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08 March 2022·20 min read

Konrad Koncerewicz

Head of VC & Startups, Vestbee

TOP 100 CEE Startups That Closed Funding Rounds In 2021

The year 2021 turned out to be very successful in terms of investments flowing into the CEE region considering both the number of transactions and amount of VC funding. Around 1000 funding rounds were closed while the total amount of investments exceeded 5.4B EUR (for comprehensive analysis and data check our latest VC Transactions In CEE Report 2021). 
 

Below, we present TOP 100 CEE startups that have closed funding rounds in 2021.

  • UiPath - Romanian company developing robotic process automation and artificial intelligence software. It offers an end-to-end platform for automation, combining the leading Robotic Process Automation (RPA) solution with a full suite of capabilities that enable every organization to rapidly scale digital business operations and unlock the greatest potential. (Series F - €623M)
  • Bolt - Estonian unicorn aiming to build the future of mobility by providing a platform that connects its users with scooters, e-bikes, motors for rent, cars providing taxi services and food delivery option. Bolt very much contributes to smart cities development offering better alternatives for daily transportation. (Series E - €600M)
  • Sotio - a biotech startup from Praga disrupting the approach to cancer immunotherapies. Sotio is working on new medical therapies by a.o. developing proprietary technology designed to improve on the efficacy of CAR T therapies and a new generation of potent and stable antibody-drug conjugates. (Series undisclosed - €280M)
  • Vinted - Vilnus-based startup developing online C2C marketplace which allows its users to sell and buy second-hand clothes and accessories thanks to online chat, reviews collection, in-built wallet and more. (Series F - €250M)
  • Rohlik - Czech grocery delivery startup well-known for good service and high customers’ satisfaction. It makes use of innovative technology and logistics to deliver the order within 90 minutes. (Series C - €119M)
  • eobuwie - Polish e-commerce fashiontech platform for footwear and accessories that integrates offline and online sales channels by a.o. introducing innovative esize.me services based on 3D scan recommendations, stationary shop concept without psychical shoe displays, and robot sales assistant. (Series undisclosed - €110.9M)
  • Zego - London-based company with Estonian founder providing commercial motor insurance to various vehicles as well as to self-employed drivers and riders. By using special technology, it saves time and money and makes motor insurance more straightforward. (Series C - €138M)
  • Printful - Latvian print-on-demand drop shipping and fulfillment company that helps people turn their ideas into brands and products. (€113M)
  • Grammarly - Ukraine-founded startup developing AI-powered writing assistant that helps users to communicate more clearly and effectively. It aims to improve everyday writing by correcting grammar mistakes, text quality & structure, providing suggestions and more. (€174M)
  • DocPlanner - Polish operator of a healthcare services booking platform and management software for doctors. Docplanner has completed an undisclosed round at a unicorn valuation (USD 1bn or more). Polish Development Fund estimates the round to €132M.
  • Gtmhub - Bulgarian company focused on helping companies implement OKRs  (Objectives and Key Results) to develop and execute a business plan efficiently. (Series C - €105M)
  • People.ai - Ukrainian AI-based platform focusing on catching revenues opportunities from every customer by capturing all customer contacts, activity and engagement. It provides business teams sales performance analytics, personalized coaching, one-on-one feedback, and pipeline reviews. (Series D - €92M)
  • Hyperscience - Bulgarian technology company that develops AI-based enterprise software designed to automate office work processes. The software uses machine learning to process structured and semi-structured documents, automate data entry, extract key details from invoices with aim to modernize mission-critical processes and operations for organizations and governments. (Series E - €87M)
  • Rossum - Czech AI-based cloud document gateway for automated business communication that relieves human teams of time-consuming data entry, connects all connected documents in a transaction, keeps transactions on track with automated data flows, and integrates documents with other corporate systems. (Series A - €86M)
  • Monese - Estonian fintech startup describing itself as a digital banking alternative providing multi-currency accounts in over 30 countries. The app enables users fast and easy account opening, Paypal and Avios integration as well as provides real-time spending notifications, budgeting tools and spending overviews. (Series C - €82.5M)
  • transferGO - Lithuanian startup offering an easy and convenient way to transfer money abroad within 30s by making use of its digital account-to-account business model. (Series C - €50M)
