欧洲的国防、安全与韧性——2026年.docxVIP

Defence,SecurityandResilienceinEurope

Thestateofstartupsandventurecapital-2026

February2026

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KeyTakeaways

Overallmarkettrends

●VentureCapital(VC)fundingin

EuropeanDeepTechDefence,SecurityandResilience(DSR)isatanalltimehighreaching$8.7Bin2025.

●Fundingisup55%fromlastyear,

nearly4timeshigherthan5yearsago.

●43%ofallEuropeanDeepTechVC

fundingwentintoDSRin2025.This

represented13%ofallVCfunding,up3xinthelast3years.

●Late-stagemega-fundingisdriving

thisgrowthbytriplingfromlastyearto$4.7BdrivenbymegaroundsinAI

Autonomy,Quantum,Computing,andSpace.

●AIdominatedthesector,underpinning44%ofallDSRfunding.

●Earlyandbreakoutstagesshowmixedsignals,overallasmalldeclinefromlastyear?sall-time-high,butstrongly

dependentonthechallengearea.

Regionaltrends

●TheUKandGermanyleadinDSR

investingwithFinland,Spain,NorwayandBulgariaontherise.

●TheUKattractedthemostVCfundingin2025with$2.9B.Germanyisclosingthegapwith$2.1B.

●Finlandnotablyranked4thbyDSRfundingin2025andleadamongtheNordicswith$636Mraised.

●GermanyandtheNetherlandshavethehighestshareofVCfundinggoingtoDSRin2025atover15%each.

●CentralandEasternEuropeshowedthefastestgrowthindealvelocity,witha2.7xincreasesince2020ledbyBulgaria?sEnduroSatspacetechnology

company.

●Munich,LondonandParisarethetophubsinEuropeforVCfundinginDSRsince2020withHelsinkirisingto4th

hubforVCfundinginDSRin2025.SofiaandOslobothroseinprominence,

makingitintothetopEuropeancitiesforVCinvestmentinfiveyears.

Revenue,exitsandcollaborations

●Datashowsearlysignsthatstartupsareaccessingcapital,generatingrevenueandfosteringpartnershipsasthe

sector?sgrowthcementsEurope?stechnologicalsovereignty

●IncreasingevidenceDSRstartupsarebui