Europe is home to prominent startup and innovation hubs like Berlin, Stockholm, and London. However, the tech boom is diffusing across continental Europe and startups are emerging outside of the established hotbeds for technology and innovation.
Ireland (Future Finance), Spain (Cabify), and Denmark (Trustpilot), to name a few — all have at least one tech startup that has raised $100M+ to date. One of the least well-known but certainly notable startups in Europe is the Czech Republic’s cybersecurity player AVAST Software, which has raised $100M and is valued at $1B. Also, a payments company Adyen in the Netherlands has raised $266M and has a valuation of $2.3B.
Using CB Insights data, we analyzed the most well-funded tech startups by country based on disclosed equity funding. We excluded debt funding and only considered VC-backed companies that have raised at least $1M of equity funding to date. Companies that haven’t raised since 2014 were not considered.
With these criteria for selection, sixteen countries are excluded from the mapping — including Vatican City, Liechtenstein, and others. The least well-funded startup in our infographic is in Slovakia: the online ID & password management company SaferPass, with $1M in equity funding. The most well-funded startup pictured below is Spotify in Sweden, with $2.3B of equity funding to date.
Tech unicorns, private tech companies valued at $1B+ or more, are represented among the 34 startups below. Seven of the companies in our infographic are unicorns including (in order of equity funding raised): Spotify, Delivery Hero, BlaBlaCar, FarFetch, Adyen, and AVAST Software.
See the infographic below. The full list of startups is included at the end of this post.
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