With most countries struggling to uplift their economy and get job losses under control, saying that this year was rough would be an understatement. However, we’ve previously reported how the European startup ecosystem, especially Amsterdam, stayed strong during the pandemic. Now, a new report by Atomico sheds further light on the current situation with its report titled ‘The State of European Tech 2020’. It should be noted that the report delivers a macro snapshot of the European tech ecosystem. Here are 8 key takeaways from the report that you need to know.
1 ‘Megarounds’ helped European Tech ecosystem grow
As per the report, total investment in the European tech ecosystem is estimated to exceed a record €33.81B in 2020. This growth is being attributed to an increase in “megarounds”, which are estimated to range between €82-€206M. This is noteworthy considering how back in 2016, a hot topic was “How To Raise Above €8M in Europe”. But in 2020, an €8M seed round is a normal occurrence.