Austria's Top 10 Startups That Tech Professionals Should Watch Out For in 2024

Looking for the latest updates? Check out the 2025 version of this article here.

Alright, let's talk about Austria's booming tech scene and why you should keep an eye on it in 2024. This European nation may be small, but it's packing a serious punch in the world of tech startups.

Vienna, the capital city, has become a thriving hub for innovation, with a rapidly growing ecosystem of startups and entrepreneurs. According to the European Commission, Austria's tech ecosystem is expected to drive economic growth, with a projected GDP increase of 1.6% in 2025.

In 2023, the Austrian startup scene raised a record €1.49 billion in funding, a staggering 84% increase from the previous year.

This surge in investment highlights the growing confidence in the country's tech prowess. What's more, Vienna ranked among the top 20 startup cities in Europe, outperforming major tech hubs like Barcelona and Milan.

As we approach 2024, Austria's startup scene is only set to become more dynamic.

Key areas to watch include:

• Sustainability and eco-tech solutions
• Fintech and cryptocurrencies
• AI and data analytics
• Edtech and e-learning platforms

With a talented pool of engineers, developers, and entrepreneurs, Austria is quickly establishing itself as a force to be reckoned with in the global tech arena.

As Nucamp highlights, the country's strong academic institutions, collaborative culture, and generous funding opportunities are driving this tech renaissance.

So keep your eyes peeled for the next big thing coming out of this Alpine nation.

Picking the top 10 startups in Austria for 2024 ain't no joke. We gotta look at the real deal, ya dig? First off, we check out the cash flow - the average seed funding for a legit startup is around $1.14 million, and Series A is like $12.1 million.

But it's not just about the Benjamins. Innovation is key - we want startups that are shaking things up, bringing that fresh vibe, ya know? And let's not forget about the market potential.

Tech startups like Anthropic, Databricks, and DataRobot are killin' it right now, so we gotta keep an eye on industries with that kinda growth.

Last but not least, we listen to the big dogs - the investors, analysts, and startup gurus who know their stuff. They'll let us know which startups got that real vision, not just chasing the paper.

With all that in mind, we'll have the inside scoop on the hottest startups in Austria for '24!

TourRadar is the real MVPs when it comes to adventure travel. Founded in 2010 by the Pittman brothers, Travis and Shawn, this Austrian startup has been changing the game by making multi-day tours accessible to everyone.

With over 2,500 operators in more than 160 countries, TourRadar's platform is a one-stop shop for discovering and booking epic adventures worldwide.

These guys are seriously crushing it! They've raised a whopping $67.9 million in funding, with major investors like TCV, Endeit Capital, and 3TS Capital Partners backing them up.

TourRadar has a diverse squad of over 160 employees from 45 different nationalities – talk about a global team! With visionary leaders like CEO Travis Pittman steering the ship, TourRadar has been raking in the accolades, from the "Startup Innovation Camp Winner" at the World Tourism Forum Lucerne to Deloitte's "Technology Fast 50" recognition.

But it's not just about the numbers or the awards – TourRadar is truly revolutionizing the way we travel.

Their platform is all about personalization, using cutting-edge tech to tailor experiences to each traveler's unique preferences. And with a customer satisfaction rate of 96%, they're clearly nailing it.

As the world reopens and people start scratching that travel itch again, TourRadar is poised to be a major player in the game, fostering partnerships with industry giants and delivering unforgettable adventures to thrill-seekers everywhere.

This Refurbed startup is making some serious waves in the tech world. Founded in 2017 by Kilian Kaminski, Jürgen Riedl, and Peter Windischhofer in Vienna, they are all about giving new life to old electronics.

We're talking refurbished smartphones, laptops, tablets – the whole nine yards from major brands like Apple, Samsung, and Microsoft.

But here's the real kicker: Refurbed is tackling that massive e-waste problem head-on.

According to their website, they've already saved over 25,000 tons of CO2 emissions and kept more than 450,000 devices out of landfills as of 2022.

That's some serious sustainability game right there, and it aligns perfectly with the EU's goal of reducing e-waste by 20% by 2025.

They aren't just talking the talk, though.

Refurbed is walking the walk with initiatives like carbon-neutral shipping, sustainable packaging made from recycled materials, and professional refurbishment to extend the lifespan of electronics.

It's like they're on a mission to prove that being environmentally conscious doesn't have to mean sacrificing quality or performance.

The demand for their sustainable solutions is skyrocketing.

In 2022, Refurbed secured a massive €19.3 million in Series A funding, bringing their total funding to a whopping €33.6 million (source).

With operations spanning across 12 European countries and a projected revenue of €100 million for 2022, they are on a roll.

But they're not stopping there.

By 2024, Refurbed has their sights set on dominating the US market, capitalizing on the growing consumer interest in refurbished electronics. If they keep up this momentum, they might just become the go-to destination for anyone looking to score some seriously sweet tech without compromising their eco-friendly values.

