24.05.2024,
5008 Zeichen
London (ots/PRNewswire) - Titans of Tech: Unrivalled era of A.I. led
innovation for European Tech - No more excuses. GP Bullhound is proud
to announce the release of its Titans of Tech 2024 report. For the
tenth year in a row, GP Bullhound has released its annual Titans of
Tech report, highlighting and analysing the growth trends in Europe's
tech ecosystem. This comprehensive analysis underscores the
resilience and growth of Europe's tech sector, setting the stage for
a new era of innovation and investment.
Key takeaways from our report include:
50% higher than 2019.
* The value of the ecosystem is growing despite the failures: 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
* Megarounds are fewer but larger and still accessible: 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.
* Software innovation continues, shaping the way we live and work:
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.
* Category leaders and geographies: This year, the UK and France
lead the startup arena with three unicorns each. The UK's
unicorns
are valued at $3.4Bn, with significant 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.
* Europe's most promising startups: 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.
Manish Madhvani, Managing Partner at GP Bullhound, said: "After ten
years of issuing our Titans of Tech report, we have witnessed the
highs and lows of the European tech ecosystem. A year ago, the
situation was less encouraging for the fundraising environment, with
macro uncertainty and with businesses more focused on layoffs than on
growth and innovation.
Today, against the backdrop of negative headlines, we have cemented
the building blocks for the next wave of innovation. Funding levels
have stabilised, and are amazingly 50% higher than pre bull market
levels.
With Europe's maturing base of engineering talent and the world's
fascination in its potential productivity gains, artificial
intelligence offers a unique opportunity to create global leaders in
record time. There is no shortage of funding for the best
entrepreneurs and companies, as evidenced by the record $220m seed
round for Paris based H announced this week. What was noticeable
about the round was the range of the investor syndicate : from
strategics such as Amazon, Samsung and UI Path, household names such
as Bernard Arnault, Eric Schmidt and Xavier Niel, and leading
VC's.Looking ahead, we expect the next few years to represent an era
of unprecedented innovation in the European ecosystem. Innovation is
flowing, vast amounts of capital are available for the strong and the
talent pool is expanding. No more excuses Europe!"
Expert interviews What does it take to build a billion-dollar
company? What are the critical success factors for European tech? How
to remain resilient in a challenging market and benefit from economic
downturns? This year's report features expert views from leading
founders and CEOs, including Synthesia, Quantexa, SEON, Flo Health,
Zappi and CoverManager.
Download full report:
www.gpbullhound.com/articles/titans-of-tech-2024
Enquiries For enquiries, please contact: press@gpbullhound.com
About GP Bullhound GP Bullhound is a leading technology advisory and
investment firm, providing transaction advice and capital to the
world's best entrepreneurs and founders. Founded in 1999 in London
and Menlo Park, the firm today has 12 offices spanning Europe, the US
and Asia. For more information, please visit www.gpbullhound.com.
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