"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."
"Lovable Fast-growing Swedish AI vibe coding startup Lovable became a unicorn in record time. In July, only 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's team members and open roles are based in Stockholm."
"Mubi Film-streaming service Mubi raised a $100 million round led by Sequoia Capital in June, valuing the company at $1 billion and making it a unicorn. Founded in 2007 as a curated platform, this indie Netflix rival now also produces and distributes movies. Zama French startup Zama raised a $57 million Series B that brought its valuation to north of $1 billion. The company develops homomorphic encryption, a technique that uses cryptographic algorithms to keep data secure."
Funding activity in Europe resumed after the summer lull, with investors backing multiple new unicorns across sectors. Twelve European startups reached valuations above $1 billion during the first half of 2025. Notable entrants include Lovable, a Swedish AI coding startup that raised $200 million at a $1.8 billion valuation; Fuse Energy, a British renewable energy company; Mubi, a film-streaming and distribution platform that raised $100 million; Zama, a French homomorphic encryption developer; and Isar Aerospace, a German space launch company securing a €150 million convertible bond. Sectors attracting capital include AI, biotech, defense tech, renewables, and space.
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