Tag: French

  • More than 10 European startups became unicorns this year

    More than 10 European startups became unicorns this year

    Funding season is about to restart in Europe after the summer lull, and if all goes well, it will be counting new unicorns in dozens — plural. While mega-rounds are less common than they were in 2021, this hasn’t prevented 12 European startups from raising rounds at valuations of more than $1 billion during the first half of 2025.

    As the usual caveat goes, past performance is not indicative of future results, but this bodes well for the rest of the year. Either way, this is also a good indication of the sectors that are hot among investors, from biotech and defense tech to AI, AI, and AI.

    Here are the new European unicorns of 2025: 

    July 2025

    Lovable

    Fast-growing Swedish AI vibe coding startup Lovable became a unicorn in record time. In July, only eight months after its launch, it raised a $200 million Series A led by Accel at a $1.8 billion valuation. One note: Lovable Labs Inc. is registered in Delaware, but most of the startup’s team members and open roles are based in Stockholm. 

    Fuse Energy

    Fuse Energy, a British renewable energy company founded in 2022 by two former Revolut executives, raised a funding round that is thought to have valued the company at more than $1 billion, The Times reported in July.

    June 2025

    Mubi

    Film-streaming service Mubi raised a $100 million round led by Sequoia Capital in June, valuing the company at $1 billion and making it a unicorn. Founded in 2007 as a curated platform, this indie Netflix rival now also produces and distributes movies.

    Zama

    French startup Zama raised a $57 million Series B that brought its valuation to north of $1 billion. The company develops homomorphic encryption, a technique that uses cryptographic algorithms to keep data secure.

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    Tech and VC heavyweights join the Disrupt 2025 agenda

    Netflix, ElevenLabs, Wayve, Sequoia Capital, Elad Gil — just a few of the heavy hitters joining the Disrupt 2025 agenda. They’re here to deliver the insights that fuel startup growth and sharpen your edge. Don’t miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $600+ before prices rise.

    Tech and VC heavyweights join the Disrupt 2025 agenda

    Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They’re here to deliver the insights that fuel startup growth and sharpen your edge. Don’t miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise.

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    Isar Aerospace

    German space startup Isar Aerospace became a unicorn in June after reaching an agreement with Eldridge Industries for a convertible bond of €150 million (approximately $173 million). The launch company spun off from the Technical University of Munich (TUM), which now claims 22 unicorns.

    May 2025

    Tekever 

    Tekever, a dual-use drone startup out of Portugal, raised a funding round in May that it said confirmed its more than £1 billion valuation, which hadn’t been previously announced. 

    It’s backed by Ventura Capital, Baillie Gifford, the NATO Innovation Fund (NIF), Iberis Capital, and Crescent Cove, and is set to fund the company’s plans to invest £400 million into a U.K. development plan spanning five years.

    Quantum Systems

    Quantum Systems Soars to Unicorn Status — €160 Million Boost!

    In a blockbuster move, German dual‑use tech firm Quantum Systems hit the unicorn milestone back in May 2025, sliding past the €1 billion valuation ceiling with a fresh Series C raise.

    What the Money Is Doing

    • Global Expansion – From Berlin to the world stage.
    • Scaling Production – Fancy drones getting their own manufacturing floor.
    • AI & Software Upgrades – Next‑gen autonomous flight control that even a duck would envy.

    The €160 million haul (roughly $172 million) is a turbo‑charged fuel injection for a company that straddles the defence and consumer markets alike.

    Who’s Pulling the Strap?

    • Balderton Capital – Taking the leading role.
    • Side‑kicks: Hensoldt, Airbus Defence and Space, Bullhound Capital, LP&E AG.
    • Existing backers keep the wheels turning: HV Capital, Project A, Peter Thiel, DTCP, Omnes Capital, Airbus Ventures, Porsche SE, and Notion.

    With a cocktail of seasoned investors and fresh money, Quantum Systems is no longer just a tech startup. It’s a veritable Super‑Company ready to broadcast its “smart‑drone‑software” flag far beyond German borders. Cheers to the future of autonomous flight!

