5 European Startups Born After 2020 That Broke Out Fast

Europe’s startup scene has serious momentum. These five companies were all founded after 2020 and have sprinted from idea to global headlines, fast. In AI, defense, energy, and space, they turned clear bets into real momentum. Below is a quick, no-fluff read on what each company does, why it matters now, and one lesson founders can steal.

Mistral AI — Paris

Founded in 2023, Mistral builds large AI models and tools meant to give European companies a credible, home-grown alternative in the AI race. In 2025 it closed a €1.7B Series C led by ASML, a strategic tie-up that signals how central Mistral is becoming to Europe’s tech stack. The scale of the round and the industrial partnership are rare in EU tech and point to serious staying power.

ElevenLabs — London/Warsaw

Launched in 2022, ElevenLabs has become the go-to platform for lifelike AI voice. A $180M Series C in 2025 pushed its valuation to about $3.3B, reflecting strong demand from media, gaming, education, and enterprise customers that need high-quality voice at scale. The company’s pace shows how quickly a focused product can become category-defining.

Helsing — Munich

Founded in 2021, Helsing builds AI software and systems for European defense, working with governments on projects that range from autonomy to decision support. In mid-2025 it raised a €600M Series D led by Daniel Ek’s investment firm, a round that underlines both market urgency and investor conviction in sovereign defense tech.

Newcleo — Paris/London/Turin

Born in 2021, Newcleo is developing next-generation nuclear reactors that aim to use reprocessed waste as fuel. The company has steadily attracted large private rounds and, by late 2024, had surpassed €535M raised while moving its HQ to Paris to scale up industrial plans. For Europe’s energy transition, this is one of the most ambitious deep-tech bets.

The Exploration Company — Munich/Bordeaux

Founded in 2021, The Exploration Company (TEC) is building Nyx, a reusable European space capsule. In November 2024 it secured a ~$160M Series B co-led by Balderton and Plural, one of Europe’s largest space Series B rounds, to accelerate development and missions. Space is getting a European champion with speed and hardware discipline.

What founders can learn

• Focus wins. Each company picked a clear wedge and executed relentlessly.

• Partnerships compound growth. Industrial and government alliances turned momentum into scale.

• Europe can go big. These rounds show that capital now backs ambitious, technically hard ideas.

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