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cee funding rounds may 2022 by vestbee
14 June 2022·6 min read

Konrad Koncerewicz

Head of VC & Startups, Vestbee

TOP CEE Funding Rounds Closed In May 2022

Today, we are going deep into interesting CEE funding rounds that took place in May, the second month of Q2 2022. This time, E-commerce, Fintech, SaaS, AI and Delivery attracted investors' interests. 

Let’s discover TOP May startup funding rounds in CEE!

DRUID

Location: Bucharest, Romania
Launch date: 2018
Funding Round: Series A €14.2M
Funding Source: Gapminder VC, Hoxton Ventures, Karma Ventures
Total funding received: €19M

Founded in 2018, Romanian DRUID is an end-to-end platform for building AI-driven conversational business applications. They allow developers to create, configure and deploy natural and rich interactions between employees, customers, partners, and enterprise systems, through omnichannel text and voice conversations. The startup has recently secured a series A round in the amount of €14.2M from Gapminder VC, Hoxton Ventures, and Karma Ventures. Obtained financing will be used to strengthen global reach and to achieve ambitious international goals. 

Cachet

Location: Tallinn, Estonia
Launch date: 2018
Funding Round: Series A €5.5M
Funding Source: Icebreaker.vc, Truffle Capital, UNIQA Ventures
Total funding received: €7M

Estonian Cachet, founded in 2018, is an insurtech company, working on a platform with worker-focused insurance services. It gives gig workers the possibility to buy single insurance policies, which are fairly priced, personalized and easy to use. Cachet has recently secured a €5.5M series A round, led by Truffle Capital and accompanied by Icebreaker.vc and UNIQA Ventures. The raised funding will be used to grow the team, improve its technology and data models, and expand within Europe.

kevin.

Location: Vilnius, Lithuania
Launch date: 2017
Funding Round: Series A €61.8M
Funding Source: Accel, Eurazeo, Global PayTech Ventures, OpenOcean, OTB Ventures, Speedinvest, business angels.
Total funding received: €73.3M

Lithuanian kevin. is a fintech startup that provides an advanced account-to-account (A2A) payment infrastructure which aims to replace costly card transactions. By that kevin. also helps to improve customer experience and thereby conversion, while also saving money on the cost of payment acquiring services for the merchants. The startup has recently secured a €61.8M Series A round, led by Accel and accompanied by Eurazeo, Global PayTech Ventures, OpenOcean, OTB Ventures, Speedinvest, and business angels. The funding they raised will be allocated to the expansion of their international team of experts and the development of products that transform the payment industry.

Nomagic

Location: Warsaw, Poland
Launch date: 2017
Funding Round: Series A  €20.5M
Funding Source: Almaz Capital, Capnamic Ventures, DN Capital, European Investment Bank, Hoxton Ventures, Khosla Ventures, Manta Ray Ventures
Total funding received: €28.5M

Warsaw-based Nomagic, founded in 2017, is a robotic startup that provides smart pick and place robotic solutions for order fulfillment. Their robotic arm can identify and pick out an item from an unordered selection and then move or pack it into another place, bringing efficiency, flexibility and reliability to e-commerce warehouses. The startup has recently secured a series A round in the amount of €20.5M, led by Almaz Capital, Capnamic Ventures, DN Capital, European Investment Bank, Hoxton Ventures, Khosla Ventures, and Manta Ray Ventures. These raised funds will be used for further product development. 

Switchboard

Location: Galanta, Slovakia
Launch date: 2021
Funding Round: Seed  €4.2M
Funding Source: Backend Capital, Caffeinated Capital, Charge Ventures, Forum Ventures, New Normal Ventures, Overline VC, Polymath Capital, Slow Ventures, Soma Capital, Tnt Ventures
Total funding received: €4.2M

Slovakian Switchboard, founded in 2021, is an innovative dev platform that includes the first error monitoring and incident response functionalities for no-code environments. The startup has a goal to become the operating system for non-technical teams that build dashboards, systems, and processes. Recently, Switchboard has been supported by Backend Capital, Caffeinated Capital, Charge Ventures, Forum Ventures, New Normal Ventures, Overline VC, Polymath Capital, Slow Ventures, Soma Capital, and Tnt Ventures who participated in the seed round of €4.2M. Secured funding will be used for further platform development.

Heroify

Location: Warsaw, Poland
Launch date: 2021
Funding Round: Pre-seed €150K
Funding Source: Movens Capital
Total funding received: €150K

Heroify is a Polish skill-testing platform for marketing and sales jobs that offers customized tests, created based on job descriptions. The startup helps hiring managers to make better and unbiased hiring decisions, therefore increasing their efficiency, as well as saving time and money. The recently secured pre-seed round in the amount of €150K was led by Movens Capital and the obtained funding will be allocated to platform development.  

Spiritus

Location: Zagreb, Croatia
Launch date: 2021
Funding Round: Seed €350K
Funding Source: ZAKA Startups
Total funding received: €400K

Croatia-based Spiritus is a startup working on a platform that specializes in creating digital memorials powered by blockchain. Spiritus is basically a digital memory that can contain photos, videos and memorable life stories that best represent a beautiful life of a person.  Startup has recently secured a €350K seed round from ZAKA Startups, with plans to use the funding for further development of the platform. 

Hunch

Location: Belgrade, Serbia
Launch date: 2016
Funding Round: Venture round €4M
Funding Source: 3TS Capital Partners, Catalyst Romania, Euroventures, North Base Media, SeedBlink, South Central Ventures
Total funding received: €9M

Belgrade-based Hunch is an ads automation platform that empowers global e-commerce companies to dominate social commerce by increasing interaction, conversion to revenue as well as a lifetime value. Startup has been supported recently by 3TS Capital Partners, Catalyst Romania, Euroventures, North Base Media, SeedBlink, and South Central Ventures who participated in the funding round of €4M. The secured funds will be used to triple its sales team and to increase marketing investments, that will support its expansion plans in Europe and the US.

Talkin’ Things

Location: Warsaw, Poland
Launch date: 2013
Funding Round: Series A  €18.6M
Funding Source: Montis Capital Group, Prosegur, TDJ
Total funding received: €27.5M

Founded in 2013, Polish Talkin' Things is an IoT startup that manufactures innovative radio-frequency identification tags. The company develops comprehensive IoT solutions that transform offline inventory goods into online data using RFID tags. It improves logistics processes, as thanks to that clients can access and use data about their physical products more effectively. Talkin’ Things has recently secured a €18.6M series A round from Montis Capital Group, Prosegur, and TDJ and with the raised funds they will continue building its RFID tag factory and increasing its headcount. 

DoDo

Location: Prague, Czech Republic
Launch date: 2015
Funding Round: Series B €60M
Funding Source: EC Investments, J&T Capital, Rockaway Capital
Total funding received: €60.6M

Founded in 2015, Prague-based startup DoDo is a provider of a B2B logistics technology platform that specializes in the last-mile and same-day delivery of goods to the end customer. The company has recently closed a Series B round in the amount of €60M from EC Investments, J&T Capital, and Rockaway Capital. The secured funds will not only support the further development of DoDo’s data-driven logistics platform but also drive the group’s expansion into Western and Southern Europe.

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

Related Posts:

TOP CEE Funding Rounds Closed In April 2022 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)

TOP CEE Funding Rounds Closed In March 2022 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)

TOP CEE Funding Rounds Closed In February 2022 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)



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