Europe’s Unicorn Count Grows with 12 Startups Reaching $1 Billion Valuations in H1 2025

Europe’s tech landscape is gearing up for a bustling funding season following the summer break, with predictions suggesting that several new unicorns will emerge across various sectors. Although mega-rounds have become less frequent compared to 2021, numerous European startups have successfully secured funding rounds valuing their companies at over $1 billion during the first half of 2025.

While past success does not guarantee future outcomes, this trend indicates a promising outlook for the remainder of the year. The sectors attracting investor interest span from biotech and defense tech to artificial intelligence (AI).

The following European startups have recently joined the billion-dollar club:

Lovable Labs Inc., a rapidly growing Swedish AI coding startup, achieved unicorn status in record time after raising a $200 million Series A round led by Accel at a valuation of $1.8 billion in July. Although registered in Delaware, most of the company’s team members and open roles are based in Stockholm.

Fuse Energy, a British renewable energy company founded in 2022 by two former Revolut executives, is reported to have raised a funding round that valued the company at over $1 billion, as announced by The Times in July.

Mubi, a film-streaming service based in the UK, secured a $100 million round led by Sequoia Capital in June, valuing the company at $1 billion and marking its transition into unicorn territory. Founded in 2007 as a curated platform, Mubi now produces and distributes movies in addition to streaming them.

Zama, a French startup developing homomorphic encryption, raised a $57 million Series B round that increased its valuation beyond $1 billion. The company’s cryptographic algorithms help keep data secure.

Isar Aerospace, a German space startup spun off from the Technical University of Munich (TUM), became a unicorn in June after agreeing to a €150 million convertible bond with Eldridge Industries. This deal accelerates Isar Aerospace’s global expansion and marks TUM’s 22nd unicorn company.

Tekever, a dual-use drone startup from Portugal, confirmed its more than £1 billion valuation in May through a funding round that had not been previously announced. The company is backed by Ventura Capital, Baillie Gifford, the NATO Innovation Fund (NIF), Iberis Capital, and Crescent Cove. Tekever plans to invest £400 million into a UK development plan over five years.

Quantum Systems, another German dual-use startup, became a unicorn in May 2025 upon raising a €160M Series C round. This funding will help the company expand globally, scale production, and advance its autonomous drone systems, software, and AI. The round was led by Balderton Capital and included Hensoldt, Airbus Defense and Space, Bullhound Capital, LP&E AG, and existing investors like HV Capital, Project A, Peter Thiel, DTCP, Omnes Capital, Airbus Ventures, Porsche SE, and Notion.

Parloa, a conversational AI platform for customer service based in Germany, secured $120 million in Series C funding at a valuation of $1 billion in May 2025, just under a year after its $66 million Series B and two years after its $21 million Series A. The Series C was led by Durable Capital Partners, Altimeter Capital, and General Catalyst.

Isomorphic Labs, an AI drug-discovery platform based in London that spun out of Google’s DeepMind in 2021, raised external capital for the first time in March 2025 with a $600 million round led by Thrive Capital, with participation from GV and Alphabet. Although the valuation was not disclosed, the size of the round places Isomorphic Labs within unicorn territory.

Dublin-based Tines, an AI-powered workflow startup, became a unicorn in February 2025 after raising a $125 million Series C from new and existing investors at a valuation of $1.125 billion. The Irish startup initially focused on security workflow automation but has since seen adoption across various parts of the tech stack, with applications in infrastructure, engineering, and product. Upon raising its Series C, Tines announced it was now performing over a billion automated actions for its customers every week.

Less than a year after its launch, London-based biotech Verdiva Bio raised a massive $410 million Series A round in January 2025 as its first publicly disclosed funding round. This immediate unicorn status was awarded to the company, whose pipeline includes an oral-based GLP-1 drug similar to Ozempic and Wegovy.

Neko Health, a preventative health startup co-founded by Spotify’s Daniel Ek, raised a $260 million Series B round at a valuation of $1.8 billion in January 2025. The funding was led by Lightspeed Venture Partners and included General Catalyst, O.G. Venture Partners, Rosello, Lakestar, and Atomico. Neko Health offers full-body scans with the goal of promoting early detection and overall health maintenance. According to its CEO and co-founder Hjalmar Nilsonne, the funding will accelerate Neko’s global expansion beyond Stockholm and London to include the U.S., as well as investments in R&D.