europe ai scaleups report 2016

2016 EUROPEAN

ARTIFICIAL INTELLIGENCE

SCALEUPS REPORT

OMAR MOHOUT

2

03

05

06

31

35

36

37

43

Foreword

Highlights 2016

European AI & Data Analytics Scaleups

Methodology

About the author

About Sirris

Data sources

Disclaimer

TABLE OF CONTENTS

3

2016 EUROPEAN AI & DATA ANALYTICS REPORT FOREWORD

PARTNERS

There are many companies, small and big, trying to get on the Artificial

Intelligence bandwagon. Machine Learning is the new buzz word and AI is the

slang word these days. What does happen in this exiting field in Europe? Is AI

common ground for all businesses or the exclusive territory for a few? Who

has managed to validate a business model for autonomous vehicles or

chatbots? What does data-driven or API-first business models look like?

With this report we want to provide a comprehensive review of investment in

startups and high-growth AI and Data Analytics companies across 22 countries

in Europe. Our aim is to provide data-driven guidance, insights, perspective

and inspiration to stakeholders in the European scaleup ecosystem.

Sincerely,

Omar Mohout

4

This report is part of a series of funding reports,

published both quarterly and yearly. Other

reports complement the series, focusing on

geographical markets and vertical industries such

as the HealthTech report, written in collaboration

with dashplus or the FinTech report in

collaboration with Eggsplore.

2016 EUROPEAN AI & DATA ANALYTICS REPORT ABOUT

This report is a snapshot in time, aimed at

analysing funding data, major trends within the

industry and the regions.

The following technologies are considered:

Artificial Intelligence, Data Analytics, APIs,

Autonomous Vehicles and Chatbots.

Only deals of at least €750K are considered for

this report.

If you would like to provide your input for the

report, signal an omission of data or have any

other feedback, we would love to hear it. Just pop

an email to [email protected]

ABOUT THIS REPORT

http://eepurl.com/b-bu2T

HIGHLIGHTS 2016

5

• € 1.8B across 306 deals in 22 countries;

• UK is leading both in funding and in numberof deals;

• The city with the highest number of deals is London, followed by Paris

and Stockholm;

• Kima Ventures is the most active AI venture fund in Europe;

• Content driven is the most popular business model used by AI and Data

Analytics scaleups;

• No European AI scaleup went IPO in 2016;

• 83% of European AI scaleups are B2B oriented;

• 8 AI based companies raised twice capital in the same year: Recast.AI,

Navya Tech, Kreditech, Aire Labs, Nutmeg, Brainshake, Honeycomb and

Unomaly;

• 6% of founders or CEOs are female in the AI & Data Analytics domain.

2016 EUROPEAN AI & DATA ANALYTICS REPORT HIGHLIGHTS

2016 EUROPEAN

ARTIFICIAL INTELLIGENCE &

DATA ANALYTICS

7

€ 581

€ 278

€ 187

€ 110

€ 101

€ 100

€ 78

€ 72

€ 57

€ 41

€ 37

€ 23

€ 20

€ 18

€ 17

€ 16

UK

France

Germany

Belgium

Ireland

Sweden

Switzerland

Spain

Finland

Serbia

Netherlands

Portugal

Austria

Norway

Italy

Denmark

2016 EUROPEAN AI & DATA ANALYTICS REPORT

AMOUNT RAISED PER COUNTRY IN 2016*

*In millions

UK is leading in the data analytics and artificial

intelligence space, France and Germany are

following. The gap between the UK and

Germany / France is significant.

8

91

53

36

19

18

13

13

12

12

9

7

5

4

2

2

1

UK

France

Germany

Sweden

Belgium

Ireland

Spain

Switzerland

Netherlands

Finland

Italy

Norway

Portugal

Denmark

Serbia

Austria


DEALS PER COUNTRY IN 2016

The number of deals confirms the top positon

for the UK. Smaller countries such as Sweden,

Belgium & Ireland are doing well and are

punching above their economic weight.

European scaleups together raise in average €

147 million per month.

The high peak In October is due 11 deals that are

above € 10M (Navya Tech, Graphcore, Emarsys,

ContentSquare, Dataiku, Feedzai, Chronocam,

ZappiStore, Linkfluence, OpenGamma & Storyful).

4 companies (PayPlug, Uniti, Wealthify and

Storyzy) used crowdfunding to collectively raise

the amount of € 3M.

9

€ 115 € 116

€ 223

€ 155 € 158

€ 186

€ 120

€ 74

€ 112

€ 245

€ 203

€ 61

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.


CAPITAL RAISED IN 2016*

*In millions

10

2325

27

23

19

29

25

20

26

34

37

18

Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.


NUMBER OF DEALS IN 2016

In average 26 deals of at least € 750K are closed in

Europe every month in the artificial intelligence

and data domain.

That’s significant higher than the 9 deals in

average per month for Internet of Things, the 3

deals for Virtual Reality, 1.5 deals for wearables

and 1.25 deals for 3D printing and only 1 deal for

Drone companies.

11

€ 442

€ 310

€ 181

€ 164

€ 114

€ 73

€ 72

€ 61

€ 39

€ 37

AdTech

FinTech

Business Intelligence

HealthTech

Cybersecurity

HRTech

Automotive

Software development

eCommerce

MediaTech


AMOUNT RAISED PER INDUSTRY IN 2016*

*In millions

The top 10 industries count for 85% of all

capital raised.

AdTech (including marketing and sales

automation) is the number one industry that is

driven by data and algorithms.

A good example is Belgium based Showpad

that is implementing Artificial Intelligence in

their sales enabling solution. Or another

Belgian stronghold: SparkCentral, providing

customer service via social channels relying

increasingly on data crunching.

