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07 February 2024·7 min read

Katarzyna Skoneczna

Editor, Vestbee

TOP CEE Funding Rounds Closed In January 2024

Discover the latest technological innovations from Central and Eastern European startups in January. Delve into the article to uncover the top CEE startups that secured funding last month!


Location: USA (Polish founders)
Launch date: 2022
Funding Round: Series B, €73M
Funding Source: SVA, Credo Ventures, BroadLight Capital, ElevenLabs, Sequoia Capital, Smash Capital, Andreessen Horowitz, Angel Investors 
Total funding received: €94M

ElevenLabs, a voice technology research company, secures a substantial €73M in Series B round led by Andreessen Horowitz, with participation of, among others, Sequoia Capital and SV Angel. The investment aims to solidify ElevenLabs' global leadership in voice AI research and product deployment. With this capital infusion, ElevenLabs plans to advance its research, expand infrastructure, develop tailored products for specific industries, and strengthen ethical AI practices. 


Location: Bratislava, Slovakia
Launch date: 2016
Funding Round: Series B, €26M
Funding Source: henQ, KPN Ventures, Lead Ventures, ORBIT Capital, Point Nine, Presto Ventures
Total funding received: €34M

CloudTalk is a Bratislava-based AI-powered calling solution. The company raised €26M in Series B. The round was co-led by KPN Ventures and Lead Ventures, with continued support from existing investors. Raised funding will accelerate growth and enhance the company's cloud phone system with AI features like dialers and speech recognition. CloudTalk aims to improve customer experiences for businesses, offering cloud-based call center software with native CRM integrations.


Location: Sofia, Bulgaria
Launch date: 2017
Funding Round: Series A, €8M
Funding Source: Invenio partners
Total funding received: €22.5M

Nasekomo, a European scale-up operating in France and Bulgaria, secures €8M in Series A, led by Invenio Partners. Nasekomo aims to advance insect farming for sustainable protein production, addressing global food challenges and promoting circular economy practices. With this capital boost, the company plans to establish state-of-the-art insect bioconversion facilities across Europe and expand globally. 


Location: Bratislava, Slovakia
Launch date: 2022
Funding Round: Seed, €1M
Funding Source: Vision Ventures, Jinej fond, Angel Investors
Total funding received: €1M

Bratislava-based CloseRocket has secured a €1M seed round from Vision Ventures, Czech Jinej fond, and Angel Investors. CloseRocket offers a B2B sales platform aiding companies in finding and engaging sales talent. CloseRocket currently boasts a monthly revenue exceeding €40K. With features like access to a global network of professionals, sales strategy development tools, and a reporting system, the platform assists businesses in scaling their sales efforts. 


Location: Wroclaw, Poland
Launch date: 2021
Funding Round: Seed, €402K
Funding Source: EKIPA Investments, Tar Heel Capital Pathfinder, Angel investors
Total funding received: €402K

Polish edtech startup Multilango receives around €400,000 (PLN 1.75 million) investment from Tar Heel Capital Pathfinder, EKIPA Investments, and Angel investors. Multilango offers a platform for employers to provide language learning as a benefit to employees. Users can access one-on-one online sessions with instructors in sixteen languages..


Location: Tallinn, Estonia
Launch date: 2022
Funding Round: Pre-seed, €46.5K
Funding Source: ZAS Ventures
Total funding received: €279K

Fintellect is a specialised financial tool designed for project-based firms. Through seamless integration with banking, project management, and CRM platforms, it provides transparent insights into team economics, hourly rates, and project profitability. All this is delivered through our sleek, user-friendly interface. Startup has raised €46.5K in a pre-seed round from ZAS Ventures.


Location: Tallinn, Estonia
Launch date: 2020
Funding Round: Seed, €725K
Funding Source: 3 Comma Capital, Startup Wise Guys, Trind VC
Total funding received: €855K

Estonian startup Scorestars raises €725K in seed round led by Trind VC, Startup Wise Guys, and 3 Comma Capital. The platform offers fan engagement for basketball enthusiasts, allowing users to collect digital cards and manage virtual teams. With partnerships in leagues like Turkish and Basketball Champions League, Scorestars targets younger audiences. The funding will fuel expansion into new markets and team growth, with a focus on becoming the premier second screen for sports fans.


Location: Lviv, Ukraine
Launch date: Undisclosed
Funding Round: Pre-seed, €46.5K
Funding Source: ZAS Ventures
Total funding received: €46.5K

CloudAvocado, a Ukrainian startup, raised €46.5K from ZAS Ventures in a pre-seed round. The investment will enhance business development and marketing efforts, with ZAS Ventures providing consultancy support. CloudAvocado's product optimises cloud costs on AWS, offering real-time analytics and environmental impact advice.


