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These Munich unicorns will shape the startup scene in 2026

Munich remains a unicorn hotspot: Based on a recent analysis of our Munich Startup Insights, we show you which startups have broken the billion-dollar valuation mark. Click through the unicorn gallery and discover the city's most exciting scaleups, including true scene icons.

February 5, 2026 4 min reading time

Eurofighter Helsing
Helsing is one of Munich's youngest, yet most ambitious unicorns, and according to Munich Startup Insights, it's now even a decacorn. Founded in 2021, the defense technology startup develops AI-based solutions for modern weapon systems and now also produces drones and underwater systems. With a Series D round exceeding 600 million euros In June 2025, through strategic partnerships and acquisitions, Helsing is expanding its position as a European Defencetech Champion further. (Photo: Bradpcs / Pixabay)
The Celonis founders Martin Klenk, Bastian Nominacher and Alexander Rinke. (from left)
Celonis is no longer a unicorn, but a true Munich decacorn: at least since the Series D round exceeds one billion dollars With a valuation of more than 10 billion dollars in 2021, the process mining company is among the world's leading companies. It originated from a student idea, currently employs over 3,000 people and its Process intelligence platform advancing the global AI transformation. (Photo: Celonis)
Entrepreneur Of The Year Personio
Another veteran among the unicorns: the Munich-based HR startup PersonioThe company was founded in 2015 and offers a HR software for small and medium-sized enterprises. With a financing round at the beginning of 2021 amounting to more than 100 million euros The Munich-based company's valuation broke into unicorn territory. Since then, it has not only received millions more in funding, but also numerous awards and expanded its product range. (Photo: Personio)
Quantum Systems
Quantum Systems is one of Munich's newest unicorns: Founded in 2015 Defencetech startup The company develops AI-powered drone and reconnaissance systems and is benefiting from the industry boom. With a Series C funding round of over 160 million euros In May 2025, the company broke the billion-euro valuation mark. Further capital followed at the end of 2025, raising the valuation to over three billion euros – along with expansion into air, land, and water applications. Most recently, Quantum Systems acquired another company, also based in Munich. Startup Fernride and expands its portfolio to include autonomous mobility on the ground. (Photo: Quantum Systems)
Flix Australia
Flix It has been one of Munich's unicorns for several years and remains on a growth trajectory. According to Munich Startup Insights, the company's valuation is... Traveltech company Currently, its market capitalization is around three billion euros. And the signs continue to point to global expansion: The company is now represented in 45 countries on five continents. Flix recently also entered the long-distance bus market in Australia and also the route network in Latin America It's growing rapidly. (Photo: Flix)
Scalable Capital
Scalable Capital Scalable Capital is one of Munich's leading fintech unicorns: Founded in 2014, the company offers a broad investment platform ranging from ETFs and cryptocurrencies to private equity. With record funding of €155 million in June 2025 and the subsequent acquisition of a full banking license, Scalable Capital has significantly expanded its offerings. Today, the unicorn reports having over one million customers and more than €40 billion in assets under management on its platform. (Photo: Scalable Capital)
Tubules
Tubules is the only biotech unicorn in the Munich group: The Startup develops novel antibody-drug conjugates (ADCs) designed to specifically target cancer cells and reduce side effects. With a record-breaking Series C funding round totaling [amount missing] 344 million euros In autumn 2025, Tubulis will significantly advance the clinical development of its cancer therapies and is among the most exciting European biotech players. (Photo: Tubulis)
Isar Aerospace
Isar Aerospace This brings Munich's New Space to unicorn status. Startup A company from Ottobrunn has developed the Spectrum rocket, a flexible solution for launching small and medium-sized satellites. Following funding over 150 million euros In June 2025, Isar Aerospace exceeded a billion-euro valuation. It became the first privately financed European company to secure this. commercial launch contracts with ESA and EU. Currently, all eyes are eagerly awaiting the next [event/project/etc.]. Spectrum test flight. (Photo: Isar Aerospace)
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Egym

Also Egym It is listed as a Munich unicorn in Munich Startup Insights. The valuation is accurate, but formally, the fitness company now belongs as a subsidiary to the newly founded American company. Parent Company PlaylistThis means that Egym can no longer be considered an independent Munich unicorn.
Basis of the evaluation: Munich Startup Insights / As of February 4, 2026

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