€1.2B raised by European deep tech scaleups, including Axelera AI
The EIC Scaling Club’s 120 European deep tech scaleups have collectively raised over €1.2 billion.
Published on September 3, 2025
Team IO+ selects and features the most important news stories on innovation and technology, carefully curated by our editors.
The EIC Scaling Club’s 120 European deep tech scaleups have collectively raised over €1.2 billion in funding within the scope of the programme. The milestone was announced by Stéphane Ouaki, Acting Director of the European Innovation Council at the EIC Scaling Club Ambition Forum in Riga.
Funded by the European Innovation Council (EIC), the EIC Scaling Club is made up of 120 of Europe’s most promising deep tech scaleups in 10 sectors, ranging from Agri Tech to Space Tech. The Club’s purpose is to support its members’ growth over the course of the 2-year programme.
The most funded sectors within the EIC Scaling Club are:
- €447.1 million – Next-Gen Computing, with an average round of €37 million
- €220.7 million – Renewable Energies, with an average round of €22 million
- €133.8 million – Smart Mobility, with an average round of €22 million
The largest deals of the period include:
- Multiverse Computing raised €189 million this June, following €67 million in March 2025, for a total of €256 million raised in 2025. The Spanish quantum software company delivers quantum and quantum-inspired solutions to solve complex challenges in finance, energy, manufacturing, and beyond.
- Axelera AI from the Netherlands raised €61.6 million in 2025 and €58.6 million in 2024 to develop its AI-native hardware and software platform to accelerate artificial intelligence.
- Aerones, the world's leading robot-enabled wind turbine maintenance and inspections service provider from Latvia, raised €53.4 million in 2025.
- Endurosat, from Bulgaria, raised €43 million and another undisclosed round in 2025 to make satellite and space missions universally accessible. The company aims to transform the complex satellite industry into a streamlined data service, giving instant access to space data from hundreds of orbiting sensors.
- H2Site, from Spain, raised €36 million to develop its patented palladium-alloy membrane reactors for high-purity hydrogen separation.
While speaking at the Forum, Stéphane Ouaki, Acting Director of EISMEA said: “Europe’s deep tech ecosystem has hit a new milestone: The EIC Scaling Club companies have together raised more than €1.2 billion since joining the action. This demonstrates that Europe’s most promising innovators are gaining investor backing, both from the private and the public sector. This achievement is not only about numbers, but also about Europe gaining its strength to lead in future-shaping technologies, making our continent more competitive, sustainable, and secure.”
