CEE funding rounds
08 June 2021·6 min read

Konrad Koncerewicz

Head of VC & Startups, Vestbee

TOP CEE Funding Rounds Closed In May 2021

May, the second month of Q2 2021, was very generous in terms of the amount of financing secured on the market. Disclosed funding in CEE exceeded €300M, which is over 3 times higher than in the previous month - April. It is a consequence of an impressive investment into Lithuanian unicorn Vinted, whose series F funding reached €250M, while among the top areas that attracted investors’ attention were e-commerce, fashion, blockchain, live events, AI, construction and finance technology.

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

Vinted

Location: Vilnius, Lithuania
Launch date: 2008
Funding Round: Series F  €250M
Funding Source: Accel, Burda Principal Investments, EQT, Insight Partners, Lightspeed Venture Partners, Sprints Capital
Total funding received: €461M

Vilnius-based, Vinted is an online marketplace and community for second-hand clothes. The company’s goal is to show how great second-hand clothing can be and allow customers to find clothes not available in chain stores. Vinted claims to have more than 45 million members globally and over 300 million items listed on its websites. Recently secured impressive series F funding in the amount of €250M put its pre-money valuation at €3.5B. The investment round led by EQT and was accompanied by Accel, Burda Principal Investments, Insight Partners, Lightspeed Venture Partners, Sprints Capital. The proceeds will be spent on accelerating the expansion on the next markets.

Interactio

Location: Vilnius, Lithuania
Launch date: 2014
Funding Round: Series A  €24.4M
Funding Source: Change Ventures, Eight Roads Ventures, Notion Capital, Practica Capital, Storm Ventures, business angels
Total funding received: €25M

Lithuanian Interactio is a system that provides remote simultaneous interpretation and replaces translation equipment during live events. Among others, it is being used by the United Nations and European Parliament. The startup has recently secured Baltics’ largest ever series A round in the amount of €24M. Among investors participating in the round were Eight Roads Ventures, Storm Ventures, Change Ventures, Notion Capital, Practica Capital and various business angels like Jaan Tallinn - co-founder of Skype and Young Sohn -  former chief strategy officer of Samsung. Raised funds will be allocated to the further development of the platform.

Omnipack

Location: Warsaw, Poland
Launch date: 2016
Funding Round: Seed €4.1M 
Funding Source: SMOK Ventures and others
Total funding received: €8.8M

Poland-based Omnipack, founded in 2016, provides medium-sized e-commerce companies with logistics services. Omnipack is a fulfillment service that manages logistics aspects of the business - storage, packing, delivery and therefore makes these actions faster, easier and cheaper for its customers. The startup has recently raised €4.1M in a seed round from SMOK Ventures. Secured funds will be used for further expansion and development of the solution.

DappRadar

Location: Kaunas, Lithuania
Launch date: 2018
Funding Round: Series A €4.1M
Funding Source: Blockchain.com Ventures, NordicNinja VC, Prosus Ventures
Total funding received: €6M

Founded in 2018, Lithuanian DappRadar is a global app store for decentralized applications (called dapps), making it easy for its users to explore and track the activity of these applications. Recently, the startup has secured a series A round in the amount of €4.1M from Blockchain.com Ventures, NordicNinja VC and Prosus Ventures. DappRadar plans to spend raised funds on improving platform functionality and promoting widespread dapp adoption.

Placeme

Location: Warsaw, Poland
Launch date: 2017
Funding Round: Seed  €440K
Funding Source: b.value AG
Total funding received: €440K

Polish Placeme, founded in 2017, is an offline analytics company predicting potential sales at specific addresses. A startup helps its users understand where their consumers are and where their services are missing. It also improves offline communication with target groups to make the offline sales process more efficient. Placeme potential has recently been appreciated by b.value AG which led the seed round in the amount of €440K and secured funds will be allocated for further development of the tool. 

CyberStudio

Location: Warsaw, Poland
Launch date: 2018
Funding Round: Seed €450K
Funding Source: SATUS Starter
Total funding received: €850K

Founded in 2018, Polish CyberStudio is a platform predicting cybersecurity threats 24/7 and therefore allows companies to protect themselves by analyzing and discovering the weaknesses of the inner IT infrastructure before others do. Recently secured funds during a seed round in the amount of €450K led by SATUS Starter, will be allocated to product development and its preparation for further commercial implementations.

Digitoo

Location: Prague, Czech Republic
Launch date: 2019
Funding Round: Pre-seed €1.25M
Funding Source: Kaya, Nation 1
Total funding received: €1.25M

Prague-based Digitoo is an end-to-end accounting automation tool with a goal to free accountants from the manual and repetitive work they go through on a daily basis and therefore help them focus on more creative activities that have great business impact. Digitoo has recently secured a pre-seed round in the amount of €1.25M led by Kaya and accompanied by Nation 1. The funds will be allocated to support product development and scaling a business.

ReSpo.Vision

Location: Warsaw, Poland
Launch date: 2020
Funding Round: Seed €1M
Funding Source: ff Venture Capital, RKKVC
Total funding received: €1M

Warsaw-based ReSpoVision, founded in 2020 is using cutting-edge AI technology to analyze football competitions and therefore provides clubs, federations, bookmakers, and media with an unmatched depth of knowledge. Among offered features, its users can find player & team analytics, visualization, scouting, ingame AR statistics or even betting hints. The startup has recently closed the seed round in the amount of €1M led by ffVC Tech & Gaming and accompanied by RKKVC. Secured funds will be allocated to expand the coverage from football to other sports. 

Bunnyshell

Location: Bucharest, Romania
Launch date: 2018
Funding Round: Seed €1.1M
Funding Source: Early Game Ventures
Total funding received: €2M

Romanian Bunnyshell, founded in 2018, is a simple and fast cloud-agnostic DevOps automation platform for deploying, scaling, and optimizing applications. The startup helps its customers to speed up the development of applications, maximize uptime and reduce costs of maintaining adequate performance. Bunnyshell has recently secured €1.1M in a seed round from Early Game Ventures (second investment of EGV into Bunnyshell). Secured funds will be used to accelerate expansion on new markets and building partnership networks. 

ProperGate

Location: Warsaw, Poland
Launch date: 2018
Funding Round: Seed €820K
Funding Source: SMOK Ventures, Realty Corporation Limited
Total funding received: €1.1M

ProperGate is a Polish startup with a goal to digitalize construction site logistics by developing a smart system that automaes delivery management. The company allows its customers to track deliveries, optimize & control on-site arrivals and therefore increase efficiency and reduce wastage of materials. The startup has recently secured €820K in a seed round from SMOK Ventures, Realty Corporation Limited and various private investors. The proceeds will be allocated to expanding the team and increasing the pace of comapny’s development. 

 

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

 

Related Posts:

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

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

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

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