HomeAnalysisGP Bullhound Releases Annual Report On The European Tech Ecosystem

GP Bullhound Releases Annual Report On The European Tech Ecosystem

Titans of Tech: GP Bullhound releases its annual report on the European tech ecosystem

GP Bullhound, a technology advisory and investment firm, providing transaction advice and capital to entrepreneurs and founders, released its Titans of Tech 2024 report.

For the tenth year in a row, the Titans of Tech report highlights and analyses the growth trends in Europe’s tech ecosystem.

Key takeaways from the document included:

  • Funding levels have normalised, averaging €15Bn per quarter over the last year, which is ~50% higher than 2019.
  • 14 new unicorns were created in the last 12 months. Europe and Israel now have 323 unicorns, up from 311 a year ago and 283 the year before. The ecosystem’s total valuation has grown to $1.2Tr, an ~11x increase in billion-dollar companies and a ~14x increase in aggregate valuation since our first report in 2014.
  • Access to capital rounds exceeding $50 million has tightened but investors remain interested in supporting innovators. The deal count dropped 68% over the last two years due to a focus on profitability and conservative planning. Only 17% of European unicorns raised capital in 2023, as 93% had already raised funds during the 2021-2022 bull market.
  • Despite funding challenges, technological developments, especially in artificial intelligence, continue to drive automation and cost savings. European AI companies received over €11Bn in funding in the last year, with 36% of new unicorns being AI/ML businesses.
  • This year, the UK and France lead the startup arena with three unicorns each. The UK’s unicorns are valued at $3.4Bn, with contributions from AI leaders Synthesia and Builder.ai. France’s trio reaches a collective valuation of $7Bn, highlighted by innovators like Mistral AI. Germany, Israel, and the Netherlands each added two unicorns, while Sweden and Italy added one unicorn each.
  • GP Bullhound has analysed more than 100 European startups for scale, velocity, and sentiment, and ranked the top 50 companies with the most potential to become one-billion-dollar companies. The top 10 include Agicap, Brevo, Typeform, Homa, AMBOSS, Akeneo, Form3, Flo Health, Aidoc, and ConnexOne.

Founded in 1999 in London and Menlo Park, GP Bullhound is a technology advisory and investment firm providing transaction advice and capital to the world’s best entrepreneurs and founders. The firm today has 12 offices spanning Europe, the US and Asia.

VCWire

27/05/2024