Dealroom – AI Europe Report, 2024

AI funding in Europe has grown significantly in the past decade, with a record 18% share of VC funding in 2024. Despite lagging behind the US in AI leadership, Europe has a high concentration of AI engineering talent. The UK, France, and Germany are dominating AI investing in Europe, with London, Oxford, Paris, Munich, and Berlin leading the way. Generative AI funding in Europe has surpassed previous years in less than six months in 2024, with a focus on model makers and applications with proprietary models. AI is increasingly being adopted in gaming and data privacy technologies are becoming more important. Startups and companies in Europe are incorporating AI into their processes and products, with some focusing on an AI-first approach where the core product is built around AI. There are also AI-enablers and tools companies developing new AI technologies or providing tools for training and deploying AI models.