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top cee funding rounds by vestbee.com
07 November 2023·8 min read

Katarzyna Skoneczna

Editor, Vestbee

TOP CEE Funding Rounds Closed In October 2023

Discover the top startups in Central and Eastern Europe that secured funding in October. Solutions span a diverse range of industries, featuring a significant presence of startups from the Baltic region, alongside contributions from other countries. Want to know more? Let's dive into the article!

raicoon

Location: Vienna, Austria
Launch date: 2018
Funding Round: Seed, € 4M 
Funding Source: PUSH Ventures, Voltares
Total funding received: € 4M 

Vienna-based company raicoon has successfully secured EUR 4 million in a seed funding round, while being backed by PUSH Ventures and Voltares. The company is dedicated to optimising solar energy systems by employing both AI and ML to identify errors and enhance operations. Raicoon's strength is its ability to increase the power output of existing renewable energy systems by approximately 6%, all while significantly reducing operational expenditures by up to 50%. 

Bisly

Location: Tallinn, Estonia
Launch date: 2018
Funding Round: Series Undisclosed, € 3.6M 
Funding Source: Aconterra, Pinorena Capital, Reach UK, Second Century Ventures, SmartCap
Total funding received: € 5.3M 

Estonian startup Bisly offers an intelligent building automation system that enables real estate developers and estate owners to meet EU net-zero standards, connecting HVAC, lighting, security, and more on a single platform. The company has recently secured €3.6 million with participation from Aconterra, Pinorena Capital, Reach UK, Second Century Ventures and SmartCap. The secured funding will fuel the company's expansion efforts across Europe, targeting the Nordic countries, the DACH region, and the UK. 

Paul-Tech

Location: Saku, Estonia
Launch date: 2019
Funding Round: Seed, € 1.4M 
Funding Source: EstBAN, Honey Badger Capital OÜ, Overkill Ventures, SMARTCAP, Superangel, Tatoli AS
Total funding received: € 1.6M 

Estonian startup Paul-Tech has raised €1.4 million in a seed round for their precision agriculture solution. The company offers sensors that monitor soil-water conditions, enabling real-time in-soil process monitoring. This technology allows farmers to practise more sustainable farming and optimise resource allocation. The funds will be used to expand into the UK market and enhance the company's product offering. The startup is backed by EstBAN, Honey Badger Capital OÜ, Overkill Ventures, SMARTCAP, Superangel and Tatoli AS.

Certifier

Location: Cracow, Poland
Launch date: 2020
Funding Round: Seed, € 653K 
Funding Source: Black Pearls VC, DEPO Ventures, FundingBox Deep Tech Fund, Movens Capital, Angel Investors
Total funding received: € 700K 

The Cracow-based startup Certifier, co-founded by Ukrainian entrepreneurs, has raised € 653 K in a seed round with investors such as Movens Capital, FundingBox Deep Tech Fund, Black Pearls VC, and DEPO Ventures, as well as Angel Investors. Certifier offers a digital credential management system, and it has already gained over 800 international clients, including Avon, Stanford Medicine, University of Illinois, Oxford School District, and Salesforce. 

Shopstory

Location: Vienna, Austria
Launch date: 2020
Funding Round: Series Undisclosed, € 2M
Funding Source: aws Gründerfonds, Calm/Storm Ventures, startup300, tecnet equity, Angel Investors
Total funding received: € 5.6M

Vienna-based startup Shopstory offers AI-based marketing software for online shops, allowing them to cut costs and improve performance. The company raised €2 million to expand in Europe and develop its upcoming product designed to automate e-commerce marketing processes with a user-friendly, no-code platform. Startup is backed by aws Gründerfonds, Calm/Storm Ventures, startup300, and tecnet equity, as well as Angel Investors.

Repsense

Location: Vilnius, Lithuania
Launch date: 2021
Funding Round: Pre-seed, € 800K
Funding Source: Baltic Sandbox Ventures, Coinvest Capital, Iron Wolf Capital, Angel Investors
Total funding received: € 1.3M

Repsense is an AI startup based in Vilnius. The company has secured €800,000 in its pre-seed funding round that was led by Iron Wolf Capital, Coinvest Capital, Baltic Sandbox Ventures and several Angel Investors. Repsense specialises in mimicking user journeys and predicting reactions to content in search results pages. Their solution also allows clients to compare their results with competitors across different regions and user intents. 

MyDello

Location: Tallinn, Estonia
Launch date: 2021
Funding Round: Seed, € 1.25M
Funding Source: Superhero Capital, Angel Investors
Total funding received: € 1.25M

Tallinn-based logistics platform MyDello has secured €1.25 million in its recent round led by Superhero Capital. MyDello offers a digital portal for efficient and transparent worldwide freight forwarding, simplifying the planning of different transportation options. The solution reduces logistics costs for companies by 15-20% and provides real-time shipment tracking. The investment will support the startup's expansion into Finland and the Netherlands. 

