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top cee funding rounds by vestbee.com
12 March 2024·6 min read

Konrad Koncerewicz

Head of VC & Startups, Vestbee

TOP CEE Funding Rounds Closed In February 2024

Each month, Vestbee compiles a roundup of the most noteworthy financial rounds completed in Central and Eastern Europe and the broader European region. Get acquainted with the top 12 startup funding rounds concluded in CEE during February.

Project 3 Mobility

Location: Zagreb, Croatia
Launch date: 2010
Funding Round: Series A, €100M 
Funding Source: Neurone, TASARU Mobility Investments
Total funding received: €280M

Based in Croatia, Project 3 Mobility is working on a comprehensive urban transportation system, complete with a dedicated app, electric vehicles, and autonomous technology infrastructure. With secured funding of €100 million, the startup plans to further develop these components and expand its team. Investors include Neurone and TASARU Mobility Investments.

Tuum

Location: Tallinn, Estonia
Launch date: 2019
Funding Round: Series B, €25M
Funding Source: CommerzVentures, Speedinvest
Total funding received: €45M

Tallinn-based startup Tuum is developing a banking platform that enables banks, fintech, and non-financial companies to roll out new financial products. Utilizing an API-based approach, it ensures swift integration with existing systems and supports deployment on various cloud environments. Tuum has recently secured €25 million Series B round from CommerzVentures and Speedinvest.

Saleor Commerce

Location: Wroclaw, Poland
Launch date: 2019
Funding Round: seed extension round, €7.3M
Funding Source: Cherry Ventures, Kevin Mahaffey (SNR VC), Target Global, TQ Ventures, Zalando
Total funding received: €9.2M

Saleor is a startup with roots in both Poland and the U.S., developing an open-source headless e-commerce platform. This platform serves as the backbone for creating online stores, providing developers with the flexibility to design custom front-ends, while Saleor's API handles the complex backend operations required for seamless online shopping experiences. The startup has recently secured a seed extension round from Cherry Ventures, Kevin Mahaffey (SNR VC), Target Global, TQ Ventures, and Zalando.

Edrone

Location: Krakow, Poland
Launch date: 2016
Funding Round: venture round, €4.6M
Funding Source: Atmos Ventures, Inventures, Muller Medien, PortfoLion Capital Partners
Total funding received: €9.8M

Edrone develops an e-commerce CRM platform that provides marketing automation solutions. Operating autonomously, it gathers and analyzes customer data to gain insights into their behavior. With its e-commerce marketing cloud, Edrone empowers businesses to automate marketing tasks and engage with store visitors, ultimately driving sales growth. Having recently secured funds from Atmos Ventures, Inventures, Muller Medien, and PortfoLion Capital Partners, the startup plans to expand its Brazil branch.

Choice

Location: Prague, Czech Republic
Launch date: 2020
Funding Round: seed, €2.3M
Funding Source: J&T Ventures, Presto Ventures, Reflex Capital
Total funding received: €4.6M

Choice is a Czech-Ukrainian startup that develops B2B subscription service for restaurants. Its solution streamlines restaurant operations by offering a suite of business tools accessible from a single platform. This includes website creation, mobile applications, online menus with QR code payments, table reservation management, CRM system integration. The startup raised €2.3M in a recent round from J&T Ventures, Presto Ventures, Reflex Capital. 

Evergrowth

Location: Vilnius, Lithuania
Launch date: 2023
Funding Round: pre-seed, €2M
Funding Source: Impellent Ventures, Practica Capital
Total funding received: €2M

Evergrowth is a B2B sales platform that uses AI to create customer-focused sales strategies, revolutionizing how businesses connect and thrive. With AI-driven sales workflows and data analysis tools, Evergrowth enables sales teams to capture, recycle, and expand their market. Startup has recently secured €2 million pre-seed round from Impellent Ventures and Practica Capital, making it one of the biggest pre-seed rounds in the Baltics.

