Building a thriving tech ecosystem: European tech companies that became unicorns in 2024 - Related to companies, 2024, kodesage, became, that

Building a thriving tech ecosystem: European tech companies that became unicorns in 2024

Unicorn companies are crucial drivers of innovation, economic growth, and technological progress in Europe. Often, they introduce groundbreaking technologies, creating new industries or transforming existing ones. Their presence signals a mature and investable tech landscape. By generating significant revenues, these companies contribute to national GDPs, tax bases, and regional economies.

Unicorns emerge from a strong startup ecosystem and, in turn, support it by fostering innovation and enabling global market access. They also drive knowledge spillover, talent circulation, and shared infrastructure, creating a continuous cycle of growth and entrepreneurship.

In 2024, the European tech ecosystem collected €[website] billion over more than [website] deals. Excluding debt funding rounds, 91 companies ([website] percent of all companies) closed deals worth over €100 million (each). They collected around €[website] billion (around 29 percent of the total raised amount).

Europe welcomed 14 new unicorn companies, collectively raising approximately €[website] billion, representing [website] percent of the total capital raised. The UK led with five new unicorns, followed by France with three, the Netherlands with two, and Belgium, Germany, Italy, and Greece, each adding one new unicorn to the ecosystem.

Unicorn companies are essential engines of innovation, investment, and economic growth. However, their success is deeply tied to the broader startup ecosystem. While they benefit from smaller startups as information of talent and technology, they also contribute to creating an environment where new businesses can thrive.

Wayve is an AI-driven autonomous driving corporation focused on developing self-driving technology using machine learning and computer vision.

By leveraging cutting-edge deep learning algorithms, Wayve aims to create a scalable, safe, and flexible approach to autonomous driving. The enterprise emphasizes the use of data-driven systems and cloud-based models to navigate complex urban environments, working to transform transportation with the goal of making roads safer and more efficient.

The organization raised $[website] billion in a Series C funding round, led by SoftBank Group, with participation from Nvidia and Microsoft, at an undisclosed (but $1bn+) valuation.

[website] is a global digital services provider specializing in web hosting, cloud solutions, and online marketing.

The enterprise offers a wide range of services designed to help businesses grow their online presence, including website management, e-commerce tools, and domain registration. With a focus on reliability and customer support, [website] aims to empower entrepreneurs and organizations to succeed in the digital world, backed by a network of trusted technologies and expertise.

In July, the firm secured €550 million investment at €[website] billion valuation.

[website] is an AI-driven platform focused on automating and optimizing business workflows through machine learning.

The corporation offers intelligent solutions that streamline operations, improve decision-making, and enhance productivity across various industries. By leveraging advanced AI models, [website] helps businesses make data-driven decisions, reduce manual work, and scale more efficiently, providing a competitive edge in today’s fast-paced market.

In July, the enterprise achieved unicorn status after raising $400 million at a $2 billion valuation.

Mews is a cloud-based property management system (PMS) designed to simplify and optimize hotel operations.

Offering a suite of tools for booking, payment, guest management, and reporting, Mews helps hospitality businesses enhance efficiency, improve guest experiences, and drive revenue. With a focus on automation and seamless integrations, Mews empowers hotels to modernize their operations and deliver personalized, frictionless service to guests.

In March, the corporation had a growth round of $110 million at a $[website] billion valuation. A few months later, the corporation secured an additional €90 million.

eGym is a leading provider of digital fitness solutions, offering smart equipment and software to enhance workout experiences in gyms and fitness centres.

With a focus on personalized training, performance tracking, and data-driven insights, EGYM helps fitness facilities optimize their operations and deliver tailored workout plans for their members. By combining innovative technology with a user-friendly interface, EGYM aims to make fitness more accessible, efficient, and engaging for both customers and gym operators.

In September, the enterprise achieved unicorn status following a $200 million growth capital raise, bringing its valuation to over $1 billion.

Flo Health is a leading women’s health platform that provides a comprehensive app for tracking menstrual cycles, fertility, and overall reproductive health. The app leverages advanced AI technology to offer personalized insights and predictions, empowering women to take control of their health. With millions of clients worldwide, Flo Health combines medical expertise with user-friendly design to support women in managing their health and well-being across all stages of life.

After raising over $200 million in a Series C funding round, Flo's valuation surpassed $1 billion, making it the first purely digital women’s health app to reach unicorn status.

