European tech funding rebounds to €10.5B in May as mega-rounds power market recovery

Despite a decline in deal activity, May saw a significant increase in capital invested across European tech compared to April. A total of 258 funding deals were announced in May, down from 290 in April, representing an 11 per cent decline in deal activity. Despite the lower number of transactions, European startups raised €10.5 billion, more than double the €5.1 billion recorded in April, pointing to a month driven by larger funding rounds.