  • Glia - a startup from Estonia that reinvests the way businesses serve their customers by delivering in-person user experience including video, voice, chat, and co-browsing functionalities. Its aim is to increase conversions and provide the best quality customer support. (Series C - €72M)
  • Creatio - Ukrainian low-code platform making management process and CRM easier thanks to automation and tailored workflows. This software company aims to accelerate sales, marketing, service and operations for mid-size and large enterprises. (Venture round - €62.5M)
  • Rimac Automobili - Croatia-based startup focused on developing car technology by making use of electric propulsion systems. Expect manufacturing electric hypercars, Rimac provides also tech solutions to global automotive manufacturers. (Series undisclosed - €70M)
  • Productboard - Czech startup developing customer-centric product management platform which provides product analysis and helps understand customers’ major needs and preferences. It offers various app integrations along with tasks prioritization, insights, feedback and roadmaps. (Series C - €66M)
  • Uncapped - Polish-UK provider of revenue-based financing that enables founders to raise growth capital without interest or equity, and therefore access fair and flexible finance. The company also uses marketing, sales, and accounting data to be able to offer finance for young businesses based on their current and projected revenue. (Series B - €73M)
  • FintechOS - Romanian/UK startup developing technology that empowers banks and insurance companies in order to adapt to rapidly changing customer expectations. It aims to create personalized offerings by gathering data insights and automatically plugging them into every step of the customer journey. (Series B - €50M)
  • Veriff - an online identity verification company from Estonia helping companies to avoid online identity frauds and get the base of honest clients making use of  AI-powered identity verification and KYC solution. (Series B - €58M)
  • Booksy - Polish startup providing an online marketplace for managing and scheduling appointments making the communication between customers and health&beauty businesses more convenient and transparent. (Series B - €57.6M)
  • Bitrise - Budapest-based startup making the process of apps development easy and faster by providing visual workflow editior and ready service integrations, which makes the process transparent for the stakeholders - project managers, developers, testers and customers. (Series C - €53.5M)
  • Ramp - Polish app-building decentralized, robust infrastructure for crypto transactions making use of blockchain technology and open banking APIs. (Seed - €8.4M [June]; Series A - €46.5M [December])
  • Lokalise - Latvian platform that helps companies ensure that their software is fully tailored for each target market. The solution is based on collaborative translation that enables users to manage all their project translations and tasks from a single platform. (Series B - €44M)
  • ICEYE - Polish/Finnish developer and operator of its own commercial constellation of radar imaging satellites that helps clients resolve challenges in sectors such as maritime, disaster management, insurance, and finance. (€22M)
  • Whimsical - Latvian startup creating tools for workspace collaboration with a goal to make distributed work better than being in the same room by focusing on content and collaboration. (€26M).
  • Infermedica - Polish startup developing AI-driven platform that delivers rapid symptom triage and instructions to speed up patient healthcare. It aims to increase the efficiency of insurance companies, telemedicine companies and healthcare systems through fast, digital symptom checks. Their tools have already been used by over 6 million users worldwide and their solutions have been appreciated by companies like Microsoft, Allianz Worldwide Partners and PZU Zdrowie. (Series B - €26M)
  • Printify - Latvian marketplace offering free on-demand printing and dropshipping services for e-commerce merchants to allow them to focus on the creative part of designing and driving sales. (Series A - €42.2M)
  • Packhelp - Warsaw-based startup that simplifies the process of managing branded packaging by providing mailer boxes, product boxes, biodegradable mailers, kraft tapes along with an online editor for SMEs and packaging production, prototyping & visualizing, supply chain optimization for bigger enterprises. (Series B - €40M)
  • airSlate - Saas technology company from Ukraine providing no-code document workflows from document generation to contract signing which enables businesses to act faster and more efficiently. (Series B - €36.6M)
  • Maintainx - Romanian online-first workflow management platform simplifying day-to-day tasks and eliminating paperwork. It enables businesses to control the daily operations such as safety inspections or quality checks all with a digital audit trail. (Series B - €35.8M)
  • Preply - Ukrainian online tutoring marketplace matching tutors from over 185 countries with people willing to learn foreign languages. Users can access the platform anywhere and anytime and improve their communication skills thanks to well-structured learning plans. (Series B - €30.3M)