Bending Spoons is a leading mobile app development business known for creating innovative, high-quality apps that enhance user experiences.

With a focus on data-driven design and cutting-edge technology, Bending Spoons develops products across a variety of categories, including productivity, entertainment, and wellness. The organization is committed to delivering apps that engage millions of customers worldwide, leveraging a unique blend of creativity and technical expertise.

The firm achieved unicorn status after securing €[website] million at €[website] billion post-money valuation.

Pigment is a dynamic financial planning and analysis platform designed to help businesses make data-driven decisions.

With its intuitive, collaborative interface, Pigment empowers teams to model, forecast, and visualize complex business data in real-time. By combining flexibility, ease of use, and powerful analytics, Pigment enables organizations to streamline their financial processes, optimize performance, and drive strategic growth.

Pigment closed a $145 million Series D funding round in April, at a valuation of $1+ billion.

Newcleo is a nuclear technology firm specializing in the development of next-generation small modular lead-cooled fast reactors (LFRs).

These reactors utilize recycled nuclear fuel, addressing key industry challenges such as safety, cost, and waste management.

In 2024, the business closed a maxi round of €135 million. The same year, Newcleo relocated its headquarters from London to Paris to strengthen its European partnerships and access a broader range of European funding opportunities.

DataSnipper is an intelligent auditing and data analysis platform designed to automate and streamline the audit process.

By integrating with existing accounting tools, DataSnipper enhances efficiency and accuracy through advanced aspects like document extraction, data matching, and real-time reporting. The platform helps audit professionals save time, reduce errors, and focus on higher-value tasks, ultimately improving the quality and speed of audits.

In February, the business raised a $100 million Series B, led by Index Ventures, at a valuation of $1 billion achieving unicorn status.

Eleven Labs is an AI-powered platform specializing in voice synthesis and natural language processing.

The organization develops cutting-edge technologies that enable the creation of lifelike, customizable speech for a variety of applications, including voiceovers, customer support, and content creation. By combining advanced machine learning models with a focus on quality and personalization, Eleven Labs aims to revolutionize how businesses and creators interact with audiences through voice.

In January, the firm raised an $80 million Series B round, reaching over $1 billion valuation.

Huma is a digital health corporation focused on transforming healthcare through data-driven, remote patient monitoring solutions.

By combining wearable technology, AI, and real-time data analytics, Huma enables healthcare providers to monitor patients outside of traditional clinical settings, improving outcomes and reducing costs. Their platform empowers both patients and providers with actionable insights, enhancing personalized care and enabling proactive management of chronic conditions.

In July, the corporation raised $80 million in series D funding, bringing its funding to over $300 million and reaching a valuation of $1+ billion.

Blueground is a global platform offering fully furnished, flexible rental apartments for business travellers and remote workers.

The corporation provides stylish, turnkey accommodations in major cities around the world, with flexible lease terms ranging from a few weeks to several months. Blueground's service caters to professionals seeking hassle-free, high-quality living spaces that offer the comfort of home and the convenience of modern amenities, all while ensuring a seamless booking and move-in experience.

The Greek-founded organization secured $45 million in Series D funding in March, reaching a bit over $1 billion valuation.

PennyLane is a financial management platform that simplifies accounting and business operations for small and medium-sized enterprises (SMEs).

By integrating accounting, invoicing, and payroll management, PennyLane provides a user-friendly solution that automates financial tasks and offers real-time insights into business performance. The platform empowers business owners and their accountants to make informed decisions, streamline processes, and save time, ultimately improving financial efficiency and control.

In February, the Paris-based fintech startup raised €40 million in a Series C funding round, surpassing a $1 billion valuation and achieving unicorn status.

When it comes to Nintendo Switch games, we’re in a bit of a holding pattern. Nintendo’s next console is right around the corner and new releases for i......

Table of Contents Table of Contents 10. The Talented Mr. Ripley (1999) 9. A Star Is Born (1954) 8. Ben-Hur (1959) 7. The Fly (1986) 6. The Departed (2......

Table of Contents Table of Contents How can smartwatches assist? Fixing sedentary behavior Sleep, obesity, and nutrition What experts say.

OneThird raises €3.5M Series A to reduce waste with freshness scanner

OneThird, a foodtech built to tackle food waste, has raised a €[website] Series A funding round and tappointed Henrike Langbroek as Chief Executive Officer.

