Private equity data provider Pitchbook recently released their take on the top 10 venture deals of 2023 for Europe. The fascinating look is worth a read.
Number 10
Coming in at number 10 is Butternut Box. The London-based dog food company raised a whopping £280 million in October, valuing the company at over £500 million.
Number 9
In the ninth place was Aleph Alpha, a German OpenAI competitor that raised $500 million in November from well-known investors, including Innovation Park Artificial Intelligence, Bosch Ventures, and Schwarz Group.
Number 8
In the eighth spot was Getir. Although the company was valued at $2.5 billion in September, the valuation was well below what it was valued at in 2022, at $11.8 billion.
Number 7
In the seventh spot was Ledger. The Paris-based crypto wallet company secured almost €461 million from the likes of Cathay Innovation, Korelya Capital, and Molten Ventures, valuing the company at €1.3 billion.
Number 6
Coming in at the sixth spot was Cacaship.com. The company garnered $500 million in Series B funding to push the company’s globalization effort.
Number 5
In the fifth spot was Abound, one of the two fintech deals in the top ten. The AI-based lending platform secured £500 million in investment from the likes of K3 Ventures, GSR Ventures, and Hambro Perks. The £500 million raise was a massive step up from its 2022 Series A which totaled a paltry £8 million.
Number 4
Coming in at the fourth spot was Conigital. The UK-based developer of driverless vehicles saw a £500 million Series A+ investment was a strategic partnership with a private equity infrastructure firm in September 2023.
Number 3
In third place was YgEia3. The wellness testing company attracted a massive €683 million in investment in May from unknown investors.
Number 2
The running up in 2023 was Grenoble, France-based Verkor. The cleantech, low-carbon battery maker raised a whopping €850 million Series C through a round led by famed investment management firm Macquarie Asset Management. The total deal value was €1.4 billion.
Number 1
And the top spot for the 2023 year was H2 Green Steel. The Stockholm-based company raised €1.5 billion in September from an investor group led by Altor, GIC, Hy24, and Just Climate.
Summing Up
Overall, although 2023 was not exactly an outstanding year for venture deals, Europe still saw some large deals. The question now, of course, is how 2024 will play out. Here’s to good fortune.
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