Europa AI startup scaleups report 2016

2016 EUROPEAN
ARTIFICIAL INTELLIGENCE
SCALEUPS REPORT
OMAR MOHOUT

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Foreword
Highlights2016
EuropeanAI & DataAnalyticsScaleups
Methodology
Abouttheauthor
AboutSirris
Datasources
Disclaimer
TABLE OF CONTENTS

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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?Whatdoesdata-drivenor API-firstbusinessmodelslook 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
andinspirationto stakeholdersintheEuropeanscaleupecosystem.
Sincerely,
OmarMohout

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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
collaborationwithEggsplore.
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,
AutonomousVehiclesandChatbots.
Only deals of at least €750K are considered for
thisreport.
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 emailto omar.mohout@sirris.be
ABOUT THIS REPORT

HIGHLIGHTS 2016
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• € 1.8B across 306 dealsin 22 countries;
• UK is leadingbothin fundingandin numberof deals;
• The city with the highest number of deals is London, followed by Paris
and Stockholm;
• Kima Venturesis themost activeAI venturefundinEurope;
• Content driven is the most popular business model used by AI and Data
Analyticsscaleups;
• No EuropeanAI scaleupwent IPO in 2016;
• 83% of EuropeanAI scaleupsare 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 foundersor CEOs are femalein theAI & DataAnalyticsdomain.
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 millionpermonth.
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
theamountof € 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
23
25
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
anddatadomain.
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
Dronecompanies.

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 theFinTechcategory.
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:noneof themis basedin France.

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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 funds
7%
Private funds
71%
Combination
Public/Private
22%

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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
Analyticscompanyneedsto be foundedin 2012.
It takes in average 4 (long!) years for these type of
companiesto raisesubstantialexternalfinancing.
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-
firstcompanyhasover1.000 employees.
The smallestAI companyis 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
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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
top10 forAI.

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BREAKDOWN OF THE INDUSTRY
API driven
7%
Artificial
Intelligence
44%
Autonomous
Vehicles
3%
Chatbot
1%
Data Analytics
45%

83%
17%
B2B B2C
80%
20%
B2B B2C
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B2B & B2C COMPARISON
NUMBER
OF DEALS
AMOUNT
RAISED
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
deploysB2C activities:robo-advisorSwanest.

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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

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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
thetotal.
Examples are AX-Semantics, Blogfoster, Content
Insights, Crowdynews, Echobox, Honeycomb,
Honeycomb,SignalMedia,StoryfulandStoryzy.
TYPE OF BUSINESS MODELS 2016

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The most active 2016 venture investor in Europe
for AI is French Kima Ventures from serial
entrepreneurXavierNiel.
Irish originated Intercom received funding from
Mark Zuckerberg and Jack Dorsey. German credit-
score scaleup Kreditech received funding from
PeterThielandtheWorldBank.
More than 600 funds and business angels made
investments in AI based scaleups last year.
No EuropeanAI scaleupwent IPO in 2016.
MOST ACTIVE INVESTORS
1. Kima Ventures(France)
2. IBB (Germany)
3. SalesforceVentures(USA)
4. Ventech(France)
5. SunstoneCapital(Sweden)
6. NotionCapital(UK)
7. IQ Capital(UK)
8. AmadeusCapitalPartners(UK)
9. BpiFrance(France)

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Corporate Venture Capital is involved in 25% of all
European deals and 29% of all capital raised. This
is significanthigherthanotherindustries.
The highest corporate investment was € 59M in
Cambridge based Darktrace by Japanese
SoftBank.
CORPORATE VENTURE CAPITAL
INVESTORS IN 2016
1. Salesforce
2. RobertBosch
3. Intel
4. Alstom
5. Publicis
6. Samsung
7. Axel Springer
8. SchneiderElectric
9. SolvayRhodia
10. SNCF
11. Mitsui
12. Orange
13. Nokia
14. GrupaPracuj

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TOP 5 BIGGEST DEALS*
€ 59M € 58M € 44M€ 44M € 40M
#01 #02 #03 #04 #05
*In amount raised

MERGERS & ACQUISITIONS BY 2016
FUNDED SCALEUPS
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• API-firstKlarnafromSweden 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 NorthAmericanbusiness of Vision Critical Research and Consulting;
• French Synthesioraised€ 8M and acquired Presentation creatorBunkr in 2017;
• SwissLightbend (SoftwareDevelopment), a spin-offfromEPFL, raised€ 18M and acquired BoldRadiusin April 2016.

