March 24, 2026
The European Deep Tech Report 2026
The fifth annual European deep tech report. Packed with data and insights on breakthrough innovation, European competitiveness, and the state of play in key frontier technologies. Created in partnership with Lakestar, Walden Catalyst and Hello Tomorrow.
Key findings
- Deep Tech took 32% of all European VC funding in 2025, an all-time high and more than double its 15% share in 2015.
- US Deep Tech funding grew 92% to $144bn in 2025 while Europe grew 21% to $20bn, and AI model makers account for over half the US total.
- The UK attracted the most European Deep Tech funding in 2025 with $5.2bn, ahead of France at $3.9bn and Germany at $3.2bn.
- Only 54% of funding for European Deep Tech rounds above $15m comes from within Europe against 80% in the US, and reaching the US share would need another $4.0bn a year.
- European defence startups raised a record $1.8bn in 2025, more than double 2024's $792m, led by Helsing's €600m round and drone makers.
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Selected charts
Companion charts derived from this report — open any chart in full-screen on the right side.
European Deep Tech Segment Maps
How European deep tech splits across the segments tracked in the 2026 report — quantum, biotech, robotics, semiconductors, energy, more.
Mega-rounds in deep tech by year
$250M+ mega-rounds in deep tech, year by year, from the European Deep Tech Report 2026.
Defence now takes 43% of European Deep Tech VC
Defence, Security and Resilience startups accounted for 43% of European deep tech VC in 2025, roughly twice their 2022 share.
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