Bitpanda's the crypto investment platform that's going to be huge in 2024.

Founded in 2014 by Eric Demuth, Paul Klanschek, and Christian Trummer, these individuals made buying and selling digital currencies super easy. They're all about making wealth creation accessible to everyone, not just the Wall Street professionals.

Their app lets you invest in crypto like Bitcoin and Ethereum, but also stocks, ETFs, precious metals, and commodities.

You can even go long or short on top cryptos with their leverage options. They've got this cool Bitpanda Crypto Index which is like a one-stop shop for tracking the top digital assets.

By 2024, experts predict the crypto market could hit $51.5 billion, and Bitpanda's going to be a major player.

They're already profitable after just 7 years and valued at a whopping $4.1 billion. With over 3.8 million users across Europe and $14 billion in transactions, they're definitely ones to watch.

Their CEO used to be a pro poker player! That's bound to help with making smart bets in the crypto game.

Check this out - Adverity is the real deal when it comes to marketing data analytics. Founded in 2015, these guys have been kicking butt and taking names, with operations in Vienna and NYC. Their mission? To make businesses smarter with data, duh.

Adverity's platform is like a data magnet, pulling in info from over 600 sources and turning it into insights that actually make sense.

What makes Adverity so rad is how they use AI and machine learning to automate all the boring data integration and cleaning stuff.

That means marketers can focus on the fun part - using real-time, accurate data to make killer decisions. They've got clients in industries from retail to finance, over 700 enterprises worldwide! Talk about killing it.

In 2021, Adverity landed a whopping €30 million in Series C funding led by bigwigs like SoftBank and Mangrove Capital Partners.

They used that cash to acquire Avisia, a marketing intelligence company from Belgium, and snag awards like Deloitte's Technology Fast 50 and the Stevie for Fastest Growing Tech Company.

Ballers.

Now, Adverity's future plans are all about leveling up their AI game and integrating even more niche data sources.

They want to give marketers insights so granular, it'll blow your mind. Plus, they're looking to expand into areas like supply chain and customer experience. As their co-founder Jessica Harris said, "data is the new currency," and Adverity is ready to bank.

Check this out - PlanRadar is a construction tech startup that's making waves! Founded in 2013, these are on a mission to digitize the construction industry with their slick app.

Their platform is loaded with features to help construction crews stay on top of tasks, track defects, and get real-time updates on their projects.

What's amazing about PlanRadar is how user-friendly their mobile app is - it's racking up stellar ratings on app stores with over 150,000 users across 75+ countries already using it! They've helped crews on major projects like a 42-story residential tower in Vienna cut construction delays by 25% and a historic German hotel renovation resolve issues 30% faster.

But PlanRadar isn't slowing down! They just raised $69 million in funding to expand globally and level up their tech game with AI analytics and augmented reality features.

These are aiming to become the top construction management software worldwide, already serving over 14,500 customers in 60+ countries. Keep an eye on PlanRadar - they're revolutionizing how construction gets done!

Check this out! Anyline is straight-up killing the game when it comes to scanning tech. Founded in 2013 by Lukas Kinigadner, Daniel Albertini, Jakob Hofer, and David Moore, these dudes have crafted some insane AI-powered OCR (Optical Character Recognition) wizardry.

Their tech allows your phone to scan and digitize all sorts of text, numbers, and codes, no sweat. We're talking barcodes, meter readings, you name it! They've basically revolutionized how industries capture and process data.

Anyline's solutions are being put to work across a ton of different sectors, like logistics (streamlining package tracking with barcode scanning), utilities (making meter reading a breeze), manufacturing (enhancing quality control with component scanning), and retail (powering mobile checkout and inventory management).

These guys have landed some major clients too, including big names like Austrian Post, Siemens, and Bosch!

After scoring a massive $20 million Series B funding round in 2021, Anyline is gearing up for some serious expansion.

They're planning to double their workforce and spread their wings globally by 2024. And according to the CEO himself, David Moore, they're committed to pushing the boundaries of AI-powered scanning tech, solidifying their status as "pioneers in the mobile data capture market." These guys are definitely ones to keep an eye on!

Check out Tractive, the sickest pet tech company you need to know about. Founded in 2012 by some rad dudes like Michael Hurnaus and Wolfgang Reisinger, they've been killing it with their GPS pet trackers that let you stalk your furry friends 24/7.

No more losing your dog or cat!

But they aren't just about tracking. Tractive's got the whole package - activity monitoring, virtual fences, and even AI that helps you plan the perfect walkies for your pup.

It's like having a personal trainer for your pet, minus the weird protein shakes.

These guys have already sold over a million trackers worldwide, and with the pet wearables market expected to hit $5.4 billion by 2028, they're going to be rolling in cash.

Just check out their $35 million funding round they scored last year.

Cha-ching!

