- Macro factors across Europe derailed investment in tech in H2 after a record-breaking start to the year
- Total investment levels reached $85B
- Europe started to capture its advantage in purpose-tech
- But $400B+ of value was erased, with megarounds and IPOs grinding to a halt
- Spotlight on the Ukrainian tech ecosystem, which demonstrated incredible resilience, and even growth, in the face of war
- A groundbreaking year for European Tech, with capital invested in a single year crossing $100B for the first time
- European fintech investment saw the biggest increase, growing from $9.4B in 2020 to $21.7B in the first nine months of 2021
- Europe’s unicorn count soared to 321, up by 44% on the previous year
- Europe became home to 6 private decacorns, up from 2 in 2020
- Testimonies from 50+ of Europe’s tech leaders and policymakers
- The Covid-19 pandemic and resulting economic shock threatened to derail a decade of progress on European tech
- But Europe’s tech ecosystem weathered the storm
- Ecosystem value approached $1T for the first time, up 5.6x compared to 2016, and 2020 set a new record for capital invested
- Hopin hit a $2.1B valuation in just 17 months from founding, setting the record for fastest ever company in Europe to hit a billion-dollar valuation
- The Black Lives Matter movement cast a spotlight on the massive racial inequity in the European tech industry and our survey found that minority founders face heightened barriers
- $34.3B of capital invested in 2019
- Investment in purpose driven European tech companies saw huge spike, with $4.4B invested
- Spotlight on Europe’s billion-dollar success stories, as European unicorns totalled new high of 99
- Need to address diversity and inclusion persisted, as share of capital invested in diverse founding teams failed to show material improvement
- European tech investment continued to grow at a record pace, producing $B+ companies at 15x+ the rate of the previous decade
- $23B of capital invested across Europe and 4x $5B+ tech IPOs, compared to just one in the US
- Europe’s tech industry drove crucial economic growth in a stagnating European economy — yet Europe’s tech boom highlighted disparities, as gains were not democratised by investors
- Urgent need to address diversity and inclusion, and unlock talent pools
- Highlights of the top 20 countries in European tech
- Despite the impact of macro events like Brexit, European tech maintained its sense of optimism
- A record year for European tech investment, with $19.1B invested across 3449 deals
- Seven companies surpassed a billion-dollar valuation for the first time
- Spotlight on the sectors Europe is set to capture: AI and crypto
- Busting common misconceptions and myths around European tech
- $14.4B invested into the European tech ecosystem
- Deep tech thrived and diversified in Europe, attracting $1B in investment, 4x the amount in 2011
- New tech hubs emerged, with cities like Munich and Lisbon beginning to grow their own tech scenes
- Traditional industries awoke to tech, with Europe’s largest companies acquiring and investing in tech
- $10B invested in European tech by VCs for the first time
- 10 new unicorns brought the total to 35 in Europe
- European startup mafias became active participants in local ecosystems
- Strong talent pool with a total 1.6M active developers across Europe