12

71

48

28

28

11

11

11

10

AdTech

FinTech

HealthTech

Business Intelligence

MediaTech

Automotive

Cybersecurity

eCommerce


DEALS PER INDUSTRY IN 2016

Surprising fact: robo-advisor scaleups are just 23%

of the FinTech category.

In fact, only 10 robo-advisor companies raised

collectively €66M in funding: Nutmeg, Scalable

Capital, Cashboard, Ginmon, Pensionera,

Rubicoin, Wealthify, Indexa Capital and Swanest.

Also remarkable: none of them is based in France.

13

37%

25%

19%

7%

4%

3%

3%

2%

Series A

Series C

Series B

Seed

Private Equity

Debt financing

Series D

Series E


DEAL TYPES IN 2016

Public funds7%

Private funds71%

Combination Public/Private

22%

14


AVERAGE FOUNDING YEAR

Finland

Norway

2010

Ireland

France

2011

Sweden

Belgium

UK

Switzerland

Spain

2012

Denmark

Netherlands

Germany

Italy

2013

Portugal

2014

To raise a series A in Europe, an AI or Data

Analytics company needs to be founded in 2012.

It takes in average 4 (long!) years for these type of

companies to raise substantial external financing.

There are exceptions, 15 scaleups are less than

one year old when they received significant

funding.

15

85

77

52

51

49

43

43

40

36

33

30

29

18

Sweden

Ireland

Denmark

Spain

Germany

Belgium

UK

France

Finland

Netherlands

Switzerland

Norway

Italy


AVERAGE NUMBER OF EMPLOYEES

PER COMPANY IN 2016

The number of employees is captured on the

moment of fund raising and based on the press

release, LinkedIn, Xing, Viadeo or the company’s

website.

On average, AI & Data Analytics scaleups have 49

employees.

Chatbot company Babylon Health, raising € 23M

in 2016, has over 150 employees. Klarna, an API-

first company has over 1.000 employees.

The smallest AI company is Elliptic.

1. London

2. Paris

3. Berlin

4. Stockholm

5. Dublin

6. Cambridge

7. Munich

8. Lausanne

9. Barcelona

10. Madrid

1. London

2. Paris

3. Dublin

4. Cambridge

5. Berlin

6. Stockholm

7. Southampton

8. Munich

9. Ghent

10. Madrid

16


ARTIFICIAL INTELLIGENCE CITIES 2016

NUMBER OF DEALS AMOUNT RAISED

London counts for 18% of all AI deals in Europe,

Paris for 12%, Berlin for 7% and Stockholm for

5%.

UK, Germany and Spain have multiple cities in the

top 10 for AI.

17


BREAKDOWN OF THE INDUSTRY

API driven7%

Artificial Intelligence

44%

Autonomous Vehicles

3%

Chatbot1%

Data Analytics45%

83%

17%

B2B B2C

80%

20%

B2B B2C

18


B2B & B2C COMPARISON

NUMBEROF DEALS

AMOUNTRAISED

The European scaleup ecosystem is

predominantly B2B: 83% of all scale-ups are B2B,

that is 25% points more than the overall scale-up

ecosystem.

If the number of deals is taking into account,

Belgium has the highest percentage of B2B

scaleups in Europe. Only 1 Belgian scaleup

deploys B2C activities: robo-advisor Swanest.

19

100% 100% 100% 100%94% 92% 92%

89% 87% 87%

69% 69%

57% 57%

0% 0% 0% 0%6% 8% 8%

11% 13% 13%

31% 31%

43%47%

Netherlands Norway Portugal Denmark Belgium Ireland Switzerland Finland UK France Germany Spain Italy Sweden

B2B

B2C


B2B & B2C NUMBER OF DEALS PER COUNTRY

Top 13 countries

20

65%

20%

10%

5%

Content driven

Marketplace

Crowdsourcing

Open Source


Thanks to Natural language processing, content

driven business models became the leading

business model for scaleups, counting for 65% of

the total.

Examples are AX-Semantics, Blogfoster, Content

Insights, Crowdynews, Echobox, Honeycomb,

Honeycomb, Signal Media, Storyful and Storyzy.

TYPE OF BUSINESS MODELS 2016

21


The most active 2016 venture investor in Europe

for AI is French Kima Ventures from serial

entrepreneur Xavier Niel.

Irish originated Intercom received funding from

Mark Zuckerberg and Jack Dorsey. German credit-

score scaleup Kreditech received funding from

Peter Thiel and the World Bank.

More than 600 funds and business angels made

investments in AI based scaleups last year.

No European AI scaleup went IPO in 2016.

MOST ACTIVE INVESTORS

1. Kima Ventures (France)

2. IBB (Germany)

3. Salesforce Ventures (USA)

4. Ventech (France)

5. Sunstone Capital (Sweden)

6. Notion Capital (UK)

7. IQ Capital (UK)

8. Amadeus Capital Partners (UK)

9. BpiFrance (France)

22


Corporate Venture Capital is involved in 25% of all

European deals and 29% of all capital raised. This

is significant higher than other industries.

The highest corporate investment was € 59M in

Cambridge based Darktrace by Japanese

SoftBank.

