2025年波兰生态系统报告

December 2025 Scope of the report Polish diaspora & affiliated startupsStartups founded and scaled abroad, with (co-)founders from, and/or intellectual In this report data includesboth Poland-basedstartups, which maintain their main center ofbusiness (HQ) in their country of origin,andPoland-founded startups, with their HQ relocatedoutside of Poland. This is the scope used to report onEnterprise Value, VC investment, total VC-backedcompanies,and other analysis. property grown, and/or funding secured in the country Poland-founded startups Diaspora companieslike Elevenlabs, ICEYE, andothers are sometimes showcased as part of thetop successes, but their data are not included. 1The Rise Of Polish Tech 2Ecosystem Today 3Outlook Polish techecosystem isnow worth€56.5B 11 Polish unicorns and $1B+exits are not VC backed andaccount for more than 80%of the non VC backedstartupsʼ EV. At least 78% of enterprisevalue in the UK, Germany,and France belongs toVC-backed startups, while inPoland it is 37%. Private startupsare worth€15.9B, which is28% of the Polishtech ecosystem Since 2019, private techcompanies have grown 3.9x,while the overall ecosystemhas expanded 2.8x over thesame period. ⅓ of Polishenterprise valueis concentratedin the Warsawmetropolitanarea More than 50% of the totalenterprise value spreadamong Lesser Poland,Greater Poland and LowerSilesian. More than aquarter of CEEʼsenterprise valuestems fromPolish startups Polish tech ecosystem is asbig as the next two largestones in CEE combined,Estonia and Ukraine. Polish techecosystem hasgrown 2.8x since2019 Among the largest CEEecosystems, it ranks 6th andis ahead of the CEE average of2.6x. Compared toEuropeanecosystems,Poland isshowingmoderategrowth Polandʼs growth outpaces theEuropean average of 2.3x. Poland is far ahead in terms of the total number of startups among CEE countries Pipeline of CEE companies by stage/ownership and country Polish startup funnel, from rising stars to unicorns and $1B+ exits Poland leads bythe number ofunicorns and$1B+ exitscreated amongCEE countries Poland also leads by unicornsand $1B+ exits per $1B VCinvested and by number ofthoroughbreds* created inCEE. When measured by unicornsand $1B+ exits per number offunded startups, Polandranks 4th after Estonia,Croatia, and Ukraine. Poland is demonstrating strong value creation with limited VC, but relative to GDPthere is still significant potential for expansion Maturity metrics benchmarking among selected European countries Polishuniversities,which rankamong theleaders in theCEE region byseveral metrics,play animportant role inPoland's techsuccess 1The Rise Of Polish Tech 2Ecosystem Today 3Outlook Polishcompanies areexpected to raise€347M of VC in2025 This marks the 7thconsecutive year with over€250M in VC funding and thefirst since 2022 to exceed€300M. 2025 has alreadysurpassed 2023and 2024 in VCraised and is onits way toreaching 2020levels Early-stage VC is close to 2023–2024 levels, while breakout-stage has already reached 2x the2024 levels 70% of the totalVC raised inPoland in 2025went to startupsfrom Warsawmetropolitanarea Startups from Lesser Polandhave raised more than €35MVC so far in 2025. Top fundingrounds raised byPolish startupsin 2025 7 out of the 9 top VC rounds in2025 have been raised byPolish-based startups, whileSpacelift and Fudo Security areheadquartered in the UnitedStates. The top rounds span severalsectors such as EnterpriseSoftware and Security, Fintech,Robotics, Health and Sports. Poland ranks 3rd in VC raised and is by far the leader in number of rounds in the CEE region in2025 Enterprise Software show the largest number of Polish startups, while Gaming hascreated the highest number of unicorns and $1B+ exits Pipeline of Polish companies by stage/ownership and industry Explore 8K+ Polish startups by industry EnterpriseSoftware has ledVC funding since2019, whileFintech is aheadso far in 2025 Robotics has jumped from 10thsince 2019 to 3rd so far this year.Health has also had strongactivity this year. Poland ranks 1st for Health and 3rd in Robotics in CEE by VC funding in 2025 Polish Deep Tech and Life Sciences startups are now worth €6B, showing 15x growth over thepast 10 years Deep Tech Life Sciences Polish Deep Tech and Life Sciences startups are expected to raise €95M in 2025.Poland ranks third in CEE for DT and LS VC funding since 2019 with over €800M. Explore 500+ Polish Deep Tech and Life Sciencesstartups 1The Rise Of Polish Tech 2Ecosystem Today 3Outlook Poland has a pipeline of 1K+ VC backed companies and has already created 20thoroughbreds, unicorns and $1B+ exits Formeremployees ofPolish unicornsand $1B+ exitsare creating thenext generationof scaleups The trend signals a new waveof operators returning withcapital, expertise, andnetworks to acceleratestartup growth. Poland startups have a strong track record of exits Domestic investors dominate early-stage investment but are less active in brea