The year is no doubt a progressive one for the European startup ecosystem. The industry has continued to grow exponentially ever since its inception on the continent.
Supported by funds to bolster the activities and affairs of these startups; the funds help early businesses thrive in a healthy space amidst big names.
EarlyBird startup has been in the tech space for over 15 years. The company, founded in 1997, has procured a considerable amount of investors.
Today, the company has closed a massive early-stage fund at a market cap of €350 million. This automatically ranks it as one of the biggest European early-stage funds.
Just a few years ago, the company split into two geographical regions, namely Earlybird West and Earlybird East. The former encompasses Central Europe and Turkey.
This has shown that despite the geographical differences, Europe’s startup ecosystem is rigid. Earlybirds company has acquired two more companies to join the unicorn club.
The club is an exclusive platform that houses a Finnish software company that majorly focuses on cloud infrastructure for several other companies.
Earlybird is doggedly investing in innovation and enterprises that’ll help shape society. The Earlybird West has a fresh interest in health tech and fintech.
Its investment has expanded over France via the Paris office. A local team was hired to oversee the company’s affairs and operations.
Hendric Brandis, partner and co-founder of Earlybird in a press interview, said, “Our portfolio companies Aerospace, Aleph Alpha, Marvel Fusion or SimScale show that deep tech startups are on the rise and stem from continuous work of scientific institutions across Europe. Our role is to offer these highly scientific young companies.”
The fund will serve as a support for small companies across fintech, enterprise, and innovation struggling to find a footing. It will also help strengthen the spirited sector in Europe. As opposed to other funds, the VII fund is reportedly oversubscribed.
Christian Nagel, a partner, and co-founder of Earlybird expressed gratitude and appraisal to their longtime investors. She said, “We are grateful for the high level of commitment and trust coming from our long-term investors, many of whom accompanied us along almost all our fund generations.”
Earlybird has soared above its peers and has attained a major milestone, with another USD 900 million funding round at N26. The mobile bank is ranking second as one of the most sustainable and valuable mobile banks in Germany.
It also had another funding round in Isar Aerospace. This has given the Munich-based tech startup the title of the best-funded space technology company in Europe.
European tech is breaking all levels and becoming one of the top investments in the continent.