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European VC Landscape – November 2023

Even though November ended with a decrease in the number of investments, it also marked a 35% increase in the VC investment volume. Explore all the details in this month's analysis.

12.12.2023

Invested VC volume increased by 35% in November compared to the previous month, despite a decrease in investments

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

Number and amounts of announced funding rounds second semester 2023
(1) All data from crunchbase, as of December 4, 2023

AI startups take the third place for the most popular investment industry

  • During November, 368 financing rounds were announced.
  • The total amount invested in the announced financing rounds was $3.9bn, increasing by 35% compared to the previous month.
  • Similar to previous months, most investments were made in Software companies, amounting to 84 investments. Investments in AI (48) take third place.

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 November 2023

Bpifrance is once again the most active investor

Investors with the highest number of investments in November

Investors with the highest number of investments in November 2023

Number and total volume of financing rounds per stage

Number and total volume of financing rounds per stage November 2023

Largest round of November was a Series B of $500.0mn

In November, most investment rounds were Seed Rounds (~42%). Despite that, the largest volume of $1.2bn was invested in only 20 Series B Rounds. No Series D Round was conducted.

Table comparing investment rounds in November 2023

London is the European venture capital industry hotspot, while Paris takes the second spot; Heidelberg places second by volume

  • The most investments in November were conducted in the UK (83), followed by France (61) and Germany (33).
  • When ranking by investment volume instead of the number of conducted investments, London remains in first place ($1,112mn). However, Heidelberg ($500mn) would take second place, followed by Amsterdam ($207mn).
Map showcasing the countries with most investments in November 2023

In the spotlight: Aleph Alpha raised $500mn in November in a Series B round

Company

Aleph Alpha logo
Industry

Software, AI

Founded in

2019, Heidelberg (GER)

One-Sentence-Pitch

Aleph Alpha specializes in researching, developing, and implementing AI-based technologies for both public and private sectors.

Financing round

Money raised

$500mn

Type of financing round

Venture Round

Comment/Quote

Following a Seed Round of $6.4mn and a Series A Round of $27.2mn, Aleph Alpha raised a $500mn Series B Round. The company represents one of the strongest European competitors to U.S. dominance in the field of AI.

Investors

Logos of Aleph Alpha's Investors

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