Gearbox Biosciences

Location: Tartu, Estonia
Launch date: 2021
Funding Round: Pre-seed, € 380K
Funding Source: AS AMALFI, Specialist VC, UniTartu Ventures
Total funding received: € 505K

Estonian biotech startup Gearbox Biosciences has raised €380,000 in a pre-seed funding round led by Specialist VC and UniTartu Ventures. The company has developed a novel technology for antibiotic-free protein production in industrial biotechnology. This not only reduces antibiotic use but also curbs the risk of antibiotic-resistant bacteria. The funding brings their total funding to over €505K including prior grants and investments.

Collabwriting

Location: Belgrade, Serbia
Launch date: 2021
Funding Round: Seed, € 880K
Funding Source: Credo Ventures, Fiedler Capital, Fortech Investments, SeedBlink, SMOK Ventures, Startup Wise Guys, Underline Ventures, Angel Investors
Total funding received: € 880K

Collabwriting is a Belgrade based startup that created a browser extension designed to facilitate online research and team collaboration. It allows users to effortlessly capture and organise information while browsing the web. With Collabwriting, users can highlight text, leave comments, and integrate the content into their research topics, making it as straightforward as marking up a paragraph in MS Word or Google Docs. The company is now backed by Credo Ventures, Fiedler Capital, Fortech Investments, SeedBlink, SMOK Ventures, Startup Wise Guys, Underline Ventures, as well as Angel Investors.

Cino

Location: Tallin, Estonia
Launch date: 2022
Funding Round: Seed, € 1.4M
Funding Source: APX, Atomico, Tera Ventures
Total funding received: € 2.8M

Tallinn-based fintech startup Cino has raised €1.4 million in its recent seed round to streamline group payments. Tera Ventures, APX, and Atomico are backing the company to support Cino's vision of linking everyone's bank accounts to a single virtual payment card, removing the hassle of late reimbursements and reminders.

OTA Sync

Location: Tallin, Estonia
Launch date: 2021
Funding Round: Seed, €1.3M
Funding Source: TS Ventures Fund, DSI Group of Business Angels, Startup Wise Guys, Presto Ventures, Katapult Accelerator
Total funding received: €1.3M

OTA Sync is a cloud-based hotel and property management system with an integrated channel manager and booking engine. The company secured €1.3 million in a recent funding round led by Presto Ventures, with participation from TS Ventures Fund, DSI Group of Business Angels, Startup Wise Guys, and Katapult Accelerator. OTA Sync plans to use its funds for market expansion in Europe and Latin America and new product development.

Proportunity

Location: London, UK
Launch date: 2016
Funding Round: Series A, €130M
Funding Source: Greek VC VentureFriends, Kibo Ventures, Anthemis, Amro Partners, Entrepreneur First
Total funding received: €163M

Proportunity, a tech-driven mortgage lender, has secured €130 million in recent Series A. The startup uses machine learning to forecast house prices and offers loans to buyers in high-growth areas. Secured funding will help launch a 0% deposit mortgage solution. Founded in 2016 to address millennial homeownership challenges, Proportunity has seen substantial growth and is currently planning to obtain a bank licence to improve access to homeownership. The company is backed by Greek VC VentureFriends, Kibo Ventures, Anthemis, Amro Partners and Entrepreneur First. 

CTHINGS.CO

Location: Warsaw, Poland
Launch date: 2018
Funding Round: Series A, €4.5M
Funding Source: Orlen VC, PKO VC, Freya Capital, and Level2 Ventures.
Total funding received: €6.5M

CTHINGS.CO is a cloud platform specialising in non-intrusive, secure networking and data capture for industrial processes and assets. The company has secured €4.5M. The secured funding from investors including ORLEN VC, PKO VC, Freya Capital, and Level2 Ventures will facilitate the company's international expansion to European and US markets.

Fabrico

Location: Sofia, Bulgaria
Launch date: 2022
Funding Round: Seed, €680K
Funding Source: Vitosha Venture Partners, Sofia Angels Ventures, Innovation Capital, Angel Investors
Total funding received: €980K

Bulgarian startup Fabrico has raised €680K from Vitosha Venture Partners, Sofia Angels Ventures, Innovation Capital and Angel Investors. Fabrico streamlines maintenance processes in manufacturing plant, offering preventive and reactive tools. Startup’s solution is adaptable to various industries, reducing downtime by 50%, cutting maintenance costs by 20%, and ensuring ISO compliance.

Morty

Location: Latvia
Launch date: 2021
Funding Round: Seed, €2M
Funding Source: Protagonist, General Catalyst, Animo VC, Wedbush Ventures, Unpopular Ventures, Wonder Ventures
Total funding received: €3M

Morty, a Latvian and US-based startup, has secured €2M in a Seed round led by Protagonist to build the biggest theme park. Morty's platform helps users discover and plan escape rooms, location-based VR, art exhibitions, and attractions. The database boasts over 4,000 attractions, with users providing more than 400,000 impressions and 300,000 ratings and reviews in a month. Investors in the round include General Catalyst, Animo VC, Wedbush Ventures, Unpopular Ventures, Wonder Ventures, as well as Angel investors.

News#CEE#Funding


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