Apply To Startups Of The Month

13 May 2024·4 min read

Lisa Palchynska

Editor-in-Chief, Vestbee

VC & Startup weekly news from CEE, May 4-10, 2024

Notable funding rounds across Europe:

  • Spanish HRtech Sesame, which helps to automate routine HR tasks, has raised €23 million from GP Bullhound and existing investor PSG.
  • German biotech Insempra has completed a $20 million Series A financing round from existing investors and new ones, including Henkel dx Ventures, Bayern Kapital, and Alante Capital.
  • Oxford-based climate tech Dendra Systems has secured over $15.5 million to develop its solution that helps to restore and rehabilitate lands by reseeding, using AI and drones. 
  • Italian edtech company Futura has raised €14 million in Series A funding. The round was led by Eurazeo, with participation from United Ventures and Axon Partners Group.
  • French medical device company inHeart has raised more than €10 million in order to speed up the creation and launch of new therapeutic, predictive, and screening cardiac solutions. The round was led by Vesalius Biocapital IV.
  • UK legaltech company Definely that develops software for making legal documents easier to read, edit and understand, has raised $7 million Series A funding.
  • Copenhagen-based climate tech startup Electricity Maps has raised €5 million to accelerate the electrical grid's data-driven decarbonization. The round was led by Transition and Revent VC funds.
  • London-based life insurance startup Eleos has raised a $4 million seed funding led by Fuel Ventures and Indico Capital, with participation from APX. 
  • Zurich-based startup mimic has raised $2.5 million in a pre-seed round led by Swiss investor Founderful.
  • Delft-based modern provider of medical devices, SLAM Orthopedic, has raised a €2 million seed investment to introduce its fracture therapy sensor onto the market in Europe.

CEE startup funding rounds & acquisitions:

  • Founded by Ukrainians, Fintech Farm, a company that specializes in launching neobanks in partnership with traditional banks worldwide, has raised $32 million to expand into the Indian market. 
  • Hungarian visual recognition software developer Deligo has secured $3 million in a round led by Frontline Ventures. 
  • Ukrainian SID Venture Partners has invested in three American-founded startups: Iris Finance, Relari, and Vendora. The amount of each investment has not been disclosed. The average ticket size of the fund amounted to $300,000.
  • US inventory and order management software provider Cin7 has acquired Czech Inventoro, an AI-driven sales forecasting company.

New venture capital funds and VCs’ news:

  • German Armira Growth has secured €200 million for its inaugural Armira Growth Fund I. It was backed by the firm's existing portfolio companies, including Osapiens, Wemolo, Workwise, and Yoummday.
  • Bucharest-based venture capital firm Early Game Ventures has announced the launch of its €60 million Fund II, which will invest in early-stage startups across the CEE region.

Startup calls & Events:

  • Iceland Innovation Week '24

Starting on May 13, Iceland Innovation Week '24 now in its fifth edition, runs until May 17. The festival welcomes founders, investors, and representatives from larger companies and public institutions. With a focus on the theme of Waste, the event aims to highlight its positive aspects and harness available resources for a sustainable future. 

The week's highlight takes place on May 15-16 at Kolaportid in downtown Reykjavik, showcasing insights from experts at Microsoft, Snapchat, or Google, alongside a climate conference named Climate Theater. For further details on Iceland Innovation Week and to secure your tickets, visit the Iceland Innovation Week '24 website.

  • Female Startup Pre-Accelerator by Huge Thing 

Huge Thing has initiated the recruitment process for its Female Startup Pre-Accelerator, designed for female entrepreneurs with Polish or Ukrainian citizenship.

Lasting two months, the initiative will provide participants with a series of workshops focused on topics such as testing business hypotheses, product development, building marketing strategies, and preparing for valuation and fundraising. Through this program, ten finalists have the opportunity to secure a $10,000 equity-free grant to kickstart their business ventures and advance their entrepreneurial endeavors.

The recruitment process for the Female Startup Pre-accelerator has begun and will continue until May 31, 2024 — accessible through the Huge Things website or Vestbee platform.

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