The Transatlantic Deep Tech Report 2026

US and European deep tech, the state of the market. Created by Drumbeat Capital, powered by Dealroom data.

Key findings

• US deep tech funding reached $141B in 2025, double the $69.6B raised in 2024 and nine times Europe's $15.5B.
• Europe now closes more deep tech rounds than the United States, even as US deep tech dollars run nine times higher.
• The US-Europe funding gap is 2x at early stages and widens to 16x at later stages.
• The Bay Area is home to 16% of deep tech startups but takes more than half of all capital raised.
• Deep tech is the largest category of US venture capital and accounts for 26% of European VC.