Funding season is about to restart in Europe after the summer lull, and if all goes well, it will be counting new unicorns in dozens - plural. While mega-rounds are less common than they were in 2021, this hasn't prevented 12 European startups from raising rounds at valuations of more than $1 billion during the first half of 2025. As the usual caveat goes, past performance is not indicative of future results, but this bodes well for the rest of the year.