    Parloa

    Parloa, a German startup offering a conversational AI platform for customer service, secured $120 million in Series C funding at a valuation of $1 billion in May 2025, less than a year after its $66 million Series B and two years after its $21 million Series A. The Series C was led by Durable Capital Partners, Altimeter Capital, and General Catalyst.

    March 2025

    Isomorphic Labs

    Isomorphic Labs, a London-based AI drug-discovery platform that spun out of Google’s DeepMind in 2021, raised external capital for the first time in March 2025 with a $600 million round led by Thrive Capital, with participation from GV and Alphabet. The valuation wasn’t disclosed, but the round size firmly places the British spinoff within unicorn territory.

    February 2025

    Tines

    Dublin-based Tines, a startup focused on AI-powered workflows, became a unicorn in February 2025 after raising a $125 million Series C from new and existing investors at a valuation of $1.125 billion. 

    The Irish startup started out in security workflow automation, but has seen adoption across other parts of the tech stack, with applications in infrastructure, engineering, and product. Upon raising its Series C, the company said it was now performing over a billion automated actions on behalf of its customers every week.

    January 2025

    Verdiva Bio

    Less than one year after its launch, London-based biotech Verdiva Bio raised a massive $410 million Series A in January 2025 as its first announced round of funding. This instantly made a unicorn out of the company, whose pipeline includes an oral-based GLP-1 drug similar to Ozempic and Wegovy.

    Neko Health

    Neko Health, the preventative health startup co-founded by Spotify’s Daniel Ek, raised a $260 million Series B at a $1.8 billion valuation in January 2025. 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, with the goal of helping people stay healthy through early detection. According to its CEO and co-founder Hjalmar Nilsonne, the funding will accelerate Neko’s global expansion of locations beyond Stockholm and London to include the U.S., as well as investments in R&D. 

  • ‘Intolerable’: Airlines slam passenger disruption caused by French air traffic controller strikes

    ‘Intolerable’: Airlines slam passenger disruption caused by French air traffic controller strikes

    Budget airline Ryanair has called on EU Commission President Ursula von der Leyen to take urgent action.

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    A strike by French air traffic controllers (ATC) entered its second day on Friday with flight delays and cancellations continuing for thousands of passengers.
    Airlines have slammed the industrial action, which comes during one of the busiest months of the year for air travel.

    Budget airline Ryanair has called on EU Commission President Ursula von der Leyen to take urgent action.

    Tens of thousands of passengers affected by French airport strikes

    In response to the walkout, the French Civil Aviation Authority (DGAC) has asked for a reduction in airport capacity across the country.
    Airlines for Europe (A4E) said on Thursday that a total of 1500 flights have been cancelled on 3 and 4 July, affecting over 300,000 passengers.
    Late on Thursday, Ryanair said it has been forced to cancel 400 flights on Thursday and Friday due to the strike, including some flights over France to the UK, Spain, Greece and Ireland. It could disrupt travel for more than 70,000 passengers.
    Easyjet has also said it has had to cancel 274 flights during the walkout.

    Ryanair says European families are ‘held to ransom’ by strikes

    The industrial action comes on the eve of the school summer holidays in France, when air traffic peaks. These dates are some of the busiest of the year, according to DGAC, as many head off on their summer break.
    Ryanair has lambasted the move. “Once again, European families are held to ransom by French air traffic controllers going on strike,” CEO Michael O’Leary said in a statement.
    He highlighted that the strike is also affecting all flights passing over French airspace, meaning passengers who are not landing or leaving from France are also experiencing disruption.
    “It is not acceptable that overflights over French airspace en route to their destination are being cancelled/delayed as a result of yet another French ATC strike,” O’Leary said. “It makes no sense and is abundantly unfair on EU passengers and families going on holidays.”

    The airline has called on Ursula von der Leyen to take urgent action to reform the EU’s ATC services by ensuring that they are fully staffed for the first wave of daily departures and protecting overflights during national ATC strikes.
    “These two splendid reforms would eliminate 90 per cent of all ATC delays and cancellations, and protect EU passengers from these repeated and avoidable disruptions due to yet another French ATC strike.”

