Dealroom report – AI Europe report 2024
Description
Key learnings:
- Significant Growth in AI Funding:
- AI now accounts for a record 18% of venture capital (VC) funding in Europe. In 2024, AI funding is on track to vastly surpass the previous year but will fall slightly short of the 2021 peak in absolute dollar terms. Over the last decade, AI funding in Europe has grown tenfold.
- Keywords: AI funding growth, venture capital, Europe AI funding, record share.
- Dominance of Key European Countries in AI Investments:
- The UK, France, and Germany are leading AI investments in Europe, with London, Oxford, Paris, Munich, and Berlin being major hubs. In 2024, the UK is the top geography with $2.1 billion, followed by France and Germany. France has the highest share of AI funding, and these three countries attracted 77% of all AI funding in Europe in 2023-2024.
- Keywords: AI investment, UK, France, Germany, leading countries, funding concentration.
- Surge in Generative AI Funding:
- Generative AI funding in Europe in 2024 has already surpassed any previous year after less than six months. Most of this funding is going to model makers and applications with proprietary models. Generative AI is also seeing unprecedented growth in funding median round size, outpacing conventional AI and non-AI sectors.
- Keywords: Generative AI funding, model makers, proprietary models, unprecedented growth.
#AI #AI funding growth #venture capital #Europe AI funding