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Greek Startups Attract $ 6 bln

Updated: Mar 15, 2021

According to Marathon Venture Capital, 608 Greek startup companies raised a total of $6 bln in 927 investment rounds by 790 investors between 2010 and 2020.

Athens, Greece: 03 March 2021

According to a study carried out by Marathon Venture Capital:

  • Between 2010 and 2020, 84 acquisitions and 8 IPOs of Greek startups have been completed.

  • Total acquisitions reached $ 7.8 bln in the mentioned period with a record high of $ 2.59 bln in 2020.

  • The acquisition amounts have been significantly higher especially inside Greece and in particular in 2020, reaching the amount of more than $ 0.5 bln.

  • During the past three years, over $ 0.9 bln have been invested in startups with significant operations in Greece.

  • Acquisitions have increased significantly for companies based in Greece in the last two years recording over $ 500 bln.

Marathon Venture Capital writes:

“The Greek startup industry is now stronger and more mature than ever before. Investment and acquisition amounts are at an all-time high. Top – tier venture capital funds are increasingly investing and big tech companies are repeatedly acquiring Greek startups.”

The study reveals that more international investors are leading investments in Greek startups. In the year 2010 – 2020:

  • International funds led 561 of the total number of rounds (61%)

  • Greek funds have led 257 (28%)

  • Angel investors have led 106 (11%).

According to Greek Travel Pages:

  • The total amount of funding for Greek startups per year increased 23 times from $ 51 mln in 2010 to over $ 1.1 bln in 2020.

  • The total number of investments per year increased 9 times in the period of 2010 and 2020.

  • 501 out of 927 funding rounds were invested in startups that maintain a physical presence and employ people in Greece.

  • In the period of 2010 and 2020, $ 1.34 bln went into startups based in Greece, reaching $ 0.38 bln annually in 2020. It is 39 times more if compared to 2010.

Companies that made Greek startup acquisitions include:

  • Samsung

  • Google

  • Microsoft

  • Facebook

  • Cloudfare

  • Amazon

  • IBM

  • Apple

Navigator Consulting provides Investment Advisory, Strategic Management and support for start-ups in Cyprus, Greece and internationally.

For further information, please contact:

Philip Ammerman

Managing Director


The Greek Startup Industry: Investments and Exits, 2010 - 2020

Marathon Venture Capital. 25 February 2021

Greek Startups Gain Ground, Attract $6bln in a Decade

Greek Travel Pages: 3 March 2021

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