The data analytics consultancy CB Insights has released a map of the European startups that have received the most funding . The map identifies, for each European country, the startup that has raised the most money.
The firm points out that since 2015, $90 billion has been invested in European tech startups . Looking at the leading startup in each country, the cumulative amount stands at almost $9.2 billion (as of February 3, 2020).
OneWeb, Klarna and N26 are among the top three startups that have raised the most funding.
At the top of the European podium is the British satellite operator OneWeb , having raised over $3.4 billion. The startup had attracted the attention of many European observers in recent months after the coronavirus crisis severely impacted its operations, leading it to file for bankruptcy at the end of March. The international operator had set itself the goal of bringing internet access to the entire world through the launch of a constellation of mini-satellites . Five years after its initial fundraising rounds, the company founded by Greg Wyler filed for bankruptcy on March 27, but hoped to attract interest from potential buyers. This wish was granted in early July when a surprising Anglo-Indian partnership announced its acquisition of OneWeb.
More recently, N26 also made headlines for
issues related to labor law compliance in Germany.
An internal conflict between management and employees had been simmering for several months
at the company’s headquarters . At issue was
the creation of a works council, a proposal championed by N26 employees. Challenged by management on the grounds that it would hinder the company’s agility, the initiative took a legal turn. After a vote by show of hands,
the works council was ultimately approved and, barring any unforeseen circumstances, should be established soon.
Hooray! The
French representative for CB Insights’ mapping service is none other than
BlaBlaCar .
The carpooling app has raised $449 million – and despite record losses during the lockdown (less than 1% of its activity) – can count on a much more promising summer season than anticipated. Its CEO, Nicolas Brusson, explained on
BFM Business that
passenger demand is up 15% compared to last year . The French startup also took advantage of the lockdown to
launch BlaBlaHelp, a neighborhood help app .
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