CORPORATE VENTURE CAPITAL

INVESTORS IN 2016

1. Salesforce

2. Robert Bosch

3. Intel

4. Alstom

5. Publicis

6. Samsung

7. Axel Springer

8. Schneider Electric

9. Solvay Rhodia

10. SNCF

11. Mitsui

12. Orange

13. Nokia

14. Grupa Pracuj

23


TOP 5 BIGGEST DEALS*

€ 59M € 58M € 44M€ 44M € 40M#01 #02 #03 #04 #05

*In amount raised

MERGERS & ACQUISITIONS BY 2016

FUNDED SCALEUPS

24

• API-first Klarna from Sweden raised € 32M and acquired Cookies App;

• UK based business intelligence company Maru raised € 58M and acquired eDigital Research, a UK-based customer insight company

and the North American business of Vision Critical Research and Consulting;

• French Synthesio raised € 8M and acquired Presentation creator Bunkr in 2017;

• Swiss Lightbend (Software Development), a spin-off from EPFL, raised € 18M and acquired BoldRadius in April 2016.


25

25%

25%

22%

20%

14%

10%

8%

6%

5%

3%

Portugal

Switzerland

Belgium

Norway

Italy

UK

Ireland

France

Sweden

Germany


9% of European AI & Data Analytics scaleups are

spin-offs or spin-outs from universities and

knowledge institutes.

It’s very much in line with the 8% of the scaleups

across all industries. It indicates that AI became

accessible to a large pool of founders.

Even in the Autonomous Vehicles domain, only

one scaleup is a spin-off: BestMile from École

Polytechnique Fédérale de Lausanne.

SPIN-OFFS VS TOTAL TOTAL

BY COUNTRY IN 2016

26


MOST ACTIVE SPIN-OFF INSTITUTES IN 2016

1. University of Cambridge (UK)

2. École Polytechnique Fédérale de Lausanne (Switzerland)

3. KULeuven (Belgium)

4. Imperial College London (UK)

5. University of Antwerp (Belgium)

6. University College Dublin (Ireland)

7. University of Ghent (Belgium)

8. University of Southampton (UK)

9. University of Oxford (UK)

10. University of Coimbra (Italy)

11. Karolinska Institutet (Sweden)

12. University of Nantes (France)

13. Norwegian University of Science and Technology (Norway)

14. University of Pisa (Italy)

15. Rhine-Waal University of Applied Sciences (Germany)

16. Université Pierre et Marie Curie (France)

17. Gdańsk University of Technology (Poland)

27


16% of the European AI scaleups graduated from

an acceleration program. That’s 2% more than

the 14% across all industries.

Program alumni don’t necessary raise more

money, but they are 1.5 years younger on average

when they raise money. It might well be that they

can start to scale earlier or have better access to

investors thanks to acceleration programs.

ACCELERATORS, BY NUMBER OF

FUNDED SCALEUPS IN 2016

1. 500 Startups (USA)

2. imec.iStart (Belgium)

3. StartUp Health (Finland)

4. Paris&Co (France)

5. Level39 (UK)

6. ideaSpace (UK)

7. Seedcamp (UK)

8. Techstars (USA)

9. Entrepreneur First (UK)

10. Y Combinator (USA)

11. Le Hub Bpifrance (France)

28


BREAKDOWN OF FOUNDERS

Female founders/CEOs10%

Male founders/CEOs90%

1 founder36%

2 founders40%

3 founders10%

4 founders7%

5 founders 7%

ADDITIONAL HIGHLIGHTS 2016

29

• The oldest AI company that got funded is Cambridge based Grapeshot. It’s using

advanced probability algorithms to provide data to better target advertising

campaigns and is foundedin 1992;

• 2 French companies got the Gartner Cool Vendor label: Alkemics and

ContentSquare; Synthesio, another French scaleup, received the Forrester Wave

2016 recognition.

• Berlin based B2C FinTech company Clark closed a media-for-equity deal with Axel

Springer;

• Only 3 chatbot scaleups raised significant funding in 2016: Babylon Health, Recast.ai

and Orson.

• Aimotive, a Budapest based Autonomous Vehicle scaleup that received € 6M from

among Robert Bosch among other is a spin-off from Kishonti,a GeoTechcompany;

• 38 AI & Data Analytics scaleups have 100 employees or more employees (such as

Emarsys, Jobandtalent, Black Swan, Darktrace, PatSnap, Unbabel, Showpad, Feedzai,

Nutmeg, Inbenta, Swrve or Onfido);

• London based ET Index, an investor tools to manage carbon risk, got € 1.4M from

the EuropeanCommission;

• French Recast.ai is founded by four alumni from the famous coding school Ecole 42.

It raised€ 1M from the founderof Ecole 42, XavierNiel.


AI SCALEUPS WITH REMARKABLE BUSINESS MODELS OR

TECHNOLOGY

30

• Elliptic: identifies illicit activity on the Bitcoin blockchain using AI (UK, FinTech, €

4.5M);

• Navya Tech: driverless vehicles that move safely without special infrastructure or

human intervention(France, Automotive, € 34M);

• source{d}: recruitment company analyzing open source code contributions to find

talent (Spain, HRTech, € 5.4M);

• Audio Analytic: creating the internet of acoustically intelligent things (UK,

Security,€ 1M);

• Optolexia: Using AI to detect dyslexia in children(Sweden, EdTech, € 1M)

• Gluru: The smart to do list that helps you identify your tasks and suggests the

answers (UK, Business Intelligence, € 2.3M);

• Resolver: a customer complaints platform to raise issues with brands and

companies (UK, ConsumerServices, € 3.1M);

• AX-Semantics: semantic software that creates automatically text content based

on data only - in the quality of a human editor but at the speed of a machine

(Germany, MediaTech,€ 5M);

• Luminance: forensic insight into a company, freeing lawyers to focus on what

matters (UK, LegalTech, € 2.7M);

• Daedalean: Autonomous flight control for the electric personal aircraft of the near

future (Switzerland, Aerospace, € 900K).


