Emerging European Unicorns: The Tech Giants of Tomorrow

January has unfolded as a pivotal month for the European tech scene, with five new companies achieving unicorn status. These startups, originating from various corners of Europe, have successfully secured investments valuing them at over $1 billion. Notably, some of these companies might be incorporated outside Europe, but their operational roots or significant portions of their teams are firmly embedded within the continent.

Before diving into the profiles of these rising stars, let's address two critical points. First, until a unified pan-European corporate structure emerges, many startups will continue to have dual citizenship of sorts, split between local roots and international incorporation. This is evident in companies like Lovable, which, despite its Delaware incorporation, remains a staple of Stockholm's startup ecosystem. Second, while achieving unicorn status is significant, it doesn't guarantee commercial success. Only time will reveal which of these companies can emulate the growth trajectory of Lovable, which recently surpassed $300 million in annual recurring revenue. Nevertheless, the readiness of venture capitalists to invest in these startups at unicorn valuations signals robust interest and potential.

Here's a glance at these prominent players:

Aikido Security
Belgium-based cybersecurity firm Aikido Security has reached unicorn status following a $60 million Series B funding round, led by DST Global and supported by PSG Equity, Singular, Notion Capital, among others. This investment values Aikido at $1 billion, enabling the company to advance its platform, which integrates security throughout the software lifecycle and is trusted by over 100,000 teams globally. In its latest blog post, Aikido celebrates this achievement, highlighting its growth in a market dominated by industry leaders from Palo Alto and Tel Aviv.

Cast AI
Although headquartered in Florida, cloud optimization leader Cast AI boasts Lithuanian origins and a significant presence in Vilnius. This background has contributed to its recognition as Lithuania's fifth unicorn, following a strategic investment from Pacific Alliance Ventures, the venture arm of the Korean conglomerate Shinsegae Group. Cast AI's $1 billion valuation is bolstered by its innovative offerings, such as the OMNI Compute for AI, which aims to optimize AI workload deployments across GPUs.

Harmattan AI
Founded in 2024, French defense tech company Harmattan AI has swiftly ascended to a valuation of $1.4 billion. The $200 million Series B round was led by Dassault Aviation, which also signifies a broader strategic partnership. Harmattan AI's agreements with the French and British ministries of defense, as well as with Ukrainian drone maker Skyeton, underscore the increasing demand for autonomous defense aircraft.

Osapiens
German ESG software company Osapiens has secured a $100 million Series C led by Decarbonization Partners, a joint venture between BlackRock and Temasek. This investment positions Osapiens as a key player in the sustainability and compliance landscape, with its solutions addressing the needs of more than 2,400 customers worldwide.

Preply
The 14-year-old language learning marketplace Preply has achieved unicorn status with a valuation of $1.2 billion, symbolizing Ukrainian resilience. Founded by Ukrainians, Preply plans to leverage its $150 million Series D funding round to expand its AI talent pool across its offices in Barcelona, London, New York, and Kyiv, in line with CEO Kirill Bigai's vision for AI-enhanced learning.