  • Novakid - edtech platform from Poland that connects children from all around the world with native-speaking English teachers by using innovative forms of teaching a.o. VR technologies and gaming which improve students’ efficiency. (Series B - €29.4M)
  • Skeleton Technologies - cleantech company from Estonia manufacturing and developing ultracapacitor-based cells, modules, and other components which results in helping companies to reduce CO2 emissions and save energy. (Series D - €29M)
  • SatRevolution - Polish company operating in the space industry that designs, manufactures and places nanosatellites around the Earth in order to get valuable observation data. (Series B - €26.5M)
  • Gideon Brothers - Croatian startup developing autonomous, mobile, collaborative and modular robots using AI and 3D tehnology in order to allow them to interact with the human-working environment and increase operational productivity and efficiency (Series A - €25.4M)
  • Interactio - Lithuanian multilingual meetings solution enabling to organize events and webinars in online, hybrid or on-site version ensuring technical support, network monitoring and real-time interpretation. (Series A - €24.4M)
  • Tylko - Poland-based D2C startup enabling users to design their own furniture that perfectly fits their space. The tool is easy and convenient to use so customers are not required to have any design skills to create and order their shelving. (Series C - €22M)
  • Proteon Pharmaceuticals - Polish biotech company that aims to improve human and animal health by developing microbiome protection. Its products increase environmental sustainability and economic efficiency in livestock farming. (Series undisclosed - €21M)
  • PVcase - PV software company from Lithuania that improves solar design operations worldwide. They focus on planning and incorporating 3D topographical data points to simulate the actual location of the solar plant.  (Series A - €19.9M)
  • FinGO - financial intermediary company from Slovakia, that focuses on delivering services of taking mortgages, investing, and life insurances. What is more, the company offers financial advice and the control of old contracts.  (€19.1M)
  • Photoneo - Bratislava-based startup providing AI-powered automation solutions & robotic intelligence software based on 3D technology which helps businesses to improve the performance and efficiency of their logistics operations. (Series B - €18.6M)
  • Twisto - Czech payment app dedicated to both online and offline shopping which offers buy-now-pay-later option, enables splitting bills among friends, supports in invoices management and more in a very clear and convenient way. (Series C - €16M)
  • Payhawk - Bulgarian software that simplifies expenses, payments, and card spending for growing businesses. The company's platform enables financial officers and business owners to manage the entire spending lifecycle end-to-end. (Series A - €16.8M)
  • Scoro - Estonian business management solution dedicated to professional and creative services. It helps businesses to streamline work and eliminate routine tasks in order to make their operations smooth and efficient. (Series B - €15M)
  • Vue Storefront - Polish startup offering front-end as a service solution for e-commerce companies that boosts site performance and improves customer experience. (Seed - €1.2M [January]; Series A - €15M [October])
  • Resistant AI - Czech startup using machine learning to protect AI systems from targeted manipulation, cyber-attacks, money laundering, and other financial frauds. (Series A - €14.3M)
  • Starship Technologies - robotics company from Estonia improving delivery services by developing autonomous robots and mobile technology enabling them to carry items and deliver them under the right address. It supports and lowers costs of restaurants and local shops owners. (Series undisclosed - €14M)
  • Documaster - Bulgarian platform delivering documentation solution, that enables users to manage all documents. What is more the company helps with the data migration of the old papers and offers scan services to allow users to keep all the documents in one place. (Venture round - €13.8M)
  • Bulletproof - Czech company, which mission is to provide financial security services. It offers to prevent emerging fraud, detect forgeries, manage and reduce false alerts. (Series A - €14M)
  • Tenderly - Serbian developer platform with comprehensive dashboard and a multifaceted API, that helps to build innovative blockchain products. (Series A - €12.8M)
  • Booste - Poland-based fintech startup developing a platform for e-commerce companies offering them revenue-based financing, expert advisory and business analysis in order to boost their development. (Series A - €12M)
  • Ready Player Me - Estonian cross-game avatar platform that enables users to create realistic 3D models by using ultrasound data. the startup also helps developers to integrate those avatars into existing games or VR applications. (Series A - €11.5M)
  • Kivi - a startup from Ukraine developing and manufacturing smart TVs with innovative designs, improved sound, highest image quality additional free channels and various TV integrations. (Series undisclosed - €10.7M)