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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
knowledgeinstitutes.
It’s very much in line with the 8% of the scaleups
across all industries. It indicates that AI became
accessible to a largepoolof founders.
Even in the Autonomous Vehicles domain, only
one scaleup is a spin-off: BestMile from École
PolytechniqueFédéralede Lausanne.
SPIN-OFFS VS TOTAL TOTAL
BY COUNTRY IN 2016

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MOST ACTIVE SPIN-OFF INSTITUTES IN 2016
1. Universityof Cambridge(UK)
2. École PolytechniqueFédéralede Lausanne(Switzerland)
3. KULeuven(Belgium)
4. ImperialCollege London(UK)
5. Universityof Antwerp(Belgium)
6. UniversityCollegeDublin(Ireland)
7. Universityof Ghent(Belgium)
8. Universityof Southampton(UK)
9. Universityof Oxford(UK)
10. Universityof Coimbra(Italy)
11. KarolinskaInstitutet(Sweden)
12. Universityof Nantes(France)
13. NorwegianUniversityof Science andTechnology(Norway)
14. Universityof Pisa (Italy)
15. Rhine-WaalUniversityof AppliedSciences(Germany)
16. UniversitéPierreet MarieCurie(France)
17. GdańskUniversityof Technology(Poland)

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16% of the European AI scaleups graduated from
an acceleration program. That’s 2% more than
the14% 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
investorsthanksto accelerationprograms.
ACCELERATORS, BY NUMBER OF
FUNDED SCALEUPS IN 2016
1. 500 Startups(USA)
2. imec.iStart(Belgium)
3. StartUpHealth(Finland)
4. Paris&Co(France)
5. Level39(UK)
6. ideaSpace(UK)
7. Seedcamp(UK)
8. Techstars(USA)
9. EntrepreneurFirst(UK)
10. Y Combinator(USA)
11. Le HubBpifrance(France)

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BREAKDOWN OF FOUNDERS
Female founders/CEOs
10%
Male founders/CEOs
90%
1 founder
36%
2 founders
40%
3 founders
10%
4 founders
7%
5 founders 7%

ADDITIONAL HIGHLIGHTS 2016
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• The oldest AI company that got funded is Cambridge based Grapeshot. It’s using
advanced probability algorithms to provide data to better target advertising
campaignsandisfoundedin1992;
• 2 French companies got the Gartner Cool Vendor label: Alkemics and
ContentSquare; Synthesio, another French scaleup, received the Forrester Wave
2016recognition.
• 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
andOrson.
• Aimotive, a Budapest based Autonomous Vehicle scaleup that received € 6M from
amongRobertBoschamongotherisaspin-offfromKishonti,aGeoTechcompany;
• 38 AI & Data Analytics scaleups have 100 employees or more employees (such as
Emarsys, Jobandtalent,Black Swan,Darktrace,PatSnap,Unbabel, Showpad, Feedzai,
Nutmeg,Inbenta,SwrveorOnfido);
• London based ET Index, an investor tools to manage carbon risk, got € 1.4M from
theEuropeanCommission;
• French Recast.ai is founded by four alumni from the famous coding school Ecole 42.
Itraised€ 1MfromthefounderofEcole42,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
humanintervention(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: UsingAItodetectdyslexiainchildren(Sweden,EdTech,€ 1M)
• Gluru: The smart to do list that helps you identify your tasks and suggests the
answers(UK,BusinessIntelligence,€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
Clickon the above link to access the full dataset
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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
financingactivityforEuropeantechcompanies.
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
institutesare excluded.
2016 EUROPEAN AI & DATA ANALYTICS REPORT METHODOLOGY

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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,Viadeoor thecompany’swebsite.
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,
privateequity,grantsandconvertibleloansare included.

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THE CATEGORIESARE:
ArtificialIntelligence,DataAnalytics,AutonomousVehicles,APIs andChatbots
THE COUNTRIESARE:
Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Hungary, Iceland, Ireland, Italy,
Netherlands,Norway,Poland,Portugal,Romania,Serbia,Slovakia,Spain,Sweden,SwitzerlandandUK.

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OMARMOHOUT
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‘TheFutureof 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.comandTeamleader.eu.
Mohout is a keynote speaker and panellist on technology, entrepreneurship and innovation topics at
leadingconferences.
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
solutionsto therealchallengesfacedbytechnologyentrepreneursandstartups.
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,knowledgecentres,andresearchinstitutions.
For moreinformationon howSirriscan helpyourcompanysuccess, pleasevisitwww.sirris.be.
2016 EUROPEAN AI & DATA ANALYTICS REPORT ABOUT SIRRIS

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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,

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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
whentakingintoaccountthedifferentmethodologies.
This report has been compiled for informational purpose only and should not
be regardedas a solicitationto investin anyentity.
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 informationprovided.
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
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Europa AI startup scaleups report 2016

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