As European venture funding restarts after the summer lull, investors are already counting a dozen new unicorns minted in the first half of 2025. While mega-rounds are less common than in the 2021 boom, valuations north of $1 billion remain achievable across fast-growing sectors such as biotech, defence tech, and especially AI.
Here are Europe’s new unicorns of 2025 so far:
July 2025
- Lovable: Swedish AI startup Lovable reached a $1.8 billion valuation just eight months after launch, raising $200 million from Accel.
- Fuse Energy: U.K.-based renewable energy firm founded by ex-Revolut executives crossed the $1 billion mark in July.
June 2025
- Mubi: Indie film streaming service secured $100 million from Sequoia Capital, hitting a $1 billion valuation.
- Zama: French homomorphic encryption startup raised a $57 million Series B, surpassing $1 billion in valuation.
- Isar Aerospace: German space tech company became a unicorn via a €150 million ($173M) convertible bond deal with Eldridge Industries.
May 2025
- Tekever: Portuguese dual-use drone maker confirmed its valuation above £1 billion in a new round backed by major investors including Baillie Gifford and NATO’s Innovation Fund.
- Quantum Systems: Another German dual-use drone startup, raised €160 million ($172M) in Series C to expand globally, led by Balderton Capital.
- Parloa: German conversational AI startup for customer service reached $1 billion valuation after a $120 million Series C led by Durable Capital, Altimeter, and General Catalyst.
March 2025
- Isomorphic Labs: U.K.-based AI drug-discovery spinout from Google DeepMind raised $600 million in its first external round, led by Thrive Capital, placing it well into unicorn status.
February 2025
- Tines: Dublin-based workflow automation platform reached $1.125 billion valuation with a $125 million Series C.
January 2025
- Verdiva Bio: London biotech focused on GLP-1 drug development raised $410 million in Series A, instantly reaching unicorn status.
- Neko Health: Preventative health startup co-founded by Spotify’s Daniel Ek raised $260 million in Series B at a $1.8 billion valuation.
Related: Four Central Eurasian Startups Secure Spots at TechCrunch Startup Battlefield 2025
While these unicorns span energy, space, and healthcare, AI remains the strongest magnet for capital: appearing in nearly half of this year’s billion-dollar startups. With funding season heating up again, investors expect more unicorns to emerge before the end of 2025.