  • Aurora - Ukrainian startup providing the Ethereum development experience and NEAR Protocol scalability for developers at the same time lowering their transactional costs. (Series A - €10.3M)
  • SEON. Fraud Fighters - Budapest-based startup providing businesses with a fraud management solution that collects all accessible data points about a customers’ digital footprint from open social sources and analyzes users' behaviour in order to create a safe working environment and let entrepreneurs focus on business development. (Series A - €10M)
  • Katana MRP - Estonian manufacturing and inventory software that helps to manage logistics and automate workflows by integrating all operations in one platform. It enables prioritizing orders and checking inventory resources in real-time. (Series A - €9.1M)
  • Fractory - Estonian platform that provides online metal fabrication services, including laser cutting and metal folding. After uploading needed documents, the algorithm chooses the best supplier and takes care of the whole process, starting from quoting to manufacturing and delivery, taking full responsibility. (Series A - €7.7M)
  • Cast AI - Lithuanian company that created AI-driven cost optimization platform, specially designed for Kubernetes to analyze bills and everyday savings, as well as to optimize the costs. (Series A - €9M)
  • Pactum - Estonia-based startup making use of AI technology to negotiate employee’s or vendor’s contracts and increase their value. It determines win-win agreements via an easy-to-use chat by implementing effective negotiation strategies. (Series A - €9M)
  • kevin - Lithuanian innovative payment infrastructure accessible via an API. It aims to unlock the potential of open banking by having better quality and lower costs comparing to card networks. (Seed - €8.6M)
  • Talkin’ Things - IoT startup from Poland manufacturing high-quality RFID & NFC tags and providing of end-to-end solutions for smart products. (Series A - €8.1M)
  • CGTrader - Lithuanian startup providing quality 3D content dedicated to e-commerce, gaming, or entertainment industries. The company offers both  CGTrader Marketplace with licensable 3D models and CGTrader Enterprise 3D Modeling where customers can transform 2D product images into 3D objects. (Series B - €7.8M)
  • FLOWX.AI - development platform from Romania enabling users without any coding skills to create mobile and web digital front-ends by making use of AI technology. (Seed - €7.4M)
  • Simplicity - Slovak cloud-based digital transformation startup developing smart-city communication platform for governments and residents. It aims to disrupt current ways of authorities-citizens interaction and boost communication efficiency. (Seed €7.3M)
  • SalesOn - Polish startup offering online channels with a dedicated training platform and tools that support the development of sales departments’ competencies. (€900k)
  • CodeCool - Hungarian company that provides coding education programs for both startup teams and individuals creating a global talent network including digital experts in order to reduce tech-skilled employees shortage. (Series C - €7M)
  • Craft - Budapest-based computer software company enabling to create, share and structure notes and documents by team members to improve the workflow and inner communication. (Series A €6.8M)
  • Single.Earth - Estonian fintech startup that makes the sustainable and eco-friendly approach a part of a business process by tokenizing natural resources and making carbon removal & biodiversity tradable. (Seed - €6.6M)
  • Amano.app - Polish startup reinventing the approach to post-shopping communication for both shoppers and shop owners by developing e-commerce platform that aggregates all online orders, logistics processes and promotional offers in one place.  (Pre-seed - €1.5M)
  • Jutro Medical - Polish telemedicine platform offering virtual healthcare including a.o. consultations, prescriptions or lab results as well as offline meetings with doctors already familiar with patients' health history. (Seed €6.5M)
  • Affise - partnership management platform from Lituania dedicated to advertisers and agencies to build and foster partnership relations via various marketing channels. (Series A - €6.4M)
  • Roofit.solar - a startup from Estonia developing solar panels technology by providing standing seam integrated photovoltaic module treated as a replacement of standard roofing materials. (Series A - €6.4M)
  • Scalarr - Ukrainian anti-fraud solution that applies machine learning and big data algorithms to protect users against the app-install ad fraud assuring high accuracy and proactive approach. (Series A - €6.1M)
  • CloudTalk - Slovak startup providing cloud-based call center software with integration to the helpdesk, CRM solution, and various business tools boosting customer satisfaction and employees’ efficiency. (Series A - €6M)
  • Bob Concierge - Romanian 24/7 automated tech unit providing individuals everything need starting from grocery ending up with various services in one place. Bob machine includes refrigerated minishop as well as pick-up point for parcels accessible via app. (Series A - €6M)
