CEE funding rounds by Vestbee
15 March 2021·6 min read

Konrad Koncerewicz

Head of VC & Startups, Vestbee

TOP CEE Funding Rounds Closed In February 2021

February, 2nd month of 2021 showed that the CEE startup ecosystem, despite the beginning of the year, is not letting go at all. Investments’ amounts are constantly increasing, and as a result the disclosed funding on the market in CEE exceeded €40M, which was a 33% increase compared to the previous month where startups secured over €30M. The biggest investment was secured by Estonian Katana MRP (inventory and manufacturing software provider), which series A round collected €9.2M. Among the top areas that attracted investors’ attention were SaaS, fintech, gaming, and VR.  

Now, let’s have a look into TOP February startup funding rounds in CEE!

 

Katana MRP

Location: Tallinn, Estonia
Launch date: 2017
Funding Round: Series A  €9.2M
Funding Source: 42CAP, Atomico, Kairi Pauskar, Ott Kaukver, Sergei Anikin, Sten Tamkivi
Total funding received: €13.4M

Tallinn-based, Katana MRP is an inventory and manufacturing software that allows its customers to track materials, get real-time updates and plan production, make automatic inventory adjustments or even manage outsourcing manufacturing. The company has recently secured €9.2M in the February series A round and the proceeds will be spent on expanding the team and scaling the business globally. Among the investors participating in the round were Atomico, 42CAP and various business angels - Kairi Pauskar, Ott Kaukver, Sergei Anikin and Sten Tamkivi.

HiPets

Location: Warsaw, Poland
Launch date: 2020
Funding Round: Pre-seed €600K
Funding Source: Next Road Ventures, SMOK Ventures
Total funding received: €650K

Warsaw-based HiPets is an all-in-one, SaaS embedded marketplace for pet parents. A startup allows customers to arrange a visit for a pet at any time of the day or night, create a pet profile with a history of visits, and choose the most appropriate specialist based on real reviews. HiPets has recently secured a Pre-seed round in the amount of €600K from Polish VC funds - Next Road Ventures and SMOK Ventures. The proceeds will be used for boosting the expansion and further development of the solution.

Zelf

Location: Riga, Latvia
Launch date: 2019
Funding Round: Pre-seed  €1.6M
Funding Source: 3VC, Chris Adelsbach, Hard Yaka, Seed X Liechtenstein, Yair Goldfinger
Total funding received: €1.6M

Latvian Zelf, founded in 2019, is a fintech providing access to all the basic banking operations. Via startup services ordering a card takes only 30 seconds and it can be made  via Facebook messenger or other most popular communication apps. The startup has recently secured €1.6M in a pre-seed round and the obtained financing will be allocated to boosting growth and expanding services through Europe. The funding round was led by 3VC accompanied by Seed X Liechtenstein, Hard Yaka and Yair Goldfinger.

Natufia Labs

Location: Tallinn, Estonia
Launch date: 2014
Funding Round: Series A €2.9M
Funding Source: Butterfly Ventures, KAUST Innovation Fund
Total funding received: €3.9M

Estonia-based Natufia Labs is a foodtech startup developing machine-learning-powered hydroponic kitchen gardens (self-contained cabinets that provide all needed combination of water, lighting and nutrients) allowing chefs and clients to grow sustainable and quality products. Apart from securing funding in the amount of €2.9M in series A round, the startup is set to relocate to Saudi Arabia in order to further develop its solution there. The investment round was led by KAUST Innovation Fund and was accompanied by Butterfly Ventures. The proceeds will be used for further research and development of the solution. 

Questo

Location: Bucharest, Romania
Launch date: 2017
Funding Round: Seed €1.2M
Funding Source: Early Game Ventures, Sparking Capital
Total funding received: €1.5M

Romanian Questo, founded in 2017, is a travel tech startup offering city exploration games for travelers and locals to make holidays, sightseeing or lazy days more exciting. By solving riddles, telling stories and “unlocking” new places, the mobile application also supports the process of “learning” the city. Its latest round in the amount of €1.2M (as a continuation of last year's investment) was led by Early Game Ventures and was accompanied by Sparking Capital. Funds provided by the mentioned investors will be allocated in accelerating the company’s growth and further expansion.

CloudTalk

Location: Bratislava, Slovakia
Launch date: 2018
Funding Round: Series A  €6M
Funding Source: henQ, Point Nine
Total funding received: €7.3M

Bratislava-based CloudTalk founded in 2018 provides cloud-based software as a service call the center solution. Besides handling incoming and outgoing calls, CloudTalk also reduces time consumption by offering virtual call centers and outbound and sales support. The startup has recently closed the series A round in the amount of €6M from henQ and Point Nine and secured funds will be used to expand marketing activities and support the development & commercialization of the solution.

Orqa

Location: Osijek, Croatia
Launch date: 2018
Funding Round: Seed €1.4M
Funding Source: Day One Capital
Total funding received: €1.7M

Founded in 2018, Croatian Orqa is a technology company developing First Person View and Remote Reality solutions for remotely operated drones and autonomous vehicles. Their latest product Orqa FPV.One is a premium headset designed especially for drone racing, drone freestyle and FPV simulations. Recently secured funds during a seed round in the amount of €1.4M led by Day One Capital will be allocated to the further development of technology and expanding the engineering team.

Boommio

Location: Vilnius, Lithuania
Launch date: 2020
Funding Round: Pre-seed €250K
Funding Source: 70Ventures
Total funding received: €250K

Boommio is a Lithuanian customer engagement and acquisition platform. It can significantly simplify the processes of increasing product sales, building brand awareness and recognition, attracting new customers and therefore increase engagement, revenue and decrease time consumption. The startup has recently secured €250K in a pre-seed round led by 70Ventures. The proceeds will be allocated to the further development of the platform and expanding sales and marketing activities in the Baltics region. 

Binalyze

Location: Tallinn, Estonia
Launch date: 2018
Funding Round: Seed €1.5M
Funding Source: Earlybird Venture Capital
Total funding received: €1.5M

Founded in 2018, Estonian Binalyze is a cyber-security startup developing enterprise digital forensics and incident response software. The tool allows customers to remotely acquire evidence, create tasks to automatically perform checks and counteract violations. Among the company clients there are well-recognized consulting firms like PwC and Deloitte. Recently, the startup’s efforts have been noticed by Earlybird Venture Capital, who led the Seed investment round in the amount of €1.5M. Secured funds will be used for further development of the solution.

U24 Solutions

Location: Tallinn, Estonia
Launch date: 2017
Funding Round: Venture Round €1M
Funding Source: MSD Service, Thorgate Ventures
Total funding received: €1M

Estonian U24 Solutions is a software development studio specializing in the development of virtual reality games and software. This company that aims to make VR available and attractive to fans, who don’t own VR headsets has recently secured €1M round from MSD Service and Thorgate Ventures. Secured funds will be used for further work on the VR game “Cradle of Sins” and the development of other VR multiplayer game solutions. 

 

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

 

 

Related Posts:

TOP CEE Funding Rounds Closed In January 2021 (by Konrad Koncerewicz, Community Builder, Vestbee)

TOP CEE Funding Rounds Closed In December 2020 (by Konrad Koncerewicz, Community Builder, Vestbee)

TOP CEE Funding Rounds Closed In November 2020 (by Konrad Koncerewicz, Community Builder, Vestbee)



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