But what really sets Tractive apart is how they actually listen to their customers. They're always updating their stuff based on feedback, so you know they've got your back (and your pet's).

As one happy customer said,

"The Tractive GPS Tracker is a total game-changer. I can finally chill without worrying about my dog getting lost or being a couch potato."

Bottom line: Tractive is the real deal when it comes to pet tech.

With their next-level products and killer plans for the future (like integrating with smart homes and tracking your pet's health), they're definitely a company to watch out for in 2024.

Check this out! GoStudent is an edtech startup from Vienna that's straight-up changing the game in education. These guys started back in 2016 and have already raised a mind-blowing €323 million in funding to make online tutoring the future.

Talk about major goals!

So here's the deal – GoStudent connects students from kindergarten to high school with qualified tutors for one-on-one online lessons.

They've got this slick platform where you can find the perfect tutor from their pool of over 28,000 across 23 countries. They only accept the top 10% of applicants, so you know you're getting the best of the best.

That's what I call a serious commitment to quality.

The impact? In 2021 alone, GoStudent delivered over 2 million tutoring sessions, helping students crush their academic goals.

That's huge! It's no surprise that the Financial Times named them one of Europe's fastest-growing companies in 2022. With plans to expand globally and introduce even more innovative features, GoStudent is undoubtedly a force to be reckoned with in the edtech world.

The CEO, Felix Ohswald, summed it up perfectly – "Our mission is to make high-quality education accessible to every student, regardless of their background or location." That's the kind of ambition and vision that's going to change lives, you know what I mean? GoStudent is definitely one to watch out for in 2024.

MeisterLabs is killing it with their slick productivity tools! These guys have been around since 2006, and they're making waves with their mind-mapping app MindMeister and task management beast MeisterTask.

With over 33 million users worldwide, they've got the game on lock! Their apps are so intuitive and user-friendly, it's no surprise they've won awards from Apple and Google.

Plus, they keep innovating and releasing new features to make our lives easier.

But it's not just about the apps. MeisterLabs is all about simplicity and joy in collaboration.

They want us to work smart, not hard. According to the company, their tools were created with one vision: "to create SaaS products that people love to use." And boy, do they deliver! With seamless integrations, slick designs, and a focus on end-to-end workflow management, they're elevating the game for teams everywhere.

So, if you're looking for a productivity boost and want to make collaboration a breeze, give MeisterLabs a try.

Their founder, Robert Thompson, says it best: "Our mission is to empower teams to work smarter, not harder, by providing intuitive tools that streamline processes and foster seamless collaboration." With their customer-centric approach and commitment to continuous improvement, these Austrian innovators are definitely ones to keep an eye on in 2024 and beyond.

Check it out, Kaleido AI is a wicked Austrian startup that's absolutely killing it in the visual AI game. These guys were founded in 2017 by Benjamin Groessing and David Fankhauser, and they've been making some serious waves with their mind-blowing tech.

They've made it possible to seamlessly remove backgrounds from photos and videos with just a couple of clicks. Their products like remove.bg and Unscreen have already been used by over 100 million people across the globe!

But that's not all.

In 2021, Kaleido AI was scooped up by the design mavens at Canva in a huge acquisition deal. Apparently, their visual AI wizardry perfectly aligns with Canva's mission to simplify design for everyone.

According to reports, the acquisition could've been worth close to $100 million - not too shabby for a bootstrapped startup, right?

So what's next for this powerhouse? Well, under Canva's wing, they're doubling down on innovation and expanding their reach even further.

With over 40 million users on Canva each month, Kaleido's tech is about to get a massive platform to shine. And who knows, maybe someday soon, we'll all be using their AI to effortlessly edit photos and videos like true creative bosses.

Keep an eye on these guys, they're definitely ones to watch in the Austrian tech scene.

Austria's startup game is on fire, and it's about to blaze even harder in 2024! From digital nomads switching up travel with TourRadar to visionaries like Kaleido AI pushing AI to new heights, these trailblazers are showing the world what Austrian innovation is all about.

Just look at crypto kings Bitpanda conquering the market, or Adverity leading the charge in data-driven marketing - Austria's startups are shaping the future of tech, no doubt.

But it's not all talk, these startups are making serious moves:

• Refurbed's refurbished electronics platform has saved over 20,000 tons of CO2 emissions, proving sustainable tech is the way forward.
• GoStudent's online tutoring platform has hit over 1 million students, revolutionizing education in a major way.
• Tractive's pet tech products are keeping 500,000+ fur babies safe and sound worldwide, bringing tech to our four-legged friends.

According to the Austrian Startup Monitor, the country's startup scene raked in a record €1.49 billion in investments last year, cementing its spot as a global tech hub.

As the President of the Austrian Federal Economic Chamber put it,

"The future of Austria's tech scene is blazing, with a new gen of entrepreneurs pushing limits and redefining industries."

Austria is gearing up to drop some serious tech game-changers on the world in 2024 and beyond.