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top cee funding rounds in September by vestbee.com
10 October 2023·6 min read

Katarzyna Skoneczna

Editor, Vestbee

TOP CEE Funding Rounds Closed In September 2023

Explore the wave of technological innovations from startups in Central and Eastern Europe during September. Dive into the article to discover the top CEE startups that secured funding last month!

Binalyze

Location: Tallinn, Estonia
Launch date: 2018
Funding Round: Series A, € 18M 
Funding Source: Cisco Investments, Citi Ventures, Deutsche Bank, Earlybird Venture Capital, Molten Ventures, OpenOcean
Total funding received: € 29M

Binalyze is a cybersecurity company based in Tallinn, specialising in digital forensics and incident response solutions. The company secured $19 million in its Series A. This funding will support Binalyze in its further expansion. The round was led by Molten Ventures, with participation from existing investors including Cisco Investments, Citi Ventures, Deutsche Bank, Earlybird Venture Capital, and OpenOcean.

TrustLynx

Location: Tallinn, Estonia
Launch date: 2023
Funding Round: Pre-seed, € 300K
Funding Source: FundingBox Deep Tech Fund, Startup Wise Guys
Total funding received: € 300K

Tallinn-based startup TrustLynx has successfully secured over €300,000 in its pre-seed round, by the Startup Wise Guys accelerator fund and FundingBox VC. The company specialises in providing a range of essential trust services, including digital identities, e-signatures, e-sealing, validation, and more, catering to sectors such as banking, telecommunications, utilities, healthcare, and software industries. TrustLynx's primary goal is to streamline the digitization process in Estonia and strengthen its position on European markets. 

Avokaado

Location: Tallinn, Estonia
Launch date: 2016
Funding Round: Series undisclosed, € 1.2M
Funding Source: Tera Ventures
Total funding received: € 1.2M

Estonian legal tech startup Avokaado has secured €1.2 million in a round led by Tera Ventures. Avokaado's document format called aDoc allows to blend together contract clauses and metadata, creating a unified document structure. With aDoc, contracts are transformed into intelligent entities with the ability to automate processes and monitor alterations. With over 20,000 users worldwide, including telecoms, retail, hospitality, and finance companies, the startup's document automation software is gaining traction globally. The new funding will support Avokaado's expansion, growth, and product development.

VOOL

Location: Tallinn, Estonia
Launch date: 2018
Funding Round: Series undisclosed, € 2.9M
Funding Source: Amalfi Capital, Kaamos, Specialist VC, Angel Investors
Total funding received: € 7.6M

VOOL provides dependable and cost-effective EV charging solutions for both businesses and individuals. The company recently closed a €1.3 million seed investment round led by Specialist VC and backed by key real estate developers like Kaamos Group, along with Angel Investors, including VOOL employees, who contributed 15% to the funding. This secured capital will support the expansion of the EV charger production and the growth of their international sales and customer support team in the Nordic countries. The company is also developing new products to integrate its technology into households.

WeSky

Location: Vilnius, Lithuania
Launch date: 2021
Funding Round: Series undisclosed, € 1.1M
Funding Source: Baltic Sandbox Ventures, Coinvest Capital, Lithuanian Business Angel Network, Notarc Management Group, Angel Investors
Total funding received: € 1.1M

The increase in processing power of Personal Electronic Devices (PED) has led to a growing demand for high-capacity batteries. WeSky specialises in developing innovative in-seat power systems designed to enhance the flight experience for passengers while improving operational efficiency for airlines by reducing fuel consumption. The startup had raised €1.1M in its recent round and is backed by Baltic Sandbox Ventures, Coinvest Capital, Lithuanian Business Angel Network, Notarc Management Group, and Angel Investors.

SharpGrid

Location: Prague, Czech Republic
Launch date: 2019
Funding Round: Seed, € 1.7M
Funding Source: Czech Founders VC, ZAKA VC
Total funding received: € 1.7M

SharpGrid provides a comprehensive understanding of the on-trade channel by collecting data from restaurants, bars, pubs, and cafés. This real-time information offers insights into business opportunities. Startup collaborates with companies, including Heineken, Danone, and Unilever that rely on SharpGrid's data for decision-making. SharpGrid has secured €1.7M and is backed by Czech Founders VC and ZAKA VC.

