Today, we are going deep into interesting CEE funding rounds that took place in October, the first month of Q4 2021. This time SaaS, e-commerce, financial services, AI and edtech attracted investor's interests.
Now, let’s discover TOP October startup funding rounds in CEE!
Rossum
Location: Prague, Czech Republic
Launch date: 2017
Funding Round: Series A €86M
Funding Source: Seedcamp, Miton, LocalGlobe, General Catalyst
Total funding received: €94M
Founded in 2017, Czech Rossum is a startup building an AI-powered universal document gateway capable of working across verticals including finance, logistics, manufacturing, energy & insurance and therefore enabling clients to skip the paperwork and focus on what really matters. Recently, the startup has secured one of eastern Europe’s largest series A rounds - €86M from Seedcamp, Miton, LocalGlobe and General Catalyst. Acquired financing will boost the international expansion of the startup.
PVcase
Location: Kaunas, Lithuania
Launch date: 2017
Funding Round: Series A €19.8M
Funding Source: Contrarian Ventures, Elephant, Practica Capital
Total funding received: €20.3M
Lithuania-based PVcase is a solar software provider. The startup enables companies to reduce project costs, boost reliability and improve solar plant performance. PVcase has recently raised €19.8M during a Series A round led by Elephant and accompanied by existing investors - Contrarian Ventures and Practica Capital. Secured funds will be allocated to supporting the development of products, boost expansion in the US market and also accelerate the hiring process.
Vue Storefront
Location: Warsaw, Poland
Launch date: 2017
Funding Round: Series A €15M
Funding Source: Creandum, Earlybird Venture Capital, Movens Capital, Paua Ventures, Scale Asia Ventures
Total funding received: €16.2M
Vue Storefront is a Polish startup working on an e-commerce frontend platform that changes the way e-commerce is done by among others boosting site performance, shaping the customer journey and supporting the developers’ creativity. The startup, in 2021 joined Y Combinator acceleration program and recently secured a series A round in the amount of €15M from Creandum, Earlybird Venture Capital, Movens Capital, Paua Ventures, Scale Asia Ventures, and various business angels. The funds will be allocated to further expansion and platform development.
Spacelift
Location: Warsaw, Poland
Launch date: 2019
Funding Round: Series B €13M
Funding Source: Insight Partners, Inovo Venture Partners, Hoxton Ventures, Blossom Capital
Total funding received: €19.4M
Poland-based Spacelift founded in 2019, is a startup building a platform used to manage any cloud, infrastructure, or service. Therefore it assists DevOps teams with managing a complex infrastructure of servers in the cloud, enables them to scale products quickly and helps them safely build, develop and test cloud applications. The startup has recently secured a series B round in the amount of €13M led by Insight Partners and accompanied by Inovo Venture Partners, Hoxton Ventures and Blossom Capital. The funds will be used for expanding the engineering team in Poland and supporting marketing activities in the US market.
Roofit.solar
Location: Tallinn, Estonia
Launch date: 2016
Funding Round: Series A €7.8M
Funding Source: BayWa r.e. Energy Ventures, Spring Capital, Helmes Investments and various business angels
Total funding received: undisclosed
Estonian Roofit.solar is a solar energy startup working on 2-in-1 solar metal roofs that are good looking and more affordable as a result of reduced costs of materials and labour. The startup has recently secured a series A round in the amount of €7.8M led by BayWa r.e. Energy Ventures and among other participating investors were Spring Capital, Helmes Investments and various business angels like Priit Piilmann (largest shareholder of Viru Keemia Grupp), Taavet Hinrikus (Co-founder of Wise) and Sten Tamkivi (ex-General Manager at Skype Estonia). Raised funds will be allocated to growing the team, expanding production capacities, and improving product development.
Resistant AI
Location: Prague, Czech Republic
Launch date: 2019
Funding Round: Series A €14.3M
Funding Source: Credo Ventures, GV, Index Ventures, Seedcamp
Total funding received: €16.6M
Prague-based Resistant AI, founded in 2019, is a cybersecurity startup developing an AI-powered fraud-fighting platform that responds to vulnerabilities in financial services by among others verifying invoices, payroll slips, bank statements etc., protecting automated workflows from manipulation of documents and many more. The startup has recently closed the series A round in the amount of €14.3M from Credo Ventures, GV, Index Ventures, and Seedcamp, while secured funds will be used for accelerating the growth of engineering, product and sales teams.
kevin.
Location: Vilnius, Lithuania
Launch date: 2017
Funding Round: Seed €8.6M
Funding Source: Global PayTech Ventures, OpenOcean, OTB Ventures, Speedinvest
Total funding received: €12M
Lithuanian kevin., founded in 2017, is a fintech startup providing open banking payment solutions. The startup goal is to evolve traditional card, pay by link, POS, direct debit and online payments by offering fully customizable transacting solutions which can be scaled to the size and individual needs of each merchant. kevin. has recently secured €8.6M in a seed round from Global PayTech Ventures, OpenOcean, OTB Ventures and Speedinvest, while raised funds will help a startup with reaching new sectors and markets in Europe.
Lingvist
Location: Tallinn, Estonia
Launch date: 2012
Funding Round: Venture round €5.1M
Funding Source: Metaplanet Holdings, Rockaway Capital, Rubio Impact Ventures
Total funding received: €14.8M
Founded in 2012, Estonian Lingvist, is an edtech startup offering software for learning new languages faster and smarter based on mathematical optimization and statistical analysis. The company has developed an AI-based algorithm that enables the application to swiftly customize and adapt course content to each user. Recently secured funds in the amount of €5.1M from Metaplanet Holdings, Rockaway Capital and Rubio Impact Ventures will be used to introduce many more languages to its learning application.
Kindepedia
Location: Bucharest, Romania
Launch date: 2015
Funding Round: Seed €1.8M
Funding Source: Early Game Ventures, Growceanu, Roca X
Total funding received: €3.1M
Romanian Kinderpedia, founded in 2015, is an edtech startup offering a platform for kindergartens and schools which allows educational institutions to work smart and communicate efficiently both online and offline by bringing all parties (educational institutions, teachers, parents) to the same platform. Kinderpedia has recently been supported by Early Game Ventures Greuceanu, and Roca X. The secured funds in the amount of €1.8M will be allocated for accelerating the growth.
Orgnostic
Location: Belgrade, Serbia
Launch date: 2019
Funding Round: Seed €4.3M
Funding Source: Earlybird Venture Capital, Script Capital and various business angels
Total funding received: €5M
Serbia-based Orgnostic is a human capital analytics platform that helps fast-growing companies better understand their workforce by analyzing a wide variety of data to bridge the gap between operation and employee work experience. As a result, it allows management to make smarter decisions. The recently secured funding from a seed round in the amount of €4.3M from Earlybird Venture Capital, Script Capital and various business angels will be allocated to further platform development.
Sources: Vestbee VC & startup community, startup press releases, web & social media monitoring, Crunchbase
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