AI startups lead in Viva Technology list of Europe's top 100

Viva Technology has released its first annual ranking of the Top 100 Rising European Startups for 2025, spotlighting young companies considered to have the potential to transform their respective industries.

The ranking, which surveyed businesses across 22 sectors including defence technology, fintech, educational technology and medical technology, features startups headquartered in 13 European countries. Germany leads with 36 companies, followed by France with 22 and the United Kingdom with 17.

This year's list reveals a significant presence from artificial intelligence (AI) companies, which cover areas such as AI agents, language models, and middleware and tooling solutions. There are 15 startups represented in the AI category, including UK-based ElevenLabs, which builds AI audio tools designed for businesses, media and creators. ElevenLabs aims to develop a platform that advances AI audio intelligence and makes information accessible in any voice, language or sound.

Other highlighted startups include La Vie from France, which produces plant-based meat using a patented fat recipe, and Futura from Italy, which offers personalised learning through a data-driven approach and adaptable modular classes. Aqemia, also from France, develops a drug discovery platform designed to identify new treatments for specific therapeutic targets.

The three sectors with the greatest representation in the ranking are AI, developer tooling and fintech. According to François Bitouzet, Managing Director of Viva Technology: "The Top 100 Rising European Startups reflects the degree of maturity reached by the European tech ecosystem. Artificial intelligence, now at the heart of all industries - cybersecurity, defence, logistics and supply chain - demonstrates Europe's ability to innovate on technological and strategic issues, with a long-term vision. This dynamic confirms that Europe is no longer just an area for growth, but a real laboratory for technological and societal transformation."

In addition to sectoral representation, the ranking highlights six key trends expected to shape European innovation in 2025. In fintech, the rise of Banking-as-a-Service is marked by companies such as Flatpay (Denmark) and Capi Money (UK), while financial management platforms including Payflow (Spain) and Pennylane (France) were also noted. Logistics and supply chain management are increasingly utilising AI, with startups like Prewave (Austria) anticipating risks and companies such as Mercanis and Packmatic (Germany) automating purchasing and supplier management processes.

Cybersecurity and defence technology are identified as strategic fields for digital sovereignty, with companies like Filigran (France) and Helsing (Germany) active in the space. Climate technology is also a focus despite what is described as a slowdown in environmental, social and governance investments, with efforts such as building electrification (1KOMMA5°, Germany), decentralised energy networks (UrbanChain, UK) and decarbonisation solutions (Treefera, UK) being highlighted.

The biotechnology and health technology sectors are seeing the application of AI to advance medical research. Notable companies in these areas include Causaly (UK) and Aqemia (France). Meanwhile, in the creative industries, AI-powered tools are enabling digital content creation through products such as Photoroom (France) and Kittl (Germany).

The selection process for the Top 100 involved input from five global investment funds: Accel, Eurazeo, HV Capital, Northzone and Partech. To qualify, startups were required to have their headquarters in Europe, present an industry-transforming innovation, report a minimum of EUR €5 million in annual recurring revenue in 2024, and demonstrate annual growth rates of at least 40 per cent over the past three years.

The selected startups will participate in a tailor-made acceleration programme and will be offered various networking opportunities as part of their involvement in Viva Technology.