European AI companies raised $27.6 billion in the first nine months of 2026, Tracxn says

European AI companies raised $27.6 billion in the first nine months of 2026, 3.2 times the $8.6 billion raised a year earlier, according to Tracxn figures reported by Electronics Weekly. Late-stage rounds accounted for $16.5 billion, or 60% of the total, and the ten largest rounds raised $19.0 billion.

London-based companies took $14.7 billion, 54% of Europe's AI funding, up from a 39% share a year earlier. Europe produced 15 new AI unicorns in the period, 10 of them in London, against four in the same months of 2025; that is 21% of the 70 new AI unicorns worldwide. The average round rose to $96 million from $24 million, while the number of first-time funded companies fell 33% to 131.

Paris-based Mistral AI raised the largest round, a $3.5 billion Series D in September. London's Nscale raised $3.4 billion in convertible debt in September and a $2.0 billion Series C in March, and Isomorphic Labs raised a $2.1 billion Series B in May. Acquisitions fell 5% to 36; Nvidia's $12.9 billion purchase of Hugging Face was the largest.