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Greek Startups Attract Global Investment, Show Continued Growth In 2024

by THEFUTURE.TEAM

January 27, 2025

In 2024, Greek-founded startups continued to experience impressive growth, with total funding surpassing $1.3 billion globally, marking an increase of $200 million from 2023. Despite a global liquidity slowdown, this upward trend signals renewed investor confidence after two years of contraction. The sector’s significant achievement includes the acquisition of the Greek technology company BETA CAE by Cadence for $1.2 billion, one of Europe’s largest tech M&A transactions of the year.

Global Funding And Investment Trends

The global funding for Greek startups has been on a steady rise, with 2024’s $1.3 billion exceeding previous years’ totals, such as $962 million in 2019 and $1.2 billion in 2020. Marathon Venture Capital highlighted that major global investors continue to back Greek startups, with Sequoia investing in Reflection AI, Andreessen Horowitz in Kaedim and Pantheon AI, and Alibaba in Connectly, among others. This suggests that despite global market challenges, confidence in the Greek startup ecosystem remains strong.

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Funding rounds are relatively stable, with an average of 150 rounds per year. However, the trend of larger funding rounds is evident, as seen in the increase in average seed round size from $1.8 million in 2019 to $3.5 million in 2024, narrowing the gap between Greek and US startup funding rounds.

Notably, growth-stage rounds have seen a rise, with 24 growth rounds in 2024 compared to just 14 in 2019. However, Series A rounds have seen a decline, a reflection of the global trend of reduced early-stage financing following the boom years of 2021 and 2022.

Acquisitions And Exits

Twelve Greek-founded startups were acquired in 2024, including BETA CAE, InAccel by Intel, and Multi by OpenAI. This is a slight dip from the 16 acquisitions in 2023, following the global slowdown in tech mergers and acquisitions. Additionally, exit announcements from startups operating in Greece decreased significantly, with just 3 exits compared to 11 in 2023. However, the BETA CAE deal marked the largest-ever acquisition of a Greek tech company, underscoring the sector’s continued maturation.

Greek Startups On The Rise

Venture capital funding for startups operating in Greece saw a notable 32% increase in 2024, reaching $400 million. A significant portion of this funding—about a third—was directed to AI companies, highlighting AI as a top sector for investment. Other key sectors included healthcare, fintech, and climate technology.

While the number of funding rounds in Greece remained stable at around 60, startups based in Greece tend to secure smaller funding rounds compared to those operating abroad. Startups in tech hubs like London and New York raised larger seed and growth rounds due to higher personnel costs, with average amounts of $5.1 million and $53.3 million, respectively, compared to $2.1 million and $27.8 million for startups in Greece.

The gap in funding size and the fewer exit announcements suggest that startups operating abroad are further along in their development compared to those still active in Greece. Nevertheless, the success of acquisitions like BETA CAE indicates a promising future for Greek startups both locally and globally.

In conclusion, the continued growth and international interest in Greek startups reflect a maturing ecosystem, with over $1 billion in new capital raised annually and a growing number of exits. Ten years ago, this level of success seemed unimaginable, but the sector is now firmly on the global map.

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Cyprus Income Distribution 2024: An In-Depth Breakdown of Economic Classes

by THEFUTURE.TEAM

December 24, 2025

New findings from the Cyprus Statistical Service offer a comprehensive analysis of the nation’s income stratification in 2024. The report, titled Population By Income Class, provides critical insights into the proportions of the population that fall within the middle, upper, and lower income brackets, as well as those at risk of poverty.

Income Distribution Overview

The data for 2024 show that 64.6% of the population falls within the middle income class – a modest increase from 63% in 2011. However, it is noteworthy that the range for this class begins at a comparatively low threshold of €15,501. Meanwhile, 27.8% of the population continues to reside in the lower income bracket (a figure largely unchanged from 27.7% in 2011), with nearly 14.6% of these individuals identified as at risk of poverty. The upper income class accounted for 7.6% of the population, a slight decline from 9.1% in 2011.

Income Brackets And Their Thresholds

According to the report, the median equivalent disposable national income reached €20,666 in 2024. The upper limit of the lower income class was established at €15,500, and the threshold for poverty risk was set at €12,400. The middle income category spans from €15,501 to €41,332, while any household earning over €41,333 is classified in the upper income class. The median equivalents for each group were reported at €12,271 for the lower, €23,517 for the middle, and €51,316 for the upper income classes.

Methodological Insights And Comparative Findings

Employing the methodology recommended by the Organisation for Economic Co-operation and Development (OECD), the report defines the middle income class as households earning between 75% and 200% of the national median income. In contrast, incomes exceeding 200% of the median classify households as upper income, while those earning below 75% fall into the lower income category.

Detailed Findings Across Income Segments

Upper Income Class: Comprising 73,055 individuals (7.6% of the population), this group had a median equivalent disposable income of €51,136. Notably, the share of individuals in this category has contracted since 2011.
Upper Middle Income Segment: This subgroup includes 112,694 people (11.7% of the population) with a median income of €34,961. Combined with the upper income class, they represent 185,749 individuals.
Middle Income Group: Encompassing 30.3% of the population (approximately 294,624 individuals), this segment reports a median disposable income of €24,975.
Lower Middle And Lower Income Classes: The lower middle income category includes 22.2% of the population (211,768 individuals) with a median income of €17,800, while the lower income class accounts for 27.8% (267,557 individuals) with a median income of €12,271.

Payment Behaviors And Economic Implications

The report also examines how income levels influence repayment behavior for primary residence loans or rental payments. Historically, households in the lower income class have experienced the greatest delays. In 2024, 27.0% of those in the lower income bracket were late on payments—a significant improvement from 34.6% in 2011. For the middle income class, late payments were observed in 9.9% of cases, down from 21.4% in 2011. Among the upper income class, only 3% experienced delays, compared to 9.9% previously.

This detailed analysis underscores shifts in income distribution and repayment behavior across Cyprus, reflecting broader economic trends that are critical for policymakers and investors to consider as they navigate the evolving financial landscape.