EIC Scaling Club Raises €4.06 Billion Since 2024
Club members have more than doubled their funding since joining the European Innovation Council's scale-up program in April 2024.
Updated on Nov. 4, 2026 in Startups
More than half of the 120 European deeptech scale-ups in the EIC Scaling Club have raised new capital since the club launched in April 2024. Members have raised a combined €4.06 billion, a 128% increase over pre-joining funding levels.
Why it matters
The figures suggest that public backing, including EIC Accelerator grants and EIC Fund equity, can attract private investors to deeptech ventures. Roughly 80% of post-joining capital came in rounds that included public backers.
A 40% compound annual growth rate in funding was recorded across the club, while nine mega-rounds of €100 million or more accounted for 51% of post-joining funding. The report does not break down how much of that growth would have occurred without club membership.
The players
European Innovation Council (EIC)
The EIC is the European Union's innovation funding body that supports high-potential deeptech companies through grants, equity investments and programs such as the EIC Accelerator and the EIC Scaling Club.
The details
Public-backed rounds drove most of the new capital, with the EIC Fund co-investing in 22% of companies that raised after joining. New Space, Next-Gen Computing, and Renewable Energies accounted for 80% of total capital raised, and the report identified 210 publicly disclosed partnerships.
Timeline
April 2024: The EIC Scaling Club launched with 120 European deeptech scale-ups.
Market Landscape
The EIC Scaling Club results show public funding acting as a catalyst for private capital in European deeptech, with non-European investors holding 27% of mega-round investor slots compared to 18% across all post-joining rounds. This positions European scale-ups to compete for capital in sectors such as New Space and next-generation computing.
For founders and early-stage investors, the results indicate that public-backed rounds can crowd in private capital and that participation in structured programs may help attract additional investors. Investors considering deeptech opportunities may see the public co-investment signal as a factor in due diligence.
The takeaway
Public co-investment appears to reduce risk for private investors in deeptech, with each EIC Fund-backed round attracting an average of five additional investors. Founders weighing funding options may find that structured public programs can widen their investor base.
Further reading
Explore more startup funding news to see how public programs are shaping early-stage capital.
