According to the Tech.eu database, European tech companies raised €4 billion over the course of October 2024. This figure is nearly the same as last month when European tech companies raised €4.2 billion in September. Compared to October 2023, however, the amount has risen by nearly 20 per cent, as European tech companies raised €3.4 billion during that month.
Verónica Trapa, General Partner at Swanlaab Venture Factory, commented on the October numbers within the European tech investment landscape in our October Tech.eu Pulse, a compact version of the monthly report:
At Swanlaab, we clearly see Europe’s growing momentum in innovation. Strong investments in energy, healthtech and fintech show a market aligned with global challenges, while the UK, Spain and Lithuania exemplify a diverse, interconnected landscape.
Steady M&A activity signal enduring confidence in European startups and we anticipate continued growth across sectors, driven by Europe’s commitment to impactful, sustainable innovation.
For her more detailed review as well as more in-depth analyses of the European tech ecosystem, including industry and country performance, exit activities and more, check out our October report.
And here is the list of 10 biggest European tech deals in October which collected together around 60 per cent of the total amount collected this month.
Vinted (Lithuania)
Industry: Fashion
Amount raised: €340M
Vinted is Europe’s largest online C2C marketplace for second-hand fashion, with millions of members across 20+ markets in Europe and North America.
Driven by a mission to make second-hand fashion the first choice globally, Vinted connects people to buy and sell pre-owned clothes and lifestyle items, promoting sustainable consumption by giving items multiple lives. Launched in 2008 in Lithuania, Vinted became the country’s first unicorn in 2019 and is headquartered in Vilnius, with additional offices in Amsterdam, Berlin, Hamburg, Kaunas, and Paris.
In October, the company secured €340 million in a secondary share sale, bringing its valuation to €5 billion.
Zepz (UK)
Industry: Fintech
Amount raised: $267M
Zepz (previously known as WorldRemit) is a leader in the money transfer sector.
The company ensures fast, secure, and convenient money transfers. Most importantly, with exchange rates that beat most traditional banks and money transfer services, Zepz helps clients’ hard-earned money go further.
Headquartered in London, Zepz has regional offices beyond the United States, including South Africa, Uganda, Kenya, Rwanda, Tanzania, and Zimbabwe.
At the beginning of October, the company successfully raised $267 million to expand into African markets.
Job&Talent (Spain)
Industry: Jobs recruitment
Amount raised: €250M
Job&Talent is a global marketplace connecting essential workers with companies through its tech-driven platform, enabling reliable, flexible work opportunities for individuals and agile workforce solutions for businesses.
Founded in 2009 and headquartered in Madrid, Job&Talent operates remotely across 10 countries in Europe, the U.S., and Latin America.
The company successfully closed a €250 million working capital facility from Barclays and Fasanara Capital.
Nelly (Germany)
Industry: Back office
Amount raised: €100M
Nelly is an innovative healthcare payments company transforming medical practice workflows with advanced patient check-in and check-out software.
The company is dedicated to simplifying workflows in medical practices, significantly reducing administrative burdens for doctors, medical and dental assistants, and patients. With 90% of medical professionals citing bureaucracy as a primary challenge, Nelly aims to create a more streamlined, stress-free environment, allowing healthcare providers to focus on what matters most: patient care.
Powered by a skilled team passionate about tech and data-driven solutions, Nelly is focused on delivering efficient, impactful tools for healthcare providers.
Nelly received €100 million in external capital from the Vereinigte Volksbank Raiffeisenbank (VVRB).
Gropyus (Austria)
Industry: Real estate
Amount raised: €100M
Gropyus is pioneering sustainable building solutions that redefine the construction industry through advanced technology.
By treating homes as products, the company achieves genuinely sustainable and affordable buildings, with sustainability integrated into every phase—from design and production to construction and asset management.
Gropyus mission is to set a new standard for sustainable living while conserving the planet’s resources.
In the first week of October, Gropyus raised €100 million to advance the development of sustainable buildings.
Green Genius (Lithuania)
Industry: Energy
Amount raised: €100M
Green Genius is a European renewable energy company developing 2 GW of biogas, biomethane, wind, and solar projects across eight countries.
With over 15 years of experience, the company is committed to advancing the shift to renewable energy. Their projects produce 320 GWh of green energy annually, offsetting more than 212,000 tons of CO₂ emissions.
In their recent round, Green Genius received €100 million in equity investment from the European Bank for Reconstruction and Development (EBRD).
Agomab Therapeutics (Belgium)
Industry: Healthtech
Amount raised: $90M
Agomab is a biotech company focused on creating innovative therapies to preserve and restore organ function in fibrotic diseases.
Leveraging deep expertise in growth factor biology, Agomab is pioneering treatments that address fibrosis, repair tissue, and restore organ health. Their advanced R&D approach and ambitious corporate strategy drive the development of a diverse clinical pipeline targeting two critical pathways in fibrosis: transforming growth factor beta (TGFβ) and hepatocyte growth factor (HGF).
Recently, Agomab Therapeutics NV(Agomab) has closed a $90 million Series D financing round.
Terralayr (Switzerland)
Industry: Energy
Amount raised: €77M
Terralayr is a company that is redefining energy management with a cloud platform that enables seamless, flexible access to renewable energy and battery storage solutions.
With a mission to ensure a stable, sustainable power supply, Terralayr is making renewable energy accessible and reliable for businesses of all sizes, empowering them to adopt green solutions and drive a global shift toward sustainability. Much like AWS transformed tech by democratizing computing resources, their platform is designed to do the same for clean energy flexibility—helping stabilize the grid and facilitating a future fueled entirely by renewables.
In October, Terralayr secured €77 million for its ‘energy flexibility as a service’ platform.
Dexory (UK)
Industry: Logistics
Amount raised: $80M
Dexory is revolutionizing the logistics industry by harnessing the power of artificial intelligence and robotics.
The company’s mission is to simplify complexity and unlock valuable data insights that propel businesses forward. Driven by a passion for robotics and innovation, Dexory delivers cutting-edge autonomous solutions that boost efficiency, predict outcomes, and support growth for every company we partner with.
In their latest Series B funding round the company successfully closed an $80 million investment.
Nuclera (UK)
Industry: Healthtech
Amount raised: $75M
Nuclera is a pioneering company revolutionizing protein prototyping by bringing it directly to the benchtop with our eProtein Discovery™ technology.
Their innovative platform accelerates breakthrough advancements in human health by providing life science researchers with easy access to target proteins, unlocking new possibilities in drug discovery and biological research.
Nuclera has raised a $75 million Series C financing round which brings the company’s funding to over $140 million.
By Tech.eu
Source: Tech.eu