**5 New European Startups Join the Unicorn Club: A Look at the Latest Investments**
January has been a whirlwind month for Europe’s tech scene, with no less than 5 startups joining the exclusive unicorn club. From cybersecurity to language learning, these companies have made a significant impact, with valuations soaring above the $1 billion mark. But before we dive into the details, let’s address two crucial caveats.
**Caveats Upfront**
Firstly, our count includes startups that may have roots or a significant presence in Europe, even if they’re integrated elsewhere. This is because, until a pan-European company structure exists (a notion often referred to as “EU Inc”), this split will remain common. Take Lovable, for instance, which is incorporated in Delaware but has strong ties to Stockholm’s startup scene.
Secondly, valuation doesn’t necessarily equal commercial success. While these companies have secured funding at unicorn valuations, it’s too early to tell if they’ll achieve the level of traction that Lovable has, with its latest $300 million in annual recurring revenue.
**Meet the New Unicorns**
We’re kicking off our list with Aikido, the Belgian cybersecurity startup that’s reached unicorn status with its $60 million Series B funding round, valuing the company at $1 billion. Led by DST Global, with participation from PSG Equity, Singular, Notion Capital, and others, the funding will help Aikido improve its platform and expand its customer base.
Next up is Forged AI, the Lithuanian company that’s become the country’s fifth unicorn. Valued at over $1 billion, the company has secured a strategic investment from Pacific Alliance Ventures (PAV), the U.S.-based company venture arm of Korean conglomerate Shinsegae Group.
We’re also taking a look at Harmattan AI, the French defense tech firm that’s reached unicorn status with a valuation of $1.4 billion. Founded just two years ago, the company has already secured a $200 million Series B led by Dassault Aviation, with a broader partnership in the works.
Now, let’s talk about Osapiens, the German ESG software company that’s raised a $100 million Series C led by Decarbonization Partners, a partnership between BlackRock and Temasek, valuing the company at over $1.1 billion.
Last but not least, we have Prely, the Ukrainian language learning platform that’s reached unicorn status with a valuation of $1.2 billion. Founded in the US but with a strong presence in Ukraine, the company has a team of 150 employees and plans to use the funding to hire more AI talent across its four offices.
**What’s Next for These Startups?**
These companies have reached unicorn status, but it’s essential to remember that valuation alone doesn’t guarantee commercial success. We’ll be keeping a close eye on these companies as they continue to develop and grow. Who knows, maybe one day they’ll join the ranks of the notable European unicorns like, say, Spotify or Skype?