Blockmate

Location: Bratislava, Slovakia
Launch date: 2021
Funding Round: Seed, € 1.5M
Funding Source: BADideas.fund, DEPO Ventures, Diaspora Ventures, Seed Starter ČS, Tensor Ventures, Token Ventures, ZAKA VC
Total funding received: € 3.5M

Blockmate specialises in financial insights, aggregated views for accounts, risk and credit scoring, as well as regulatory compliance, integrating its analytical insights with open banking. The company successfully secured €1.5 million. The investment round was completed thanks to Seed Starter, Tensor Ventures, DEPO Ventures, Token Ventures, BADideas.fund, ZAKA Ventures, and Diaspora Ventures.

E2B

Location: Prague, Czech Republic
Launch date: 2023
Funding Round: Pre-Seed, € 102K
Funding Source: KAYA, Angel Investors
Total funding received: € 102K

E2B develops tailor-made solutions for AI agents and applications, simplifying the process of creating isolated cloud environments, all achieved with just a single line of code, making the integration and deployment of artificial intelligence more accessible. The company has now closed its first funding round (pre-seed) with the amount of € 102K, while being supported by KAYA and Angel Investors. 

uIMPACT

Location: Sofia, Bulgaria
Launch date: 2022
Funding Round: Pre-Seed, € undisclosed
Funding Source: Urban Impact Ventures, Vitosha Venture Partners
Total funding received: Undisclosed

uIMPACT  helps startups integrate sustainability and impact into their strategies, supporting responsible business practices, and thus helping startups to meet vendor contracts requirements, and attract funding. The company also assists investors in incorporating sustainability and avoiding greenwashing. uIMPACT  has recently completed its pre-seed round, being backed by Urban Impact Ventures and Vitosha Venture Partners.

Ringil

Location: Prague, Czech Republic
Launch date: 2021
Funding Round: Pre-Seed, € 612K
Funding Source: DEPO Ventures, N1, Purple Ventures, STARTGUIDE VC
Total funding received: € 1M

Ringil provides smart logistics systems for tracking all data and KPIs online, making management effortless, thanks to the real-time information available in one place. The company recently completed a successful pre-seed funding round, securing € 615K investment from N1, Purple Ventures, STARTGUIDE, and Depo Ventures. 

CliniNote

Location: Warsaw, Poland
Launch date: 2020
Funding Round: Seed, € undisclosed
Funding Source: Sunfish Partners, Angel Investors
Total funding received: Undisclosed

CliniNote aims to process healthcare data, using AI and NLP integration in healthcare workflows. CliniNote Assistant simplifies clinical documentation, enhancing efficiency without burdening medical staff, allowing to alter existing processes. CliniNote's technology also extends its impact into the field of clinical trials. The startup has recently secured initial financing from Sunfish Partners and Angel Investors, with plans for a second round in Q4 2023.

GOLDILOCK 

Location: London, UK
Launch date: 2017
Funding Round: Seed, € 1.6M
Funding Source: New York Angels. Harvard Business School Alumni Angels
Total funding received:  € 6.2M

Goldilock is a patented technology that enables organisations to instantly disconnect and reconnect data and devices to and from the internet from any location, all without human intervention, and internet access. Goldilock offers the assurance of keeping data backups clean and isolated, safeguarding against ransomware and other cyber intrusions. The cybersecurity company has successfully secured € 1.6M in seed round, further fueling its mission to redefine data security.

Related Posts:

TOP CEE Funding Rounds Closed In August 2023 (by Sofia Drobychevskaya, Editor, Vestbee)

TOP CEE Funding Rounds Closed In July 2023 (by Katarzyna Skoneczna, Editor, Vestbee)

TOP CEE Funding Rounds Closed In June 2023 (by Katarzyna Skoneczna, Editor, Vestbee)

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