The European Innovation Council (EIC) followed closely, ranking third with 21 investments focused mainly on deeptech, backed by a substantial €4 billion budget for funding in 2025.

Italy's CDP Venture Capital also made its mark with 23 investments centered on climate tech, averaging €6 million per deal.

In Spain, CDTI Innovación invested in 13 startups, emphasizing deeptech and climate tech, with an average investment size of €4 million.

The British Business Bank and EIT each made five investments targeting cleantech and climate tech, supporting innovative startups like Bower Collective and ScrapBees.

Invest-NL in the Netherlands concentrated on climate tech, completing five investments with an average size of €17 million, supporting startups such as Xycle and Thorizon.

Meanwhile, the European Commission backed five startups with a focus on B2B SaaS, while the European Space Agency also made five investments in deeptech, including companies dedicated to sensitive detectors and space debris removal.

The Net Zero Technology Centre in the UK invested in seven startups in the first quarter, promoting clean energy initiatives, although the average deal size for these investments remains undisclosed.

Bpifrance, the French sovereign fund, emerged as the most active public fund during this period, completing 29 investments primarily in healthtech, with an average deal size of €18 million.

Public funds across Europe are playing a crucial role in the tech sector, with 30 funds making multiple investments in the first quarter of 2025, funding a total of 172 startups through various financial mechanisms.

Overall, the trend indicates a strong commitment from public funds to support innovative technologies, particularly in healthtech, climate tech, and deeptech sectors.