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Why European founders are burning out
Founders’ mental health is degrading in Europe, the founder who burnt out as his startup collapsed, and more...
SearchVentures
March 26, 2025
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Founder Burnout Is Growing
Nearly all European founders faced mental health challenges last year as the startup ecosystem becomes increasingly demanding and unstable.
What’s causing this widespread founder burnout?
This Week’s Trends
Founders are facing mental health issues
The startup that broke its founder
The €200 million French fund and more
Read Time 3 minutes
The Startup Trend
Founders are facing mental health issues
The data highlights that 94% of European founders have experienced mental health issues in the last twelve months, stress being the most common factor.
> The top stressors cited were a difficult fundraising landscape, poor work-life balance, and challenges in retaining customers.
> Most founders surveyed run early-stage startups: 35% seed, 28% bootstrapped, 25% pre-seed, 7% Series A—majority had raised capital within the last 6 months.
💡 Climate tech founders were the worst off, with 63% in ‘bad’ or ‘very bad’ condition due to investor fatigue, energy costs, and inflation pressures.
Startup Feature
The Startup That Broke Its Founder
The founders of Easee
Jonas Helmikstøl built Easee into one of Europe’s fastest-growing climate tech startups. In 2022, the EV charging startup had a valuation of €840 million and was the most valuable startup in Norway. But less than a year later, its valuation crashed by 97 percent after regulatory bans, safety violations, and mass layoffs halted its growth.
As Helmikstøl scrambled to save the business, the pressure took its toll. In 2023, he stepped down, admitting the collapse had pushed him to the edge of burnout.
“I was so exhausted after all the years of growing the company. I could barely breathe and at times I was in so much pain that I thought I would die.”
Pushing the Limits
Easee was founded in 2018 with an aim to make smart, compact EV chargers for homes and businesses. Backed by Norway’s green energy push, the startup scaled quickly across Europe and grew to more than 500 employees. By 2022, Easee had installed over 600,000 chargers and was nearing a billion dollar valuation.
But after a period of hypergrowth, problems began to surface. In early 2023, Sweden banned the sale of its chargers due to safety certification issues. Several other European markets followed with investigations and product reviews. Demand stalled and trust fell fast. The startup laid off more than half of its team, and its once high-flying valuation quickly unraveled.
Leading through that collapse took a toll. Helmikstøl, who had been at the center of its rise, stepped down as CEO and took medical leave after publicly sharing his experience with burnout.
“Everything happened so fast. I didn’t stop to check in with myself. Eventually, my body forced me to stop.”
What Happens After the Burnout
Easee’s story shows how fast growth and high expectations can push founders beyond their limits. The pressure to lead, raise capital, expand markets and deliver results can break down even the most driven entrepreneurs.
Helmikstøl’s decision to step back opened a rare window into the mental toll startup founders often face behind the scenes. With Easee’s future still uncertain, the story has become part of a broader conversation in Europe’s tech scene about sustainable leadership and the cost of building fast.
“I thought I could handle it all, but I didn’t realize how much it was costing me until it was too late.”
Easee is now focused on stabilizing operations. With a reduced team and new leadership in place, the startup is working to restore trust and resume growth in its main markets. Co-founders Joachim Veland and Kjetil Larsen remain with the company, while Jonas Helmikstøl is still on medical leave but has begun sharing updates on his recovery.
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Headline News
This Week In Startups ✍️
Founders
> Camgraphic, a Cambridge-based photonics startup, has raised a €25 million Series A led by the NATO Innovation Fund (NIF) .
> Differential Bio, a Munich-based startup, emerged from stealth today with €2 million in pre-seed funding to redefine biomanufacturing.
> Soldera, a startup that streamlines renewable energy certification in Europe, has raised a €2.5 million funding round Finnish venture capital firm Lifeline Ventures.
Investors & VCs
> Daphni, a French venture capital firm known for backing AI company H and quantum startup Pasqal, has closed its third fund, securing €200 million.
> THENA Capital, a London-based venture capital firm investing in early-stage medical technology, has officially launched its Fund I with a first close at £27 million.
> Elbow Beach, one of the UK’s most active specialist climate impact seed investors, has achieved the first close of its second fund at £63 million.
Cheers,
Odin Lund & Hari Mohandas
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