The world of startups is gaining huge attention. From healthcare to finance to shared apartments to doorstep delivery, they reached the pinnacle of success. Through successful diversification of its economy, Europe has emerged as a technology and startup hub for the region and the world. A number of companies based in the country manage their operations in the region and beyond, and credit goes to its startup ecosystem.
The startups and tech companies listed hereafter consist of many diverse industries and sectors, from ride-hailing to delivery to eCommerce to games to entertainment and to name a few. Startups in Europe have disrupted a wide range of industries and created new verticals. Moreover, the European tech sector is growing at some astonishing rates.
In Europe’s startup scene, Silicon Valley, which has dominated the startup ecosystem worldwide for years, continues to remain unchallenged. The Valley has raised mountains of funding, attracted world-class talent, and put out world-class companies at an impressive pace. There is, however, a tentative shift in the balance, with a proliferation of new and exciting tech hubs sprouting across Europe and global trends shifting in our favor.
In short, with the incredible speed at which the new startup ideas in Europe are growing, and the sheer number of entrepreneurs being founded, it seems like European countries have become the “sweet spot” for startups.
Before heading to list down the best European startups, it’s worth examining some catchy statistics and the environment.
Europe’s Startup Ecosystem
It is said that startup ecosystems are like trees, and both take enough time and various pesticides to grow and ultimately bear fruit. When talking about Europe’s successful startups, bolt, Glovo, MediQuo, Everli, etc., are popular names.
It means the startup scene in Central and Eastern Europe is producing companies that would make any startup ecosystem envious and are increasingly drawing attention worldwide. Crunchbase data shows that European startups received $59 billion in venture funding in the second half of 2020, significantly increasing from $18.5 billion in the first half and $24.5 billion in the second half.
Well, this figure itself shouts that the previous year was the bumper of European startups, but the pandemic has also left several serious effects.
Europe’s startup market has been hit hard by Covid-19’s first few months. The pandemic significantly impacted startups throughout Europe, with countries like Italy among the worst affected early on. Fundraising plans were also delayed by more than 40% of startups.
Now coming to the main point, here we have narrowed down the list of best European startups that entered unicorns and have the potential to drive the changes in their sectors.
MediQuo
Website: https://www.mediquo.com
Industry: Healthcare
Total funding: €4M
Originated in Barcelona, MediQuo has transformed the healthcare sector as it focuses on managing online medical appointments. Patients can get immediate responses from doctors and medical representatives, they can also send images, videos, and reports to the doctor. Users can register themselves for free, but to access specialists, they can opt for premium plans.
MediQuo offers immense benefits to patients, including quick chat, healthcare groups, blogs, and whatnot. One might get shocked to know, but the app has been downloaded by 650,000 users and managed more than a million medical appointments.
Glovo
Website: https://glovoapp.com
Industry: Delivery and logistics
Total funding: €900M
Indeed, the pandemic has turned beneficial for online delivery businesses, and when we talk about the European delivery market, Glovo stands first. Glovo is a Spanish online delivery platform connecting customers with nearby stores and restaurants to order products online. Glovo was founded in 2015 but is constantly winning the hearts of customers and expanding its services.
In fact, its sudden success tempts entrepreneurs to transform their brick-and-mortar business by developing a delivery app like Glovo because it helps them to be a part of the gig economy in no time.
BlaBlaCar
Website: https://www.blablacar.com
Industry: Transportation
Total funding : $563.5M
A company called BlaBlaCar connects commuters with empty seats in their cars as they travel from one city to another. There is a large number of people who drive long distances from Switzerland to or through Germany. Users can share their routes online; the cost of flying to their destination can be split with other riders if your journey is the same as theirs.
Everli
Website: https://it.everli.com
Industry: Grocery delivery
Total funding: €28.4M
The online grocery delivery business has been experiencing massive growth since the pandemic hit the world, and Everli is clearly the winner as it allows customers to get groceries and other essentials at their doorsteps. In early 2020, as the pandemic loomed, the company raised €11MM in seed funding before raising a second €13MM round in Series B in early 2018.
With Instacart’s valuation expected to more than double by 2020 (CNBC), Everli is in an excellent position to dominate Italy’s grocery delivery market and expand into other parts of the European countries.
Klarna
Website: https://www.klarna.com
Industry : FinTech, eCommerce
Total funding : $639M
With BNPL, customers can spread the cost of purchases over a period of interest-free installments, Klarna has grown into one of the well-known names in European technology. It has tied up with Stripe, and the partnership will make it easier for retailers to add Klarna as a payment method on their website through Stripe, said its chief technology officer.
European startups activating the positive flywheel
A unique chance exists for Europe to make its mark on the global tech scene and challenge the dominance of the U.S. and China. The talent, market, ambition, and funding are all here, and most entrepreneurs are ready to close the deal. A key element to the success of European entrepreneurs is attracting more institutional investors and ensuring there is support available in those early stages to encourage, mentor, support, and drive them.
From the above discussion, we can say that Europe is a startup paradise, and the above companies are planning to roll out to more locations globally.
Author bio
Nirav Parmar
Having More than three years of experience, Nirav is an outreach expert at Elluminati Inc. Having a keen interest in communication, content, and digital marketing, he has worked with many brands and helped entrepreneurs to establish an online presence that drives their business forward.
