To put the monthly figure in context: in the first half of 2026, European tech startups raised €44.1 billion across just 1,740 deals — a six-year low in deal count — as venture capital narrowed around a handful of high-conviction AI and deep-tech plays . July continued that pattern.
July's standout transaction was Helsing, the Munich-based defence AI company, which closed a $1.8 billion Series E on 13 July at an $18 billion valuation . It is Europe's largest-ever funding round for a defence startup to date . Investors included Dragoneer Investment Group, Lightspeed Venture Partners, Disruptive, Iconiq, Growth Equity at Goldman Sachs Alternatives, JPMorganChase, Canada Pension Plan Investment Board (CPP Investments), General Catalyst, Plural, and Stepstone .
Artificial intelligence was the best-funded sector in July, attracting €1.8 billion — more than any other category . AI replaced robotics, which had topped the rankings in June with €1.3 billion .
This monthly figure is part of a much larger trend. In H1 2026, AI absorbed 60.3% of all European venture deal value, up from 37.9% for the full year of 2025 . European AI startups raised a record $23 billion in H1 2026, a 130% year-over-year surge .
Germany dominated July's regional rankings, with startups raising €3.5 billion across 48 deals . The country's deep-tech edge and the presence of Helsing contributed heavily to the total. German VC funding reached €6 billion in H1 2026, pacing for its best year for deal value since 2021's peak .
Exit activity accelerated notably in July, with 51 transactions recorded — comprising M&A, IPOs, and other exits . That compares with 39 exits in June and 39 in May, reflecting improving market liquidity and growing appetite for public listings and acquisitions . Across Europe in 2026 so far, seven billion-dollar startups have already found a buyer or gone public, matching Europe's previous full-year record .
July's data fits a broader pattern visible across 2026: European venture capital is delivering more money to fewer companies, and AI is the primary beneficiary. Seed-stage deal count across Europe is down 44% . The UK accounted for €18.7 billion of H1 capital — more than any other country — but Germany's July surge shows the ecosystem is distributed across multiple hubs .
To put the monthly figure in context: in the first half of 2026, European tech startups raised €44.1 billion across just 1,740 deals — a six-year low in deal count — as venture capital narrowed around a handful of high-conviction AI and deep-tech plays . July continued that pattern.
July's standout transaction was Helsing, the Munich-based defence AI company, which closed a $1.8 billion Series E on 13 July at an $18 billion valuation . It is Europe's largest-ever funding round for a defence startup to date . Investors included Dragoneer Investment Group, Lightspeed Venture Partners, Disruptive, Iconiq, Growth Equity at Goldman Sachs Alternatives, JPMorganChase, Canada Pension Plan Investment Board (CPP Investments), General Catalyst, Plural, and Stepstone .
Artificial intelligence was the best-funded sector in July, attracting €1.8 billion — more than any other category . AI replaced robotics, which had topped the rankings in June with €1.3 billion .
This monthly figure is part of a much larger trend. In H1 2026, AI absorbed 60.3% of all European venture deal value, up from 37.9% for the full year of 2025 . European AI startups raised a record $23 billion in H1 2026, a 130% year-over-year surge .
Germany dominated July's regional rankings, with startups raising €3.5 billion across 48 deals . The country's deep-tech edge and the presence of Helsing contributed heavily to the total. German VC funding reached €6 billion in H1 2026, pacing for its best year for deal value since 2021's peak .
Exit activity accelerated notably in July, with 51 transactions recorded — comprising M&A, IPOs, and other exits . That compares with 39 exits in June and 39 in May, reflecting improving market liquidity and growing appetite for public listings and acquisitions . Across Europe in 2026 so far, seven billion-dollar startups have already found a buyer or gone public, matching Europe's previous full-year record .
July's data fits a broader pattern visible across 2026: European venture capital is delivering more money to fewer companies, and AI is the primary beneficiary. Seed-stage deal count across Europe is down 44% . The UK accounted for €18.7 billion of H1 capital — more than any other country — but Germany's July surge shows the ecosystem is distributed across multiple hubs .