    Airline association calls strikes ‘intolerable’

    Airlines for Europe (A4E) has also hit back over the disruption caused by the French ATC strike.
    “Tens of thousands of travellers in France and across Europe have seen their summer getaway grounded as French air traffic controllers walk out,” the group said in a statement.
    “Already in 2025, French ATC has proven to be one of the weakest links in Europe’s ATC system, posting some of Europe’s worst delay records.”
    ATC capacity-related delays in June 2025 reportedly jumped 115 per cent compared to June 2024.
    “European Transport Commissioner Tzitzikostas has repeatedly pressed member states to fix poor-performing ATC and it is high time they stopped the excuses and took action,” the A4E statement continues.

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    The group is calling for various measures to prevent future disruption to passengers in France and across Europe:

    Mandatory arbitration before ATC unions can threaten strike action
    A 21-day advance notification of strike action.
    Provision of a 72-hour advance individual notification of participation in industrial action
    Protection of overflights, while ensuring this is not at the expense of departures and arrivals in the country where the strike originates
    A right of redress with Air Navigation Service Providers (ANSPs) for the impact of disruption

    “This strike is intolerable. French ATC already delivers some of Europe’s worst delay figures and now the actions of a minority of French ATC workers will needlessly disrupt the holiday plans of thousands of people in France and across Europe,” said Ourania Georgoutsakou, Managing Director of A4E.
    “There is intense discussion about passenger rights in the EU right now, yet policymakers have done little to fix ATC to help them attain the most basic right: reaching your destination on time.”

  • How a drone and missile startup is helping Ukraine become the ‘Silicon Valley of defence’

    How a drone and missile startup is helping Ukraine become the ‘Silicon Valley of defence’

    The Ukrainian startup is developing long-range drones and missiles to take the battle to Russia.

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    When a Ukrainian-made drone attacked an ammunition depot in Russia last September, it showcased Kyiv’s determination to strike deep behind enemy lines – and the prowess of its growing defence industry.
    The moment was especially gratifying for the woman in charge of manufacturing the drones that flew more than 1,000 kilometres to carry out this mission. For months after, Russia no longer had the means to keep up devastating glide bomb attacks like the one that had just targeted her native city of Kharkiv.

    “Fighting in the air is our only real asymmetric advantage on the battlefield at the moment. We don’t have as much manpower or money as they have,” said Iryna Terekh, head of production at Fire Point.
    Terekh spoke as she surveyed dozens of “deep-strike drones” that had recently come off the assembly line and would soon be used by Ukrainian forces to attack arms depots, oil refineries, and other targets vital to the Kremlin’s war machine and economy.
    Spurred by its existential fight against Russia – and limited military assistance from Western allies – Ukraine has fast become a global centre for defence innovation. The goal is to match, if not outmuscle, Russia’s capabilities – and Fire Point is one of the companies leading the way.

    Related

    ‘Win-win partnership’: French companies to manufacture drones in Ukraine

    The Associated Press was granted an exclusive look inside one of Fire Point’s dozens of covert factories. In a sprawling warehouse where rock music blared, executives showed off their signature FP-1 exploding drones that can travel up to 1,600 kilometres.

    They also touted publicly for the first time a cruise missile they are developing that is capable of traveling 3,000 kilometres, and which Ukrainian President Volodymyr Zelenskyy hopes will be mass-produced by the end of the year.
    Even as US President Donald Trump presses for an end to the 3.5-year war – and dangles the prospect of US support for NATO-like security guarantees – Ukrainian defence officials say their country is determined to become more self-sufficient in deterring Russia.
    “We believe our best guarantee is not relying on somebody’s will to protect us, but rather our ability to protect ourselves,” said Arsen Zhumadilov, the head of the country’s arms procurement agency.
    Ukraine’s government is now purchasing about $10 billion (€8.7 billion) of weapons annually from domestic manufacturers. The industry has the capacity to sell triple that amount, officials say, and they believe sales to European allies could help it reach such potential in a matter of years.

    Drone innovation grew out of necessity

    Like most defence companies in Ukraine, Fire Point grew out of necessity after Russia’s full-scale invasion in 2022. Despite pleas from Ukrainian military officials, Western countries were unwilling to allow Kyiv to use their allies’ longer-range weapons to strike targets deep inside Russian territory.
    That’s when a group of close friends who were experts from various fields set out to mass-produce inexpensive drones that could match the potency of Iranian-made Shahed drones that Russia was firing into Ukraine with devastating consequences.

