European AI startups raised an impressive $8 billion in 2024. This surge in funding shows that artificial intelligence is becoming more important in the region. While the U.S. and China often get the most attention for AI developments, Europe’s AI ecosystem has been growing quietly.
AI companies made up about 20% of all venture capital funding in Europe last year. France will soon host a global summit where world leaders and tech experts will meet. They will talk about investing in AI and making sure it advances safely and in a way that is good for the environment.
A new report looked at trends in the European tech world. It found that 70% of the money raised by AI startups in 2024 went to early-stage companies. This shows that there is a focus on supporting new AI businesses.
The U.K., France, Germany, and the Nordic countries are the top places for AI investment in Europe. As AI startups grow, they get a lot of attention from other countries. U.S. venture capital firms give about 50% of the investments for later-stage AI companies in Europe.
European AI investment trends unravel
France has a thriving AI scene. Clara Chappaz, who is in charge of AI and digital technologies for the French government, said there are over 750 AI startups in France.
They have created 35,000 jobs and involve 2,000 scientists and 600 doctoral students working on AI research. The top 400 AI startups in France are working on things like making data workflows better, improving how AI systems work, and creating tools to help people be more productive. Health and climate technologies are also important areas they are focusing on.
In health tech, companies like Owkin are leading the way in making imaging tools, discovering new drugs, and improving medical treatments. AI is also being used in climate technology, with startups working on agriculture, managing carbon and energy, and developing new materials. Many European AI startups are also targeting specific jobs like sales, customer service, HR, and legal services.
They use advanced AI to make routine tasks easier. While the future is uncertain for some of these new companies, many are growing quickly. As the AI revolution speeds up, it’s clear that the industry is not limited to one part of the world.
Instead of being a competition between countries, AI advancements seem to be happening all over the world, leading to innovation and development in many different regions.
