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 closed in CEE during March.
BotGuard
Location: Tallinn, Estonia
Launch date: 2019
Funding round: Series A, €12M
Funding source: Expeditions Fund, MMC Ventures, Tera Ventures
Total funding received: €280M
Based in Estonia, BotGuard is a cybersecurity software company that helps web hosting providers control traffic and protect their infrastructure from malicious threats. With recently secured funding of €12 million from Expeditions Fund, MMC Ventures, and Tera Ventures, the startup plans to further develop its technology, recruit tech development talent, and expand its sales and marketing teams as it continues to scale globally.
SP Tech
Location: Torun, Poland
Launch date: 2019
Funding round: Venture Round, €2.8M
Funding source: Vinci
Total funding received: €4M
Poland-based startup SP Tech is a startup specializing in rail transport optimization systems has successfully secured a €2.7 million funding round from Vinci HiTech fund. This infusion of capital will drive continued technological advancements, enhance its range of features, and facilitate expansion into international markets.
Livespace
Location: Warsaw, Poland
Launch date: 2014
Funding round: Series A, €2.3M
Funding source: ARIA Fund, INventures
Total funding received: €3M
Livespace is the creator of a cloud-based B2B CRM platform that prioritizes process efficiency, providing task and sales automation tools tailored for professionals. The platform empowers users to streamline their sales processes, establish and track goals effectively, and ensure the maintenance of accurate customer information, as per the company's claims. The startup has secured a Series A round from ARIA Fund, and INventures with plans to use it towards European expansion.
Flowpay
Location: Prague, Czech Republic
Launch date: 2021
Funding round: Seed, €2.1M
Funding source: DEPO Ventures, Soulmates Ventures, Techstars
Total funding received: €2.8M
Flowpay is a Czech fintech company leveraging predictive AI models, automation, and Embedded Finance to enhance access to operational funding for small and medium-sized enterprises (SMEs), has successfully raised €2.1 million in its seed round. The funding round was joined by Techstars, and Czech VCs such as Soulmates Ventures and DEPO Ventures while secured funding will be allocated to scaling outside Czechia, and enhancing technological capabilities.
Rendin
Location: Tallinn, Estonia
Launch date: 2019
Funding round: Venture Round, €2M
Funding source: Startup Wise Guys, Tera Ventures
Total funding received: €4.2M
Rendin is a Tallinn-based startup reshaping the home rental landscape by introducing a rental platform that offers home rentals and secure rental agreements. The startup has secured nearly €2 million in funding led by Tera Ventures. The investment will fuel preparations for an upcoming A-round raising and support expansion into new markets, commencing in April.
CTO2B
Location: Vilnius, Lithuania
Launch date: 2019
Funding round: pre-seed, €1M
Funding source: Practica Capital
Total funding received: €1.9M
CTO2B is a Lithuanian startup that helps organizations in managing the cloud service adoption and runtime operations. The company offers cloud infrastructure solutions designed with developers in mind, ensuring a developer-friendly experience. By automating key aspects of DevOps best practices, the service yields numerous benefits including enhanced quality, reliability, and scalability. The startup has recently secured €1 million pre-seed round from Practica Capital.
Team Schedule
Location: Sofia, Bulgaria
Launch date: 2018
Funding round: Venture Round, €1M
Funding source: Vitosha Venture Partners
Total funding received: €1M
Team Schedule is an advanced cloud-based solution tailored for work-shift planning, meticulously crafted as an extension to SAP SuccessFactors. Built in accordance with SAP Product Development Standards and SAP Fiori User Experience Guidelines, it ensures reliability and compliance. Leveraging the capabilities of Artificial Intelligence, the platform revolutionizes shift planning, fostering a user-friendly experience for both employees and managers, all while meeting corporate and government regulations.
SilkPLM
Location: Cracow, Poland
Launch date: 2022
Funding round: seed, €600k
Funding source: CofounderZone, FundingBox Deep Tech Fund
Total funding received: €600k
SilkPLM is a cloud-based SaaS platform dedicated to optimizing supply chains with its comprehensive Product Lifecycle Management capabilities. The platform excels in managing every aspect of a product's lifecycle, spanning from conception and design to manufacturing, service, and disposal. Through centralized data management, streamlined processes, and fostering collaboration throughout the product development journey, SilkPLM guarantees transparency and efficiency at every step, ensuring seamless operations from inception to completion.
XVision
Location: Timișoara, Romania
Launch date: 2021
Funding round: Venture Round, €460K
Funding source: Fortech Investments
Total funding received: €1.9M
Romanian XVision develops an automated X-ray analysis application designed to support radiologists by delivering precise interpretations of medical images. With Rayscape, radiologists can diagnose patients with increased speed, accuracy, and efficiency. By facilitating thorough analysis of medical images like X-rays and CT scans, Rayscape empowers radiologists to provide superior patient diagnoses, thereby enhancing the overall healthcare experience for both medical professionals and patients alike.
Lakmoos
Location: Brno, Czech Republic
Launch date: 2023
Funding round: pre-seed, €300k
Funding source: Presto Ventures
Total funding received: €510k
Lakmoos, headquartered in Brno, is an AI market research startup specializing in constructing data models that replicate decision-making processes within target demographics. Their platform eliminates the need for human survey respondents by utilizing data models that accurately represent the prevailing opinions of chosen target groups. These models possess the capability to promotly address inquiries pertinent to business operations.
Maas Loop
Location: Rzeszow, Poland
Launch date: 2020
Funding round: seed, €1.2M
Funding source: Aper Ventures, AIP Seed, ASP Capital
Total funding received: €1.2M
Rzeszow-based Maas Loop specializes in manufacturing recycling equipment. Their flagship device enables restaurant proprietors to independently crush glass, significantly enhancing the efficiency of recycling efforts. With the capacity to crush up to 60 glass bottles, 130 plastic bottles, or 260 metal cans simultaneously, Maas Loop offers a sustainable solution for waste management. The company plans to utilize the funds to expand its business operations and bolster sales in international markets.
Smartschool
Location: Warsaw, Poland / Palo Alto, USA
Launch date: 2023
Funding round: pre-seed, €1.4M
Funding source: Inovo VC, The Explorer Fund
Total funding received: €1.4M
Smartschool is an educational startup developing Yoko, a virtual assistant specifically crafted to support US students in their preparation for the SAT Exam, a crucial step for college admission. According to Smartschool, Yoko provides a more cost-effective solution compared to hiring a private tutor. By meticulously analyzing each student's weaknesses and learning needs, Yoko tailors a bespoke learning plan for optimal efficiency in achieving their educational objectives. The startup has recently secured funding from Polish Inovo VC and US-based The Explorer Fund.
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