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Startups Of The Month by vestbee.com
26 September 2023·6 min read

Sofia Drobychevskaya

Startups Of The Month - September 2023

After looking at the diverse set of solutions featured in our August edition, the time has come to present you with a new round of hand-picked startups chosen throughout September!

In this edition, we highlight the most exciting startups from Europe that are worth your attention - Let's discover what they're all about!

BuiltMind

BuiltMind, a Prague-based proptech startup, is reshaping real estate pricing through data-driven automation. Leveraging machine learning, they optimize pricing decisions in real-time, replacing traditional manual methods often reliant on Excel. BuiltMind aims to help real estate developers optimize revenue and respond swiftly to market changes. Their recent funding rounds, accumulating approximately €600k from Nation 1 VC and angel investors, validate the promise of their innovative approach.

Mifundo

Fintech Mifundo, headquartered in Tallinn, is developing an AI-powered platform addressing the gap in cross-border lending, striving to create a seamless, unified market with improved credit opportunities. Currently raising €2.5M, with €1M already committed, and having secured €1.2M in funding in 2022, Mifundo's ambitious next milestones include regional scaling in key EU markets and diversifying their product range beyond consumer loans, branching into car leasing and mortgage loans. The platform has gained traction by engaging with 30 banks, while also onboarding 2,100 registered users with a monthly growth rate of 30%, signifying the rising demand and potential of their disruptive approach. 

Ogre Artificial Intelligence

Based in Bucharest, Ogre AI is reshaping the energy and utilities sector through innovative AI technology. The platform specializes in automated B2B solutions and offers financial and operational decision-making support to energy & utilities companies. The startup boasts an annual revenue of €350k and a monthly recurring revenue of €28k. Having successfully secured €2M in funding in 2022 from MMC and EarlyGame, Ogre AI has achieved substantial traction by implementing its cutting-edge solutions with major utilities such as EON, ENGIE, CEZ GROUP, and 9 more enterprises and an extensive base of 643 SMEs, highlighting their influential role in reshaping the energy landscape with AI-powered insights and solutions.

Oxla

Oxla, based in Warsaw,  has developed a distributed analytical database that outpaces competitors like Snowflake and BigQuery by over 10 times in efficiency, revolutionizing data analytics. The innovation lies in its remarkable speed, significantly reducing costs and simplifying developer workflows. Oxla is set to gain traction, plans to expand its feature set and gain a broader customer base, The data analytics market, estimated at $53 billion in 2023, presents a ripe opportunity for Oxla's cutting-edge solution.

Hackrate

Hackrate, based in Budapest, is a cybersecurity testing platform that employs a crowdsourced approach for continuous security testing. They provide the industry's solution for monitoring ethical hacker projects, ensuring businesses can identify vulnerabilities in a cost-efficient manner. With an annual revenue of €70k, the startup is raising €1.5M and has already secured €250k from Hiventures. Also, Hackrate has raised over €170k backed by Hiventures. Startup allows companies to prevent data breaches, and optimize their cybersecurity budgets by incentivizing security testing for better results and higher ROI compared to traditional methods.

Hookle

Hookle is a Helsinki-based startup that offers a user-friendly social media marketing platform for small businesses. Powered by AI, it simplifies content creation, scheduling, and performance tracking across multiple social media channels in a single app. The startup plans to integrate advertising features, aiming to be the go-to tool for small businesses seeking an effortless social media marketing solution.  With an annual revenue of 50k €, and 15k+ users they're currently in the process of raising 4M€. Their growth strategy is ambitious, aiming for 220k users and $4M ARE in 2024.

Swotzy

Swotzy, based in Riga, offers a simplified shipping tool for eCommerce businesses to optimize their last-mile operations and reduce operational costs. Their software helps businesses choose the best-fit carriers for their parcel deliveries, streamlining the process and removing complexities associated with contracts and integrations. The startup aims to make multi-shipping accessible to businesses of all sizes, both locally and globally. Currently, Swotzy is in the process of raising €5M and has already secured €590k in funding in 2023 from BlackPearls VC and FIRSTPICK.

Restimo

Restimo, based in Warsaw, addresses the challenges faced by restaurants in managing multiple food delivery channels. Startup integrates all these channels, along with point-of-sale (POS) systems and delivery processes, into one easy-to-use platform. This integration streamlines order management, menu handling, and business reporting to reduce costs, increase revenues, and improve overall efficiency. They have already gained traction with 350+ paying restaurants, operating across 50 cities in Poland, processing over 1M orders through their system. Currently, they are raising €450k, having already secured €200k in commitments.

Datuum.ai

Datuum.ai based in Kyiv and the US, offers a no-code AI-driven platform for swift and efficient data integration, saving businesses up to 80% of time and costs. Their platform automates data processes like ingestion, extraction, mapping, and quality checks. They are currently raising €2M, having secured €827k in 2022, with €500k already committed. With a traction of annual revenue of €192k Datuum’s revenue model includes subscription fees, aiming to achieve €1M in ARR in the coming year. The startup already completed 15 projects and signed two-year-long contracts, streamlining data management for businesses.

Kleen Hub

Kleen Hub, based in Copenhagen, is transforming the packaging industry with its innovative Tap & Reuse system, combatting single-use packaging waste prevalent in the food and beverage sector. The startup allows customers to rent reusable packaging simply by tapping their payment card. Each reusable item is embedded with RFID technology for efficient tracking and environmental impact assessment. With 150+ partners across Denmark, Spain, and Portugal, and a user base of over 11k boasting a remarkable 98% return rate. Kleen Hub has also formed major collaborations and initiated pilot tests in Brazil, showcasing a promising future in tackling single-use packaging.

Related Posts:

Startups Of The Month - August 2023 (by Sofia Drobychevskaya, Editor Vestbee)

CEE Startups Of The Month - July 2023 (by Sofia Drobychevskaya, Editor Vestbee)

CEE Startups Of The Month - June 2023 (by Sofia Drobychevskaya, Editor Vestbee)

 

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