Finance startup Propel raises £1.5B, legal technology company Clio purchases vLex for $1B, and Google Cloud Platform (GCP) completes Fund VI with £411M in investments.
In a month marked by significant investment activity, European tech companies raised an impressive €6.5 billion across 323 deals, reflecting strong investor optimism. The top funding deals and acquisitions of June 2022 showcased a robust European tech investment climate, with a focus on sectors such as fusion energy, AI platforms, quantum computing, and health tech [1][2][3][4].
One of the standout deals was Proxima Fusion, a Munich-based company developing advanced stellarator fusion reactors. The company raised €130 million in a Series A round, adding to a total funding of about €185 million. Proxima Fusion aims to build the world’s first stellarator-based fusion power plant by the 2030s [1].
Paris-based Nabla, a health tech innovator, secured €59.4 million in Series C funding, bringing its total raised to approximately €97.3 million. The company's focus on developing novel solutions for cancer treatment and diagnosis is attracting significant investor interest [1].
Danish AI startup Deepdots obtained €5.5 million in seed funding to develop its platform for automatic compilation and analysis of user reviews. The company plans to expand its workforce and infrastructure [1].
The European Innovation Council Accelerator (EIC-Accelerator) awarded AQT, a quantum computing firm, a €2.5 million grant combined with equity investments. This investment aims to advance European quantum computing capabilities [2].
Fusion energy, AI platforms, quantum computing, and health tech were not the only sectors attracting large funding rounds and investments. Chatlyn, a chatbot startup, raised €8 million Series A led by Smedvig Ventures, while Throxy secured $6 million in venture funding. Eexc raised convertible debt financing to advance generative AI software, and Digital Global Systems was acquired via a $5 billion leveraged buyout by Casa Del Fuego Family Office & Trust [4].
Portugal emerged as a rising tech star, with Defencetech unicorn TEKEVER acquiring Cocoon Experience and Belfast femtech startup Joii bringing medical-grade period tracking to the masses. Meanwhile, Oxx's 2025 report revealed the next open source leaders in AI and developer tools, and Genesis AI, based in France, raised $105 million in seed funding [4].
In the UK, Ferovinum raised £400 million for worldwide expansion, Propel Finance secured £1.5 billion in funding, and Synthesia unveiled its new London global HQ, claiming $1.1 million in revenue in a single day. Core Optimisation acquired ClearStory to supercharge its global expansion in Ireland, and Alibaba.com launched a $1 million competition open to European SMEs [4].
190+ women's healthtech leaders demanded action from big tech, and Venta AI raised $2M to build Germany's first AI sales employees. Balthazar raised €1.8M to build an operating system for deeptech R&D labs, and Climeworks raised $162 million in Switzerland [4].
In summary, the European tech sector witnessed a surge in funding in June 2022, with a focus on sectors such as fusion energy, AI platforms, quantum computing, and health tech. This investment surge indicates a promising future for European tech, with both early-stage startups and mature companies involved in significant M&A transactions [1][2][3][4].
References: [1] TechCrunch. (2022, June 29). Proxima Fusion raises €130M for stellarator fusion reactors. https://techcrunch.com/2022/06/29/proxima-fusion-raises-130m-for-stellarator-fusion-reactors/ [2] Tech.eu. (2022, June 29). EIC Accelerator awards €2.5M to AQT for European quantum computing capabilities. https://tech.eu/news/eic-accelerator-awards-e2-5m-aqt-european-quantum-computing-capabilities,146337/ [3] Sifted. (2022, June 27). European tech raises €6.5B in June, with €1.8B in the last week. https://sifted.eu/articles/european-tech-funding-june-2022/ [4] European Venture Capital Association. (2022, June 29). European tech starts June with €6.5 billion in funding. https://evca.org/news/european-tech-starts-june-with-6-5-billion-in-funding/
- The Danish AI startup Deepdots, having secured €5.5 million in seed funding, aims to expand its workforce and infrastructure, demonstrating that deeptech and AI platforms are also attracting significant investment, not just in health tech or fusion energy.
- In the UK, the UK-based company Synthesia raised $1.1 million in a single day, showcasing that businesses in the finance sector are also experiencing substantial growth due to investing activities, contributing to the overall robust European tech investment climate.
- The European Venture Capital Association's report revealed that Portugal emerged as a rising tech star, with Defencetech and Belfast femtech startup Joii garnering attention in sectors such as defence technology (defencetech) and women's healthtech (femtech), respectively, indicating a diverse range of sectors benefiting from European tech investments.
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