XLK•European cybersecurity funding reached €459 million across 33 deals in Q3 2026, up from about €215 million. Year-to-date funding was about €975 million across 98 deals.
Axeleo Capital’s Q3 2026 European cybersecurity index showed €459 million in funding across 33 deals, up from about €215 million. Exein’s €252 million round accounted for 55% of quarterly capital, while the five largest rounds made up about 81%.
Pre-seed and seed rounds represented 70% of transactions, while Series B and later accounted for 6.1%. Exit activity rose to nine deals from six, with European buyers involved in six transactions and UK targets accounting for five.
