For a second month, France led the European continent in deals made, accounting for 18 startups that collectively raised about €128 million ($145 million) in venture capital during May, according to preliminary data from Thomson Reuters.
The deals included Soitec SA, an electronics manufacturer, which raised €76 million ($86 million) from Bpifrance Investissement SASU and Cea Investissement SA.
Another notable French deal in May was Shift Technology, a Paris provider of a software-as-a-service platform that uses artificial intelligence to help insurers detect claims fraud.
Shift said it raised $10 million in a Series A round led by Accel. Elaia Partners and Iris Capital also participated. As part of the round, Sonali de Rycker, a London general partner at Accel, joined the board. The company was founded in 2013.
The largest European deal of the month was Farfetch UK Ltd, which raised €96 million ($109 million) from Eurazeo SA, IDG Capital Partners Inc, Temasek Holdings (Private) Ltd and Vitruvian Partners LLP.
London-based Farfetch provides e-commerce services for high-end fashion boutiques. Its latest funding is one of the largest by a U.K.-based startup or any European tech company this year.
The company, which has raised more than $305 million in six years, now reportedly boasts a private valuation in excess of $1 billion, giving it unicorn status.
The funding helped lift the United Kingdom ahead of all regions in money raised during May, as 16 U.K.-based startups raised more than €233 million ($265 million).
France was second in money raised, followed by Switzerland, where six companies collectively raised €96 million ($109 million).
In all, 75 European startups raised €588 million ($668 million) in funding in the month.
That’s 20 fewer deals, but nearly the same amount of money invested in April when 95 European startups raised €582 million ($662 million).
Downloadable Data: European VC-backed deals from May 2016
Photo of a one euro coin and a map of Europe, Jan. 9, 2013. Reuters/Kai Pfaffenbach
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