Let’s take a look at the most innovative, fast-growing regional companies awarded in the third edition of CEE Scaleup Challenge - the biggest 100% online competition for scaleups from Central & Eastern Europe organized by Vestbee matchmaking platform.
Intiaro, the Winner of the CEE Scaleup Challenge, is a B2B2C solution for furniture & accessories companies. The Polish scaleup provides digitalization of its products in 3D. The visualization in a marketplace helps potential customers to picture how the offered homeware would look like in their homes or after the customization. 3D gaming technology allows the customer to make the right buying decision and increases the chances of purchase at least 20%. So far, Alfabeat, Credo Ventures, Enern, Presto Ventures, Inovo Venture Partners have invested in the company €3.65M.
Second place belongs to Lingvist - Estonian, 6 years old, B2C, fast-growing company that provides great educational solutions. It is accelerating human learning and increases the quality of receiving knowledge. Based on sets of algorithms and AI technologies Lingvist provides 10 times faster language learning than casual methods. Currently, the company is focused on improving users’ language skills, especially English, but they would like to cover all education fields in the future. Currently, they are fundraising for pre-series B with the €5M goal and they have already committed €2.5M.
Bronze medalist Goldilock is a Czech company bringing cybersecurity to a new level. They separate data on hardware servers creating cold storage for not-in-use data making it unavailable to hack. On the other hand, they also allow access to data whenever needed and connect it with the Internet immediately. It is possible due to multi-factor authentication, biometrics, regressive non-IP technology triggers, and cryptography. What is important to underline, Goldilocks is a really unique solution that allows controlling an "air-gapped" memory unit without internet use or human intervention.
HautAI is an Estonian Saas solution for AI analysis within the skincare and pharma market. This B2B innovative AI-powered platform supports data processing and analysis of skincare and skin health-related information. Based on the machine learning and sets of algorithms it provides opportunities in order to introduce customization and a recommendation system for clients of the cosmetics industry. So far the company has been financed by a business angel, Alex Zavoronkov and total funding received was €0.4M.
Polish Saas platform RevDeBug gives the advantage to monitor IT systems in the most efficient and innovative way. Thanks to this company finding the source of potential problems and implementing better solutions is faster and easier than usual. They go deeper than common monitoring solutions which observe code in run time. RevDeBug analyzes the compilation process, so it is able to precisely recreate code before the crash, solving the "last mile" problem in finding the origin of errors. Within only 3 years of existing, 7000 developers trusted them by using their extension for Visual Studio.
Tensorflight is a Polish company powering the insurtech sector. It uses aerial, street view, and satellite imagery to automate commercial property inspections, underwriting, and help in better risk modeling. Their AI algorithms and computer vision give the opportunity to eliminate inaccuracy of infrastructure data and decrease both costs and time spent related to inspections in the insurance process. Currently, they are fundraising €4.5M for pre-series A and already committed €1M.
SCIO Technologies is an Austrian B2B2C, hardware company that delivers printed electronics. Its key innovation is the possibility to use other materials as a base of electronics goods. The features of components give a chance to make them more useful, e.g. more flexible in the case of foil or paper. However, it also give a possibility to replace the plastic boards with wood, metal, water, or other types of material. Additionally, the 3D printing technology allows decreasing weight and volume of final goods. They have already committed €3.0M for Series A.
Romanian Fintech company Pago provides a solution that enables to pay all utility bills by one application. It combines several different apps, online platforms, and other offline methods giving a possibility to present, pay and manage all liabilities. The team is still developing the application by adding new functionalities, payment methods, and expanding to a new market what makes Pago more and more useful. They are fundraising for pre-series A with the €1.5M goal and they have already committed €0.25M.
TradeCore is a 7 years old, B2B Serbian company developing the Fintech sector. This solution is dedicated to companies introducing new innovative financial services products. The platform gives an opportunity for users who are able to offer their product as soon as possible while focusing on the added value. Thanks to TradedCore, financial services providers can avoid building infrastructure and complete the required aspects of delivering a financial product in the early development stage. So far, South Central Ventures and other business angels granted €5.6M. Currently, the company has opened pre-series A with the €4M goal and €1M already committed.
Jeff App is a Latvian startup that provides financial solutions for Asian borrowers and lenders. Characteristic for the South East Asian market is the fact that the majority of people do not have a bank account and credit history there. On the other hand, they are the leader in using mobile internet. Jeff App made use of that by converting a digital footprint like phone metadata, history of social media, behavioral data, etc. to valuable information for credit scoring purposes of banks and lenders. So far, Estonian Business Angel Network and private angels invested €0.33M. Currently, they are going to collect €1M for the seed batch and they have already gained €0.3M.
CEE Startup Challenge - Meet The TOP 10 Innovative Companies (by Jakub Kopera, Community Builder, Vestbee)
CEE Scaleup Challenge - Meet The TOP 10 Fast Growing Companies (by Jakub Kopera, Community Builder, Vestbee)
10 Scaleups in Central & Eastern Europe To Look For In 2020 (by Akbota Sabetova, Community Builder, Vestbee)