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weekly business news by vestbee
22 August 2022·4 min read

Ilya Mikhalchyk-Kananenka

Community Builder, Vestbee

VC & Startup Weekly News From CEE, August 13 - 19, 2022

New VC Funds

  • NY-based CoinFund raises its second, $300M web3 fund. The firm will back early-stage crypto projects.
  • Lithuanian climatetech/energy VC Contrarian Ventures launches its next €100M fund. The firm will focus on seed stage companies across Europe.
  • London-based quantum VC 2xN wraps up a $120M fund to invest in quantum computing startups across the US and Europe. The firm will put $3M to $5M to back pre-seed to series A startups.
  • A mining corporation Vale announces a $100M venture arm Vale Ventures to invest in sustainable innovation. The firm will back startups all over the globe, with a particular focus on sustainable mining.
  • NY-based VC Life Extension Ventures raises $100M fund to back startups enabling human longevity. The firm will consider opportunities all over the US and Europe.
  • Portal Ventures launches a debut $35M fund to back crypto startups. The firm will mainly focus on early-stage projects.


CEE Startup Funding Rounds & Acquisitions

  • Polish cancer drug discovery startup Ryvu Therapeutics bags €22M to fund the company’s continued research. The investment was made through EIB’s venture debt instrument.
  • Poland’s biggest membership management platform Patronite sells 40% of its shares to a local media/e-commerce group Wirtualna Polska. The size of the transaction is valued at 12,6M PLN.
  • Sofia-based job matching platform nPloy picks up €2M in funding to expand across broader SEE. The round was co-funded by Morningside Hill and Blue Ocean Ventures.
  • Romanian e-commerce giant evoMAG grabs €2M for product development and international/offline expansion. The investment was made by Catalyst Romania.
  • Estonian recruitment SaaS RecruitLab raises €1.9M to grow the team and company’s operations across UK/Europe. The round was led by Change Ventures and followed by StartupIst VC, Fund Fellow Founders, and the BADideas.fund.
  • Romanian crowdinvesting platform SeedBlink acquires its Dutch competitor Symbid to capture the Western European market. The size of the transaction remains undisclosed.
  • Romanian embedded software development startup for the automotive market OxidOS nabs €1.2M seed round to develop the company’s core product. The round was backed by Early Game Ventures.
  • Polish biotech venture builder Green Lanes raises 2M PLN to fund its research around sustainable hemp meat and wood. The investment was made by JR HOLDING.
  • Romanian speech-to-text startup for doctors Parol raises €450K pre-seed round to develop the product and fund company’s go-to-market efforts. The round was led by Mavers Venture Capital Fund and a number of business angels from UiPath.
  • Polish sustainable packaging startup ZNIKA (translated as “It disappears”) raises a 1,3M PLN to finalize the R&D and market expansion. The round was led by LT Capital and a couple of business angels.
  • Polish RFID developer Hadatap raises an undisclosed round to fund its R&D and expansion across Europe. The investment was made by AVIA Capital.

Startup Calls

  • Open-innovation program for healthcare startup Open Health Labs gathers applications to launch pilots across the Latvian healthcare system. The companies accepted into the program will go through a 2-month acceleration, receive a bit of funding and have a chance to pilot their solutions in one of 4 leading hospitals across the country. The call for applications will last until the 29th of August.
  • Cologne-based PIRATE Summit continues selling tickets for its annual event. The event is made for all participants of the innovation ecosystem and could be a great place for making new connections within the broader tech community. The summit will take place on the 6-7 of September.
  • Berlin-based Deep Tech Momentum gathers applications for its September bootcamp. While at the event, founders may find co-founders for their venture, connect with investors, and receive mentorship from researchers and business leaders. The application deadline is set for the 24th of August.


Related Posts:

VC & Startup Weekly News From CEE, August 6 - 12, 2022 (by Ilya Mikhalchyk-Kananenka, Community Builder, Vestbee)

VC & Startup News From CEE, July 30 - August 5, 2022 (by Ilya Mikhalchyk-Kananenka, Community Builder, Vestbee) 

VC & Startup Weekly News From CEE, July 23 - 29, 2022 (by Ilya Mikhalchyk-Kananenka, Community Builder, Vestbee)


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