European VC funding at a high level

Europe's startups raised $58.6 billion in the first half of this year. This is the second-best half-year ever.

Despite fears of a slump in the economy, the current investment climate looks positive for European startups. In the first half of 2022, European startups raised $58.6 billion, according to a report by Silicon Valley Bank and Dealroom. According to the report, German startups raised around seven billion U.S. dollars. This puts them in third place behind France (9.7 billion) and the UK (20.8 billion).

"The fact that Europe recorded the second highest half-year result in VC funding confirms that there is opportunity for companies with a solid business model to seek and secure investment," said Simon Bumfrey of Silicon Valley Bank UK.

Overall, all European startups are currently worth a combined $3.1 trillion. This represents a year-on-year increase in the value of European startups. Currently, there are 500 unicorns in Europe. This year, new European unicorn cities have also been added. Among them are Chemnitz, Como (Italy), Sofia (Bulgaria) and Athens (Greece).