Protechbro highlights a few of Europe’s top AI startups at the moment
We look at some European AI firms that are growing the quickest and using this technology to change several industries’ business environments.
As AI advances quickly and gains more traction, more and more firms are emerging to create novel applications for the technology.
Massive enterprises, such as Anthropic and OpenAI, were founded from the ground up and now have access to significant financing and industry-leading alliances to develop the technology. These young businesses take advantage of AI’s capabilities to meet the growing need for technology and modify it to promote innovation worldwide.
In light of this, Protechbro is currently investigating a few of the top AI startups operating in Europe.
10. Transmetrics
- Founder/s: Asparuh Koev
- Funding total: $8.11 million
Transmetrics, a Bulgarian company, was created to streamline the supply chain. By utilizing AI, machine learning, and predictive analytics, it seeks to enhance asset management and logistical planning.
Its method analyzes, models and forecasts transport flows by autonomously extracting data and utilizing AI techniques. The insights can resolve supply chain issues in various industries, such as fleet maintenance, linehaul scheduling, and empty container management while saving time and money.
9. PhysicsX:
- Founder/s: Robin Tuluie, PhD
- Year of founding: 2019
- Funding total: US$32 million
PhysicsX uses generative artificial intelligence (Gen AI) to transform engineering in essential industries like materials production, automotive, aerospace, and renewable energy. The company is currently developing simulation and artificial intelligence (AI) technologies to reimagine the functionality and design of devices and machinery.
The business is also focused on using AI to address how applications affect human health and the climate. Industry titans like Standard Investment, NGP Energy, and Radius Capital are among its investors.
8. Aleph Alpha
- Founder/s: Jonas Andrulis and Samuel Weinbach
- Year of founding: 2019
- Funding total: $500 million
Aleph Alpha, a German startup, provides a platform to assist in developing Gen AI research and tools for companies and governments. The technologies include the capacity to adapt systems to the requirements of specialized contexts and large language models (LLMs) that have been trained in five languages.
Professionals with backgrounds at prestigious companies like Apple, SAP, and Deloitte established Aleph Alpha. The company aims to increase efficiency and foster innovation by integrating AI into platforms and applications across various enterprise sectors.
The organization received investment in June 2023 from major technological businesses, including SAP SE, Earlybird Venture Capital, and global chipmaker Nvidia.
7. TechWolf
- Founder/s: Mikaël Wornoo, Andreas De Neve and Jeroen Van Hautte
- Year of founding: 2018
- Funding total: $12 million
Businesses may become more skills-based using TechWolf, an AI-based HR technology solution. It seeks to provide companies with the instruments required to tackle novel and intricate challenges across their operations.
Its Skill Engine tool integrates current systems via an application programming interface (API)- the first approach- and uses artificial intelligence (AI) to drive skills intelligence. This allows employers to obtain a fast, unbiased perspective of their workforce’s skills and skill gaps in less than eight weeks.
6. Endel
- Founder/s: Oleg Stavitsky, Protey Temen, Philipp Petrenko, Dmitry Evgrafov, Kirill Bulatsev, Dmitry Bezugly
- Year of founding: 2018
- Funding total: US $21.1m
A commercial generative music app called Endel tailors soundscapes to the user’s activity. In addition to responding to the time of day, weather, heart rate, and location to create unique compositions, the app offers preset settings for relaxation, attention, sleep, and movement.
The business produces “personalized functional soundscapes” using a cross-platform AI-powered app ecosystem. Endel, a German startup based in Berlin, acquired $15 million in Series B funding in 2022.
5. Graphcore
- Founder/s: Nigel Toon, Simon Knowles
- Established in 2016
- Funding total: US$2.8 billion in total valuation
Graphcore Limited is a British semiconductor firm that creates machine learning and artificial intelligence accelerators. Thanks to the introduction of a massively parallel Intelligence Processing Unit (IPU), the entire machine learning model is stored inside the CPU.
Using AI applications, the company’s IPU technology seeks to revolutionize several economic sectors and advance societal goals, including decarbonization and improved medicine development.
With the addition of US$222 million in Series E funding in 2020, Graphcore is currently valued at US$2.8 billion.
4. Stability.ai
- Founder/s: Mohammad Emad Mostaque
- Year of founding: 2019
- Funding total: US$101 million
Stability.ai is a prominent open-source Gen AI company globally. It seeks to provide groundbreaking, freely available AI models in language, code, audio, and imaging that require the fewest resources.
Stability.ai has a distinct vision and approach to AI. It is open and strives to democratize AI and create a worldwide basis to realize humanity’s greatest potential. With AI, it seeks to promote a culture of openness, honesty, creativity, and integrity.
The London-based business is currently among the top AI startups in Europe. In 2022, it became a unicorn after reaching a US$1 billion valuation.
3. DeepL
- Founder/s: Dr. Jaroslaw “Jarek” Kutylowski
- Established in 2009
- Funding total: $100 million
German company DeepL SE owns the neural machine translation service DeepL Translator, which debuted in August 2017. In January 2023, the real-time language translation program received US$106 million in funding—including support from Atomico, Bessemer Venture Partners, and Institutional Venture Partners—and achieved unicorn status.
The application uses artificial neural networks trained on millions of translated texts to translate documents. To help their network attain a higher translation quality, their authors have placed a significant deal of emphasis on the targeted acquisition of special training data.
2. Mistral AI
- Founder/s: Arthur Mensch, Guillaume Lample and Timothée Lacroix.
- Year of founding: 2023
- Funding total: US$2 billion in total valuation
The French Gen AI model manufacturer Mistral AI gained notoriety in June 2023 when it raised €105 million (US$112 million) in a seed round from investors including Index Ventures, Headline, Lightspeed Venture Partners, and Bpifrance.
To promote AI, the organization has formed a number of noteworthy corporate alliances. In March 2024, it partnered with Snowflake to democratize access to the technology. To enable safer Gen AI technologies, both organizations are striving to provide businesses with industry-leading AI language models.
Customers may safely use Mistral AI’s most recent and potent model, Mistral Large, with their enterprise data to create apps fast and simply through the Snowflake Data Cloud.
1. Synthesia
- Founder/s: Victor Riparbelli, Steffen Tjerrild, Matthias Niessner, Lourdes Agapito
- Established in 2017
- Funding total: US$157 million
The synthetic media-generating platform Synthesia aims to use AI to democratize video creation. With text inputs and a quick actor sample film, users of the video maker can construct talking head videos or avatars.
With the help of its Gen AI tools, founded in 2017 by a group of AI academics and entrepreneurs, anyone can create video content without needing studios, cameras, or microphones. It is intended to permanently unlock human creativity and fundamentally alter the content creation process.
Reuters, Accenture, Amazon, Tiffany & Co., IHG Hotels & Resorts, and the British Broadcasting Corporation are just a few companies that use this London-based platform. In June 2023, the company achieved unicorn business status after surpassing the US$1 billion valuation threshold.
