Southern Europe’s Top 5 Scaleups Join TECH5’s Tech Champions League
▼ Summary
– Southern Europe’s tech ecosystem is gaining momentum, with five standout scaleups from Andorra, Cyprus, Greece, Italy, Malta, Portugal, and Spain competing in TECH5’s prestigious competition.
– The region’s digital landscape is bolstered by deep talent pools, strong academic institutions, and increasing investor confidence, leading to significant growth in tech sectors across various countries.
– Multiverse Computing (Spain) is recognized for merging AI and quantum computing, achieving significant advancements in energy-efficient AI solutions with substantial funding support.
– 1000Farmacie (Italy) and Coverflex (Portugal) are revolutionizing their respective industries with rapid growth, innovative platforms, and significant funding, enhancing accessibility in healthcare and employee compensation.
– Smartness (Italy) and Up2You (Italy) are leveraging AI and sustainability tools to drive growth and environmental responsibility, with Smartness optimizing pricing strategies and Up2You helping businesses reduce carbon footprints.
Southern Europe’s tech ecosystem is gaining momentum, with five standout scaleups earning a spot in TECH5’s prestigious competition—often dubbed the “Champions League of Technology.” These innovative companies will compete against Europe’s brightest startups for the title of the continent’s most promising high-growth business.
The region’s digital landscape, though still evolving, has seen remarkable progress. A combination of deep talent pools, strong academic institutions, and increasing investor confidence has created fertile ground for scaling tech ventures.
Representing seven countries—Andorra, Cyprus, Greece, Italy, Malta, Portugal, and Spain—these finalists were selected based on their rapid growth, market impact, and future potential. The numbers speak for themselves: Spain’s tech sector expanded by 5.8%, Andorra’s by 12%, and Malta’s by an impressive 18%. Portugal’s startup ecosystem surged by 16%, with deal activity up 24% and investment skyrocketing 148%. Meanwhile, Cyprus added €7 billion to its economy through tech, and Greek startups secured over €555 million in funding—a 15% year-over-year increase.
Here are the five Southern European scaleups making waves in TECH5:
1. Multiverse Computing (Spain)
This Spanish innovator merges AI and quantum computing to tackle complex industry challenges. Since its 2019 launch, Multiverse Computing has gained recognition for Singularity, a platform that applies quantum algorithms to optimize everything from energy grids to financial portfolios.
Recently, the company addressed AI’s massive energy consumption with CompactifAI, a solution that compresses large language models (LLMs) without significant performance loss. Last month, it achieved an 80% compression rate for two Meta Llama models.
Backed by €25 million in funding last year—plus an additional €67 million from the Spanish government—Multiverse Computing is poised to lead in energy-efficient AI solutions.
2. 1000Farmacie (Italy)
Italy’s top e-pharmacy platform connects independent pharmacies with consumers, offering over 100,000 health and wellness products. Founded in 2020, 1000Farmacie simplifies digital sales for pharmacies while providing customers with price comparisons, consultations, and fast deliveries.
With a 333.10% compound annual growth rate (CAGR), the company ranked second on Sifted’s Southern Europe Leaderboard. Its mission? To make healthcare more accessible through technology.
3. Coverflex (Portugal)
Coverflex is transforming employee compensation with an all-in-one benefits platform. Companies can customize perks—from insurance to meal allowances—while employees manage everything via a single app.
Since 2019, Coverflex has partnered with 11,000+ businesses, including Revolut and Volvo, helping them save an average of €1,000 per employee. A €15 million Series A round in 2023 reinforced its position as a leader in personalized HR solutions.
4. Smartness (Italy)
Formerly known as Smartpricing, this scaleup helps hotels and rentals maximize revenue through AI-driven dynamic pricing. By analyzing thousands of data points, Smartness adjusts rates in real time, syncing prices across all booking channels.
With 4,000+ clients in 41 countries, €15 million in funding, and a team of 100, Smartness is proving that smarter pricing equals faster growth.
5. Up2You (Italy)
Milan-based Up2You helps businesses reduce carbon footprints with tools for emissions tracking, sustainability reporting, and staff engagement. Over 450 companies, including Banco Azzoaglio, have used its platform to earn certifications like B Corp and ISO.
For Banco Azzoaglio, calculating its carbon footprint sparked internal sustainability initiatives—demonstrating how eco-conscious strategies can drive both ethics and competitiveness.
What’s Next?
These five will face off against finalists from France, Benelux, the Nordics, and DACH, with two more regions to be announced soon. The ultimate winner will be crowned at TNW Conference in Amsterdam this June.
For those eager to witness Europe’s tech future unfold, tickets are available—use TNWXMEDIA2025 for a 30% discount. The competition is heating up, and Southern Europe’s brightest are ready to shine.
(Source: The Next Web)
