Funding season is about to restart in Europe after the summer lull. If all goes well, the region will be counting new unicorns in dozens. While mega-rounds are less common than they were in 2021, this did not prevent twelve European startups from raising rounds at valuations of more than one billion dollars during the first half of 2025.
Past performance is not indicative of future results, but this activity bodes well for the rest of the year. It is also a good indication of the sectors that are hot among investors, from biotech and defense tech to artificial intelligence.
Here are the new European unicorns of 2025.
In July, the fast-growing Swedish AI coding startup Lovable became a unicorn in record time. Only eight months after its launch, it raised a two hundred million dollar Series A led by Accel at a one point eight billion dollar valuation. It is registered in Delaware, but most of the startup’s team members and open roles are based in Stockholm.
Also in July, British renewable energy company Fuse Energy raised a funding round thought to have valued the company at more than one billion dollars. The company was founded in 2022 by two former Revolut executives.
In June, film-streaming service Mubi raised a one hundred million dollar round led by Sequoia Capital, valuing the company at one billion dollars. Founded in 2007 as a curated platform, this indie Netflix rival now also produces and distributes movies.
French startup Zama raised a fifty-seven million dollar Series B that brought its valuation to over one billion dollars. The company develops homomorphic encryption, a technique that uses cryptographic algorithms to keep data secure.
German space startup Isar Aerospace became a unicorn in June after reaching an agreement for a convertible bond of one hundred and fifty million euros. The launch company spun off from the Technical University of Munich.
In May, Tekever, a dual-use drone startup from Portugal, raised a funding round that confirmed its more than one billion pound valuation. It is backed by several investment firms and is set to fund a four hundred million pound UK development plan.
Also in May, German dual-use startup Quantum Systems became a unicorn upon raising a one hundred and sixty million euro Series C to accelerate its global expansion and advance its autonomous drone systems. The round was led by Balderton Capital.
Parloa, a German startup offering a conversational AI platform for customer service, secured one hundred and twenty million dollars in Series C funding at a one billion dollar valuation in May 2025.
In March, Isomorphic Labs, a London-based AI drug-discovery platform that spun out of Google’s DeepMind, raised external capital for the first time with a six hundred million dollar round led by Thrive Capital. The valuation was not disclosed, but the round size places the company firmly within unicorn territory.
In February, Dublin-based Tines, a startup focused on AI-powered workflows, became a unicorn after raising a one hundred and twenty-five million dollar Series C at a valuation of one point one two five billion dollars. The company started in security workflow automation but has seen adoption across other parts of the tech stack.
In January, London-based biotech Verdiva Bio raised a four hundred and ten million dollar Series A as its first announced round of funding, instantly making it a unicorn. The company’s pipeline includes an oral-based GLP-1 drug similar to Ozempic and Wegovy.
Also in January, Neko Health, the preventative health startup co-founded by Spotify’s Daniel Ek, raised a two hundred and sixty million dollar Series B at a one point eight billion dollar valuation. The Swedish company offers full-body scans with the goal of helping people stay healthy through early detection. The funding will accelerate global expansion and research and development.