"But before we take a closer look at who joined the club, two caveats. First: This count includes startups that may be incorporated elsewhere but have their roots or a large part of their team in Europe. Until EU Inc exists as a pan-European corporate structure, this split will remain common - and we've decided to overlook it. Take Lovable, which is incorporated in Delaware but cannot be dissociated from Stockholm's startup scene."
"Second: valuation doesn't equal commercial success, and it is too early to tell whether all of these companies will follow in Lovable's footsteps, with the company recently crossing $300 million in annual recurring revenue. But in the current climate, the fact that VCs were willing to invest in them at unicorn valuations is a strong signal of where the appetite is."
"Valuing the company at $1 billion, the round was led by DST Global, with participation from PSG Equity, Singular, Notion Capital, and others. According to a press release, the funding will help Aikido enhance its platform, which was built to unify security across the entire software lifecycle and is already used by more than 100,000 teams globally. Per the same source, the Series B "follows a year of rapid growth for the company, including five-times revenue growth and nearly three-times customer growth.""
January produced five new European-rooted tech unicorns, with companies spanning Belgium to Ukraine. The count includes startups incorporated outside Europe but retaining European roots or teams, exemplified by Lovable's Delaware incorporation and Stockholm ties. Valuation does not guarantee commercial success; Lovable recently exceeded $300 million in annual recurring revenue, but future performance for others remains uncertain. Venture capital willingness to invest at unicorn valuations indicates robust investor appetite. Belgium-based Aikido Security hit a $1 billion valuation after a $60 million Series B led by DST Global, reporting platform adoption by over 100,000 teams and rapid revenue and customer growth.
Read at TechCrunch
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