Previous Reports

This is our eighth State of European Tech report. You can read all the previous reports here to see how far we've come.

2021
  • Finland’s Flywheel, Europe’s first female unicorn founder & Europe’s Most Valuable Private Tech Company
  • Crossing $100B in capital invested in a single year, for the first time
  • One Ground Breaking Year for European Tech
  • Testimonies from 50+ of Europe’s tech leaders and policymakers
2020
  • The Covid-19 pandemic and resulting economic shock threatening to derail a decade of progress on European tech
  • Hopin rides the Covid tailwind to hit a $2.1B valuation in just 17 months from founding
  • Ecosystem value approaching $1T for the first time, up 5.6x compared to 2016
  • Black Lives Matter movement casting a spotlight on racial inequity in the European tech ecosystem: our survey finds minority founders face heightened barriers.
2019
  • $34.3B of capital invested in 2019
  • $4.4B invested in purpose-driven European tech companies in 2019
  • European unicorns now totalling 99
  • No material improvement in the share of capital invested in European tech companies going to diverse founding teams.
2018
  • $23B of capital invested across Europe
  • 4x $5B+ tech IPOs, compared to just one in the US
  • European tech investment still growing at a record pace, producing $B+ companies at 15x+ the level a decade before
  • Driving crucial economic growth in a stagnating economy
  • Highlighting disparities: not everyone is benefitting from the boom, as gains are not being democratised by investors
  • Urgent need to address diversity and inclusion, and unlock talent pools
  • Highlights of the top 20 countries in European tech
2017
  • Despite the impact of macro events like Brexit, European tech maintains its sense of optimism
  • A record year for European tech investment - $19.1B invested across 3449 deals
  • Seven companies surpass a billion-dollar valuation for the first time in 2017
  • Highlights the sectors Europe is set to capture: AI and crypto
  • Busts common misperceptions and myths around European tech
2016
  • $14.4B of capital invested into the European tech ecosystem
  • Deep tech is thriving and diversifying in Europe, attracting $1B in investment, 4x the amount in 2011
  • New tech hubs are emerging, with cities like Munich and Lisbon beginning to grow their own tech scenes
  • Traditional industries are awakening to tech, with Europe’s largest companies acquiring and investing in tech
2015
  • $10B invested in European tech by VCs for the first time
  • 10 new unicorns bringing the total to 35 in Europe
  • European startup mafias becoming active participants in local ecosystems
  • Strong talent pool with a total 1.6M active developers across Europe

The State of European Tech survey 2023 is live!

Have your say on the past year in tech and spotlight the issues you care about in our new and improved community survey

Take the survey