European startup funding to drop 38% in 2023 — but there’s cause for hope

European tech startups will see a 38% investment drop in 2023 compared to 2022 levels, the latest report by Atomico finds. Specifically, startups are expected to raise $51bn in funding — down from $83bn in 2022 and $106bn in 2021. But Europe isn’t alone in navigating a tough year for tech. The US and China are also looking at a 49% investment decrease in 2023 compared to 2021. According to the report, this global retraction in funding has a domino effect on the flow of capital between the regions. For Europe, this translates to a significant reduction of capital from…

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