Almost 80 European deep tech university spinouts reached $1B valuations or $100M in revenue in 2025

In 2025, nearly 80 European deep tech and life sciences university spinouts achieved significant milestones, reaching either $1 billion valuations or $100 million in revenue, collectively representing a startup funnel valued at $398 billion. Notable unicorns such as Iceye, IQM, Isar Aerospace, Synthesia, and Tekever exemplify this success, attracting increasing venture capital (VC) interest. New funds like PSV Hafnium, focused on Nordic deep tech and backed by the Technical University of Denmark, have emerged alongside established firms, broadening investment opportunities beyond traditional hubs like Cambridge, Oxford, and ETH Zurich. This diversification reflects a maturing ecosystem where both university-backed and independent venture firms prioritize spinouts as key investment targets. Despite a nearly 50% decline in overall European VC funding since 2021, university spinouts are on track to raise a near-record $9.1 billion in 2025, underscoring strong investor appetite for innovation in sectors including nuclear energy and dual