European Tech Landscape: Deep Tech Investment including AI Sees 13% Decline
State of European Tech: Investment in ‘Deep Tech’ Declines by 13%
The latest report on the State of European Tech reveals a notable 13% decrease in investments aimed at ‘deep tech’, which includes sectors like AI. According to data from Dealroom, this year saw a drop from $10.2 billion in 2019 to $8.9 billion in 2020.
The pandemic brought considerable economic uncertainty, exacerbated by trade wars, Brexit, and the tumult of the recent U.S. presidential election. Collectively, these factors have led to reduced investments as many tighten their finances. A prime example is OneWeb, an innovative satellite company that had to declare bankruptcy when critical funding vanished during the peak of the pandemic. Fortunately, the company was later rescued through an acquisition by the UK government and Bharti Global; however, this isn’t the case for all businesses.
As Brexit negotiations linger, European businesses are hoping for a favorable deal to mitigate disruption and ensure a smooth flow of ideas and talent, replacing resentment with collaboration. Despite the current climate, the UK continues to dominate European tech investments and startups.
Looking ahead, there’s optimism that overall investment in European tech will rebound in 2021, alongside global economic recovery driven by the rollout of COVID-19 vaccines and stabilization in geopolitical tensions. Notably, 94% of respondents in the report’s survey indicated they have either maintained or increased their investment appetite in European ventures. Additionally, a record number of U.S. institutions have participated in multiple investment rounds in Europe this year, marking a 36% increase since 2016.
For a comprehensive overview, you can access the full State of European Tech report here.
Interested in discussions around these topics? Attend upcoming events such as the 5G Expo, IoT Tech Expo, Blockchain Expo, AI & Big Data Expo, and Cyber Security & Cloud Expo World Series, taking place in Silicon Valley, London, and Amsterdam.
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