EUROPEAN

VENTURE CAPITAL


Click on the above link to access the full dataset

31

https://scaleups.sirris.be/

METHODOLOGY

33

Scaleups, not startups, are generating added value,

create jobs, expand international and create

economic value for stakeholders and society. This

group is attracting the lion share of (venture) capital,

in some countries of up to 90% of all capital. In other

words, we use the Pareto distribution rule to create

an accurate view on the venturing landscape. Only

deals of at least $1M / € 750K are considered.

We encourage you to review the methodology to better understand the

numbers presented in this report. We use a data-driven approach to track

financing activity for European tech companies.

Companies includes web, app, mobile, digital products and services, software,

marketplace, connected hardware, data-driven and HardTech companies.

Companies that have their HQ or launched in Europe are considered.

LifeScience and BioTech (except software solutions targeting this industry),

non digital CleanTech, eCommerce (Hallofresh, Zalando etc) and research

institutes are excluded.

2016 EUROPEAN AI & DATA ANALYTICS REPORT METHODOLOGY

34

Deals with a non-disclosed value or lacking value indication are not counted. If an amount is described as a

seven-figure number, the lowest possible value has been counted. Funding is registered based on

announcement date. All currencies (USD, GBP, CHF, SEK etc) are converted to Euro using aonda.com. The

number of employees is captured on the moment of fund raising and based on the press release, LinkedIn,

Xing, Viadeo or the company’s website.

The founding year and location is based on information in press releases, company website, Crunchbase,

LinkedIn or Xing. If deal information is being detected or corrected after closing the month, quarter or year,

it will be included in future reports. Funding of both private and public companies are considered. Debt

financing, IPOs, media for equity, crowdfunding, Initial Coin Offering, private placements, post IPO equity,

private equity, grants and convertible loans are included.


35

THE CATEGORIES ARE:

Artificial Intelligence, Data Analytics, Autonomous Vehicles, APIs and Chatbots

THE COUNTRIES ARE:

Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Hungary, Iceland, Ireland, Italy,

Netherlands, Norway, Poland, Portugal, Romania, Serbia, Slovakia, Spain, Sweden, Switzerland and UK.


36

OMAR MOHOUT

Omar Mohout, a former technology entrepreneur, is a widely published technology author, C-level advisor

to high growth startups as well as Fortune 500 companies and Professor of Entrepreneurship at the

University of Antwerp, the Antwerp Management School and Solvay Brussels School of Economics and

Management.

He is author of 'Pricing Strategies for Startups', 'The Belgian Startup Landscape', ‘Crowdfunding in Belgium’

and the popular 'Startup Master Class series'. A contributing author to the ‘100 Days Digital Marketing

Plan’ and ‘The Future of Business’ books.

He is Co-chair of the Circle Of Growth; Community host for Corporate Venturing Europe; Organizer of the

Growth Hacking Meetup and Co-founder of the #BeTech Community. He is an active member of the Board

of Directors at Startups.be, BeCentral and serves at the board of high growth technology companies

Aproplan.com and Teamleader.eu.

Mohout is a keynote speaker and panellist on technology, entrepreneurship and innovation topics at

leading conferences.

2016 EUROPEAN AI & DATA ANALYTICS REPORT ABOUT THE AUTHOR

37

Sirris, the collective centre of the Belgian technology industry, helps companies with the implementation

of technological innovations, enabling them to strengthen their competitive position over the long-term.

Sirris helps you make the best technological choice and rapidly turn your innovations into marketable

products and services. The Sirris experts visit companies on site, offer technological advice, launch

innovation paths, and provide guidance to reach the implementation phase. The aim is to find applicable

solutions to the real challenges faced by technology entrepreneurs and startups.

Sirris guides technology companies to a higher level of know-how and expertise in a wide range of

domains. The in-house experts provide a broad range of technological and go-to-market knowledge.

Where necessary, Sirris relies also on external knowledge partners, including specialized companies,

universities, knowledge centres, and research institutions.

For more information on how Sirris can help your company success, please visit www.sirris.be.

2016 EUROPEAN AI & DATA ANALYTICS REPORT ABOUT SIRRIS

38

2016 EUROPEAN AI & DATA ANALYTICS REPORT SOURCES

SPECIAL THANKS

Serkan Ünsal, startups.watch for covering Turkey and Tech.eu for the most detailed coverage of Europe

WEBSITES & NEWSLETTERS

150sec, agfundernews.com, allbrain.org, alliancy.fr, alloweb.org, angellist, arcticstartup, avoltapartners, barcinno, beauhurst, breakit.se, businessinsider.com, calaofinance.com, cbinsights, cityam.com,

cmuportugal.org, coindesk, companisto.com, computable.nl, computable.be, datafox, datanews.be, dealroom, derbrutkasten, deutsche-startups.de, digital.di.se, dn.no, dublinglobe.com, e52.nl,

economyup.it, emeastartups.com, enterprise.cam.ac.uk, eu-startups, finanznachrichten.de, finsmes, fora.ie, frenchweb.fr, funderbeam.com, geektime.com, gigaom.com, GIMV,

globalcorporateventuring.com, noah conference, go4venture.com, goaleurope.com, goodnewsfinland.com, gruenderszene.de, high-tech-gruenderfonds.de, ideaspace.cam.ac.uk, Index.co, itespresso.fr,

ivca.ie, ivc-online.com, journaldunet.com, jvpvc.com, labsoflatvia.com, lesechos.fr, lightwaveonline, linkis.com, loogic, maddyness.com, marketwatch, mattermark, myfrenchstartup.com,

nocamels.com, nordurskautid.is, oresundstartups.com, palico.com, Pando.com, parisandco.com, parkwalkadvisors.com, pehub, pitchbook, portugalstartups.com, prnewswire, regional-it.be,

rudebaguette.com, scotsman.com, seedrs.com, shifter.no, siliconcanals, siliconrepublic.com, spotfolio.com, sprout.nl, startablish.at, startupitalia.eu, startupjuncture, startups.be, startups.co.uk,

startups.watch, startupticker, swedishstartupspace.com, syncni.com, syndicateroom.com, tech.eu, techberlin.com, techcitynews, techCrunch.com, techsite.io, theheureka.com, thetechportal.com,

toftecompany.com, trendingtopics.at, trendsonline.dk, unquote, usine-digitale, vc-europe, wall-street.ro, webcapitalriesgo.com, webrazzi, websummit, widoobiz

