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Weekly News -
25 September 2023·7 min read

Sofia Drobychevskaya

VC & Startup Weekly News From CEE, September 16 - 22, 2023

Notable Funding Rounds across the EU:

  • Copenhagen-based health-tech startup Corti secured $60M in Series B funding to expand its AI-driven services supporting healthcare providers in delivering timely, accurate care. The funding round was co-led by Prosus Ventures and Atomico.
  • Austria-based Metaloop has secured over €16M in Series A funding led by FirstMark Capital. Metaloop provides a software solution covering matchmaking, logistics, recycling, financing, and trade discovery in the scrap metal recycling industry.
  • Munich-based E-mobilio secured Series A €9.5M. Startup offers a holistic platform in the B2B segment that acts as a partner and advisor for the transition to 360° electromobility. The fund was led by SET Ventures together with ZAKA VC, Übermorgen Ventures, Wi Venture, Seed+Speed, Gateway Ventures, and German family office 2punkt7.

New Venture Funds:

  • Keensight Capital, based in Paris and London, has raised €2.8B round. The firm aims to invest in the healthcare sectors across Europe with revenues ranging from €10M to €400M.
  • Belgium-based Astanor Ventures has closed its second venture fund at €360M, focusing on fostering transformative change in agrifood and contributing to a sustainable bioeconomy.
  • Croatia's HBOR and EIF launched a €52M equity investment program to support Croatian businesses, mainly focusing on sustainability and innovation.
  • The European Investment Fund (EIF) has invested €40M in Blume Equity, a female-founded climate tech growth fund, focusing on investing in companies supporting the transition to a low-carbon economy, exclusively within Europe.
  • Prague-based Tilia Impact Ventures has introduced a €32M second fund. The fund will support CEE companies with a focus on Environmental, Social, and Governance (ESG) criteria, addressing climate, education, and healthcare challenges. The investment ticket typically involves initial equity or convertible debt funding of up to €1.5M with an investment horizon of one to 7 years.
  • Ukrainian early-stage ZAS Ventures has officially launched and is now accepting startup applications. ZAS Ventures supports Ukrainian B2B, B2C, and SaaS startups aiming for American or European markets. They aim to connect startups with partner firms in the USA and help them secure seed funding within a year.

Startup Funding Rounds & Acquisitions:

  • Romanian Databricks raised $500M from Morgan Stanley, Fidelity, Franklin Templeton, a16z, and Tiger Global. The platform assists in data management and AI development, making it easier for organizations to process large volumes of data efficiently.
  • Estonian logistics Cleveron has secured €3.5M led by the Danish Nordic Secondary Fund. Cleveron provides robotics-based parcel terminals and last-mile click-and-collect pickup solutions for rental and logistics sectors.
  • Ukrainian-founded startup Deskree, a no-code cloud infrastructure tool,  has secured €1.4M in a seed funding round from ZAKA VC, Flyer One Ventures, and Vesna Capital.
  • Polish-German startup Cardino, a startup focusing on used electric car sales, raises €1M in a pre-seed round. The round was co-led by Silence VC and FJ Labs, with DEPO Ventures
  • Ukrainian startup Saldo Apps, has secured $500k from lead investor hi5 Ventures.  Saldo Apps focuses on financial accounting applications for small and medium-sized businesses.
  • Redcurry, Estonia-based, has secured €400k in funding round participation from investors like Ecosh Life, Impulse Generator Fund. The startup is developing a real estate-backed digital currency set to launch globally in 2024.
  • Lithuanian startup AskToSell has secured €100k  in a round co-led by Startup Wise Guys and Specialist VC. AskToSell specializes in an AI platform designed to manage the entire sales cycle for small deals, automating and personalizing the sales process.
  • Romanian has secured a seed investment round led by Helvetia Venture Fund. allows companies to rent and easily manage devices like laptops and phones while providing integrated insurance.
  • Romanian Dexory has secured investment from Schenker Ventures to expand its solution across Europe and the US. The startup offers solutions to enhance visibility, optimize space utilization, and improve efficiency in warehouse operations.
  • Estonian tech company Nortal acquires Questers, a decentralized software development firm, from UK-based TPXimpact. The deal's amount is undisclosed.
  • Ukrainian tech leader beleven, a tech and mobile developer known for innovative solutions has acquired Agena Tech, a prominent technology company with a strong presence in the Nordic regions.
  • Polish fund SPINAKER alfa has invested in RBHR, a tool that recommends employee benefits based on their financial situation and needs.

Startup Calls:

  • The Startup Guide Pre-accelerator offers a 4-week, equity-free training program led by FIRSTPICK experts for early-stage startup founders. The program covers essential topics including reasons for startup success and failure, achieving product-market fit, business idea validation through experiments, market research, competitor analysis, fundraising options, and effective pitching for investors. The program is tailored for Lithuania-based startups, and applications are open until October 5th, 2023.
  • Poland-based ĀRYA Foundry launches ĀRYA Accelerate, an impact-focused startup accelerator. The 3-month program targets young entrepreneurs developing innovative solutions with social or environmental impact. Selected startups receive mentoring, workshops, and investment preparation. The winner of the first edition can secure a PLN 15k cash prize. Applications for the inaugural edition close on October 8.
  • ING has launched the 4th edition of its Grant Program, allocating PLN 1M for healthtech projects. The competition is open to startups, students with innovative ideas, and young scientists. The program aims to support the United Nations Sustainable Development Goal 3, focusing on health-related aspects such as physical health improvement, mental health care, and overall well-being. The application deadline is October 16, 2023
  • GreenTech 2.0, a community of green technology clusters, invites Lithuanian startups, companies, and research centers to register for B2B business missions aiming to establish partnerships with Swedish, Finnish, Polish, and Estonian partners. The #ClusterXchange Program offers business visits, 1:1 meetings, and workshops with industry leaders. The second CALL for ClusterXchange is open until October 31, 2023. Limited seats are available, so apply now to explore new markets.

Related Posts:

VC & Startup Weekly News,  September 9 - 15, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)

VC & Startup Weekly News, September 2 - 8, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)

VC & Startup Weekly News, August 26 - September 1, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)


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