As Europe emerges from its summer hiatus, the startup ecosystem is witnessing a resurgence in high-value funding rounds. In the first half of 2025, twelve European startups have achieved unicorn status, each securing valuations exceeding $1 billion. This trend underscores the vibrancy of sectors such as biotechnology, defense technology, and artificial intelligence (AI).
September 2025
IQM
Finland’s IQM, a pioneer in quantum computing, has raised over $300 million in a Series B funding round, elevating its total funding to $600 million. CEO Jan Goetz highlighted the company’s global reach, stating, We are now the company that has sold the most quantum computers globally, in all major continents. IQM’s 54-qubit chips are operational in computing centers, research labs, universities, and enterprises, with plans underway to deploy 150-qubit systems.
Framer
Dutch no-code website builder Framer has achieved a $2 billion valuation following a $100 million Series D funding round led by Meritech and Atomico. The company intends to leverage this investment to enhance its enterprise offerings and integrate AI capabilities. Co-founders Koen Bok and Jorn van Dijk, who previously sold a design studio to Facebook in 2011, continue to emphasize design excellence in their platform.
July 2025
Lovable
Swedish AI startup Lovable has reached a $1.8 billion valuation just eight months post-launch, following a $200 million Series A funding round led by Accel. While Lovable Labs Inc. is registered in Delaware, the majority of its team and job openings are based in Stockholm.
Fuse Energy
UK-based renewable energy firm Fuse Energy, established in 2022 by two former Revolut executives, has secured funding that reportedly values the company at over $1 billion.
June 2025
Mubi
Film-streaming service Mubi has attained unicorn status with a $100 million funding round led by Sequoia Capital, bringing its valuation to $1 billion. Founded in 2007 as a curated platform, Mubi has expanded into film production and distribution.
Zama
French startup Zama, specializing in homomorphic encryption, has raised a $57 million Series B round, pushing its valuation beyond $1 billion. The company’s technology enables secure data processing through advanced cryptographic algorithms.
Isar Aerospace
German space startup Isar Aerospace has become a unicorn after securing a €150 million (approximately $173 million) convertible bond agreement with Eldridge Industries. Spun off from the Technical University of Munich (TUM), Isar Aerospace contributes to TUM’s impressive tally of 22 unicorns.
May 2025
Linear
Software development product management tool Linear has achieved a $1.25 billion valuation following an $82 million Series C funding round. Founded in 2019, Linear has raised over $130 million to date, with investors including Accel and Sequoia Capital.
April 2025
Loft Orbital
Satellite company Loft Orbital has reached a $1 billion valuation after a $170 million Series C funding round. Founded in 2017, the company counts Temasek, Uncork Capital, and Tikehau Capital among its investors.
March 2025
Kikoff
Personal finance platform Kikoff has attained a $1 billion valuation, following an undisclosed funding round. Established in 2019, Kikoff has raised $42.5 million to date, with investors including Female Founders Fund, Lightspeed Venture Partners, and basketball star Steph Curry.
February 2025
Netradyne
Computer vision startup Netradyne has achieved a $1.35 billion valuation after a $90 million Series D funding round. Founded in 2015, Netradyne specializes in AI-driven safety solutions for commercial fleets.
January 2025
Hippocratic AI
Healthcare-focused AI company Hippocratic AI has reached unicorn status, securing significant funding to support its mission of enhancing patient care through artificial intelligence.
Kalshi
Blockchain-based trading platform Kalshi has achieved a $1 billion valuation, reflecting growing investor interest in decentralized finance solutions.
The emergence of these unicorns highlights the resilience and innovation within Europe’s startup ecosystem. The diversity of sectors—from quantum computing and renewable energy to AI and space technology—demonstrates the region’s capacity to foster groundbreaking enterprises. As the year progresses, the European startup landscape is poised for further growth and transformation.
