European startups have received a record $100 billion in funding this year, according to a report from venture capital firm Atomico.
The figure is roughly three times the $41 billion of capital that was raised last year, and the first time startups have raised over $100 billion in a single year.
The news is further evidence towards growing investor interest in the continent’s rapidly-burgeoning tech industry, fuelled by the boom in rapid-grocery delivery startups including Jokr, Gorillas and Getir, which have all secured huge sums in capital over the past 12 months.
Start-ups in the region are on track to haul in a record $121 billion in funding this year, according to a report from venture capital firm Atomico, roughly three times the $41 billion of capital raised in 2020.
It’s the first time European start-ups have raised more than $100 billion in a single year, and highlights surging interest from investors in the continent’s rapidly-growing tech industry.
“It’s been a defining year for European tech,” Atomico head of insights Tom Wehmeier told CNBC.
“I think what we’ve seen in the numbers is that European tech is creating value faster than ever.”
Atomico’s latest annual “State of European Tech Report” shows that total equity value of European tech companies in the public and private markets surpassed $3 trillion for the first time in 2021.
“It took us decades to get to the first trillion in equity value in technology from Europe,” Wehmeier added.
“We got to that milestone only three years ago, in December 2018. And then we went from $1 trillion to $2 trillion in 24 months, and then this year, the most recent trillion has been added in eight months.”
Europe now houses 321 companies that are valued at over a billion dollars, or “unicorns”, 98 of which reached that valuation this year, according to Atomico.
It is also home to 26 “decacorns” which are deemed as companies worth $10 billion or more, which include fintech giants Klarna and Revolut as well as Checkout.com.