SOCIAL MEDIA

Abyssinia, amaigre, atizo, AudingaJa, AudingaJar, austrianstartup, Barcinno, BeTech_, blpoland, boostturku, bot_innovation, Brainport_regio, breakit_se, BridgeBudapest, cdixon, chrysalisleap,

chulu, ClujHub, CowboyGamedevBt, cphftw, csdeptucy, CyprusInno, davidcohen, Digital_Magics, dinaistwitting, DStartups, dublin_startups, dziennik, El_Startupero, Emerce, EndeavorGr,

ericries, etohum, festivaluprise, frontiersci, goodnewsfinland, growthfunders, gruenderszene, health_xl, HelloPirates, hightechcampus, how_to_web, HUB13_Helsinki, hubvilnius, ICTSpring,

ID_GC, ImpactHubBA, ImpactHubRO, impacthubzurich, ineshaeufler, InkubatorStart, inkubatorypl, Innovaspain, InnovAthens, InternetWeekLJ, istanbulstartup, iTXFROM, joonathan, JouveSud,

Kbinkubators, KBinkubators, keskkyla, labsoflatvia, LAUNCHub, Leapfunder,

39

2016 EUROPEAN AI & DATA ANALYTICS REPORT SOURCES

SOCIAL MEDIA (CONT.)

LeumiTech, LisbonChallenge, LOFFICEbudapest, louishavri, LuceyFund, Lupacz, MadeinJLM, marketerslu, MassChallengeUK, masteringrowth, metavallon, miniforetak, MMKlaszter, MusicHackFest,

NCBR_pl, nestholma, NeulogyVC, NewTrendBG, NoCamels, NorthstarVent, OsloInnoEmbassy, placeprint_mktg, ppmessengerpp, ProgramaMinerva, pt_startups, rp_teknoloji, Rubixlab, sama,

saminnovatorene, sbcCopenhagen, SDigestCork, SeedstarsWorld, sektorfuenf, SICampNorway, SiliconLux, siliconvikings, SkatteFUNN, Smart_Ireland, SmartCity4Italy, socialbakers, sprout_nl,

STAkrog, StarCubeCZ, startitup_sk, startup_italia, Startup_Kingdom, Startup_Podcast, StartUpBraga, startupbrett, StartupCampSK, startupestonia, startupgrind_LU, startupiceland, startupireland,

startupjobsite, STARTUPLISBOA, StartupRVK, StartupsBe, startupturkey, startupvcnews, startupyard, StartUscc, stefanlundell, STHLMTech, summitdesignatx, swluxembourg, SwPrivateequity,

Tech_Acad_Fin, tech_eu, TechBritannia, TechHubBuc, TechHubRiga, Technoport_, thecoulroom, thinkubator_dk, timwcap, tyinternety, VC_watcher, venturelab_ch, version2dk, Vienna_CM,

VirginStartUp, webcampzg, webrazzi, whiteboardmag, WHMeanor, ZIPZg, KairosSocietyHU, SitraFund, ForumVirium, Tech_Acad_Fin, ReloadGreece, colabathens, bitspiration, NCBR_pl, blpoland,

dziennik, CyberparkTGB, rp_teknoloji, sosyalmedyaco, IATurkije, czechcrunch, PerpetuumZg, helgosson, StartupGrindSWE, ZuoraEMEA, nyteknik, CampusLondon, growthfunders, VirginStartUp,

MassChallengeUK, CognicityCW, INiTS_at, austrianstartup, IPNunes, SDigestCork, RyanAcademy, , LuceyFund, CrowdfundSpirit, kurtfinance, JouveSud, FuenteLatina, Silicon_wadi, BuildStuffLT,

hightechcampus, HollandFinTech, Leapfunder, IMPACT_acc, ProgramaMinerva, playinglean, , Teknisk, NorskVenture, StartupLabNo, rp_teknoloji, sosyalmedyaco, sbcIstanbul, DLDConference,

VC_watcher, startupradioDE, HTGF_, Lupacz, tyinternety, EconomyUp, SmartCity4Italy, Puglia_Startup, how_to_web, SeedstarsWorld, JeanneMazuret, ParkwalkAdvisor

40

2016 EUROPEAN AI & DATA ANALYTICS REPORT INVESTORS

24Haymarket, 360 Capital Partners, 500 Startups, 50Partners, 5Lion Holdings, 5square, 83North, A11 Venture, Accel, Accion, Accion Venture Lab, Acequia Capital, Acero, ACG, Ackermans & van Haaren,

Acuden Business Angels, Adam Balon, Adara Ventures, Adcock Private Equity, Adeo, Adeyemi Ajao, Aduno Group, AFK Sistema, Air Asia, Albion Ventures, Alexandre Mignon, Alibaba Pictures, Alliance

Capital, Alliance Venture, Allianz, Alma Mundi Innvierte Fund, Alps Capital innovation, Alven Capital, Amadeus Capital Partners, Amazon Alexa Fund, AME Cloud Ventures, Amerigo Venture Fund, Amos

