European AI startups raised $8 billion in 2024: France, UK and Germany lead the way

In 2024, European artificial intelligence startups attracted $8 billion in investments. In a few days, France will host the Artificial Intelligence Summit, where world leaders will meet with the heads of global tech companies.

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It is expected that significant investments and diplomatic agreements will be announced, including those related to the safety and environmental impact of AI.

Ahead of the summit, venture capital companies Galion.exe, Revaia, and Chausson Partners published the French AI Report, which examines the main trends in the development of the tech ecosystem. Although attention is currently focused on the United States and China, where OpenAI and DeepSeek are attracting billions of dollars in investments, Europe is also showing a rapid development of AI startups. In 2024 alone, startups in this field received about 20% of all venture capital investments in Europe.

In total, European AI companies raised $8 billion, with 70% of this amount going to Seed and Series B startups. Large investment hubs such as the UK, France, and Germany have become major centres for AI. An important aspect is that larger AI companies are attracting international investors, especially US venture capital firms, which take 50% of investments at the Series C stage and beyond.

France, in particular, has more than 750 AI startups that have created 35,000 jobs and are engaged in all areas that are transforming modern society. Artificial intelligence is actively developing in areas such as healthcare, climate, and agricultural technology. For example, Owkin and Bioptimus are developing biotechnology and healthcare solutions, while climate technology startups focus on carbon and energy management.

Source: thefrenchreport