Startups across Europe are on track to raise $85 billion in funding this year — a drop of $15 billion on 2021 levels when funding passed $100 billion, according to a report on the state of European tech. The figures come from London VC firm Atomico’s annual State of European Tech report, which has become a bellwether for the tech industry in the region, and they underscore the pressure bearing down on it as the region grapples with an ongoing war in Ukraine, a sagging economy, and a population wobbling to get back on its feet and productive again after two years of the Covid-19 pandemic. Altogether, the European tech industry has lost about $400 billion i …