Elliston, Amplify Partners, Amundi, Anaxago, André St-Mleux, Andreas von Bechtolsheim, Andurance Ventures, Andy Phillipps, Ange Basile, Angel CoFund, Angel Source, Angels Den, Antecedent

Ventures, Apposite Capital, Archangel Informal Investments, Ark Angels Activator Fund, Armada Investment, Armilar Venture Partners, Arnaud St-Mleux, Arts&Metiers BA, Ascent Venture Partners,

Asgard Capital, Aster Capital, Atomico, Audacia, Auriga Partners, Aurinvest, AXA Strategic Ventures, Axel Springer, Axel Springer Plug and Play, axeleo, AXM Venture capital, Axon Partners Group, Backed

VC, Bain Capital Ventures, Balderton Capital, Banco Sabadell, Banexi, Bank of Ireland Fund, Barcamper Ventures, Bayern Kapital, Belcube, Ben Holzman, Benchmark Capital, Benjamin Rohé, Benoit

Sillard, Beringea, Bessemer Venture Partners, BGF Ventures, Biover II, Björn Kolbmüller, Blackstone, Bloomberg Beta, Blue Cloud Ventures, Blumberg Capital, BNP Paribas Développement, BOOST&Co,

BpiFrance, Brainchild Holdings, Breizh Angels, Brigitte Mohn, Bristow Group, Bruno Bonnell, b-to-v Partners, Business Growth Fund, C4 Ventures, Cabiedes & Partners, Caixa Capital, Caixa Capital Risc,

Callataÿ & Wouters Ventures, Cambridge Angels, Cambridge Capital Group, Cambridge Innovation Capital, Canaan Partners, CapDecisif Management, CapHorn Invest, Capital Iron, Capnamic Ventures,

Capricorn Venture Partners, Cathay Capital, CEA Investissement, Charlie Songhurst, Chris Liddell, Chris Mairs, Christian Reitberger, Christophe Maire, Cisco Investments, Citi Ventures, Cleantech Invest,

CMC-CIC Innovation, Codecentric, Coface, Committed Capital, Conor Venture Partners, Constanze Buchheim, Convoy, Cor Group, Corvinus Kockázati Tőkealap-kezelő Zrt, Court Westcott, CoVent

Partners, CPH, Creative Edge Ventures, Crédit Industriel et Commercial, Crescent Capital, Cristóbal Conde, Crunchfund, CRV, Cyril Grislain Karray, Cytiholding, Daphni, David Bell, Dawn Capital, Day One

Capital, DB1 Ventures, Delin Capital, Demis Hassabis, Designer Fund, DFO, Digital Currency Group, Digital Space Ventures, DN Capital, Draper Associates, Draper Esprit, duhnhumby Ventures, Earlybird,

EC1 Capital, EC1 Capital Ltd, Edenred Capital Partners, Elaia Partners, Eleven, Embed Capital, Emertec Gestion, EMESA, Endeit Capital, Enisa, Enterprise Ireland, Entrée Capital, Entrepreneur Factory,

Entrepreneur Venture, Episode 1, EQT Ventures, EQT Ventures, Errol Damelin, ESF Capital, ETF Partners, Etienne Reeners, European Commission, eValue, Evolution Equity Partners, Exponential Partners,

Fa Dièse, Faber Ventures, FCRE, Feder, Fides Capital, FinLeap, Finnish Industry Investment, Finnvera, Firestartr, First Fellow Partners, First Round, FirstMark Capital, FJ Labs, Florian Douetteau, Fly

Ventures, Force Over Mass, Forticap, Fortino, Foundation Capital, Founders Fund, Founders Global Capital, F-Prime Capital Partners, Francis Nappez, Francois Enaud, Frontline Ventures, Frumtak, FSE,

fundedbyme, FundersClub, Galeo Ventures, Galvanise Capital, GECAD, Gemma Frisius Fund, German Media Pool, German Startups Group, Gero Decker, GIMV, Giving Wings, Go Beyond Investing, GO

Capital, Goldman Sachs, Gravitation, Greg Kidd, Group MC, Group8, Grupa Pracuj, Guibor, Hambro Perks, Harbert European Growth,

41


Harbert European Growth Partners, Harri Tilev, Harvard Business School Alumni Angels , Hearst Ventures, Heilemann Ventures, henQ, Hi Inov, Highland Europe, Highland Europe, High-Tech

Gründerfonds, HitFox, Holmgren, Holtzbrinck Ventures, Hoxton Ventures, HPE Growth Capital, HSBC, Hummingbird Ventures, IA Ventures, IAD, IBB, iBionext, ICAP, Iconiq Capital, IDG Capital Partners,

IDinvest Partners, Illuminate Financial Management, Imperial Innovations, Index Ventures, Industrifonden, Infosys, INKEF Capital, Innovacom, Innovation Fund, Insight Venture Partners, Intel Capital,

Intermedia, International Finance Corporation, Internet Attitude, Inventure, Inventures, Inveready, Inversur, Invest NI, Invest4OncoDNA, Investinor, Invoke Capital, IP Group, IPG, IQ Capital, Iris Capital,

Isai, Italian Angels for Growth (IAG), iVision, J.C. Flowers, Jack Dorsey, Jackson Square Ventures, Jacques-Antoine Granjon, James Hilton, James Solyom, Jan Schillebeeckx, Jason Fried, Jean-David Blanc,

Jenny Haeg, Jetstream Capital, Johan Lorenzen, John Collison, John Lazar, John Patrick, John Spearman, JOIN Capital, JOLT Capital, Jon Claydon, Jon Wright, Jonathan Milner, Julien Hervouët, Jürgen

Ingels, Justin Ziegler, Karmijn Kapitaal, Keadyn, Keolis, Kick Club, Kima Ventures, Kima Ventures, Kindred, Kinnevik, KKR, Kompass International, Korys, Kreaxi, Kreos Capital, KRW Schindler, Kryssen

