Top European semiconductor startups to watch in 2024

Semiconductors are an integral part of every electronic device, from smartphones and laptops to electric cars. Over the past years, Europe has been a leading semiconductor manufacturer, with the continent hosting multiple startups and factories.

Geopolitical tensions have forced European semiconductor startups to redefine their strategy this year as they lost the Chinese market. They now aim to enter new markets in Asia and the Middle East. 

Amid these challenges, the global semiconductor market continues to grow, with sales exceeding $500 billion in 2022. With the European Chips Act, Europe aims to double the region’s global semiconductor market share by 2030.

These growing European semiconductor startups are proof of the region’s commitment to innovation and competitiveness in the semiconductor industry.

Pragmatic

Founder(s): Scott White

Year founded: 2007

Hiring: Yes, check job opportunities here

UK-based Pragmatic manufactures ultra-thin microcircuits for mass-market objects and packaging. The semiconductor startup is transforming the industry with its ultra-low-cost, flexible integrated circuit (FlexIC) technology. 

The FlexIC is thinner than human hair and embedded in objects that can be used for various applications. Pragmatic uses its large-scale manufacturing facility in Durham to produce these products. 

The company plans to build at least eight manufacturing facilities in the UK over the next five years. Each facility can produce billions of chips and accelerate electronics production in multiple sectors.

Novelda

Founder(s): Dag T. Wisland, Eirik Næss-Ulseth, Tor Sverre Lande, and Einar Nygård

Year founded: 2004

Hiring: Yes, check job opportunities here

Based in Norway, Novelda specialises in nanoscale Ultra-Wideband (UWB) radar technology. Its sensors offer the world’s most accurate, intelligent, and reliable human presence detection.

Novelda’s XeThru sensor technology can be used for human vital sign monitoring, personal security, environmental monitoring, and industrial automation. In 2024, The Wall Street Journal named its innovation one of the top 16 gadgets.

Axelera AI

Founder(s): Cyril Vancura, Fabrizio Del Maffeo, Evangelos Eleftheriou, and Valery Vavilov

Year founded: 2021

Hiring: Yes, check job opportunities here

The Dutch semiconductor startup Axelera AI focuses on creating next-generation AI hardware and software for edge computing. Its platform has the advantage of being less expensive and energy-consuming than current solutions. 

The company has introduced two chips (AI processing units) and a software and hardware platform (Metis AI). The company’s technology combines hardware and software to shrink AI processing from a whole server to just one chip.

Last year, the startup aimed for a US expansion with a €46.25 million investment received in June. The company’s rapid growth earned it a spot on the list of The Tech Tour Growth50 Europe 2024.

Xunison

Founder(s): Peter Milenkovic, Ryan O’Donovan, and Guojun Qin

Year founded: 2016

Hiring: No

Irish tech firm Xunison develops both hardware and software from the ground up. The company aims to be the leading all-in-one broadband delivery and in-home service provider for the telecommunications and ISP markets.

The company’s products include cloud-based management platforms, consumer apps (the Xunison app), smart devices, and other connected services, such as 5G devices. One of its main targets is smart home users. 

Raw Charging

Founder(s): Bruce Galiford

Year founded: 2018

Hiring: Yes, check job opportunities here

Raw Charging is a leading supplier of electric vehicle charging infrastructure for businesses and drivers. The UK-based company evaluates the location before installing the correct EV technology, offering better solutions than a ‘one size fits all’ approach. 

One of its biggest clients is Merlin Ent., which ordered 38 charging bays across LEGOLAND Windsor Resort this April. In addition to Merlin Ent., Raw Charging has worked with numerous companies in the hospitality, leisure, and retail sectors.

Sencure

Founder(s): Jurryt Vellinga

Year founded: 2021

Hiring: Yes, check job opportunities here

Dutch-based Sencure provides medical devices for monitoring and diagnostic purposes. It develops innovative chip technology to improve vital signs monitoring solutions for remote, in-hospital, or health tracking in wearables. 

The company uses electrophysiology, analysing bioelectrical data from the heart, brain, respiratory system, and muscles, combining them with posture and movement data, to monitor patient health.

Sencure secured €5 million in a July 2023 funding round. It used the funding to commercialise its flagship health monitoring product, the SNCE-800 chip, which comes with exceptional power efficiency. 

A4Cell

Founder(s): Alberto Hernandez, Jaume Esteve Tintó, José Antonio Plaza, and Juan Pablo Agusil

Year founded: 2018

Hiring: No

Arrays for Cell Nanodevices (A4Cell) is a Spanish biotech startup offering innovative monitoring and drug discovery tools. The company has developed a new technology called SPAchip (Suspended Planar Array Chips) to track living single cells.

This product aligns with the rising trend of ditching animal testing for drug research and leaning into cell-based methods. SPAchip technology is a game-changer because it provides valuable information without disturbing living cells.

A4Cell’s latest funding round was in October 2023. It secured €3.0 million from CDTI, BeAble Capital, and Dreavent.

Energy Dome

Founder(s): Claudio Spadacini, Dario Rizzi, and Francesco Oppici

Year founded: 2019

Hiring: Yes, check job opportunities here

Energy Dome is a Spanish startup that develops a proprietary CO2 battery to dispatch solar and wind power. The battery is a long-duration energy storage device that revolutionises renewable energy technology. 

The company said that with CO2 battery technology, it is possible to store large amounts of energy for long periods anywhere without site dependency. The product is the startup’s way of realising the decarbonisation movement for a better future. This year, it is gearing up to complete the 200 MWh CO2 battery project by the end of 2024.