These 10 European tech startups had the biggest funding rounds in Q2 2019

These 10 European tech startups had the biggest funding rounds in Q2 2019

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The European startup market is booming at a rapid pace. The European tech startups witnessed a record-breaking investment in the second quarter of this year. There has been a wave of mega funding rounds of €100 million and above pumped into the tech startups across the continent accounting to over €4.8 billion only in Q2 2019.

The all-time high investment into the European tech startups shows that the business ecosystem in the continent is scaling up at a rapid pace and providing the opportunity for many companies to become unicorns. Having said that, here we have listed 10 companies in Europe that have broke the all-time record investment in Q2 2019 as sourced from Dealroom.

Northvolt (Sweden)

Founders: Peter Carlsson, Paolo Cerruti
Funding: €960 million
Valuation: SEK400 million – SEK600 million
Founded Year: 2016

Why its hot: Stockholm-based Northvolt operates with the mission to build the greenest battery cell in the world. This battery cell is recyclable and contributes to a minimal carbon footprint. The lithium-ion battery systems developed by Northvolt range can power a car, entire grids or a house. These battery systems use data to keep track of the customer usage pattern. In June, the company raised €886 million from Volkswagen Group, Goldman Sachs, AMF, BMW Group, IMAS Foundation and Folksam Group.

Greensill (UK)

Founders: Lex Greensill, Jason Austin
Funding: €955 million
Valuation: $3.5 billion
Founded Year: 2011

Why its hot: Greensill is a market-leader providing working capital finance for companies across the world. The company uses the power of financial markets to unlock capital. The company headquartered in London has offices in Chicago, New York, Frankfurt, Miami, Sydney and Bremen. In May 2019, Greensill raised €712 million growth equity from SoftBank.

Deliveroo (UK)

Founders: William Shu, Greg Orlowski
Funding: €1.3 billion
Valuation: $2.3 billion – $3.5 billion
Founded Year: 2013

Why its hot: The London-based food delivery giant focuses on building a world-class service. Deliveroo uses machine learning algorithms to estimate the time taken to prepare a meal and optimise the delivery route so that it can cut the delivery time by up to 20%. The team at Deliveroo ensures to offer more trips for riders and new customers to restaurants thereby increasing their revenue. This company raised nearly €515 million Series G funding from Amazon, Greenoaks Capital Management, Fidelity and T.Rowe Price.

UiPath (Romania)

Founders: Daniel Dines, Marius Tirca
Total Funding: €924 million
Valuation: $7 billion
Founded year: 2005

Why its hot: UiPath delivers the most advanced Enterprise RPA platform for IT and businesses. The company’s technology is used by thousands of companies operating in accounting and finance, document management, healthcare, contact centre and other industries. UiPath helps address major technical challenges faced by its clients including process automation, data extraction, business process outsourcing, data migration, etc. The Romanian company raised nearly €506 Series D funding from Accel Partners, Sequoia Capital, Wellington Management, Institutional Venture Partners and a few others in April.

GetYourGuide (Germany)

Founders: Jochen Mattes, Johannes Reck, Martin Sieber, Pascal Mathis, Tao Tao, Tobias Rein
Funding: €595 million
Valuation: $1 billion
Founded Year: 2009

Why its hot: GetYourGuide is an online marketplace and internet booking engine offering incredible travel experiences. This German travel tech startup operates with the mission to transform travel tips into memorable experiences and turns dreams into reality. In May, GetYourGuide secured €431 million Series E funding from Lakestar, Heartcore Capital, Temasek, SoftBank, Korelya Capital and Swisscanto Invest. (UK)

Founders: Guillaume Pousaz
Funding: €209 million
Valuation: $2 billion
Founded Year: 2012

Why its hot: is an online payment solutions provider based on its proprietary technology. The company handles all aspects of the payment process and offers 100% transparency throughout the process. Recently, raised nearly €206 million Series A funding from Insight Venture Partners, DST Global, GIC, Endeavor Catalyst and Blossom Capital.

Meero (France)

Founders: Guillaume Lestrade, Thomas Rebaud
Funding: €269 million
Valuation: $1 billion
Founded Year: 2016

Why its hot: French AI photo startup Meero aims to revolutionise the photography industry by letting photographers dedicate themselves to their passion. The startup handles all the tedious and time-consuming tasks including market research, post-production, invoicing and delivery besides helping them generate revenue. In late June, Meero announced that it has raised €205 million Series C funding from Eurazeo Growth and Amsterdam-based VC, Prime Ventures among others.

Adjust (Germany)

Founders: Christian Henschel, Manuel Kniep, Paul Müller
Funding: €233 million
Valuation: $68 million – $102 million
Founded Year: 2012

Why its hot: German startup Adjust specialises in mobile advertising measurement and analytics. It is a SaaS business providing measurement and fraud prevention tools to mobile apps. Adjust touts that its clientele includes Zynga, Runtastic, BlaBlaCar, Viber, Pinterest and other big names in the mobile app market. Last month, this company raised nearly €202 million funding from Eurazeo Growth, Highland Europe, Morgan Stanley Alternative Investment Partners and Sofina.

WorldRemit (UK)

Founders: Catherine Wines, Ismail Ahmed, Richard Igoe
Funding: €330 million
Valuation: $900 million
Founded Year: 2010

Why its hot: WorldRemit is a London-based quick money transfer startup. It is a global leader in the online payments market sector as it provides a low-cost and convenient alternative to the traditional and expensive method. In late May, WorldRemit raised nearly €155 million Series D funding from Accel Partners, Technology Crossover Ventures and LeapFrog Investments.

Glovo (Spain)

Founders: Oscar Pierre, Sacha Michaud
Funding: €302 million
Valuation: €600 million – €900 million
Founded Year: 2015

Why its hot: Glovo, the Spanish on-demand delivery app lets users order anything locally and get it delivered within minutes. The service delivers food items, groceries and pharmaceuticals as well. The company wants to expand to other categories including laundry and alcohol as well. It is in plans to make grocery delivery possible within a short span of 20 minutes. In April, Glovo secured €150 million Series D funding from Lakestar, an international venture capital firm, Drake, Idinvest Partners and Korelya Capital.

Stay tuned to Silicon Canals for more updates in the tech startup world.

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