Resilient European tech startups near record $41 billion investment - report

FILE PHOTO: The Spotify logo is displayed on a screen on the floor of the New York Stock Exchange in New York, U.S., May 3, 2018. REUTERS/Brendan McDermid

With 115 venture capital-backed ‘unicorns’, with a valuation of more than $1 billion, the total valuation of tech firms founded in Europe since 2000 has grown to nearly $1 trillion. While Europe still lags North America by five to one in terms of dollars invested, the amount of institutional money flowing into venture capital has grown threefold over the last five years, Atomico estimates.

Although travel tech has been hit hard by lockdowns, Berlin startups GetYourGuide and Omio attracted fresh funds from investors taking a view that they will prosper once the pandemic passes.Europe notched up 32 initial public offerings by technology firms through October, with just three valued above $1 billion, overshadowed by outsized tech IPOs in the United States.

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