Credit: EIC Scaling Club European deep tech companies in the European Innovation Council\u2019s (EIC) Scaling Club have raised \u20ac4.06bn since joining the programme, according to a new report published by the initiative. The Club, funded by the EIC, supports 120 scale-ups from 26 countries. The report, Europe\u2019s Deep Tech Scale-ups: Building Momentum, compares the members with 240 companies that applied but were not selected. Since joining, Club members have raised an amount equivalent to 128% of their total funding before entering the programme.<\/p>\n
The comparison group raised 56% over the same period. Club members were also more likely to secure new investment. Some 56% closed a funding round after joining, compared with 38% of the companies that were not selected. Among those that raised money, the average round was \u20ac60.6m, against \u20ac39.7m for the comparison group.<\/p>\n
The first cohort joined in April 2024, followed by the second in October that year. The analysis covers data up to 29 September 2026, sourced from startup data platform Dealroom. The programme\u2019s first cohort included companies working across several areas of deep tech. Most of the capital went to three sectors.<\/p>\n
New Space companies raised \u20ac1.34bn, closely followed by Next-Gen Computing with \u20ac1.32bn. Renewable Energies attracted another \u20ac589m. Together, the three categories accounted for roughly 80% of the total. Funding was concentrated among a relatively small number of companies.<\/p>\n
Nine rounds worth more than \u20ac100m each represented 51% of all capital raised. The largest was a \u20ac500m Series C completed by Spain\u2019s Multiverse Computing in July. Other major deals included Spanish launch company PLD Space\u2019s \u20ac288m Series C, raised in two tranches following its \u20ac180m first close in March. Dutch chipmaker Axelera AI also raised more than $250m in February.<\/p>\n
Public investment played a significant role in the funding landscape. Around 80% of the capital came through rounds involving the EIC or another public investor, the report found. Eight of the nine largest rounds included a public co-investor, while the EIC Fund invested directly in four. European investors were not the only ones backing these companies.<\/p>\n
Investors from outside Europe, mostly from the US, held 27% of the seats in the nine largest rounds. Across all funding rounds completed after companies joined the Club, their share was 18%. Spain accounted for the largest share of funding, with \u20ac1.48bn raised by its companies. Germany followed with \u20ac750m and the Netherlands with \u20ac508m.<\/p>\n
Bulgaria attracted \u20ac390m, largely through satellite company EnduroSat. The estimated value of the portfolio also increased during the programme. Dealroom puts its combined value at \u20ac14.3bn two years after joining, up from \u20ac9.2bn. Average company valuations rose from \u20ac77m to \u20ac120m.<\/p>\n
The report cautions that a small number of breakout companies account for a substantial share of the results. It also points to differences between the two groups: the comparison portfolio has a stronger concentration of digital businesses, while half of the Scaling Club\u2019s members work in climate technology. \u201cHelping deep tech startups grow and bring their innovations to market is so important, both for society and for Europe\u2019s competitiveness,\u201d Michiel Scheffer, president of the EIC Board, said in a statement. Get the TNW newsletter \u2715 Close Get the TNW newsletter Get the most important tech news in your inbox each week.<\/p>\n","protected":false},"excerpt":{"rendered":"
Credit: EIC Scaling Club European deep tech companies in the European Innovation Council\u2019s (EIC) Scaling Club have raised \u20ac4.06bn since joining the programme, according to a new report published by the initiative. The Club, funded\u2026<\/p>\n","protected":false},"author":1,"featured_media":33763,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-33762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"_links":{"self":[{"href":"https:\/\/demo.tcjhomeaccents.com\/wp\/wp-json\/wp\/v2\/posts\/33762","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/demo.tcjhomeaccents.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demo.tcjhomeaccents.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/demo.tcjhomeaccents.com\/wp\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/demo.tcjhomeaccents.com\/wp\/wp-json\/wp\/v2\/comments?post=33762"}],"version-history":[{"count":0,"href":"https:\/\/demo.tcjhomeaccents.com\/wp\/wp-json\/wp\/v2\/posts\/33762\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/demo.tcjhomeaccents.com\/wp\/wp-json\/wp\/v2\/media\/33763"}],"wp:attachment":[{"href":"https:\/\/demo.tcjhomeaccents.com\/wp\/wp-json\/wp\/v2\/media?parent=33762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demo.tcjhomeaccents.com\/wp\/wp-json\/wp\/v2\/categories?post=33762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demo.tcjhomeaccents.com\/wp\/wp-json\/wp\/v2\/tags?post=33762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}