France leads the pack for Generative AI funding in Europe, London has 3X the number of GenAI startups
Which city in Europe has generated the most generative AI startups according to the report by Dealroom and Accel?
According to the report by Dealroom and Accel, London has generated the most generative AI startups in Europe. Of the 221 startups analyzed, nearly one-third (27%) were created in London. Tel Aviv followed in the second place with 13%, Berlin with 12%, and Amsterdam with 5%.
How much total funding have French generative AI startups raised to date, and how does this compare with other European countries?
French generative AI startups have raised a total of $2.29 billion to date, which is the highest amount among European countries. This figure is more than what Israel has raised and significantly higher than other European nations. The UK has seen $1.15 billion in generative AI startup funding, Israel $1.04 billion, and Germany $636 million. The strong educational institutions in France and the presence of large tech companies contribute to this success in funding.
What percentage of the global venture funding do Europe and Israel contribute annually, and how does this compare to their contribution specifically in the AI sector?
Europe and Israel contribute to approximately 45% of the global venture funding annually. However, when it comes to the specific sphere of AI, their combined contribution drops to less than half of that proportion. This suggests that there is potential for growth and development in the AI sector in these regions.