The funding round was led by Dutch-based Invest International with participation from previous investors Pymwymic Home and Oost NL, bringing the total capital raised to €[website] The Series A investment will enable OneThird to develop its AI and sensor technology and expand across Europe and North America.

OneThird’s AI-powered near-infrared technology enables farmers, distributors, and grocery retailers to reduce waste by accurately predicting shelf life and optimising decision-making. OneThird expanded its offerings in 2024 with a retail store fruit scanner that allows consumers to make smarter purchasing decisions at the grocery store, particularly helpful with products such as avocados.

Currently, OneThird’s technology supports a growing list of produce, including avocados, blueberries, strawberries and tomatoes.

Up to one-third of the food brought to market annually is wasted at an estimated cost of USD $1 trillion, and almost half of it is fresh produce.

“I am thrilled to join OneThird at this exciting juncture and work with the team to make a measurable difference in reducing global food waste and creating a more efficient and sustainable food system for the future,” stated Henrike Langbroek, CEO.

“This funding will allow us to amplify our impact and reach new markets, empowering growers, distributors, and retailers to make informed decisions that drive sustainability and profitability.”.

Tim van Galen, Senior Investment Manager at Invest International, added: “OneThird’s approach to reducing food waste aligns with our mission to support the transitions needed towards a more sustainable food system. We are excited to partner with them on their journey to revolutionize the fresh produce industry.”.

When it comes to Nintendo Switch games, we’re in a bit of a holding pattern. Nintendo’s next console is right around the corner and new releases for i......

If there's one tech trend that has truly taken off in 2025, it's materials innovation. Companies are pioneering sustainable alternatives, such as eco-......

Legacy software startup modernisation startup Kodesage has raised €[website] million Pre-Seed funding.

Legacy systems, deeply embedded in enterprise workfl......

Kodesage raises €2.3M Pre-Seed for AI-powered legacy software modernisation

Legacy software startup modernisation startup Kodesage has raised €[website] million Pre-Seed funding.

Legacy systems, deeply embedded in enterprise workflows, present significant risks, including outdated technology, poor documentation, dependence on key employees, and performance issues.

Enhancing them is essential for organisations to remain competitive, as outdated systems can hinder performance, increase security vulnerabilities, and drive-up maintenance costs.

However, maintaining these systems often requires continuous updates, patches, and ad hoc fixes from multiple findings, complicating employee training and escalating risks and costs.

The Hungarian startup’s AI-powered platform streamlines modernisation and accelerates employee onboarding while ensuring compliance and data security for enterprises.

Kodesage acts like a compass for engineers, simplifying code navigation helping to upgrade even the most complex legacy systems without any prior knowledge of the project. Built enterprise-first, the platform supports on-premise and even air-gapped deployments, ensuring compliance and data security.

"Legacy systems are outdated and painful to manage, yet they’re still mission-critical for enterprises. Replacing them outright is often impossible due to high costs and risks. That’s where Kodesage comes in: our technology empowers businesses to enhance and evolve these systems without the massive upheaval of full replacements.”.

Significantly, KodeSage’s platform stands out due to its lower hardware requirements compared to others like OpenAI, enhancing cost efficiency for companies. It is model agnostic, not only utilising LLMs but also allowing clients to choose preferred models.

The VC and private equity arm of OTP Group, PortfoLion Capital Partners, led the funding round. Angel investors, including three former UiPath senior executives and other enterprise software veterans, also participated.

“We’ve seen thousands of teams over the past two decades helping enterprises with their modernisation efforts, before the current generative AI wave.

However, the AI toolkit that has emerged over the past two years has now opened up a new, even more painful part of the legacy stack for modernisation in a venture-scalable way.” introduced Márk Pálfalvi, Principal at PortfoLion.

With paying consumers already on board and multiple pilots underway, Kodesage will use the funding to enhance its platform and scale its go-to-market efforts.

Lead image: Kodesage Founders: Gyorgy-Szilagyi, Gergely-Dombi and Miklos-Szurdi. Photo: uncredited.

Table of Contents Table of Contents 7. 2015 – Whiplash and Boyhood lose to Birdman in Best Picture 6. 2020 – Jennifer Lopez in Hustlers passed over fo......

Every now and again, something momentous happens that changes the world and it’s never the same again. As Lenin once expressed, “There are decades where no......