Found.ation has released its the Startups in Greece Report for the eighth consecutive year, in collaboration with EIT Digital.
Over €555M was invested in more than 90 Greek startups in 2024, with15 percent growth compared to the previous year. In contrast, European markets saw a 5 percent decline. The country contains over 30 funds.
Aligning with global innovation trends, the most funded sectors in 2024 include artificial intelligence, biotechnology, and health technologies.
Female founders account for only 24 percent of startups, with a dedicated section in collaboration with WE LEAD to improve the figures. Female representation in VC remains low, with women founders accounting for only 24% of startups.
In terms of exits, the acquisition of BETA CAE Systems for $1.24B marked the largest tech exit for a Greek company. However, only one additional exit was recorded this year.
Greek Viva Wallet retains its unicorn status, while Blueground nears the milestone. The top-funded companies are valued between €4.9 billion and €6.5 billion, representing nearly 60 percent of the ecosystem’s total value.
“With a larger financial base, strategic partner ships, and funds focused on sustainable growth, Greece’s VC/PE landscape now has the resources to help companies scale from promising ventures into established players. This progress positions Greece as one of the most promising hubs for innovation and entrepreneurship in the region." noted Prof. Haris Lambropoulos, President, HDBI S.A. and Antigoni Lymperopoulou, Chief Executive Officer, HDBI S.A.
Federico Menna, CEO EIT Digital, stated: “Greek startups have been particularly active in areas like digital health, fintech agritech, robotics, and maritime technology. However, like many emerging European ecosystems, Greece’s startups face several challenges, especially when it comes to early stage funding and regulatory barriers."
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