TechCrunch has compiled a list of 12 European startups that crossed the $1 billion valuation mark in the first half of 2025. The cohort spans biotech, defense tech, space, energy, and AI — lots of AI. Notably, two of the companies now valued at unicorn levels also operate offices in Ukraine. Here’s a look at the new unicorns.

• Lovable — the Stockholm-based «AI vibe-coding» startup reached unicorn status in record time. In July, just eight months after launch, Lovable raised $200 million in Series A funding led by Accel at a $1.8 billion valuation. Although legally registered in Delaware, most of its team and hiring base are in Sweden.
• Fuse Energy — founded in 2022 by two former Revolut executives, the renewable energy startup was valued at over $1 billion in July, according to The Times.
• Mubi — the curated film streaming platform raised $100 million in June from Sequoia Capital, reaching a $1 billion valuation. Founded in 2007, Mubi now produces and distributes films, positioning itself as an independent rival to Netflix.
• Zama — In June, French startup Zama closed a $57 million Series B, pushing its valuation past $1 billion. Zama specializes in homomorphic encryption — a cutting-edge cryptographic technology for data protection.
• Isar Aerospace — the Munich-based space company became a unicorn in June after striking a €150 million ($173 million) convertible debt deal with Eldridge Industries. Spun out of the Technical University of Munich, Isar Aerospace is one of 22 unicorns linked to the institution.
• Tekever — the Portuguese drone maker with an office in Ukraine hit a valuation of more than £1 billion in May. Backed by Ventura Capital, Baillie Gifford, NATO Innovation Fund, Iberis Capital, and Crescent Cove, Tekever plans to invest £400 million in UK development over the next five years.
• Quantum Systems — the German dual-use startup, which also operates an office in Ukraine, became a unicorn in May 2025, according to PitchBook. The company raised €160 million (around $172 million) in a Series C round to accelerate global expansion, scale production, and advance the development of autonomous drones, software, and AI. The round was led by Balderton Capital, with participation from Hensoldt, Airbus Defense and Space, Bullhound Capital, and LP&E AG. Existing investors also joined, including HV Capital, Project A, Peter Thiel, DTCP, Omnes Capital, Airbus Ventures, Porsche SE, and Notion.
• Parloa — the Berlin-based conversational AI startup raised $120 million in May in a Series C led by Durable Capital Partners, Altimeter Capital, and General Catalyst. The round pushed Parloa to a $1 billion valuation less than a year after its $66 million Series B.
• Isomorphic Labs — the London-based AI drug discovery platform, spun out of Google DeepMind in 2021, raised its first external funding in March 2025. The company secured $600 million in a round led by Thrive Capital with participation from GV and Alphabet. While the valuation was not disclosed, the sheer size of the round firmly positioned the British spinoff in the unicorn club.
• Tines — the Dublin-based startup specializing in AI-powered workflows became a unicorn in February 2025 after raising $125 million in a Series C round from new and existing investors at a valuation of $1.125 billion. Originally focused on automating security workflows, Tines has since expanded into infrastructure, engineering, and product. Following the Series C, the company announced that it was performing over one billion automated actions per week on behalf of its customers.
• Verdiva Bio — less than a year after its launch, the London-based biotech startup raised $410 million in a Series A round in January 2025, marking its first-ever funding round. The investment immediately propelled the company to unicorn status. Its pipeline includes an oral GLP-1 drug similar to Ozempic and Wegovy.
• Neko Health — the preventive medicine startup co-founded by Spotify’s Daniel Ek raised $260 million in a Series B round in January 2025 at a $1.8 billion valuation. The round was led by Lightspeed Venture Partners, with participation from General Catalyst, O.G. Venture Partners, Rosello, Lakestar, and Atomico. The Swedish company offers full-body scans to help people maintain their health through early disease detection. According to CEO and co-founder Hjalmar Nilsonne, the funds will be used for global expansion (including the US, in addition to Stockholm and London) and for further R&D investment.