European Healthtech Funding Sees Rise in 2024: Key Trends and Major Investors

European Healthtech Funding Sees Rise in 2024: Key Trends and Major Investors

November 26, 2024 Catherine Williams - Chief Editor World

European healthtech funding is experiencing a boost in 2024. Startups have raised $10.4 billion this year, up from $9.7 billion in 2023. This figure is likely to increase as the year progresses and more funding rounds are reported.

Key raises this year include:

  • EraCal Therapeutics: €235 million
  • ITM Radiopharma: €188 million
  • Flo Health: $200 million Series C
  • Alan: €173 million Series F

Several investors dominate the early-stage healthtech funding landscape in Europe for 2024.

Calm/Storm

  • Deals: 33 (10 new, 23 follow-on)
  • HQ: Vienna
  • Focus: Digital health in Europe and the US, investing from €250k to €1m.
  • Notable deals: Béa Fertility, Meela, Univa.

Sofinnova Partners

  • Deals: 32 (13 new, 19 follow-on)
  • HQ: Paris
  • Focus: Life sciences, healthcare, and sustainability, investing from seed to Series A.
  • Notable deals: Asceneuron, Freya Biosciences, Inventiva.

Elaia Partners

  • Deals: 29 (10 new, 19 follow-on)
  • HQ: Paris
  • Focus: Startups from inception to IPO across various sectors. Recent fund raised €200 million in March 2023.
  • Notable deals: Doccla, Surgar, Pixacare.

Zürcher Kantonalbank

  • Deals: 22 (6 new, 16 follow-on)
  • HQ: Zurich, Switzerland
  • Focus: Pre-seed to Series A funding.
  • Notable deals: Lymphatica Medtech, Hemotune, Qumea.

Scottish Enterprise

  • Deals: 23
  • HQ: Glasgow, Scotland
  • Focus: Life sciences startups, co-investing with private lead investors.
  • Notable deals: Nebu-Flow, Aurum Biosciences, Novosound.

Mercia Ventures

  • Deals: 19 (8 new, 11 follow-on)
  • HQ: Henley, UK
  • Focus: AI in drug discovery, precision medicine, and surgical tech.
  • Notable deals: Scalpel AI, Semble, Alesi Surgical.

YZR

  • Deals: 18 (10 new, 8 follow-on)
  • HQ: Munich, Germany
  • Focus: Digital health and medtech with a fund size of €60 million.
  • Notable deals: Eser Bionics, ApoQlar, Deemea.

SFC Capital

  • Deals: 18 (13 new, 5 follow-on)
  • HQ: London
  • Focus: SEIS and EIS eligible startups, primarily in B2B SaaS, climate tech, and medtech.
  • Notable deals: 4D Biomaterials, NIQS, Medwise.

Verve Ventures

  • Deals: 16 (3 new, 13 follow-on)
  • HQ: Zurich, Switzerland
  • Focus: Deeptech, climate tech, and health.
  • Notable deals: Limula, Sympatient, Earlysight.

Speedinvest

  • Deals: 13 (6 new, 7 follow-on)
  • HQ: Vienna
  • Focus: Generalist early-stage investing across sectors.
  • Notable deals: Flinn, Sona, RoClub.