European technology is in its strongest run in years. Startups across the continent raised €68.4 billion in the first nine months of 2026 , already more than in all of 2025, with the full year on course to finish about 31% higher. AI companies drew €44.1 billion of that total, nearly two-thirds of all European deal value.

The fastest-rising part of the market is deeptech, the category of companies built on scientific or engineering breakthroughs such as fusion energy, robotics and AI-designed drugs. It drew a record $20.3 billion in 2025 , or 32% of all European venture capital, while VC-backed European deeptech companies are now valued at about $690 billion.…