Funding season is about to restart in Europe after the summer lull, and if all goes well, it will be counting new unicorns in dozens — plural. While mega-rounds are less common than they were in 2021, this hasn’t prevented 12 European startups from raising rounds at valuations of more than $1 billion during the first half of 2025.

As the usual caveat goes, past performance is not indicative of future results, but this bodes well for the rest of the year. Either way, this is also a good indication of the sectors that are hot among investors, from biotech and defense tech to AI, AI, and AI.

Here are the new European unicorns of 2025:

July 2025

Lovable

Fast-growing Swedish AI vibe coding startup Lovable became a unicorn in record time. In July, only eight months after its launch, it rais

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