Data Spotlight: France leads Europe in deals done in May

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