European VC Funding Plummeted by 50% in 2023, Revealing Setback for Startup Ecosystem

European tech startups in 2023 raised about 50% of the funding they did in 2021, according to new Crunchbase data. Despite the drop, Europe's startup scene remains strong and is capturing a larger share of global venture capital. Late-stage startups were the hardest hit, but there is optimism for a brighter outlook in 2024 with predicted consolidation and more available capital for early-stage companies.