AI startup valuations in Europe
Where European AI and machine-learning companies are priced, early and later, against the market as a whole.
- Data as of Q2 2026
- Updated 20 August 2026
- Sources: PitchBook
The numbers
At a glance
- Median pre-money, AI at pre-seed and seed
- €5.2M
- AI & ML companies
- 2025: €6M · down about 13% by H1 2026
- PitchBook, H1 2026
- All companies at pre-seed and seed
- €4.8M
- Median pre-money
- 2025: €5M · down 4.7% by H1 2026
- PitchBook, H1 2026
- Median pre-money, AI at Series A and B
- €55.2M
- AI & ML companies
- 2025: €41.7M · up about 32% by H1 2026
- PitchBook, H1 2026
- All companies at Series A and B
- €47.8M
- Median pre-money
- 2025: €32.8M · up 45.5% by H1 2026
- PitchBook, H1 2026
Our reading
What the numbers say
European AI companies were priced above the market at both stages in the first half of 2026: €5.2M against €4.8M at pre-seed and seed, and €55.2M against €47.8M at Series A and B.
The two stages moved in opposite directions. The AI median at pre-seed and seed was down about 13% on 2025, while at Series A and B it was up about 32% on 2025.
The data
The full tables
| Stage | 25th percentile | Median | 75th percentile | 90th percentile |
|---|---|---|---|---|
| Pre-seed and seed | €2.6M | €5.2M | €10M | €21M |
| Series A and B | €27M | €55.2M | €140M | €320M |
PitchBook's medians; the 25th, 75th and 90th percentiles are estimated from the spread of its own chart.
Sources: PitchBook, Q2 2026 European VC Valuations Report
- PitchBook prints medians, and groups pre-seed with seed and Series A with Series B. We estimate the 25th, 75th and 90th percentiles from the spread of its own chart, scaled to each median.
- The figures for the year before are PitchBook's. Where it prints the change, we show its figure; elsewhere we work it out from the two medians, to the nearest percent.
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