Biggest Unicorns of 2025

The Newest Class of Unicorns (Valued at $2B+) Reveals Two Clear Trends

• Geographic concentration: 65% of the unicorns minted in 2025 (through May) are based in North America — with the United States dominating the list. Europe follows with 23%, while China has only one representative so far — but it’s the most valuable of the cohort.

  
  

• AI dominance: Startups applying artificial intelligence lead in both number and valuation.

Country and sector highlights:

China’s Yangtze Memory Technologies tops the list with a $22.1 billion valuation following a $222 million funding round. The company operates in advanced manufacturing, developing flash memory chips — a strategic sector amid the ongoing global tech race.

Coming in second is Abridge, valued at $2.8 billion, which uses AI to transcribe and structure doctor-patient conversations. Other AI-driven standouts include  StackAdapt , The Bot Company ,Supabase and Anysphere, all leveraging generative or applied AI to scale.

The UK makes a strong showing with Synthesia ($2.5 billion), a leader in AI-generated video, reinforcing London’s role as a hub for innovation.

Beyond AI, notable unicorns are emerging in health tech, environmental solutions (like SE Environment), and even functional beverages, such as OLIPOP PBC.

In short: Venture capital is doubling down on technologies that push boundaries — especially AI, infrastructure, and automation — with a clear preference for startups demonstrating global ambition and the ability to scale fast.