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Continent / region · Europe

European Union

Continent / region · Europe · Pop. 450.4M · #11 region by EV

A public taster of the full European Union ecosystem on Dealroom — request a demo for live deal flow, founder pedigrees, AI-talent maps, and the full cap table for every company below.

$2.3T+34%
Combined startup EV
$37.3B
VC invested (last 12mo)
48.5K
Tracked startups
#48/ 69
Unicorns per 1M people · regions rank
🦄 Unicorns
410
410 live · +34 new in 2025 (incl. 6 new decacorns)
💎 Decacorns
22
$10B+ tier
🐎 Thoroughbreds
560
Top 1% growth · $500M+

Enterprise value · 2015–2025

European Union grew 6.8× since 2015

Combined enterprise value of every tracked startup headquartered in European Union that's still operating today — public and private companies combined, totalled by founding-year cohort.

0 $750B $1.5T $2.3T $3T European Union · $2.3T 2015 2018 2021 2024 2025

Adjacent regions by EV

Top sub-locations

Inside European Union: top 8 sub-locations

Sub-locations inside European Union ranked by combined enterprise value, paired with their 5-year growth multiplier.

By enterprise value
1 France $414B
2 Germany $410B
3 Netherlands $347B
4 Sweden $286B
5 Denmark $141B
6 Belgium $106B
7 Ireland $106B
8 Spain $98.4B
By 5-yr EV growth
1 Belgium 7.2×
2 France 5.6×
3 Sweden 5.5×
4 Spain 5.4×
5 Ireland 4.9×
6 Denmark 4.3×
7 Germany
8 Netherlands 2.7×

Startup funnel

European Union's power-law funnel

From the first cheque written to a $10B+ outcome. Each arrow shows what fraction of companies at one stage graduate to the next, tracked by founding cohort.

Pre-Seed
13.3K
Seed
10.7K
Series A
6,487
Series B
2,517
Series C
1,190
Unicorn
384
Decacorn
25

* C→Unicorn and Unicorn→Decacorn rates are derived from current counts (no founding-cohort data); the four mid-funnel rates use Dealroom's cohort tracking.

Notable companies

Top private companies in European Union

Up to 20 names per tier from Dealroom's tracked dataset. Decacorns are valued $10B+, unicorns $1B+, thoroughbreds have crossed $100M in revenue.

Decacorns $10B+ valuation 25
TechnoprobeFlutter EntertainmentBE Semiconductor IndustriesAdyenEvolutionAscendis PharmaGenmabHelsingCzechoslovak GroupNeoenTrade RepublicSpotifyJazz PharmaceuticalsWiseUnity TechnologiesHorizon TherapeuticsCelonisMistral AIOKXargenx
Unicorns $1B+ valuation 384
TeadsHomeToGoFlaschenpostStegraIFCO SystemsATAI Life SciencesXTBFactorialAblynxLDR MedicalCD Projekt RedNWEinrideScalapayPrexton therapeuticsHugging FaceTechlandShift TechnologyFrontKry+363 more
Thoroughbreds+ $100M+ revenue 506
SpotifyZalandoFlutter EntertainmentMASMOVIL GroupGEACzechoslovak GroupJazz PharmaceuticalsargenxJust Eat Takeaway.com | Takeaway.comBack MarketGenmabInPostKlarnaSinchRedcare PharmacyBioNTechAdyenEmbracerReplyCCC

Academia

European Union's academic flywheel

Companies founded by university alumni or spun out of research, plus the institutions producing the most founders tied to European Union.

University-linked startup formation
12.2K
University spinouts
51.9K
Total alumni-founded companies
37.1K
Of which startups (<$15M raised)
11.5K
Breakouts ($15M-100M)
3,324
Scaleups ($100M+)

Vs. similarly-sized ecosystems

How European Union stacks up

Peers chosen from other continents / multi-country regions, sized closest to European Union by combined EV. The scatter plots growth × current size — outliers in the upper-right are ecosystems compounding fastest.

Combined enterprise value
$8.9T
$4.6T
$3.8T
European Union
$2.3T
$581B
$368B
EV growth (5-yr ×) vs current EV
peer median 5.8× 4.0× 8.2× 12.4× $73.6B $1.8T $44.1T EV growth (5yr ×) Combined enterprise value (log) World North America Asia EMEA European Union

Top overview

Europe — top regions

Top regions globally ranked by combined EV. European Union's row is highlighted.

# Ecosystem Combined EV 5-yr EV growth Unicorns VC invested Tracked startups
1 World $44.1T 5.8× 3,634 $444B 288.9K
2 North America $31.5T 6.8× 2,136 $290B 122.2K
3 Asia $8.9T 4.0× 916 $85.5B 74.2K
4 EMEA $4.6T 4.7× 857 $84.1B 89.8K
5 Europe $3.8T 4.4× 689 $67.9B 75.5K
6 European Union $2.3T 4.4× 410 $37.3B 48.5K
7 Nordics $581B 5.1× 105 $8.2B 8,196
8 South America $502B 11.3× 69 $4.7B 8,638
9 Oceania $368B 10.6× 51 $5.4B 5,662
10 Central Eastern Europe $193B 5.2× 58 $2.3B 7,162
11 MENA $142B 12.4× 33 $5.9B 4,435
12 Africa $73.6B 10.7× 14 $1.7B 4,526

Premium analytics

What we don't show on this page (yet)

Sector breakdowns, founder origins, AI-talent leaderboards and live deal flow are gated to logged-in Dealroom users. Book a demo to access the full European Union dataset — or see a sample on the Dealroom app.

Sector breakdown
Where European Union's unicorns concentrate
Fintech
AI / Enterprise SW
Health Tech
Biotech
Cybersecurity
Consumer
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Capital autonomy
European Union's domestic vs foreign capital mix
% domestic VC by stage
Cross-border lead investors
Sovereign-fund participation
Foreign-LP exposure
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Recent momentum
European Union's VC investment trajectory by stage
2024 vs 2025 by stage
Round-size trends
Stage-conversion deltas
Quarterly velocity
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Founder origins
Where European Union's startup founders come from
By country of origin
Per capita
Top universities
Top alumni-factory companies
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AI talent
Top employers of AI talent in European Union
Core AI roles
Frontier AI roles
YoY hiring growth
Senior + lead engineers
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Deal flow
Live deal flow & funding rounds in European Union
New rounds last 30 days
Stage breakdown
Active investors
Round-size trends
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