Total technology industry artificial intelligence venture financing deals worth $450.3m were announced in Europe in October 2022, led by $103.15m venture financing of Connex One, according to GlobalData’s deals database.

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The value marked a decrease of 9.8% over the previous month of $499.35m and a drop of 20.3% when compared with the last 12-month average of $565.11m.

Europe held a 20.47% share of the global technology industry artificial intelligence venture financing deal value that totalled $2.2bn in October 2022. With a 9.92% share and deals worth $218.14m, the UK was the top country in Europe’s artificial intelligence venture financing deal value across technology industry.

In terms of artificial intelligence venture financing deal activity, Europe recorded 42 deals during October 2022, marking a decrease of 26.32% over the previous month and a drop of 19.23% over the 12-month average. The UK recorded nine deals during the month.

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

The top five technology industry artificial intelligence venture financing deals accounted for 68.9% of the overall value during October 2022.

The combined value of the top five technology artificial intelligence venture financing deals stood at $310.15m, against the overall value of $450.3m recorded for the month.

The top five technology industry artificial intelligence venture financing deals of October 2022 tracked by GlobalData were:

1) GP Bullhound’s $103.15m venture financing deal with Connex One

2) The $101m venture financing of Stability AI by Coatue, Lightspeed Management Company and O’Shaughnessy Asset Management

3) Accel, Addition Ventures, Blossom Capital, Felicis Capital and Lux Capital’s $55m venture financing deal with Tines Security Services

4) The $27m venture financing of Axelera AI by imec.xpand, Innovation Industries and The Federal Holding and Investment

5) Framework Ventures’s $24m venture financing deal with Immuniefi