While deal flow remains even, a $1B+ raise by Roivant Sciences is boosting funding in the European pharma sector to record highs.
The venture capital funnel shows just how brutal the VC game is.
Top investors include LocalGlobe in the UK, High-Tech Grunderfonds in Germany, and SEED Capital in Denmark.
The $68B gorilla continues to expand globally in places like India and Brazil and is still chasing autonomous driving. However, it will have to stem its losses ahead of an eventual IPO, which may lead to rollbacks in contested regions like Southeast Asia.
Since 2013, the UK and Germany have accounted for 38% and 14% of European fintech deals, respectively.
With the directive slated to be signed into law in January 2018, firms can look to get ahead of major actions or risk falling prey to stealth fintechs.