Cloud: 10 companies that raised the most in 2025

Funding activity among European cloud companies in 2025 was characterised by a small number of large transactions alongside a broader range of early- and growth-stage rounds. The largest deals accounted for a significant share of the total capital raised, reflecting the substantial funding requirements of cloud and AI infrastructure businesses. Geographically, funding activity was spread across Europe, with the Netherlands, Italy, Germany, Spain and the UK emerging as the most active markets.