Funding to European startups reached nearly $16 billion in Q2 2024, marking a 31% quarterly increase and a 17% annual rise. European startups received more funding than Asian counterparts, with Asia experiencing its worst quarter since late 2015 due to U.S.-China tensions. The UK led Europe with $6.7 billion, followed by France with $2.9 billion, while Germany saw a decline to $1.8 billion. AI attracted $3.3 billion in investments, leading other sectors. Late-stage funding rose to $7.5 billion, while early-stage funding hit $6.5 billion, with a notable increase in Series B funding. Paris-based startups saw significant acquisitions, and three new European unicorns emerged, totaling 208. Fintech company Revolut reported a 95% revenue growth in 2023, reaching $2.2 billion in revenue and $545 million in profit. Overall, European startups experienced a robust quarter, driven by gains in late-stage funding and contributions from the AI sector.
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