These Munich unicorns are shaping the startup scene

Unicorn

Saskia Doll

Munich remains a unicorn hotspot: We show you which startups have cracked the billion-dollar valuation. Click through our unicorn gallery and discover the city’s most exciting scaleups through to true scene icons. (As of October 22, 2026)

February 5, 2026

5 min. read time

#Agile Robots #Celonis #Commercetools #Egym #Finn #Flix #Helsing #Isar Aerospace #Personio #Proxima Fusion

Eurofighter Helsing — **Helsing** is one of Munich’s youngest yet most ambitious unicorns, and has now even reached decacorn status. Founded in 2021, the defence tech startup develops AI-based solutions for modern weapons systems and now also produces drones and underwater systems. With a 1.6 billion euro Series E round in July 2026, alongside strategic partnerships and acquisitions, Helsing continues to expand its position as a European defencetech champion. (Photo: Bradpcs / Pixabay)

Celonis founders Martin Klenk, Bastian Nominacher and Alexander Rinke. (from left) — **Celonis** has long ceased to be just a unicorn and is now a genuine Munich decacorn: at the latest since its 1-billion-dollar Series D round in 2021 and a valuation of more than 10 billion dollars, the process mining company has ranked among the world’s leaders. Born from a student idea, Celonis now drives the global AI transformation with over 3,000 employees and its Process Intelligence platform. (Photo: Celonis)

Entrepreneur Of The Year Personio — Another veteran among the unicorns: Munich-based HR startup **Personio**. Founded in 2015, the company provides HR software for small and medium-sized enterprises. With a funding round of more than 100 million euros in early 2021, the Munich company’s valuation entered unicorn territory. Since then, it has not only secured millions more in funding, but also garnered numerous awards and expanded its product portfolio. (Photo: Personio)

**Quantum Systems** is one of Munich’s newest unicorns: founded in 2015, the defence tech startup develops AI-powered drone and reconnaissance systems and is benefiting from the industry’s boom. With a 160-million-euro Series C round in May 2025, the company surpassed the billion-euro valuation mark. Further capital followed in late 2025, boosting the valuation to over three billion euros – accompanied by expansion into air, land, and maritime applications. Most recently, Quantum Systems acquired fellow Munich-based startup Fernride, adding autonomous ground mobility to its portfolio. In July 2026, Quantum Systems closed a Series D funding round of one billion euros (1.2 billion dollars). (Photo: Quantum Systems)

Flix Australien — **Flix** has been among Munich’s unicorns for several years now and remains on a growth trajectory. The travel tech company’s valuation currently stands at around three billion euros. And all signs point to continued global expansion: the company is now active in 45 countries across five continents. Flix recently entered the long-distance bus market in Australia as well, and its route network in Latin America is also expanding rapidly. (Photo: Flix)

**Scalable Capital** is one of Munich’s leading fintech unicorns: founded in 2014, the company offers a comprehensive investment platform ranging from ETFs and cryptocurrencies to private equity. With a record 155 million euro funding round in June 2025 and having obtained a full banking license, Scalable Capital is significantly expanding its offerings. Today, the unicorn reports having over one million clients and more than 40 billion euros in assets on its platform. (Photo: Scalable Capital)

**Isar Aerospace** brings Munich’s New Space sector to unicorn level. With its Spectrum rocket, the Ottobrunn-based startup is developing a flexible launch vehicle for small and medium-sized satellites. Following a 150-million-euro funding round in June 2025, Isar Aerospace passed the billion-euro valuation mark. As the first privately funded European company, it secured commercial launch contracts with ESA and the EU. Currently, all eyes are eagerly set on the next Spectrum test flight. (Photo: Isar Aerospace)

Founded in 2019, Munich-based startup **Finn** offers cars via subscription – including insurance, registration, and maintenance at a fixed monthly rate. In June 2026, Finn secured around 140 million euros in fresh capital in a Series D financing round. This pushed the company’s valuation past one billion euros, officially granting Finn unicorn status. (Photo: Finn)

Commercetools

Commercetools was founded in 2006 and provides a cloud-based e-commerce platform that enables retailers and brands to build flexible, customisable online shops and digital shopping experiences. In September 2021, Commercetools secured 140 million US dollars in a Series C funding round. With a valuation of roughly 1.7 billion euros (1.9 billion dollars), the company achieved unicorn status. (Photo: Commercetools)

In September 2021, **Agile Robots** raised 186 million euros (220 million dollars), reaching unicorn status in the process. Founded in 2018, the company develops intelligent robotics solutions combining artificial intelligence with precision robotics. The goal is to automate complex manufacturing processes and make robots more flexible and versatile in deployment. (Photo: Agile Robots)

Founded in 2023, Munich startup **Proxima Fusion** develops fusion power plants based on stellarator technology, aiming to tap into a new source of clean energy. In July 2026, the spin-off of the Max Planck Institute for Plasma Physics secured 411 million euros in a financing round. With a valuation of 2.4 billion euros, Proxima Fusion became a unicorn and the highest-valued fusion company in Europe. (Photo: Proxima Fusion)

Founded in 2020, Munich-based startup **Robco** develops modular, AI-powered robot systems that enable companies to flexibly automate their production processes. In October 2026, Robco attained a valuation of over one billion dollars for the first time during a funding round joined by new and existing investors, thereby achieving unicorn status. Earlier in January, the company had already raised nearly 90 million euros (100 million dollars). (Photo: Robco)

Infobox

Egym is also a unicorn; however, formally the fitness company is now a subsidiary of the newly founded American parent company Playlist. As a result, Egym is no longer considered an independent Munich unicorn.

Infobox

Founded in 2019, Munich-based biotech startup Tubulis develops innovative antibody-drug conjugates (ADCs) designed to deliver cancer therapies directly to tumour cells. In April 2026, US pharmaceutical group Gilead Sciences announced the acquisition of Tubulis for up to five billion dollars. The Munich site will continue operating as a research centre.

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