European tech funding saw a major surge this week, with more than 70 deals totaling over EUR 2.8 billion tracked across the continent, led by two massive rounds in AI infrastructure and fusion energy.
Nscale, a European AI cloud infrastructure provider, secured $1.4 billion in what stands as one of the largest AI infrastructure raises globally this year. The funding underscores the enormous capital requirements for building the compute backbone needed to train and run large AI models.
In a landmark for European deep tech, Proxima Fusion landed EUR 411 million in the largest fusion investment on record in Europe. The Munich-based startup is developing advanced stellarator fusion reactors, aiming to commercialize clean, limitless energy.
The data from Invest Europe also indicates a broader venture capital rebound across the region, with deal activity picking up across sectors including AI, climate tech, and enterprise software after a prolonged downturn.