    Related

    Russia ramps up drone production using teenage workers, video shows

    The company’s founders spoke with AP on the condition of anonymity out of concern for their safety and the security of their factories.
    By pooling together knowledge from construction, game design, and architecture, the company’s founders – who had no background in defence – came up with novel designs for drones that could fly further and strike with greater precision than most products already on the market. Their long-range drones had another benefit: they did not need to take off from an air field.
    When Terekh, an architect, was hired in the summer of 2023, she was given a goal of producing 30 drones per month. Now the company makes roughly 100 per day, at a cost of $55,000 (€47,700) apiece.
    The FP-1 looks more like a hastily made science project than something that would roll off the production lines of the world’s biggest defence contractors.
    “We removed unneeded, flashy, glittery stuff,” she said.
    But the FP-1 has been extremely effective on the battlefield.
    With a payload of explosives weighing 60 kilograms, it is responsible for 60 per cent of strikes deep inside Russian territory, including hits on oil refineries and weapons depots, according to Terekh.
    These strikes have helped to slow Russia’s advance along the 1,000 kilometre-long front line in eastern Ukraine, where army units have reported a sharp decline in artillery fire.

    Related

    Ukrainian drone strikes hit defence industry facilities across Russia

    “I think the best drones, or among the best, are Ukrainian drones,” said Claude Chenuil, a former French military official who now works for a trade group that focuses on defence.
    “When the war in Ukraine ends, they will flood the market,” he added.

    Ukraine is becoming the ‘Silicon Valley of defence’

    Fire Point’s story is not entirely unique. Soon after Russia’s 2022 invasion, hundreds of defence companies sprouted almost overnight. The Ukrainian government incentivised innovation by relaxing regulations and making it easier for startups to work directly with military brigades.
    Patriotic entrepreneurs in metallurgy, construction, and information technology built facilities for researching and making weapons and munitions, with an emphasis on drones.
    The ongoing war allowed them to test out ideas almost immediately on the battlefield, and to quickly adapt to Russia’s changing tactics.
    “Ukraine is in this very unique moment now where it is becoming, de facto, the Silicon Valley of defence,” said Ukrainian defence entrepreneur Yaroslav Azhnyuk.
    “The biggest strategic asset that we have is that we have been at war with Russia for 11 years”.

    Related

    Who really pays for what in the war on Ukraine? A tale of three burdens

    A case in point: Fire Point had initially sourced navigational equipment for its drones from a major Western firm, but before long Russia was able to disrupt their effectiveness using electronic warfare. So Fire Point developed its own software to outwit the enemy.
    Because defence companies are high-value targets for Russia, many operate underground or hidden within civilian centres to evade detection.
    Although they are guarded by air defences, the strategy has the disadvantage of putting civilians at risk. Many Ukrainians have died in imprecise Russian attacks that were likely targeting weapons facilities.
    Entrepreneurs said the alternative is to operate openly and face attacks that would set back the war effort.

    Supplies of drones don’t last long

    On the day AP reporters visited the Fire Point factory, there were dozens of drones awaiting delivery. They would all be gone within 72 hours, shipped to the battlefield in inconspicuous cargo trucks.
    The Fire Point team receives regular feedback from army units, and the company has reinvested most profits toward innovating quickly to keep pace with other drone makers. Increasingly, those profits are being directed to develop a new, more potent weapon.

    Related

    Lithuania joins Baltic neighbours in teaching children to build and fly drones

    The company completed testing this year for its first cruise missile, the FP-5. Capable of traveling 3,000 kilometres and landing within 14 metres of its target, the FP-5 is one of the largest such missiles in the world, delivering a payload of 1,150 kilograms, independent experts said.
    Because initial versions of the missile came out pink after a factory error, they called it the Flamingo – and the name has stuck.
    Fire Point is producing roughly one Flamingo per day, and by October they hope to build capacity to make seven per day, Terekh said.
    Even as Zelenskyy and other Ukrainian officials pursue ways to end the war, Terekh said she is skeptical that Russia will accept terms for a real peace.
    “We are preparing for a bigger, much scarier war”.