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European tech funding stalls in 2024 but IPO window to open: report

Economic Times · 1m

Venture capital firm Atomico's report reveals that funding for European tech startups in 2024 is expected to fall slightly below last year's levels, but there is a resurgence in opportunities for new listings. While Europe boasts over 350 companies valued at over $1 billion, only 15 European countries have witnessed IPOs of this magnitude, with nearly half occurring in the UK. The report predicts that venture capital funding for emerging tech companies in Europe will amount to $45 billion this year, a significant increase from $15 billion in 2015. However, this falls short of the record $101 billion raised in 2021 and the $47 billion raised last year. Despite a decline in IPOs over the past four years, there is now a growing list of European companies, including Revolut, Zopa, and Bolt, expressing their intentions to go public. Atomico's analysis has identified over 100 potential IPO candidates, with a significant portion having already hired a chief financial officer in preparation for a public listing.