Final yr the listing of fastest-growing tech startups in Europe was dominated by speedy grocery and ecommerce corporations. After a tumultuous 12 months in European tech, the tables have turned.
None of Europe’s fastest-growing corporations reached the extent of progress seen on this listing final yr, when speedy grocery firm Flink topped the listing with headcount progress of 1,232%. There are additionally much more shopper and local weather tech corporations on the listing this yr.
Under are European tech’s prime 10 fastest-growing corporations in 2022, primarily based on information from Dealroom.
We’re measuring progress primarily based on how rapidly corporations have employed throughout the yr. To keep away from the outcomes being skewed by small groups making a lot of hires, we’ve targeted completely on corporations which have raised greater than €50m in complete.
1/ Ultraleap
Little-known British startup Ultraleap was this yr’s fastest-growing startup by headcount. It grew 1,079%, from 12 workers in February 2022 to 165 workers by the tip of the yr.
It’s growing futuristic display know-how, and introduced a £60m Sequence D spherical in November final yr, presumably one the explanations for this yr’s soar in headcount. That spherical got here from Tencent, IP Group, Mayfair Fairness Companions and British Affected person Capital.
Based: 2013
HQ: Bristol, UK
Crew progress this yr: 1,079% to 165 workers
Whole funding: $166m
2/ Nothing
Nothing, the hyped London-based startup constructing earphones and smartphones to attempt to rival the largest names within the enterprise, grew by 912% this yr, to only over 3,000 workers.
It’s first cellphone — billed by founder Carl Pei because the “probably the most compelling different to Apple”, launched in July this yr.
Based: 2020
HQ: London
Crew progress this yr: 912% to three,148 workers
Whole funding: $342m
3/ Yokoy
Swiss fintech Yokoy grew by 613% this yr. It sits within the in style SME spend administration sector, competing with corporations like Pleo, Soldo and Payhawk. It makes use of AI to automate spend administration, combining bills and company playing cards into one platform.
Yokoy raised an $80m Sequence B earlier this yr, led by Sequoia, and now plans to broaden past its present markets of Switzerland, Germany and Austria.
Based: 2019
HQ: Zurich
Crew progress this yr: 613% to 221 workers
Whole funding: $108m
4/ Polarium
The primary entry on the listing from the local weather tech world is Sweden’s Polarium, which grew its headcount by 521% this yr.
It makes lithium batteries that cut back the prices and environmental footprint of power storage. Its batteries are totally recyclable and lose a lot much less power than different batteries available on the market. The tech is utilized in telecommunications, electrical automobiles and solar energy.
The corporate turned one in every of Europe’s deeptech unicorns in Could this yr, when it raised near $100m.
Based: 2015
HQ: Stockholm
Crew progress this yr: 521% to 298 workers
Whole funding: $147m
5/ Borzo
Borzo runs a courier service, and its gig financial system workforce delivers by way of any route, transport, bundle measurement or weight. It was based in Russia and is now headquartered in Amsterdam. Its headcount grew by 435% this yr.
Based: 2012
HQ: Amsterdam
Crew progress this yr: 435% to 909 workers
Whole funding: $57.6m
6/ 5ire
London-headquartered 5ire launched in November 2021 and has already secured a $1.5bn valuation. The corporate is constructing a sustainable blockchain, aiming to fight criticism that the trade is simply too power intensive.
5ire secured a $100m Sequence A spherical earlier this yr from UK conglomerate Sram and Mram.
Based: 2021
HQ: London
Crew progress this yr: 364% to 116 workers
Whole funding: $121m
7/ DNA Funds
Fintech agency DNA Funds helps companies obtain funds in individual or on-line. It raised a £100m spherical from Alchemy Companions in 2021 and has grown its headcount by 359% this yr, to just about 200 workers.
Based: 2017
HQ: London
Crew progress this yr: 359% to 188 workers
Whole funding: $132m
8/ Payhawk
Bulgarian fintech Payhawk runs a B2B platform that gives monetary departments a single place to handle your entire spending life-style from firm playing cards and bills to payments and invoices. It has grown its headcount by 299% this yr, to 271 workers.
Payhawk raised a $115m Sequence B spherical on the finish of final yr — the second largest Sequence B for an Japanese European B2B firm since UiPath. It then raised a further $100m early in 2022, turning into Bulgaria’s first unicorn.
Based: 2018
HQ: Sofia
Crew progress this yr: 299% to 271 workers
Whole funding: $236m
9/ Dune Analytics
Dune Analytics is an open-source, Ethereum-based information analytics platform that permits anybody to run information queries. It’s obtainable without cost after which has a paid subscription that permits folks to analyse customised information units. It’s run out of Norway, and has grown its headcount by 280% this yr, from 16 workers in January to 57 by the tip of the yr.
Based: 2018
HQ: Oslo
Crew progress this yr: 280% to 57 workers
Whole funding: $79.4m
10/ Volta Vehicles
Swedish electrical truck maker Volta Vehicles is the one firm from final yr’s listing to nonetheless be on it 12 months later. It noticed its headcount develop 280% in 2022. Volta Vehicles has launched a purpose-built 16-tonne electrical truck that may drive as much as 200km on a single cost.
Based: 2019
HQ: Stockholm
Crew progress this yr: 271% to 568 workers
Whole funding: $385m
The information for this listing was pulled on December 1.
Freya Pratty is a senior reporter at Sifted. She tweets from @FPratty and writes our local weather tech e-newsletter — you may join right here.
