It’s June 2025, and that means, other than the fact that we’re almost halfway through the year, that it’s time to take a look back at what happened in May in the world of startups. And, let me tell you, it was one hell of a month, with a whopping 13 companies achieving unicorn status, five of which are European, six of which are from the USA and the final two hailing from India.
These numbers are impressive for all three countries in terms of their relative size and economic success. And, while the majority of these 13 companies are still sitting on the lower end of their billion-dollar valuations (mostly at exactly $1 billion), the achievement cannot be understated and it poses a great deal of excitement across the board.
Interestingly, May’s 13 new unicorns come from a range of different industries – from sales and marketing to defense technology – but something many of them have in common is the involvement of AI in the sectors’ recent progress and growth, especially the aforementioned two industries that are responsible for two of the 13 unicorns each.
Overall, our group of exciting new unicorns collectively contributed an impressive $21.7 billion to the unicorn world in May, while six previously anointed unicorns lost their status. Four of these six companies – Ather Energy, eToro, Hinge Health and MNTN – went public and the other two – Daily Harvest and Windsurf – were acquired by industry giants, Chobani and OpenAI, respectively. An end to their lives as unicorns, resulting in a total $13.4 billion withdrawal of value from the unicorn ecosystem, but the start of exciting new chapters for all of the above companies who continue to enjoy tremendous success, albeit in different forms going forward.
But, enough about the past, what everybody really wants to know more about now is our brand new unicorns – who are they, what do they do and how did they manage to achieve billion-dollar-plus valuations in May 2025? Let’s find out.
The 13 Newest Unicorns To Be Minted In May 2025
Here are the 13 privately-owned companies that managed to reach valuations of $1 billion and more in May 2025.
Liftoff: $4.3 Billion
Founded in 2020, Liftoff has skyrocketed to a $4.3 billion valuation as a result of its work in redefining satellite deployment. The company provides ultra-low-cost launch services for micro and nanosatellites, making space more accessible for businesses and research institutions alike.
The company’s rapid ascent in 2025 has been fuelled by increased demand for Earth observation, defence surveillance and global internet coverage. With a modular rocket design and reusable components, Liftoff has slashed launch costs, attracting major contracts from government and commercial clients. Its Series D funding round in May solidified its unicorn status, signalling strong investor confidence in the booming private space sector.
Tekever: $1.3 Billion
Tekever, a European aerospace tech firm founded in 2001, recently hit unicorn status thanks to the growing demand for unmanned aerial surveillance systems. Known for its AI-powered maritime drones used in border patrol, environmental monitoring and military applications, Tekever has become a go-to solution for European governments and NATO allies.
With conflict zones and migration crises driving growth in defence tech, Tekever’s advanced UAV platforms offer a low-cost, high-performance alternative to traditional aircraft. Its valuation jumped following a major government contract and expansion into the US market, pushing it past the billion-dollar mark.
Mubi: $1 Billion
Mubi, a curated streaming platform founded in 2007, reached its $1 billion valuation in May 2025, thanks to its focus on arthouse and independent cinema. Unlike mainstream platforms, Mubi offers a refined selection of films alongside editorial content, fostering a loyal global user base.
The company recently expanded into original productions, drawing critical acclaim and boosting subscriptions. Its success lies in merging curation with community, appealing to film enthusiasts who value quality over quantity. A fresh investment round, combined with growing international licensing deals, helped push Mubi into unicorn territory after nearly two decades of steady growth.
SpreeAI: $1.5 Billion
Founded in 2021, SpreeAI uses artificial intelligence to revolutionise the fashion retail experience. The company’s core product allows shoppers to virtually try on clothes using personalised avatars and deep learning, reducing return rates and improving customer satisfaction.
Its technology has been adopted by major fashion brands eager to modernise their e-commerce platforms. SpreeAI’s recent $1.5 billion valuation was driven by strong retail partnerships, global expansion and consumer demand for immersive, sustainable online shopping. As physical retail continues to decline, SpreeAI is positioning itself as an essential tool for the future of fashion.
Parloa: $1 Billion
Parloa is transforming how businesses manage customer service by using AI to automate interactions through voice and chat channels. Based in Berlin and founded in 2019, Parloa has grown quickly as demand for scalable, intelligent customer support tools skyrockets.