  • Estate Guru - Estonia-based startup that develops a marketplace facilitating property-backed short and mid-term loans for SMEs in order to bridge the gap between property and financing. (Series A - €5.8M)
  • Turbine - a healthcare startup from Hungary combining computer science with molecular biology to discover inner mechanisms of cancer and identify treatment options for various types of such a disease. (Series A - €5.7M)
  • Nethone - Warsaw fraud-prevention SaaS company which effectively prevents payment frauds and account takeovers based on analyzing customers' actions and many other variables that are taking place online. (Series A - €5.7M)
  • SonarHome - a real-estate expert company from Poland offering innovative iBuying services enabling quick and secure direct sale of the apartment. (Seed - €5.6M)
  • Minterest - Estonian lending protocol for decentralized financial that captures the value of interest rate, flash loan, and liquidation fees which are then passed on to the users. (Seed - €5.5M)
  • Sunroof - roof-tile and energy startup from Poland developing its own roof-tile technology that replaces traditional roofs and generates solar power at the same time enabling homeowners to sell surplus energy via the marketplace. ( Seed €4.5M [April]; Series A - undisclosed [July])
  • Telemedi - Polish digital healthcare platform offering innovative telemedicine solution by combining medical expertise with technology dedicated to insurance, assistance, healthcare and financial companies. (Seed - €5.5M)
  • Original Games - Estonian startup that offers various mobile games with deep player engagement created in cooperation with talented developers and artists from all over the world. (Seed - €5.2M)
  • Smart Hotel - Polish startup taking interaction between guests and hotels or Airbnbs to next level by implementing intelligent chatbot, online check-ins & check-outs, announcements automation, stuff management and business analytical tools. (Seed - $1M)
  • Sonarworks - Latvian startup operating in sound recording industry providing sound calibration software that improves headphones and speakers sound quality by making use of emerging audio technologies. (Series undisclosed - €5.1M)
  • Sundose - Polish startup developing personalized dietary supplements. The composition is tailored to individual customer’s body needs and prepared by scientists, dieticians and medical experts. (Series A - €5.1M)
  • Lingvist - Estonian language learning software that uses mathematical optimization, statistical analysis and smart algorithm to track the progress and deliver quality tools for various learning tactics. (Series undisclosed - €5.1M)
  • SPOKO - Polish-British fintech offering affordable money transfers both cash and online without the necessity of having a bank account with a guarantee of safe transaction and low fees. (Series A - €5M)
  • HiPets - Polish startup offering a booking system for pet parents where users can arrange visits with pet specialists. The system provides access to experts’ profiles, in-build chat, calendar and reminders set-up. (Pre-seed - $730k)
  • Ondato - startup from Lithuania providing KYC and AML management suite that enables its users photo and live video identity verification, data monitoring, due-diligence, risk scoring and case management. (Seed - €3.6M)
  • Ambire - Bulgarian startup providing full protocol for digital advertising that reduces risk of fraud, optimize advertising budgets, and protects user privacy as well as cryptocurrency wallet helping to save, exchange and easily manage crypto assets. (Seed - €2.2M)
  • Plenti - Warsaw-based startup providing an possibility to rent consumer tech electrionics to enable access to new technologies with low budgets and prevent consumers from the wrong buying decisions. (Seed €1.2M)
  • Accomango -  Czech B2B software as a service marketplace optimizing the process of searching the accommodation for manual workers. (Seed - €1.5M)
  • Smabbler - cause-effect reasoning language engine that analyzes and unlocks knowledge from diverse textual data assets. This Polish startup develops the most advanced NLP engine that makes it possible to unify and systematically analyze customer interaction data across all communication channels. (Convertible note - amount undiscolsed)
  • Rezuro - Polish startup providing the click-to-rent marketplace with modern furnished rooms or apartments. It connects tenants with hosts and allow them to manage all formalities and payments online without any additional fees. (Pre-seed - €390k)
  • Tachyum - a single processor delivering industry performance for data center, AI, and HPC workloads and at the same time, enabling data centers to exceed the capacity of the human brain.  (Series B - undisclosed)

Related Posts:

VC Transactions in CEE Report - 2021 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)

TOP 100 CEE Startups That Closed Funding Rounds In 2020 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)

Reports#Funding#CEE


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