imec.xpand, with headquarters in Leuven, has raised a new fund valued at €300 million with the goal of spurring the development of breakthroughs in nanotechnology and semiconductors.

Sunly

Tallinn-based Sunly, a renewable energy producer, announced that it has secured €300M in debt financing to drive the development of 1.3 GW of solar, wind, storage, and hybrid parks in the Baltics and Poland.

Clean Energy Ventures

Clean Energy Ventures (CEV), a leading global venture capital firm funding early-stage climate innovations, secures €281 million in oversubscribed second fund with total capital commitments of $305 million.

DeepL

Cologne-based DeepL , a leading Language AI company, secures €277 million in funding at a $2 billion valuation. Led by Index Ventures, the heavily oversubscribed round attracted strong support from new investors, who will bring their extensive expertise, connections, and resources to support DeepL’s growth and long-term vision to transform the way companies communicate around the world.

Everphone

Berlin-based Everphone raises €270million in series D round funding from Capnor and their partner Calista, as well as from existing investors including Cadence Growth Capital and founder Jan Dzulko himself. Existing investors like Cadence Growth Capital, signal ventures, and Alleycorp continue as reliable and strong partners, firmly supporting Everphone’s growth ambitions. This further strengthens Everphone’s position as a global leader and the most sustainable Device-as-a-Service platform.

Kennet

Transatlantic growth equity investor Kennet has secures €266M for its largest fund to date, Kennet VI. With this cash, It has already started investing in B2B SaaS firms throughout Europe, such as Fluid Topics in France and Screendragon in the UK and Ireland. Kennet VI expands upon the profitable investment strategy and five-fund track record of its predecessor. With more than 25 years of expertise, It has demonstrated success in a number of market cycles.

Zepz

Zepz, formerly known as WorldRemit, has successfully secured $267 million in funding to drive its expansion into African markets. The funding round, led by Accel, also involved TCV and Leapfrog, with a commitment of up to $20 million from the International Financial Corporation.

Black Semiconductor

Black Semiconductor, a pioneer in next-generation chip technology, raises €254.4 million in seed funding, one of the largest funding for a deep tech company manufacturing chips in Europe to date.The company has secured EUR 228.7 million public funding1 from the German Ministry of Economic Affairs and Climate Action and the state of North Rhine-Westphalia over the next 7 years under the IPCEI ME/CT2 program.

Nebeus

Barcelona-based Nebeus raisess €250million in funding for its crypto-backed loan programme. Nebeus offers a low-interest rate structure and a secure service to both corporate and consumer clients. This program satisfies the growing need for quick access to capital by enabling people and companies to use bitcoin assets for real-world financial opportunities.

Kao Data

London-based Kao Data secures £206million in debt funding with an accompanying accordion facility extendable to £356 million, via one of the world’s leading lenders to the data centre sector, Deutsche Bank. The announcement marks a significant step forward for Kao Data, providing debt financing to fast-track its new contracted developments with customers across the cloud, AI and financial services, and the build-out of its KLON-06 data centre in Slough.

Bolt

Bolt, a multinational shared mobility platform with its headquarters located in Tallinn and formed in 2013, has obtained finance for a syndicated revolving credit facility (RCF) of €220 million. The facility saw strong demand at first, was significantly expanded throughout syndication, and was eventually oversubscribed, demonstrating the financial institutions' faith in Bolt's future prospects and sound financial standing.

Vsquared Ventures

Vsquared Ventures, one of Europe’s leading early-stage deep tech funds, secures €214 million in funding . Oversubscribed at €214 million, Vsquared closes Vsquared II, surpassing the original €165 million target size. The fund solidifies the deep tech trend in Europe by being the biggest early-stage European fund to date.

Ocean 14 Capital Fund I

Luxembourg-based Ocean 14 Capital Fund I, which has raised €201 million to further its goal of supporting long-term solutions that enhance ocean health. The Fund now has more than €240 million as a result. The goal of the Ocean 14 Capital Fund is to promote a "blue economy" that is both sustainable and regenerative, one that makes use of ocean resources for both preservation and economic expansion.

HysetCo

Hy24, the world’s leading clean hydrogen pure-play investment manager, and HysetCo, a pioneer in hydrogen mobility solutions, secures €200million in funding to accelerate the decarbonization of urban transport. Hy24 is the leading investor on this funding round including also RAISE Impact and Eiffel Investment Group.

Armira Growth

Munich-based Armira Growth, a venture capital investing in tech and tech-enabled growth companies, raises €200million funding for its inaugural Armira Growth Fund I. Its investors and current portfolio companies, including Osapiens, Wemolo, Workwise, and Yoummday, provided the money. Scale-up founders who are thinking about working with Armira Growth are given a number of "compelling reasons."

SET Ventures

SET Ventures has closed its fourth fund at €200 million to back digital technologies which will facilitate the transition to a carbon-free energy system. Doubling the size of its previous fund, this new capital validates SET’s approach to investing in the evolving energy system that will be dominated by renewables.