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European VC Landscape – January 2023

Could the prevalence of seed rounds, accounting for 40% of all the conducted rounds in January, indicate a strategic shift in investment preferences? Discover more insights in our latest analysis.

02.01.2023

2023 starts with 430 VC investments in January, showing a slight decline in the number of investments.

Number and amounts of announced funding rounds over the past 6 months*

Number and amounts of announced funding rounds February to January 2023.
* All data as of February 9th, 2023

Software startups are once again the most popular investment

  • During the month of January, 430 financing rounds were announced.
  • The total amount invested in the announced financing rounds decreased to $3.4bn from $3.6bn in December.
  • Once again, most investments were made in Software companies, amounting to 99 investments, followed by information technology (54). In January , investments in health care companies make up the third place  (48).

Top 10 industries of financed startups according to the number of conducted investments

Top 10 industries of financed startups according to the number of conducted investments January 2023.

BPIFRANCE is the most active investor of January; 40% of the month’s rounds were seed rounds.

Investors with the highest number of investments in January

Investors with the highest number of investments in January 2023.

Number and total volume of financing rounds per stage

Number and total volume of financing rounds per stage January 2023.

Largest round was a Series D Round of $230.8mn

In January, most investments rounds were Seed rounds. Despite that, the largest volume of invested money was in Venture Rounds ($1,170mn). Only 1 large Series D round was conducted.

Table comparing investment rounds in January 2023.

London, UK, is once again the European startup hotspot of the month

  • Not only were the most investments conducted in the UK (#107), but the highest volume was also invested there during January ($1,158.6mn).
  • Second most active country to raise venture capital is
    France (54 investments, $683.3mn) and then Germany
    (48 investments, $541.7mn).
Map showcasing the countries with most investments in January 2023.

In the spotlight: Enpal raised $230.8MN in January with the help of 6 investors.

Company

Enpal logo.
Industry

Renewable (Solar) Energy

Founded in

2017, Berlin

One-Sentence-Pitch

Enpal is a photovoltaics leasing firm that provides solar power systems for homeowners.

Financing round

Money raised

€215mn ($230.8mn)

Company valuation

€2bn (pre-money)

Type of financing round

Series D

Comment/Quote

Enpal raised €215mn ($231mn) in their 13th funding round.  Since 2017, Enpal raised a total of €1.7bn with the help of 30 investors. During the latest Series D round, the company was valued at €2bn.

Bloomberg.com

Investors

Logos of Enpal's Investors.

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