08 Dec Europe Tech scene is booming in 2021
It may be winter in Europe, but Europe Tech scene is on fire.
The European Tech scene is reported to be at an inflection point and we may see an increasing number of tech companies emerging in Europe in the following years. Europe is “solidifying its place as a global tech power,” according to Atomico’s annual State of European Tech 2021 report.
There are 3 key indicators, according to the report, demonstrating Europe’s Tech scene is a force to be reckoned with:
1) European Fundings are projected to hit more than 120 Bil USD in 2021.
The amount of investments in Europe’s Tech has grown tremendously and have constantly made the headlines for breaking records this year. European Tech is projected to cross the 100 Bil USD milestone of capital invested in a single year, close to 3 times the level of 41 Bil USD in 2020.
This is the first time European start-ups have raised more than 100 Bil USD in a single year, and highlights surging interest from investors in the continent’s rapidly-growing tech industry.
2) There are now 321 Unicorn companies in Europe.
The total number of tech companies that have scaled to 1+ Bil USD in Europe has jumped from 223 last year to 321, a jump of 98 companies just in 2021. There are also 26 decacorns’ with a valuation of $10 billion or more, including Klarna, Revolut and Checkout.com etc.
3) Total equity value of European Tech companies has passed 3 Tril USD.
This the first time that the aggregated value for private and public markets have gone beyond 3 Tril USD. It took about a decade for Europe to his its first 1 Tril USD value in Dec 2018, then 2 years to cross the 2 Tril USD mark and 8 months on, crossing the 3 Tril USD value.
The growth of Tech in Europe is off the charts across various sectors – Is your team ready to capitalize on new market opportunities?
At NAOS International, our team of Senior Consultants have been hiring top talents for clients within the Tech industry, including sectors like AgriTech, FinTech, HealthTech for companies and VCs. Reach out to us to find out more.
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