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cee funding rounds april by vestbee
10 May 2022·6 min read

Konrad Koncerewicz

Head of VC & Startups, Vestbee

TOP CEE Funding Rounds Closed In April 2022

Today, we are going deep into interesting CEE funding rounds that took place in April, the first month of Q2 2022. This time, the SaaS, e-commerce, cyber-security and fraud detection attracted investor's interests. 

Let’s discover TOP April startup funding rounds in CEE!

SEON

Location: Budapest, Hungary
Launch date: 2017
Funding Round: Series B €83.3M
Funding Source: Creandum, Institutional Venture Partners, PortfoLion Capital Partners
Total funding received: €102.5M

Founded in 2017, Hungarian SEON is a fraud prevention startup developing software to detect fraud in real-time through transactional data analysis and therefore assists fintechs like Revolut with addressing online frauds. The startup has recently secured a series B round in the amount of €38.3M led by Institutional Venture Partners and accompanied by Creandum and PortfoLion Capital Partners. Secured financing will be allocated to implementing various tools for preventing sanctions evasion by Russia.

Eurora

Location: Tallinn, Estonia
Launch date: 2018
Funding Round: Series A €36.9M
Funding Source: Change Ventures, Connected Capital, Equity United, business angel
Total funding received: €39.8M

Estonian Eurora Solutions, founded in 2018, is an AI-based and machine learning-backed cross-border compliance platform for e-commerce. This startup takes care of all cross-border trade regulations so businesses can focus on what really matters - their core activities. Eurora has recently secured a €36.9M series A round from Change Ventures, Connected Capital, Equity United, and the business angel (Eurora’s founder), while secured funding will be used for expanding activities in the UK, the US, and the Middle East.

Montonio

Location: Tallinn, Estonia
Launch date: 2018
Funding Round: Series A €11M
Funding Source: 365.fintech, ff Venture Capital, Index Ventures, Practica Capital, Superangel, Tera Ventures
Total funding received: €14.8M

Estonian Montonio is an e-commerce checkout solution. The company facilitates payments, integrates with several Buy Now, Pay Later (BNPL) financing options, handles deliveries & refunds and supports card payments through cooperating with partners. The startup has recently secured €11M Series A round from 365.fintech, ff Venture Capital, Index Ventures, Practica Capital, Superangel, and Tera Ventures. The raised funding will be allocated to supporting the expansion and product development. 

Mindgram

Location: Warsaw, Poland
Launch date: 2021
Funding Round: Seed  €7M
Funding Source: Credo Ventures, Market One Capital, Nunatak Capital, Pamoja Capital Group, PortfoLion Capital Partners
Total funding received: €9.3M

Warsaw-based Mindgram, founded in 2021, is a science-based platform and mobile app for complete mental wellness. This all-in-one solution helps companies to grant their teams holistic emotional and mental well-being support and therefore to build their resilience and drive performance. The startup has recently secured a seed round in the amount of €7M led by Credo Ventures with participation from Market One Capital, Nunatak Capital, Pamoja Capital Group, and PortfoLion Capital Partners. Raised funds will be used for European expansion. 

Bunnyshell

Location: Bucharest, Romania
Launch date: 2018
Funding Round: Seed  €3.8M
Funding Source: Early Game Ventures, Roca X
Total funding received: €6M

Romanian Bunnyshell, founded in 2018, is an Environment-as-a-Service (EaaS) platform to deploy, scale, and optimize applications, and therefore remove the bottleneck of creating and managing increasingly complex environments for any application. The startup has recently been supported by Early Game Ventures, and Roca X, who participated in the seed round of €3.8M. Secured funding will be used for expanding its activities and operations in the US market.

Alphamoon

Location: Wroclaw, Poland
Launch date: 2018
Funding Round: Seed €2.1M
Funding Source: National Center for Research and Development, SATUS Starter, Sunfish Partners
Total funding received: €2.1M

Alphamoon is a Polish AI-powered platform that helps companies automate their document processing by extracting valuable document data. The recently secured seed round in the amount of €2.1M was based on a combination of equity and R&D grants. The equity round was led by Sunfish Partners, with the participation of Satus Starter, while R&D grants were provided by Poland’s National Centre for Research and Development. 

Rush

Location: Sofia, Bulgaria
Launch date: 2020
Funding Round: Seed €2.5M
Funding Source: Eleven Ventures, LAUNCHub Ventures, business angels
Total funding received: €2.7M

Bulgaria-based Rush is an order tracking & notifier SaaS that turns shipment tracking pages into marketing opportunities by supporting the post-purchase communication between Shopify merchants and their customers. The startup recently secured a €2.5M seed round co-led by well-recognized Bulgarian VCs - Eleven Ventures and LAUNCHub Ventures, with plans to use the funding for further development of the tool. The round was also joined by various business angels.

Doctor.One

Location: Warsaw, Poland
Launch date: 2021
Funding Round: Seed €2.1M
Funding Source: Atlantic Labs, Movens Capital
Total funding received: €2.5M

Warsaw-based Doctor.One is a Polish healthcare startup that introduced the next-generation virtual clinic with a mission to help patients get better access to doctors online. Doctor.One has been recently supported by Atlantic Labs and Movens Capital which participated in the seed round of €2.1M. The secured funds will be allocated to speeding up its European expansion, as well as to further platform development.

Kwota

Location: Tallinn, Estonia
Launch date: 2021
Funding Round: Pre-seed €1.5M
Funding Source: Change Ventures, Greenco, Lemonade Stand, Startup Wise Guys, Vestman Energia, business angel
Total funding received: €1.5M

Founded in 2021, Estonian Kwota, is a cleantech company that aims to establish a global standard that will validate and trade carbon emissions savings from using recycled materials in production. The startup has recently secured a €1.5M pre-seed round from Change Ventures, Greenco, Lemonade Stand, Startup Wise Guys, Vestman Energia, and business angel, while raised funding will be used for further solution development. 

DriveX Technologies

Location: Tallinn, Estonia
Launch date: 2019
Funding Round: Seed €950K
Funding Source: DEPO Ventures, EstBAN, Lithuanian Business Angel Network, Plug & Play, Startup Wise Guys, business angels
Total funding received: €1.2M

Founded in 2019, Tallinn-based startup DriveX Technologies is an AI-powered remote vehicle inspection reducing fraud in claims and policy sales. The startup helps companies to inspect vehicles remotely and therefore save costs, reduce fraud risk and provide a better, digital customer experience. The company has recently closed the pre-seed round in the amount of €950K from DEPO Ventures, EstBAN, Lithuanian Business Angel Network, Plug & Play, Startup Wise Guys, and various business angels while secured funds will be used for product development.

Sources: Vestbee VC & startup community, startup press releases, web & social media monitoring, Crunchbase.

Related Posts:

TOP CEE Funding Rounds Closed In March 2022 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)

TOP CEE Funding Rounds Closed In February 2022 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)

TOP CEE Funding Rounds Closed In January 2022 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)

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