The company raised $120 million in a Series C round led by Altimeter Capital and others, bringing its valuation to $1 billion. With businesses seeking efficient ways to handle increasing volumes of customer inquiries, Parloa’s natural language capabilities and enterprise integrations position it as a leader in conversational AI.
Porter: $1.2 Billion
Porter is an India-based last-mile logistics platform that connects businesses with on-demand delivery solutions. Since its founding in Bangalore in 2014, the company has grown rapidly across urban India, helping SMEs streamline transport and courier services.
Its $200 million Series F round in May 2025, led by Kedaara Capital and Wellington Management, raised its valuation to $1.2 billion. Porter’s mobile-first platform and network of gig drivers provide a scalable solution to the country’s complex logistics challenges.
Quantum Systems: $1 Billion
Germany’s Quantum Systems is a dual-use drone manufacturer focused on both defence and commercial applications. Founded in 2015 in Bavaria, the company designs vertical take-off and landing (VTOL) drones known for their autonomy and reliability.
In May 2025, it raised $181 million in a Series C round led by Balderton Capital, reaching a $1 billion valuation. Its systems are used for military reconnaissance, mapping, and disaster response. Quantum Systems is positioned at the intersection of AI, robotics and aerospace, an area seeing explosive investment.
Owner: $1 Billion
Owner is a software platform that helps independent restaurants drive revenue through online ordering, marketing automation and customer insights. Based in Palo Alto and founded in 2018, the company raised $120 million in a Series C round in May 2025, led by Headline and Meritech Capital.
With restaurants still recovering from the effects of the pandemic, Owner gives them the tools to compete with large chains and delivery platforms – empowering local businesses to own their customer relationships and grow sustainably.
Wireless Logic: $4.65 Billion
UK-based Wireless Logic, founded in 2000, offers IoT connectivity and device management at scale. Acquired by Montagu Private Equity in 2018, it has since expanded across Europe and Asia.
Its May 2025 valuation soared to $4.65 billion following a minority investment from General Atlantic’s Beyond Net Zero fund. The company connects over 13 million devices globally, from smart meters to autonomous vehicles.
As industries increasingly rely on IoT infrastructure, Wireless Logic’s role in securely managing data, networks and global SIM provisioning makes it a cornerstone of connected tech.
Statsig: $1.1 Billion
Statsig, based in Bellevue, Washington and founded in 2021, provides experimentation and product analytics tools for tech companies. Its platform allows developers and product teams to A/B test features, track performance and make data-driven decisions in real time.
A $100 million Series C led by Iconiq Growth in May 2025 brought its valuation to $1.1 billion. As product-led growth becomes a dominant strategy in tech, Statsig’s intuitive tools make it easier for teams to innovate quickly and with confidence.
JSW One: $1 Billion
JSW One, founded in Mumbai in 2019, is a B2B e-commerce marketplace for steel, cement and other building materials. Backed by JSW Steel and others, the platform raised $40 million in a Series B round in May 2025 led by Principal Asset Management.
Now valued at $1 billion and reaching unicorn status, JSW One helps small contractors and builders source materials efficiently in a traditionally fragmented market. As infrastructure spending surges across India, JSW One’s streamlined platform brings much-needed transparency and digital infrastructure to the construction supply chain.
Pathos: $1.6 Billion
New York-based biotech startup Pathos uses artificial intelligence to accelerate cancer drug development. Founded in 2021, the company employs deep learning to identify new oncology targets and simulate drug interactions, dramatically shortening the time from discovery to trial.
Last month, Pathos raised $365 million in a Series D, pushing its valuation to $1.6 billion. With its blend of biotech and AI, Pathos is positioned to lead a new wave of precision medicine – one that’s faster, more personalised and more cost-efficient than traditional drug discovery methods.
Awardco: $1 Billion
Utah-based Awardco is modernising employee recognition and rewards. Founded in 2011, it provides a customisable platform for organisations to recognise milestones, performance, and culture with real-world rewards. In May 2025, the company reached a $1 billion valuation after raising $165 million in a Series B round from Sixth Street and Spectrum Equity.
As companies put more focus on employee engagement and retention, Awardco’s user-friendly interface and massive rewards catalogue are becoming increasingly attractive to HR teams worldwide.
