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European funding overtaken by just 7 companies
The mag 7 invested more in startups than Europe, the Google-backed Danish startup turns pollution into product, and more...
SearchVentures
April 23, 2025
European VCs overtaken by just 7 companies
Seven American companies (Nvidia, Amazon, Apple, Meta, Microsoft, Google, and Tesla) invested more in startups last year than all the European VCs combined.
What is causing this discrepancy?
This Week’s Trends
7 companies invested more in startups than Europe
How U.S-backed Again is turning pollution into product
Fastest-growing startup raises $19M seed round and more
Read Time 3 minutes
The Startup Trend
The mag 7 overtaking major economies
The magnificent 7 invested $49 billion in startups in 2024, surpassing China ($38 billion), the UK ($16 billion), and the entire European VC ecosystem ($45 billion).
> This reflects a deeper economic shift with 24% of all U.S. jobs now at VC-backed companies, compared to under 2% in Europe.
> Even in public markets, $30 trillion of the S&P 500’s $46 trillion value comes from VC-backed firms compared to only $2 trillion of The Stoxx Europe’s $15 trillion value.
“Europe doesn't have a startup or scaleup problem. Europe has a momentum problem. And we can only fix this on a pan-European level.”
Startup Feature
How Again Caught the Attention of Google Ventures
Co-founders Dr Torbjørn Ølshøj Jensen and Maximilian Kufner
Again is a Copenhagen-based climate startup turning industrial emissions into materials that can be reused in everyday products. Instead of storing or offsetting CO2, the startup captures it at the source and converts it into acetate, a compound used in packaging, textiles, and other manufacturing sectors.
The climate infrastructure startup was recently backed by Google Ventures, which led its $43 million Series A. It has now become part of a growing group of European startups getting funding from the biggest companies in U.S. tech.
Turning Pollution Into Product
Founded in 2022 by Emil Højbjerg, Rune Christensen, and Thibault Cantat, Again is part of a new generation of industrial climate startups using carbon as an input, not just a byproduct.
Rather than capturing CO2 and sending it for long-term storage, Again installs modular units directly at manufacturing facilities. These systems extract emissions from chimneys and convert them into acetate on-site. This decentralized model offers a faster path to compliance and carbon reduction, while giving manufacturers a material they can resell or reuse.
The startup proved its approach in a pilot project in Denmark and is now scaling up with its first commercial site in Texas through a partnership with HELM AG. Full-scale production is expected to begin later in 2025.
“Our technology makes it possible to treat emissions as a resource instead of waste. That changes the economics of decarbonization.”
Again earns revenue through long-term supply agreements and licensing deals with manufacturers. Its approach combines measurable emissions reduction with clear economic value, making it attractive to both regulators and industrial clients.
U.S. Capital Is Chasing Europe’s Climate Tech
The investment from Google Ventures reflects a broader trend in climate tech. As demand grows for real-world decarbonization tools, US investors are increasingly looking to Europe for early-stage solutions with industrial applications.
Europe offers the right conditions. Strong regulatory incentives, a dense industrial network, and growing pressure to meet emission targets have turned the region into a proving ground for climate infrastructure.
Startups like Again are well positioned because they can deliver impact that aligns with both environmental goals and commercial outcomes.
“Our goal is to prove that climate infrastructure can be both low friction and high impact without becoming a trade-off.”
While its valuation has not been disclosed, investors close to the deal say Again is now among the most valuable early-stage climate startups in the Nordics. With production set to begin in Texas and new partnerships underway, the startup is moving fast to show that emissions can power a new kind of industrial economy where carbon becomes part of the solution.
Sponsored by Ryse
Is this startup the next billion dollar buyout?
Imagine investing in Ring before its $1.2B buyout by Amazon
Or Nest, before Google's $3.2B acquisition.
By the time we hear about industry-changing companies, it’s usually too late. But right now, there’s a smart home startup making their way to homes in America. This tech startup is RYSE, and unlike Ring, you can still invest before their $1.90 round closes May 30.
Like how Ring disrupted home security, this company is revolutionizing smart blinds & shades.
With $10M+ in revenue, 200% YoY growth, and sold in 127 Best Buy stores, they are primed for massive expansion and forecast 5X in revenue this year.
Past performance is not indicative of future results. Email may contain forward-looking statements. See US Offering for details. Informational purposes only.
Headline News
This Week In Startups ✍️
Founders
> Lace AI, a Bulgarian revenue intelligence platform with a staggering 1,000 percent growth in 2024, has raised a whopping $19 million in Seed funding.
> Froda, a Swedish lending startup, has raised a €20 million Series B round which it will use to drive European expansion. The round was led by Incore Invest
> mirSense, a Paris-based deeptech startup, has secured €7 million in Series A funding to accelerate the industrialization of its quantum cascade laser technology.
Investors & VCs
> KOMPAS VC, an early-stage venture capital firm focused on industrial technology, has announced the €150 million closing of its second fund.
> Atlantic Vantage Point (AVP), previously known as AXA Venture Partners, is launching a first-time €1.5 billion late-stage VC fund.
> Wind, a European venture capital firm built and backed by entrepreneurs, has secured a €30 million commitment from the European Investment Fund (EIF).
Cheers,
Odin Lund & Hari Mohandas
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