Capital, Kulczyk Investments, Kustaa Piha, Länsförsäkringar, LDV Capital, Lerer-Hippeau Ventures, Lightning Capital, Liquid2 Ventures, Littlerock, LocalGlobe, LocalGlobe, Longwall Ventures, Longworth

Venture Partners, Lowercase Capital, LRJ Capital, LRM, LSIF, Luc Vauterin, Ludwig Pettersson, Luis M. Viceira, Lumia Capital, M Capital Partners, Main Capital, Mangrove Capital Partners, Marc Beuls,

Marc Verstaen, Marcos Val, Mark Zuckerberg, Martina Weiner, Mel Morris, MenschDanke Capital, Metamorphic Ventures, Metsola Ventures, MGO Digital Ventures, Michael Schmitt, Mikael Solberg,

Mitsui, MMC Ventures, Mobeus Equity Partners, Mobile Ventures, Momenta Partners, Monk’s Hill Ventures, Monkfish Equity, Mosaic Ventures, Motu Ventures, MPGI, Müller Medien Group, Mustafa

Suleyman, Muzungu Capital, Nadav Rosenberg, Nauta Capital, NAXICAP Partners, NBM fund, Nesta Impact Investments, Nestadio , NEVEQ, New Enterprise Associates, NewAlpha, Newfund, News Corp,

Next Fifteen, NextLaw Labs, NFT ventures, NIAB, Nicolas Berggruen, Nigel Wray, Nils F. Gläser , Noaber, Nokia Growth Partners, Nordea, Norselab, Norsk Innovasjonskapital, Northgate Capital, Northstar

Ventures, Norvestia Growth Equity, Notion Capital, NovelTmT, NWZ Digital, Oak HC/FT, Octopus Ventures, Odyssée Venture, Oleg Tscheltzoff, Omidyar Network, Omnes Capital, Open Ocean Capital,

OpenOcean, Optimizer Invest, Orkos Capital, Orza, Othman Laraki, Otium Venture, Oxford Capital, Oxford Sciences Innovation, Paladin Capital Group, Pamica, Par Equity, Paris BA, Parkwalk Advisors,

Partech Ventures, Passion Capital, Patrice Thiry, Patrick Benoît, Patrick Collison, Paul Foster, Paul Schwarzenholz, PayPal, PDV Inter-Media Venture, PE Group, Peak Capital, Pedro Luis Uriarte, Peng T.

Ong, Pentech Ventures, Perot Jain, Peter Brabeck-Letmathe, Peter Thiel, Philippe Gillion, Philippe Plichon, Pinemont, Pitango Venture Capital, PJ Tech Catalyst Fund, Playfair Capital, PMV, Point Nine

Capital, Polaris Partners, Polytech Ecosystem Ventures, Portugal Ventures, Portugal2020, Praetura Capital, Primary Capital Partners, Prime Ventures, Project A Ventures, Promus Ventures, Provence

Business Angels, Qbic, Qualgro, Quantum Strategic Partners, Radicle Impact, Rainer Mauch, Rakuten, ReadyTech, Reaktor Ventures, Realiza, Redalpine Venture Partners, Reed Elsevier Ventures, Région

Aquitaine, Renaud Visage, Renault Group , Rho Ventures, Richard Greer, Richard Jameson, Richard Reed, Right Side Capital Management,

42


Rising Tide, Risto Siilasmaa, Robert Bosch Venture Capital, RRE, Run Capital, Runa Capital, Ryan Hood, Ryan Petersen, S Capital Partners, SAATCHiNVEST, Saint James, Salesforce Ventures, Sam Nurmi,

Sambrinvest, Samsung Catalyst Fund, Samsung Ventures, Sandoz Foundation, Santander InnoVentures, Sapphire Ventures, Sarbacane Software, Schilling Capital Partners, Schroders, Scottish Investment

Bank, SEB Alliance, SEB Venture Capital, Seed4Equity, Seedrs, Segulah, Senovo, Sequoia Capital, Serena Capital, SevenVentures, Shasta Ventures, Shunwei Capital, Sigma Management, Silicon Valley

Bank, Singularity Investments, Siraj Khaliq, Slaughter & May, SmartFin Capital, SMRK, SNCF, SNCF Digital Ventures, Social Capital, Social Leverage, Sofinim, SoftBank, Sony Innovation Fund, Soridec,

Spider Capital, Split Rock Partners, Spring Partners, SRIW, Starquest Capital, StartX, Statkraft Ventures, Steve Goodman, Stewart Butterfield, Stockholm Business Angels, Summit Bridge Capital, Summit

Partners, Sunstone Capital, Sussex Place Ventures, TA Ventures, Taipei Fubon Bank, Tamares, Target Partners, Tekes, Telefónica Open Future, TeleVenture, Tenderloin Ventures, TenEleven Ventures,

Tengelmann Ventures, The Danish Growth Fund, The Studio, TheFamily, Theo Osborne, Thibaud Elziere, Thibault Viort, Tim Jackson, Tim Marbac, TJP Consulting, Tom Glocer, Torben Schreiter, Torsten

Osthus, TPG Specialty Lending Europe, TransUnion, Triangle Peak Partners, Tribeca Venture Partners, Trigon TFI Group, Trinity Ventures, True Global Ventures, True Ventures, TTV Capital, Union Square

Ventures, Upfront Ventures, Valeo, Värde Partners, VC Fonds Technologie Berlin, Velocity Capital, Ventech, Venture TFI, VI Partners, Viewster, Vinsovier, Viriditas Ventures, Vision+, Waypoint Capital,

