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By location
Funding availability varies widely depending on location.
Local regulatory environments, market maturity, and investor networks play a key role in shaping how and where funding is distributed, creating disparities in access to capital across regions and therefore slower or faster innovation.
The proportion of all venture capital deployed into female-founded companies
by top five countries in Europe in 2024
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71%
United Kingdom, France, and Germany lead the countries with the highest venture capital investment into female-founded companies
Total venture capital (€M) invested by venture capital firms per country
Europe, 2024
UK
France
Germany
Switzerland
Netherlands
Denmark
Spain
Italy
Belgium
Sweden
Luxembourg
Finland
Austria
Ireland
Norway
Portugal
Estonia
Poland
Czechia
Lithuania
1541
1072
708
331
296
220
231
121
147
342
Data source: Dealroom
female-founded
3
257
85
104
160
35
37
4
9
7
agnostic
14765
7121
7493
2800
2410
1084
1850
1032
1115
2460
143
857
491
985
931
402
257
145
247
86
12%
€5.75B
Finland leads the way, with a third of total venture capital invested in the country going to female-founded companies
The average proportion of venture capital invested in female-founded companies across Europe
Europe 2024
Data source: Dealroom
Countries with above European average portion of venture capital invested in female-founded companies
Europe, 2024
Finland
Denmark
Norway
Austria
France
Estonia
Sweden
Belgium
30%
20%
17%
17%
15%
14%
14%
13%
Data source: Dealroom
'Reflecting on our fundraising journey, we’ve noticed a clear difference: US investors are bullish, seeking massive potential, while European investors tend to be more conservative and risk-averse. However, even generalist funds are now integrating sustainability strategies. As a SaaS business, we aren’t limited to climate tech funds—our investors value capital efficiency across various sectors.'
Helen Tacke
Cozero, Germany
Raised a €6.5m Series A round in April
The majority of ecosystem players are less optimistic about the future of European innovation
Compared to 12 months ago, are you more or less optimistic about the future of European innovation?
Source: Female Innovation Index Survey 2025
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4%
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27%
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32%
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45%
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5%
Significantly more
More
No change
Less
Significantly less
Female founders believe it is harder to attract technical talent in Europe than it was twelve months ago
Compared to 12 months ago, do you believe is it easier or harder to attract technical talent for European founders?
63%
Source: Female Innovation Index Survey 2025
of female founders believe it is harder to attract technical talent
52%
of angel and venture capital investors believe it is harder to attract technical talent
The majority of female founders prioritise alignment of vision when choosing investors, while early-stage founders value existing relationships
What do you believe are the key characteristics of an innovation friendly venture ecosystem?
Access to funding
Access to global markets
Access to top talent
Government support
Access to mentorship
Adaptive regulatory environment
Access to research institutions
High competition
Source: Female Innovation Index Survey 2025
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82%
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43%
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34%
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32%
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22%
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19%
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5%
female founders
investors
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21%
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46%
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65%
Add a Title
31%
Add a Title
28%
Add a Title
21%
Add a Title
4%
'At Metyos, we seek technical skills from diverse disciplines, ranging from chemistry to AI.
With few people possessing both technical expertise and an innovative mindset, hiring has been—and will likely remain—our biggest challenge, regardless of the funding environment.'
Olga Chashchina
Metyos, France
Raised a €2.3m Pre-Seed round in March
Download detailed country-specific sheets with more granular data on investment in female-founded companies
By location
What's included
Total size of fresh capital (€B) raised by venture capital
% of female-founded companies with first time venture capital investment
% of venture capital raised by female-founded companies out of the total deployed in 2024
Number of companies that raised venture capital
Capital invested (€M) into female-founded companies
Total capital (€M) invested by venture capital firms
Number of female-founded companies that raised venture capital
Top sectors of unfunded, not venture capital backed female-founded companies
Top sectors of funded, venture capital backed female-founded companies
Female-founded companies that raised 10 biggest venture capital rounds
Spotlight
Select a country
Data source: Dealroom
Coming up
Meet the team
Meet the team behind the Index, who have brought to you the insights about the shaping the innovation landscape for female entrepreneurs across Europe
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