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As a burgeoning hub in Europe for technology and innovation, Austria currently hosts approximately 3,000 startups, with six attaining the prestigious status of "unicorn" – each valued at over $1 billion.
The Austrian startup scene is notably active in sectors such as information technology, life sciences, media, and creative industries. With a tax system favorable to investments and robust support mechanisms like the New Companies Promotion Act and ABA-Invest in Austria, the nation is increasingly appealing to budding entrepreneurs.
Established as Austria’s inaugural unicorn in 2021, BitPanda shines with a valuation of $4.1 billion. This platform revolutionizes cryptocurrency trading, offering a suite of services for buying, selling, and swapping a variety of digital currencies including Bitcoin, Ethereum, and Ripple. Accessible via iOS and Android, BitPanda is a user-friendly gateway to the world of cryptocurrencies, enriched with educational resources and real-time pricing updates. BitPanda is currently headquartered in Vienna, Austria.
Valued at $3.2 billion, GoStudent is transforming the realm of online education. Based in Vienna, this platform facilitates one-on-one tutoring for a wide range of subjects such as Math, English, and Biology. Catering to K-12 students, it connects learners with over 23,000 tutors globally, ensuring personalized educational support.
GoStudent is currently headquartered in Vienna, Ernst-Melchior-Gasse, Austria. The platform’s user-friendly interface is available on Android and iOS, making it accessible to millions of families across Europe.
With headquarters in Vienna and more than 10 locations across Europe, TTTech Auto is at the running front of the autonomous driving industry, offering both software and hardware solutions aimed at enhancing vehicle safety and operational efficiency. Their products include an open integration software platform and essential hardware components like ECUs and display units, positioning them as innovators in driver assistance technology. TTTech Auto is valued at more than $1 billion, based on its last valuation in 2022.
Situated in Salzburg, Copa Data stands out as the region's sole unicorn. They specialize in industrial automation software, serving a diverse clientele across sectors like pharmaceuticals, energy, and automotive. Their flagship zenon Software Platform is a leader in industrial control systems, adaptable to any hardware or software environment, serving over 5,000 clients globally.
Founded in Vienna in 2007 and now headquartered in Austin, Texas, Tricentis is a powerhouse in the software-as-a-service (SaaS) sector with a focus on automating software testing. Their product, Tricentis Tosca, has revolutionized how enterprise development teams approach quality engineering, benefiting from a substantial $165 million Series B funding in 2017.
Their tools are designed to enhance performance and accelerate delivery across IT projects.
Originating from Kollerschlag, Loxone is making strides in smart home technology, boasting automation solutions that enhance building safety, efficiency, and comfort. With over 500 employees and around 100 products developed, Loxone's innovations are now a staple in every fourth new home in Austria, showcasing their growing influence as a leader in intelligent building solutions. In 2022, it has been said that the company is now worth more than $1 billion, further cementing its unicorn status.
Austria's thriving startup ecosystem is not just home to unicorns but also to a group of high-potential startups—soonicorns—set to reach the unicorn threshold in the near future. These companies, characterized by innovation and rapid growth, span diverse sectors from green technology to e-commerce and biotechnology. Let's explore six Austrian startups that are making significant waves across various industries:
Neoom is a new player in the renewable energy revolution, offering integrated solutions for solar power generation and energy management. With headquarters in Freistadt, Austria, their technology enables consumers to produce and store electricity, optimize energy flows, and even trade green electricity. Neoom's holistic approach to sustainable energy solutions positions it as a leader in the green tech sector, contributing to the transition towards a more sustainable future.
So far, Neoom has raised a total funding of $95.1M, and is set to grow even more in the coming years.
Specializing in refurbished electronics, Refurbed is an online marketplace offering a second life to a wide range of devices, from smartphones and laptops to kitchen appliances. This startup not only provides cost-effective tech solutions but also promotes environmental sustainability by reducing electronic waste. With a comprehensive product catalog and a commitment to quality, Refurbed is gearing up to redefine the electronics resale market.
In 2023, Refurbed closed a $57 Million Series C Funding round, with a grand total of $131M over five rounds. They are currently headquartered in Vienna, Austria, but their teams are spread remotely across Europe.
As an online travel agency specializing in tours and activities, TourRadar offers a unique platform for travelers to explore, compare, and book adventure experiences worldwide. Its user-friendly interface allows potential travelers to interact with guides and join community discussions, enhancing the travel planning experience. With the rise of experiential travel, TourRadar is well-positioned to capitalize on this growing trend.
TourRadar has offices in Vienna, Brisbane, and Toronto, and the company was last valued at $200-$300M in 2018.
With offices in Vienna, London, and New York, Adverity is transforming the field of marketing analytics with its cutting-edge platform that integrates disparate data sources into a single, coherent framework. This enables marketers to harness comprehensive insights and uncover hidden correlations, thus optimizing their strategies and campaigns. As businesses increasingly rely on data-driven decision-making, Adverity’s innovative solution is poised for significant growth.
Adverity works with major clients such as Unilever, Publicis, IKEA, Forbes, and others. Its last valuation was $480m.
Vienna-based company Byrd revolutionizes e-commerce logistics through its sophisticated fulfillment network that connects online retailers with international warehouses. This tech-driven solution simplifies the logistics process, offering features like returns management and express shipping, thus enabling retailers to scale globally more efficiently. By optimizing e-commerce operations, Byrd is becoming an indispensable tool for online merchants.
In 2022, Byrd raised €53M in its latest funding round.
Operating in the cutting-edge field of biotechnology, Sarcura is dedicated to advancing cell therapy solutions for various therapeutic areas. Their focus on developing innovative manufacturing systems for personalized cell therapies—using advanced silicon and microfluidic technologies—places them at the forefront of biotech innovation.
Sarcura’s commitment to enhancing the scalability and effectiveness of cell therapies could revolutionize treatment modalities in the medical field. With headquarters in Klosterneuburg, Austria, Sarcura raised $10.5M in funding from nine investors.
These six promising Austrian startups are not just driving innovation in their respective fields; they are also shaping the future of their industries. With their impressive growth trajectories and groundbreaking solutions, they are on the fast track to becoming the next generation of unicorns, marking Austria as a key player in the global tech scene.
