- European space tech startups secured $2.4 billion in VC funding in H1, up from last year's total by almost $1 billion, according to PitchBook's report.
- In June, Iceye raised more than €1 billion (about $1.2 billion) for its Series F at a €10 billion-plus valuation.
- The Iceye round is the largest deal to have closed in the space globally and accounts for half of European funding this year.
- Even excluding the Iceye round, deal value is tracking for a record year, with 46 rounds closed at the halfway point.
- Globally, more than $11 billion has been invested across 245 deals, with Europe moving into second place for global deal value.
European space tech startups secured $2.4 billion in VC funding in the first half of 2023, a significant increase of nearly $1 billion from last year, according to PitchBook.1
The continent's share of global funding rose to 21.1%, up from 15.1% in 2022, while North America's share dropped from 65.9% to 56.9%.
A major contributor to this surge was Iceye, a Finnish company that raised over €1 billion (approximately $1.2 billion) in its Series F funding round, achieving a valuation exceeding €10 billion. This round is noted as the largest deal in the global space sector and accounted for half of European funding this year.23
Despite Iceye's significant contribution, the overall deal value in Europe is on track for a record year, with 46 rounds closed so far, indicating a potential best annual total since the peak in 2021.45
Globally, space tech investments mirror this trend, with over $11 billion invested across 245 deals in the same period.6
The data suggests that while Europe has moved into second place for global deal value, it still trails behind North America, highlighting a shifting landscape in the space tech funding arena.
“The Finnish company's Series F, at a €10 billion-plus valuation, is the largest space deal globally and accounts for half of European funding this year. Even excluding Iceye, deal value is tracking for a record year, with 46 rounds closed at the halfway point.”
Yahoo! Finance Canada
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