Location: Olsztyn, Poland
Launch date: 2018
Funding Round: Series Undisclosed, €459K
Funding Source: Freya Capital
Total funding received: €3.6M

ZeroQs has developed SmarCart, a mobile self-checkout technology. This innovation elevates customer satisfaction by reducing queue lengths, improves retail profitability by alleviating staff burdens, increasing average basket value, and providing theft protection. Furthermore, it enhances FMCG producer revenue through personalised in-store marketing initiatives. The company id backed by Freya Capital and has recently secured €459K.


Location: Székesfehérvár, Hungary
Launch date: 2023
Funding Round: Pre-seed, €782K
Funding Source: Solus Capital, STRT Holding, Angel Investors
Total funding received: €782K

Quino is a learning enhancement tool that leverages the capabilities of Natural Language Processing (NLP) to streamline studying processes. By analyzing extensive text data, it accelerates learning and facilitates knowledge assessment. Quino provides features such as automatic summaries, bullet point notes, semantic search, and question-answering tools to aid in studies. Additionally, it generates quiz questions to evaluate knowledge and pinpoint areas for improvement. Collaborative learning with friends is also facilitated through the platform. The company has recently raised €782K in its pre-seed series from Solus Capital, STRT Holding and Angels Investors. 


Location: USA (Ukrainian founders)
Launch date: 2017
Funding Round: Seed, €2.7M
Funding Source: STRATMINDS, Flyer One Ventures, Verras Capital, SMRK Fund, Transform Partners Fund
Total funding received: €6.8M

Competera, a startup offering intelligent price optimization for retailers, secures €2.7M in seed round to expand into the US market. Investors include STRATMINDS, Flyer One Ventures, Verras Capital, SMRK Fund, and Transform Partners Fund. Competera's platform uses deep-learning techniques to generate optimal prices based on real-time market data. The funding will fuel AI enhancement, service expansion, and scaling operations. 


Location: Cracow, Poland
Launch date: 2016
Funding Round: Series A, €4.6M
Funding Source: INventures, PortfoLion, Atmos Ventures, Angel Investors
Total funding received: €10.1M

Polish martech startup edrone raised €4.6M in a round led by INventures. The company specialises in marketing automation and CRM systems for e-commerce. The round includes participation fromPortfoLion, Atmos Ventures and Angel Investors. The funding will support edrone's growth, particularly in expanding its Brazil branch and recruiting new employees.

Location: Bialystok, Poland
Launch date: 2022
Funding Round: Seed, €465K
Funding Source: Sunfish Partners
Total funding received: €707.4K

Polish startup raises $500k from Sunfish Partners to strengthen its position in the no-code market. Codejet automates software creation by converting graphic designs into code. The investment will accelerate product development and integration with Storybook.


Location: Warsaw, Poland
Launch date: 2021
Funding Round: Seed, €1.11M
Funding Source: SMOK Ventures, Movens Capital, Angel Investors
Total funding received: €1.91M

Gotiva, a Warsaw-based graphic developer startup, raises €1.11M in seed funding led by SMOK Ventures. Co-investors include Movens Capital and Angel Investors. Gotiva's Jigsaw Puzzle Universe app allows creators to distribute digital images as puzzles and earn revenue. With content from 200+ creators across 40 countries, the platform plans to expand to support various multimedia content types. This investment brings Gotiva's total funding to €1.91M.

Location: Sofia, Bulgaria
Launch date: 2021
Funding Round: Seed, €1.4M
Funding Source: Vitosha Venture Partners, NV3
Total funding received: €1.9M, a Bulgarian startup refurbishing and selling used smartphones, secured a €1.4M investment from Vitosha Venture Partners and New Vision 3. The platform processes about 1,000 phones monthly and plans to expand into Greece, Romania, and other Eastern European markets.


Location: Tbilisi, Georgia
Launch date: 2022
Funding Round: Pre-seed, €307K
Funding Source: esto Ventures
Total funding received: €1.9M

Georgian marketplace Wempler raises $330,000 in a pre-seed round led by Presto Ventures. Wempler connects customers with local businesses and individual experts for various tasks. The investment will fuel product development and market expansion. Wempler claims to match customers with suitable service providers within 5 minutes and has completed over 22,000 tasks for 10,000 customers since its launch.

Related Posts:

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)

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


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