The report detailing the evolution of unicorns in Europe highlights a total of 606 companies valued at $1 billion or more and underscores the increasing influence of the startup ecosystem, particularly in the CEE region.

Target Company Information

The report emphasizes the evolving landscape of unicorns in Europe, highlighting a notable surge in their numbers over the past few years. As of the first quarter of 2025, there are 606 recognized unicorns in Europe, with six newcomers reaching billion-dollar valuations through successful funding rounds or strategic exits. This shift not only showcases the increasing maturity of the European venture capital environment but also signals a strong potential for unicorn emergence in various sectors.

This comprehensive study focuses on the EU-27 nations, alongside the UK, Norway, Ukraine, and Switzerland. The unique presence of unicorns across these territories showcases Europe's diverse entrepreneurial spirit and the overall transformation in its startup ecosystem. Particularly, a special section dedicated to the Central and Eastern Europe (CEE) region emphasizes the evolving dynamics and growth opportunities present in these markets.

Industry Overview in Europe

Europe's unicorn ecosystem is increasingly diverse, reflecting global trends across various sectors. The leading industries home to unicorns include enterprise software, fintech, and healt