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

Ilya Mikhalchyk-Kananenka

Community Builder, Vestbee

VC & Startup Weekly News From CEE, August 20 - 26, 2022

New VC Funds

  • Polish VC Inovo closes up its third €100M fund to continue backing CEE-based seed startups. The firm will invest €500k to €4M in a single ticket and would consider startups from any sector or industry.

CEE Startup Funding Rounds & Acquisitions

  • A cross-game metaverse avatar platform Ready Player Me, raises $56M for the company’s continued growth. The round was led by Andreessen Horowitz and followed by a number of prominent names like Roblox’s CEO David Baszucki, Twitch co-founder Justin Kan and others.
  • Polish payment system BLIK acquires a 100% stake in mobile payments startup VIAMO. The purchase will serve the goal of furthering BLIK’s international expansion.
  • Ukrainian decentralized loan/deposit provider Everlend gets $2.6M post-seed for product development and market expansion. The round was financed by GSR, Serum Foundation, Everstake Capital, Portico VC, and a number of business angels.
  • Ukrainian banking and tax application Fairo picks a €2M round to expand throughout Europe. The round was led by Raiffeisen Bank International.
  • Railway operations management startup SP Tech Solutions raises 5M PLN in funding to expand across Poland. The round was co-led by SpeedUp Bridge Alfa and Pomerangels.
  • Polish VR house/game studio Epic VR gets a 1.2M PLN to speed up the development of Reptile Park videogame and the Builder Simulator VR port. The round was led by Satus Venture.
  • Alternative meat startup Planeat picks a 1.1M PLN angel round to scale up the production and distribution of its products.
  • Polish agritech IoT solutions startup AgronetPRO raises 1M PLN for product development and sales. The round was led by
  • Bakery recycling and reuse startup Rebread gets 1M PLN to further work on its proprietary research. The round was led by Augere Health Food Fund.
  • Lithuanian books marketplace Sena picks up new funding round for product development and growth. The investment was made by LitCapital and its size remains undisclosed.

Startup Calls

  • How to Web conference in Bucharest continues selling tickets for the event. While at the conference, startup participants may connect with investors, showcase their company at a pitching session, and potentially win a €465K grand prize during the pitching challenge. The sale of tickets is open till the 1st of September.
  • The startup competition for women and women-impact startup She Loves Tech gathers applications for its 8th edition. The winners of the challenge will receive up to $125k in direct funding, mentorship, media coverage and relevant connections. The program is open for post-MVP startups that have raised less than $5M in funding and have at least one female founder or a majority of their use base in female consumers. The applications are open till the 12th of September.
  • Google announces the first nominees for its Ukraine startup program and continues gathering applications for it. The applications are open for companies founded before the 24th of February 2022 and those having some signs of initial traction. The applications are open till the 20th of September.
  • EIT Water Scarcity Initiative hosts a series of fundraising lectures for aspiring water-related businesses. The training course will be conducted by a group of internationally recognized experts and cost a symbolic 95 Euro while covering all aspects of the fundraising process. The registration is open on a first come, first serve basis.


  • Two Estonian tech parks, one in Tallinn’s Tehnopol and the other in Tartu science park, had won the bid to become operators for NATO’s DIANA accelerator.

Related Posts:

VC & Startup Weekly News From CEE, August 13 - 19, 2022 (by Ilya Mikhalchyk-Kananenka, Community Builder, Vestbee)

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) 


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