Young startups — those launched in 2023 or 2024 — have raised a total of €3.1bn so far in 2024, according to Sifted data. 

More than half (51.5%) of the total funding raised was secured by companies using AI as their core tech —  despite AI startups only closing 9.8% of the 686 rounds announced. The three largest deals for startups launched after 2023 are all foundational AI: Mistral (€600m between Series B and debt), Poolside ($500m Series B) and H (formerly Holistic AI, $220m seed round) raised 40% of funding raised by companies founded in 2023 or 2024.