The possibilities of generative AI are endless, with much more to explore beyond what we have seen so far.
Companies worldwide have been investing in their AI capabilities for years, whether in the U.S., China, or France.
Generative AI is revolutionizing productivity, creativity, and workflows across various industries. Companies utilizing generative AI tools are at the forefront of innovation.
At the inaugural Brainstorm AI conference at the Rosewood Hotel in London, Fortune delved into the global landscape of generative AI, drawing insights from data provided by Dealroom, an intelligence company based in Amsterdam.
Our analysis focuses on the top 100 generative AI companies by funding, revealing that U.S.-based companies, particularly those in the San Francisco Bay Area, dominate the industry. OpenAI, led by Sam Altman, is the highest-funded AI company, followed closely by Anthropic and Inflection AI. In Europe, companies like Mistral AI and Aleph Alpha are gaining recognition for their innovations.
Although companies in France, the U.K., and Germany receive less funding compared to their American counterparts, they are making significant strides in the generative AI field. Israel also has a growing generative AI scene.
Dealroom’s data focuses on companies that have raised over $70 million in total funding, leaving out smaller European companies. Noteworthy players like Google are excluded from this analysis as Dealroom’s data mainly considers funding figures.
Europe has made progress in generative AI, with three of the top 15 companies on the list having female founders. Additionally, seven companies initially founded in Europe have moved to the U.S., securing about $1.7 billion in funding.
Generative AI companies use algorithms to create new and realistic content, such as text, images, and audio, based on training data. Dealroom’s data, as of April 2024, focuses on companies that utilize large language models trained on extensive datasets to generate new content.
The charts below demonstrate Europe’s position compared to other global AI leaders, highlighting the advancements and key players in the generative AI field.
Total funding for the world’s top 100 generative AI startups, by region
American companies have received the majority of funding, with over $36.8 billion raised compared to $3.2 billion raised by European and Israeli companies. OpenAI leads the pack with $12.3 billion in funding.
Key European markets home to the biggest gen AI players by funding
Israel leads Europe as a hub for generative AI companies, with Germany and France emerging as top players on the continent.
Most of the funding for European companies comes from European investors, with 43% originating from their home countries, 13% from other European countries, and 39% from the U.S.
Most funded companies in Europe and Israel
Aleph Alpha, based in Heidelberg, Germany, leads the list with $641.14 million in total funding. Mistral AI from Paris, France, follows closely with $553 million in funding. The full list of generative AI companies in Europe and Israel, ranked by funding, is provided below.
Aleph Alpha
Launch year: 2019 HQ city/country: Heidelberg, Germany Total funding (USD): $641.14 million
Mistral AI
Launch year: 2023 HQ city/country: Paris, France Total funding: $553 million
AI21
Launch year: 2017 HQ city/country: Tel Aviv-Yafo, Israel Total funding: $326.5 million
Lightricks
Launch year: 2013 HQ city/country: Jerusalem, Israel Total funding: $305 million
Cera
Launch year: 2016 HQ city/country: London, United Kingdom Total funding: $302.5 million
Synthesia
Launch year: 2017 HQ city/country: London, United Kingdom Total funding: $155.58 million
Stability AI
Launch year: 2019 HQ city/country: London, United Kingdom Total funding: $151 million
Poolside AI
Launch year: 2023 HQ city/country: Paris, France Total funding: $126.01 million
Pecan
Launch year: 2016 HQ city/country: Tel Aviv-Yafo, Israel Total funding: $112 million
DeepL
Launch year: 2009 HQ city/country: Cologne, Germany Total funding: $110 million
MDClone
Launch year: 2015 HQ city/country: Beersheba, Israel Total funding: $104.01 million
Corti
Launch year: 2016 HQ city/country: Copenhagen, Denmark Total funding: $90.9 million
Stratio
Launch year: 2014 HQ city/country: Pozuelo de Alarcón, Spain Total funding: $85.8 million
Sana Labs
Launch year: 2016 HQ city/country: Stockholm, Sweden Total funding: $82.57 million
Ready Player Me
Launch year: 2014 HQ city/country: Tallinn, Estonia Total funding: $72.55 million
Fortune Europe’s team, including executive editor Alex Wood Morton, list director Grethe Schepers, research analyst Elena Medina, and production editor Aslesha Mehta, contributed to this report.
