Week 46 funding recap: €1,652.4M raised, led by London and Munich
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Europe’s startups announced 19 equity rounds worth €1,652.4M between 7 and 13 November, 260% more money than the previous seven days.
That is five rounds fewer than the 24 of the week before, which raised €459.1M once late announcements were added to the €202.0M reported in the week 45 recap. The median round rose from €6.65M to €15M, and the biggest grew from €118.4M (T-Therapeutics, Series B) to €633.4M (UFORCE, Series A).
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UFORCE raised a $700M Series A led by Valor Equity Partners and the UK National Wealth Fund, which supplied 38% of the total. Agile Robots added €452.4M through a $500M Series F led by SoftBank, and Onodrim Industries added €268.7M through a $300M Series A led by Lux Capital. Those three rounds make up 82% of the week’s money. The other 16 rounds raised €297.9M between them, 35% below the previous week’s total.
The rounds that moved the total
Eight largest rounds, €M
The three largest rounds made up 82% of the week's money.
Eight largest rounds, €M. Ranking, 8 rows. 1. UFORCE · Series A €633.4M, 2. Agile Robots · Series F €452.4M, 3. Onodrim Industries · Series A €268.7M, 4. sennder · undisclosed €73M, 5. Oyster Therapeutics · Series A €54.1M, 6. SRTD Biotech · Seed €31.5M, 7. Tendrils Compute · undisclosed €27.1M, 8. Sumary · Seed €22.3M.
London and Munich took 70% of the money
London startups raised €704.0M across five rounds, mostly UFORCE, and Munich added €452.4M through Agile Robots alone. Together the two cities drew €1,156.4M. Amsterdam followed with €268.7M for Onodrim Industries, then Berlin with €73M for sennder. Four rounds worth €68.6M have no headquarters city recorded.
Money by headquarters city, €M
Six cities, ranked by equity raised.
Money by headquarters city, €M. Ranking, 6 rows. 1. London €704.0M, 2. Munich €452.4M, 3. Amsterdam €268.7M, 4. Berlin €73M, 5. Paris €27.4M, 6. Cambridge €27.1M.
Three Series A rounds raised 58% of the week
UFORCE, Onodrim Industries and Oyster Therapeutics raised €956.2M between them, 58% of the total. Series A rounds fell from 7 to 3 against the previous week, the largest drop of any band. Pre-seed and seed slipped from 8 to 7, Series B and later held at 2, and the 7 rounds with no disclosed stage match last week.
Rounds by stage band, previous week vs this week
Number of equity rounds announced.
Rounds by stage band, previous week vs this week. Paired bars. Pre-seed and seed: 8 then 7 (-1); Series A: 7 then 3 (-4); Series B and later: 2 then 2; Not disclosed: 7 then 7.
Every round this week (19)
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Onodrim Industries raises $300M Series A to buy defense suppliers
Amsterdam-based Onodrim raised $300M at a $1.3B valuation, nine months after its seed, to take controlling stakes in European defense and industrial suppliers.
Stéphane Paillard
sennder raises €228M in equity and debt for road freight
Berlin's sennder pairs €73M of equity from Scania and Poste Italiane with €155M of credit from Coface, the EIB and Deutsche Bank, with profitability reached.
Stéphane Paillard
Oyster Therapeutics raises $60M Series A for an oral tau degrader
Eli Lilly joins a $60 million round led by 4BIO Capital in London's Oyster Therapeutics, which is developing oral tau degraders designed to reach the brain.
Stéphane PaillardHow we count: equity rounds by European companies announced in the 7 days to Friday, from Sesamers funding records. Grants, debt and M&A are excluded. Amounts are converted to euros on the day of the announcement. Figures can move as late announcements are added. See all rounds in the funding tracker.
