After a summer lull, the fundraising season is about to resume in Europe. If everything goes well, count the new unicorns in dozens of plural forms. Mega-rounds are less common than in 2021, but this does not prevent 12 European startups from filing the rounds in the first half of 2025, at a valuation of over $1.2 billion.
As normal warnings progress, past performances do not show future outcomes, but this works well for the rest of the year. In any case, this is also a good indication of a hot sector among investors, from biotechnology and defense technology to AI, AI and AI.
This is the new European unicorn for 2025:
July 2025
Adorable
The fast-growing Swedish AI vibe coding startup Lovable has become a unicorn in record time. In July, just eight months after its launch, it raised a $200 million Series A, led by Accel, at a $1.8 billion valuation. One note: Lovable Labs Inc. is registered in Delaware, but most of the startup team members and open roles are based in Stockholm.
Fusing energy
Fuse Energy, a British renewable energy company founded in 2022 by two former Revolut executives, reported in July, during a time reported by the Times.
June 2025
Mbi
Filmstreaming Service Mbi raised a $100 million round in June, led by Sequoia Capital, valued the company at $1 billion and turned it into a unicorn. Founded as a curated platform in 2007, this indie Netflix rival produces and distributes films.
The
French startup Zama raised a $57 million Series B, bringing its valuation to the billion dollar north. The company is developing homogeneous encryption, a technique that uses encryption algorithms to keep your data secure.
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ISAR Aerospace
German space startup ISAR Aerospace became a unicorn in June after reaching an agreement with Eldridge Industries on a convertible bond worth 150 million euros (approximately $173 million). The launch company has been kicked out of the Institute of Technology Munich (TUM), which currently claims 22 unicorns.
May 2025
Tekever
Tekever, a dual-used drone startup from Portugal, has raised a funding round that it said it confirmed its valuation of over £1 billion in May.
It is backed by Ventura Capital, NATO Innovation Fund (NIF), Iberis Capital, Crescent Cove and Bailey Gifford, and will fund the company’s plan to invest £400 million in its five-year UK development plan.
Quantum Systems
According to Pitchbook, the German dual-dual startup quantum system raised a 160 million euro Series C (approximately $172 million) in May 2025, making it a unicorn by accelerating global expansion, scale production and promoting autonomous drone systems, software and AI.
The round was led by Barderton Capital with participation from existing investors including Hensold, Airbus Defense and Space, Bullhound Capital, LP&E AG and HV Capital, Project A, Peter Tiel, DTCP, Omnes Capital, Airbus Ventures, Porsche SE and concepts.
Parlo
Parloa, a German startup that provides a conversational AI platform for customer service, secured a $120 million Series C funding in May 2025 at a $1 billion valuation. This was less than a year after the $66 million Series B and the $21 million Series A.
March 2025
Isomorphic Lab
Isomorphic Labs, a London-based AI drug discovery platform spun from Google’s Deepmind in 2021, raised external capital for the first time in March 2025, winning a $600 million round with participation from GV and Alphabet. The rating has not been revealed, but the round size firmly places the British spinoff within the unicorn territory.
February 2025
Tyne
Dublin-based startup focusing on AI-powered workflows, Tines became a unicorn after raising a $125 million Series C from new and existing investors in February 2025 at a $1.125 billion valuation.
Irish startups began with security workflow automation, but have been adopted by other parts of Tech Stack using infrastructure, engineering and product applications. When procuring Series C, the company said it is currently carrying out over a billion automated actions on behalf of its customers.
January 2025
Verdiva Bio
Less than a year after its launch, London-based Biotech Verdiva Bio has raised a massive $410 million Series A in January 2025, first announced funding. This has prompted the company to instantly bring unicorns. The pipeline contains oral-based GLP-1 drugs similar to Ozempic and Wegovy.
Cat Health
NEKO Health, a preventive health startup co-founded by Spotify’s Daniel EK, raised a $260 million Series B in January 2025 at a $1.8 billion valuation.
The Swedish company offers full-body scans with the goal of helping people stay healthy through early detection. According to CEO and co-founder Hjalmar Nilsonne, the funds will accelerate NEKO’s global expansion beyond Stockholm and London, and accelerate investments in R&D, including in the US.
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