Today, we're taking a deep dive into the most interesting CEE fundraising rounds in February 2023. This time around, investors were particularly interested in edtech, foodtech, artificial intelligence, information technology, e-commerce, the service industry and SaaS.
Let's discover the top ten startup funding rounds in Central and Eastern Europe in February!
TOKHIT
Location: Bucharest, Romania
Launch date: Unknown
Funding Round: €93.6M
Funding Source: Undisclosed
Total funding received: €93.8M
TOKHIT is a Blockchain-powered gamified social app where creators, influencers and crypto enthusiasts share experiences, and connect with their followers. It is a platform where all users can earn cryptocurrency rewards for their in-app activity. Every published post is distributed to as many other users as possible by an innovative AI algorithm, assisting creators in gaining new followers. The startup got €96.6M from an unknown investor during the second round of investment.
Veridion
Location: Bucharest, Romania
Launch date: 2019
Funding Round: €5.6M
Funding Source: LAUNCHub Ventures, OTB Ventures, Underline Ventures
Total funding received: €7M
Veridion, founded in 2019 in Romania, provides business data enrichment with unprecedented coverage of SMBs, accurate classification and in-depth insights based on real-time updates. Driven by the complexity of AI and Machine Learning, Veridion builds more efficient ways of getting more data and getting more out of it. Urged on reliability and completeness, Veridion datasets have yet to be beaten in terms of accuracy and classification by industry mammoths. LAUNCHub Ventures, OTB Ventures, Underline Ventures just invested €5.6M.
Plenti
Location: Warsaw, Poland
Launch date: 2018
Funding Round: €6.4M
Funding Source: 4growth VC, RST Ventures For Earth
Total funding received: €7M
Plent is a rent tech on-demand that offers fast, easy, and safe access to consumer electronics. Plenti's goal is to allow users to explore, an abundance of choices, as well as the freedom to own. They promote the idea of a sharing economy. The startup believes in access over ownership. They recently secured €6.4M in funding from 4growth VC, RST Ventures For Earth.
Transmetrics
Location: Sofia, Bulgaria
Launch date: 2013
Funding Round: €2.5M
Funding Source: European Innovation Council
Total funding received: €7.3M
Transmetrics, funded in 2013 in Bulgaria, optimizes logistics planning and asset management by leveraging the power of predictive analytics and artificial intelligence. The startup combines the strengths of humans with those of AI, ensuring the highest operational benefits, and reducing the environmental impact of logistics. Transmetrics has developed a unique approach for analyzing, modelling, and predicting transport flows with very high accuracy. They recently raised €2.5M from European Innovation Council.
VOOL
Location: Tallinn, Estonia
Launch date: 2018
Funding Round: €1.7M
Funding Source: Specialist VC
Total funding received: €4.7M
Founded in 2018 VOOL is the first complete EV charging solution offering reliable, smart, and cost-efficient charging for business and private customers, thus making the transition to green energy faster, more affordable and hassle-free. The startup solves problems with current charging solutions - the majority of them use only 1/3 of the total available grid capacity, and the rest is left unused. The company recently raised €1.7M from Specialist VC.
Bloomcoding
Location: Tallinn, Romania
Launch date: 2021
Funding Round: €1M
Funding Source: Credo Ventures, Inovo VC, u.ventures
Total funding received: €1.1M
Bloomcoding is the biggest digital coding school for children in Romania, where kids learn to code by building Virtual and Augmented Reality experiences. The startup uses a blend of Virtual and Augmented Reality Ed-Tech, in small live online classes, to re-imagine education, spark curiosity, and blend fun with learning. Bloomcoding is currently one of the fastest-growing startups in Moldova and the biggest digital school in Romania, with over 800 students enrolled. Credo Ventures, Inovo VC, u.ventures recently invested a total of €1M in the company.
Vidi-X
Location: Zagreb, Croatia
Launch date: Unknown
Funding Round: €600K
Funding Source: Feelsgood
Total funding received: €600K
VIDI-X makes excellent use of the powerful dual-core ESP32 processor. VIDI Project X gathers all people and institutions to create innovative work settings to inspire the younger generation to work on new projects individually and in a group that could develop into a startup. The goal is to allow students access to the best technology that supports their learning process and sparks their curiosity to look for discoveries to make them more educated and rounded people that will contribute to society as a whole to become more educated, tolerant and socially equal. They recently raised €600K in their pre-seed round from Feelsgood.
CosmoEye
Location: Lublin, Poland
Launch date: 2022
Funding Round: €400K
Funding Source: Arkley Brinc VC
Total funding received: €827K
CosmoEye is developing a B2B streaming system for warehouse management and enterprise resource planning. The system provides companies using video surveillance with solutions to find, recognize and classify events on the screen and take appropriate action to solve common problems faced by companies. Technology enables scalability, workflow automation, and customized experiences. Recently, is raised €400K in seed funding from Arkley Brinc VC.
TouchMenu
Location: Sofia, Bulgaria
Launch date: 2020
Funding Round: €370K
Funding Source: New Vision 3
Total funding received: €370K
TouchMenu is a tool that helps to have quick access to a list of items and services. The startup provides a complete digital platform that includes digital menu management, order acceptance, easy booking, various loyalty programs and more. The aim of TouchMenu is the digitalization of the business, improving service, reducing operating costs and increasing revenue. It recently raised €370K in a seed round from New Vision 3.
Brain Foods
Location: Sofia, Bulgaria
Launch date: 2020
Funding Round: €250K
Funding Source: Vitosha Venture Partners
Total funding received: €250K
Founded in 2020 Brain Foods strives to actively participate in the global effort to reduce the consumption of animal products in food and beverage production and to put an end to the exploitation of animals throughout the entirety of their supply chains. The startup aims to provide nourishment for both the mind and body by enhancing the flavour and nutritional value of our favourite culinary delights. The firm recently secured €250K in seed funding from Vitosha Venture Partners.
Sources: Vestbee VC & startup community, startup press releases, web & social media monitoring, Crunchbase
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