The State of European Tech 2022 & Ukraine in the spotlight

VC firm Atomico, in partnership with Orrick, Lazard, SVB, Slush releases its annual report on the State of European Tech.The eighth annual State of European Tech, which this year is centred on “The Path Ahead” is one of the most trusted resources in the tech ecosystem, with valuable insights on all things tech; from venture investment to the real story on diversity (and everything in-between).

Key numbers 2022 and highlights:
  • 166K startups,
  • 2.6M startup employees,
  • $2.7T ecosystem value
  • Tech investment projected to reach $85bn (17.5% decrease), but the 2022 total is still more than the totals of 2019 and 2020 put together (= around $81 billion).
  • In the first half of 2022, there were a total of 133 funding rounds equal to or exceeding $100 million. H2 2022 is on track to fall far short of these numbers if Q4 continues in line with Q3’s investment levels – with only 37 rounds of this magnitude so far.
  • Europe birthed more than 100 unicorns last year, but 2022 looks downright brutal in comparison, with only just north of 30 accounted for.

The report also includes the “Ukraine in the spotlight ” chapter, created with support of TechUkraine team, Horizon Capital, Ministry of Digital Tranformation, and shed a light on:

  • Tech’s ability to foster resilient economies
  • Star Ukrainian unicorns and the role they have played in defence efforts
  • Tech as a force for rebuilding, both now and once peace is won


  • Startups: Ajax Systems, Reface, Respeecher, Mate academy, MacPaw, Esper Bionics, Readdle, Restream and other
  • Ukrainian VCs: SID Venture Partners, Flyer One Ventures, Ukrainian Startup Fund, Geek Ventures, uventures, etc
  • International VCs: ff Venture Capital, Inovo Venture Partners, Seier Capital, Blue Lake, etc
  • Mykhailo Fedorov, Nataly Veremeeva, Vasile Tofan comments.

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