Wellington Partners, West Coast Capital, White Cloud Capital, White Star Capital, XAnge, Xavier Niel, XL Innovate, Y Combinator, Y Soft Ventures, yabeo Capital, YFM Equity Partners, Yogen Dalal, Yuri

Melnichek, ZenInvest, Zenith Venture Capital

43

2016 EUROPEAN AI & DATA ANALYTICS REPORT SCALEUPS

360&1, AB Tasty, Adabra, Adents, Admedo, Adsmurai, Adthena, Affectv, Aifloo, Aimotive, Aire Labs, Alkemics, AlphaSense, Ampliphae, AntVoice, Apizee, Apperio, Appsumer, Arkivum, Artomatix,

Arundo Analytics, AT Internet, Audio Analytic, AX-Semantics, B2X, Babylon Health, Beamery, Behavox, BestMile, BiBoard, Big Data for Humans, BioBeats, Biosite, Biz2Mobile, Black Swan, Black Swan

Data, Blackford Analysis, Blackwood Seven, Blogfoster, Bluebee, Bonify, Boostcom, Botify, Boxever, Brainshake, ByPath, Candis, Cashboard, Castle, Celonis, Channable, Chronocam, Civey, Clark, Clavis

Insight, CloudNC, Clue, Codec, Codecheck, Cognitive Logic, ComplyAdvantage, Content Insights, Contentful, ContentSquare, Context Scout, Contovista, Convertr, Countercraft, Credit Kudos, Crobox,

Cronofy, Cronycle, CrossEngage, Crowdynews, crystal, CustomerMatrix, Daedalean, Darktrace, Dashlane, data Artisans, Dataiku, Datumize, Deepki, DefinedCrowd, Den Automation, Devicare, Dhatim,

Diasend, Dice, Dictanova, DigitalGenius, Doctrine, Documaster, Dooer, Echobox, eCurrency Mint, Elliptic, Emark, Emarsys, Emotech, Encompass, Enigmedia, ET Index, Exponea, Featurespace, Feedzai,

Figo, FinTecSystems, Five Degrees, FiveAI, Fluido, Foxintelligence, Freespee, Gamaya, GenView, GeoPhy, German Autolabs, GetPlus, Ginmon, Gluru, Gorgias, Grad DNA, Grapeshot, Graphcore, Greater

Than, Greenbird, GreyCortex, Healx, Heoh, High Mobility, Honeycomb, Horus Technology, Icometrix, idio, Imagimob, Import.io, Inbenta, Indexa Capital, Inflowmatix, Influence4You, Instana, Intelligent

Positioning, Intercom, Intersec, Intix, Iotec, Jam, Jobandtalent, Jooxter, Kamp’N, Keeeb, KisanHub, Klarna, Konux, Kreditech, Kubicam, Leeroy, Lightbend, Linkfluence, Loopline Systems, Luminance,

Madberry, Mapendo, Mapillary, Marketizator, Maru, Medical Imaging Partnership, Meetrics, Meniga, Micropsi Industries, Mind Foundry, MindLytix, Molecubes, MoneyFarm, MoQom, MyLife Digital,

Navya Tech, NetMedi, Next 14, Nextail Labs, Nexthink, Noona, Now Interact, Nuritas, Nutmeg, OBILytics, Ogury, OncoDNA, Onfido, Onslip, Ontoforce, OpenDataSoft, OpenGamma, Optolexia, Orson,

Owkin, Parlamind, PatSnap, PayPlug, Peak, Pensionera, Phrasee, PieSync, Pi-Top, Pixoneye, POSpulse, Privitar, Proxem, Pulsate, Purple, Qaelum, Qover, Qualtera, Qubit, RapidMiner, Ravelin, Real Impact

Analytics, Recast.AI, Red Points, Red Sift, Resolver, Rezatec, riskmethods, Rubicoin, Ruler Analytics, Saberr, SalaryFits, SALESmanago, Salezeo, Saphetor, Satago, SBD, Scalable Capital, SciSports,

Scriptbook, SearchInk, Searchmetrics, Seedtag, Senseye, SentiOne, Seven Bridges, Sherpa, Shift Technology, Showpad, Showtime Analytics, Signal Media, Sky-Futures, Smart Me Up, snap40, So Wifi,

Social Karma, source{d}, Sparkcentral, Sposea, Sqreen, StatusToday, Stonestep, Storyful, Storyzy, Surfly, Surgivisio, Swanest, Swrve, Synthesio, TalentAdore, Teckro, Tellmeplus, The Glue, The SaaS Co.,

ThisWay Global, Tictrac, Tray.io, Trendminer, TVSquared, TVTY, Twenty Billion Neurons, Twikey, Unbabel, Unified Post, Uniti, Unomaly, UNSILO, User Replay, Verticly, Verto Analytics, VirtDB, Visiblee,

Vyking, Watty, WayRay, WealthArc, Wealthify, Wholi, Widespace, Wiidii, WorkIT, ZappiStore, Zynapp

44

No dataset is complete and this report provides an indication of reality only.

Comparing to reports of other providers on similar subjects is partly possible

when taking into account the different methodologies.

This report has been compiled for informational purpose only and should not

be regarded as a solicitation to invest in any entity.

This report relies on data and insights from a wide range of public and private

sources and we can’t be hold responsible for the completeness and accuracy

of the information provided.

This report may freely be distributed, republished and posted as long as the

content is not modified, decompiled or reference to the source is being

removed.

2016 EUROPEAN AI & DATA ANALYTICS REPORT DISCLAIMER

OmarMohout

omohout

@omohout

Omar-Mohout

LinkedIn

Slideshare

Twitter

Facebook

FOLLOW OMAR ON