Axiology

Location: Vilnius, Lithuania
Launch date: 2018
Funding Round: venture round, €2M
Funding Source: Baltic Sandbox Ventures, Coinvest Capital
Total funding received: €2.6M

Axiology provides a tokenized securities depository, leveraging distributed ledger technologies for tokenized sustainable securities. Operating under the EU DLT Pilot Regime, it enables regulated financial players to issue, trade, and settle tokenized financial assets. With €2 million secured from Baltic Sandbox Ventures and Coinvest Capital, the funds will fuel the development of a compliant infrastructure.

Aleet

Location: Lublin, Poland
Launch date: 2018
Funding Round: seed, €1.2M
Funding Source: CofounderZone, FundingBox Deep Tech Fund
Total funding received: €1.4M

Aleet is developing AI-based technology, offering solutions tailored to the specific needs of clients in the transportation industry, encompassing both passenger and freight transport. These solutions include the automation of transportation processes, fleet management, and transportation order systems, as well as the optimization of transportation systems. The company has recently closed its seed round, securing €1.2 million from CofounderZone and FundingBox Deep Tech Fund.

Cognitiwe

Location: Tallinn, Estonia
Launch date: 2021
Funding Round: seed, €1M
Funding Source: Caucasus Ventures, DOMiNO Ventures, Eleven Ventures, Flat6Labs, TechOne VC
Total funding received: €1.5M

Cognitiwe is an Estonian startup that develop AI solutions for visual analysis. It provides a variety of products for fresh food retailers, enabling them to analyze the freshness, stock levels, and sales performance of their shelf stocks. This helps retailers minimize food waste and preserve resources and materials. Startup secured a €1 million seed round from Caucasus Ventures, DOMiNO Ventures, Eleven Ventures, Flat6Labs, and TechOne VC.

1.security

Location: Lodz, Poland 
Launch date: 2022
Funding Round: pre-seed, €460l
Funding Source: Sunfish Partners
Total funding received: €1M

1.security is a cybersecurity platform operator specifically tailored for managing the Microsoft environment. Their platform empowers customers to handle third-party app permissions, access real-time insights through Microsoft 365 reporting, and identify threats, ensuring the secure management of their data. The company recently secured €460K in a pre-seed funding round from Sunfish Partners.

Upheal

Location: Prague, Czech Republic
Launch date: 2021
Funding Round: seed, €3M
Funding Source: KAYA VC, Credo Ventures, Inovia Ventures
Total funding received: €4M

Upheal provides an AI-powered mental health platform for clinicians. The startup claims it saves time by handling note-taking and transcribing sessions, facilitating secure video calls, and organizing data into summaries and analytics. The platform assists therapists in streamlining their clinical workflows, freeing up time spent on administrative tasks such as writing progress notes and treatment plans. Upheal has recently secured €3 million in a seed round from Kaya VC, Credo Ventures and Inovia Ventures with plans to use the funding towards the expansion of AI capabilities. 

PeopleForce 

Location: London, UK (Ukraine-founded)
Launch date: 2018
Funding Round: seed, €1.8M
Funding Source: Pracuj Ventures 
Total funding received:  €2.5M

PeopleForce is an HR platform that aims to enhance the employee experience and simplify HR tasks throughout the employee life cycle. The platform's primary objective is to automate tasks, allowing HR professionals to dedicate more time to nurturing talent and fostering their development. The startup recently secured €1.8 million in a seed round from Pracuj Ventures, with plans to allocate the funds to accelerating product development.

Related Posts:

TOP CEE Funding Rounds Closed In January 2024 (by Katarzyna Skoneczna, Editor, Vestbee)

TOP CEE Funding Rounds Closed In January 2024 (by Katarzyna Skoneczna, Editor, Vestbee)

TOP CEE Funding Rounds Closed In November 2023 (by Katarzyna Skoneczna, Editor, Vestbee)

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