Reality Check: European Tech Funding Drops by 42% in 2023

In 2023, the European technology landscape faced a significant reality check, as evidenced by data published by Sifted.

Funding for European startups throughout 2023, up to December 5, experienced a notable 42% decline when compared to the previous year, 2022.

The most substantial decline was observed in Series C and beyond funding rounds, where the total funds raised were reduced by half, marking a decrease from $61.4 billion in 2022 to $30 billion in 2023.

Across all European countries monitored by Sifted, there was a consistent decrease in the total funding amount when compared to the previous year, with the exception of Denmark, which managed to match the €1.4 billion it raised in the preceding year.