VC funding in Europe rose in Q3 2023, but favoured late-stage startups

In the third quarter of 2023, European startups raised $16.4bn (€15.6bn) in VC funding — a 28% increase quarter over quarter. The findings are based on an analysis by Crunchbase, which also unveiled that the fresh capital has mostly favoured late-stage rounds. In contrast, funding for seed and early-stage companies hit its lowest points since Q3 2022. Specifically, late-stage funding doubled quarter over quarter, reaching $10.5bn (€10bn) in total. Notably, VCs invested large sums in the sustainable energy sector, with big rounds raised by Sweden’s H2 Green Steel, battery manufacturers Northvolt and Verkor, and London-based battery storage startup Zenobe Energy.…

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