According to the Tech.eu database, European tech companies raised €6.6 billion throughout January 2025. In comparison to the same period in previous years, January 2025 experienced a notable decline of about 60 per cent compared to 2024, but an increase of roughly 40 per cent compared to 2023. Harry Haeck, Partner at Smartfin, commented on the January numbers within the European tech investment landscape in our January Tech.eu Pulse, a compact version of the monthly report:The new year began with a major shift in AI as China’s DeepSeek released its open-source R1 model, challenging well-funded AI giants. This marks a fundamental shift in AI economics, allowing European startups to develop competitive AI solutions at a fraction of previous costs. By reducing reliance on massive data centres and expensive model training, it lowers barriers to entry and presents a rare opportunity for Europe to regain ground in AI development, provided startups and investors act swiftly

ElevenLabs, founded in 2022 by Mati Staniszewski and Piotr Dabkowski, is an AI audio company based in London. It raised $180 million in a Series C round in 2025, led by a16z and ICONIQ Growth, reaching a valuation of $3.3 billion. The company offers AI-generated voice solutions in 32 languages, with subscription plans ranging from $99/month to customized enterprise solutions. Previous funding rounds include $19 million in 2023 and $80 million in 2024.

ElevenLabs, a voice AI company based in New York and London, raised $250 million in a Series C funding round, valuing the company between $3 billion and $3.3 billion.