European tech weekly recap: More than 70 tech funding deals worth over €3.9B

Last week was a big one for European tech funding: more than 70 deals and over €3.9 billion tracked across the continent, plus more than five exits, M&A transactions, rumours, and related stories. The money was lumpy, though. One deal towered over everything else, and cloud was the industry that soaked up the largest share by far.

The top three sectors were cloud at €2.95 billion, cleantech at €193.6 million, and energy at €186.1 million. By country, the UK led with €3.1 billion, followed by Sweden at €305.8 million and Germany at €215.1 million. That’s a fairly familiar leaderboard, but the gap at the top was striking.

The biggest headline was Nscale’s $3.36 billion pre-IPO financing in the UK, aimed at full-stack AI cloud expansion. Germany had a busy week too, with Reverion raising €154 million and saying it plans to hire 800 people in a new factory. Sweden’s Voi also turned up with €150 million in RCF financing to redeem outstanding bonds and grow its fleet.

And the list kept going: Onomondo raised more than €100 million in Denmark, Breye Therapeutics took in €67.5 million, and AnaCardio raised €62.5 million in Sweden. Farther down the table, there were seed rounds, pre-seed cheques, public funding, and strategic commitments spread across everything from AI and robotics to healthtech, construction, and energy flexibility. It was the sort of week that says Europe is still capable of producing both giant rounds and a lot of smaller, stubbornly practical ones.