Led by $400m venture financing of Content Square, total technology industry artificial intelligence venture financing deals worth $1.3bn were announced in Europe in Q3 2022, according to GlobalData’s deals database.

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The value marked a decrease of 26.7% over the previous quarter and a drop of 33.3% when compared with the last four-quarter average of $1.89bn.

Europe held a 17.92% share of the global technology industry artificial intelligence venture financing deal value that totalled $7.03bn in Q3 2022. With a 6.47% share and deals worth $455.12m, France was the top country in Europe’s artificial intelligence venture financing deal value across technology industry.

In terms of deal activity, Europe recorded 142 artificial intelligence deals during Q3 2022, marking a decrease of 21.98% over the previous quarter and a drop of 5.80% over the last four-quarter average. The UK recorded 29 deals during the month.

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Europe technology industry artificial intelligence venture financing deals in Q3 2022: Top deals

The top five artificial intelligence venture financing deals accounted for 51.5% of the overall value during Q3 2022.

The combined value of the top five technology artificial intelligence venture financing deals stood at $647.91m, against the overall value of $1.3bn recorded for the quarter.

The top five technology artificial intelligence deals of Q3 2022 tracked by GlobalData were:

1) BlackRock, BPI France, Canaan Partners, Eurazeo, Highland Europe (UK), KKRInc, LionTree, Sixth Street Growth and SoftBank Vision Fund 2’s $400m venture financing deal with Content Square

2) The $135m venture financing of Velas Network by Global Emerging Markets Digital

3) Arosa Capital Management, Energy Impact Partners, Equinor Ventures, Future Energy Ventures, Kongsberg Gruppen and Nysnø Climate Investment’s $40.16m venture financing deal with eSmart Systems

4) The $37m venture financing of Superblocks by Aaron Levie, Akshay Kothari, Andrew Ofstad, Aneel Bhusri, Apoorva Mehta, Avlok Kohli, Frederic Kerrest, Greenoaks Capital Management, Howie Liu, James Tamplin, Javier Molinar, Jeff Lawson, Jeremy Stoppeman, Kleiner Perkins, Max Mullen, Meritech Capital Partners, Neha Narkhede, Sam Blond, Spark Capital, Taylor Brown and Tom Gonser

5) Balderton Capital, Kreos Capital Group and Oxx’s $35.75m venture financing deal with Latana Brand Tracking