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weekly news by vestbee.com
18 March 2024·4 min read

Lisa Palchynska

Editor-in-Chief, Vestbee

VC & Startup weekly news from CEE, March 9-15, 2024

Notable funding rounds across the EU:

  • UK cash deposit platform Flagstone has raised a £108 million equity investment by Estancia Capital Partners, a US financial services specialist private equity firm. 
  • Netherlands-based journey management platform TheyDo has raised an additional $34 million funding. The round was led by La Famiglia and Discovery Ventures.
  • Swedish Voi has raised $25 million in a combination of equity and debt from existing investors VNV Global, Raine Group, Nineyards Equity, Balderton, Creandum, and Project A.
  • Griffin, a London-based Banking-as-a-Service fintech, has raised $24 million in a Series A extension. The round was co-led by MassMutual Ventures, Nordic Ninja and Breega and also saw participation from Notion Capital and EQT Ventures. 
  • German gastrotech app NeoTaste has closed a Series A funding round, raising a total of €21 million, with €15.1 million secured as a Series A extension. Earlybird Venture Capital led the round.
  • French deeptech startup SUBLIME Energy has secured €11.5 million in a funding round led by the Environment and Solidarity Revolution Fund managed by Credit Mutuel Impact and PSL.
  • German chaos engineering platform Steadybit has raised $6 million in Series A funding led by Paladin Capital Group. Previous investors, Boldstart Ventures, Angular Ventures, and NewForge, also participated.
  • French medtech startup HawkCell that develops MRI plug-and-play solution for veterinary use has closed €5 million Series A funding. The round was led by MIG Capital, with participation from a French investment bank. 
  • German data product management company, Mindfuel, has closed a €3.75 million seed funding round led by Project A Ventures. 
  • Bristol-based battery tech company Anaphite raised £1.6 million, consisting of £685,000 grant via the Investor Partnerships Future Economy program and more than £880,000 from private investors, including Elbow Beach Capital, Wealth Club, Bristol Private Equity Club.

New venture funds and VCs’ news:

  • Dutch venture builder DeepTechXL has raised €110 million through contributions from ASML and pension fund PME. It focuses on investing in complex technologies such as photonics, complex mechanical engineering, semiconductors, and quantum computing. 
  • UK-based Ada Ventures has closed an oversubscribed £63 million second fund from institutional LPs. The team plans to invest between £250,000 and £1.5 million in pre-seed and seed-stage startups, with a significant amount allocated for follow-ons.

CEE startup funding rounds & acquisitions:

  • Estonian deeptech startup GScan has raised a seed funding round of €3 million from investors, including Markus Villig, the founder of Bolt, Japanese corporate venture funds, and existing business angels.   
  • Mapon, a Riga-based platform for fleet management and asset tracking, has issued bonds worth €3 million, attracting private and institutional investors.
  • Polish-founded edtech Smartschool raises $1.5 million from Inovo VC, The Explorer Fund, and business angels. The startup will use proceeds to strengthen its presence in the US.
  • Himera, a Ukrainian developer of secure communication radio stations, has raised $525,000 from a group of angel investors. Using the funding, the startup plans to launch the next version of the product and receive a government order this year.
  • Lithuanian defence tech startup Broswarm has raised $100,000 in a round led by ScaleWolf. The funds will help it to improve the global approach to mine detection using drones.

Startups calls & Events:

On June 19-20, Oradea isn’t just a city – it’s the beating heart of fintech innovation in Central Eastern Europe. The UNCHAIN Fintech Festival is back, transforming the historic fortress into a dynamic hub where the future of finance and technology converges in a spectacular outdoor setting.

Joining the dialogue will be 500+ business delegates representing 250+ unique companies, making UNCHAIN not just an event but a nexus for networking and collaboration. The festival boasts 70% representation from the banking and financial industry, including CEOs, upper management, and key decision-makers.

Secure your spot at the UNCHAIN Fintech Festival on 19-20 June 2024. Visit the website for more information.

Related Posts:

VC & Startup weekly news from CEE, March 2-8, 2024 (by Lisa Palchynska, Vestbee)

VC & Startup weekly news from CEE, February 24-March 1, 2024 (by Lisa Palchynska, Vestbee)

VC & Startup weekly news from CEE, February 17-23, 2024 (by Lisa Palchynska, Vestbee)

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