January Sees Five New Unicorns Emerging in Europe
January may have felt like an eternity, but it’s also brought a wave of excitement to the European tech scene with the emergence of five new unicorns. From Belgium to Ukraine, several innovative startups have successfully raised funding, achieving valuations of over $1 billion. Let’s explore these new entries to the exclusive billion-dollar club.
Understanding the Landscape
Before diving into the details of each company, it’s important to note two key points. First, while this unicorn count includes startups with foreign incorporation, many have significant ties to Europe, either through their origins or their teams. For example, Lovable, based in Delaware, is deeply connected to Stockholm’s vibrant startup ecosystem.
Second, achieving unicorn status doesn’t necessarily mean guaranteed commercial success. It’s too early to determine if all these companies will enjoy the same level of traction as Lovable, which recently surpassed $300 million in annual recurring revenue. However, the willingness of venture capitalists to invest in these startups at such high valuations signals a robust appetite for innovation in the current investment climate.
Aikido Security: A Cybersecurity Trailblazer
Leading the pack is Aikido Security, a Belgium-based cybersecurity firm that achieved unicorn status following a $60 million Series B funding round. Valued at $1 billion, this round was spearheaded by DST Global, with participation from PSG Equity, Singular, and Notion Capital.
With this funding, Aikido aims to enhance its platform, designed to unify security across the entire software lifecycle. Already trusted by over 100,000 teams worldwide, the company reported impressive fivefold revenue growth and nearly triple the number of customers in the past year. Celebrating this achievement, the team stated, “In an industry dominated by Palo Alto and Tel Aviv heavyweights, Aikido shows that Europe can build a world-class software security company and win globally.”
Cast AI: Optimizing Cloud Solutions
Next up is Cast AI, a cloud optimization firm with roots in Lithuania and operations based in Florida. With a recent investment from Pacific Alliance Ventures, a branch of the Korean conglomerate Shinsegae Group, Cast AI’s valuation has surpassed $1 billion.
The company’s recent $108 million Series C funding brought it close to unicorn status. Their new initiative, OMNI Compute for AI, aims to help users deploy AI workloads more efficiently, addressing regional capacity constraints that many face in cloud environments.
Harmattan AI: Defending the Future
Founded just in 2024, the French defense technology firm Harmattan AI has already reached a valuation of $1.4 billion. This impressive milestone followed a $200 million Series B funding round led by Dassault Aviation, the manufacturer behind the Rafale fighter jets, and paves the way for broader partnerships.
Prior to this impactful partnership, Harmattan AI secured agreements with the French and British ministries of defense, as well as a collaboration with Ukrainian drone maker Skyeton, capitalizing on the growing interest in autonomous defense solutions.
Osapiens: Pioneering ESG Solutions
Germany’s Osapiens, which specializes in environmental, social, and governance (ESG) software, recently secured $100 million in Series C funding, boosting its valuation to over $1.1 billion. This funding round was led by Decarbonization Partners, a joint venture between BlackRock and Temasek.
Since its inception in 2018, Osapiens has amassed over 2,400 clients, including large multinationals who rely on its tools for sustainability reporting and risk mitigation in supply chains.
Preply: Language Learning Resilience
The final entry is Preply, a 14-year-old language-learning marketplace valued at $1.2 billion. Though founded in the U.S., its Ukrainian roots are significant, making this achievement a testament to the resilience of its founders and team. Preply’s workforce boasts 150 employees in Ukraine, and CEO Kirill Bigai is eager to bolster AI-enhanced learning initiatives.
The company recently raised $150 million in Series D funding, which will enable them to expand AI talent across their offices in Barcelona, London, New York, and Kyiv, further fueling their mission to enhance language learning.
Conclusion: A Bright Future for European Startups
As January comes to a close, these five startups exemplify the innovative spirit pulsating through Europe’s tech landscape. While unicorn status is just one metric of success, the increased investment in these companies illustrates a promising future filled with potential and opportunity across various industries.
