10 Top CEE Funding Rounds Closed In January 2020

Anna Kazmierczak Analyst, Next Road Ventures
CEE Startups Funding Rounds Graphic

The new year of 2020 brings fresh deals to the table. The beginning of January was not as intense in the number of transactions as the last months of 2019, November and December but without any doubt still very much interesting. Let’s have a look, shall we?

99math

Location: Tallinn, Estonia
Launch date: 2018
Funding Round: Seed €454K
Funding Source: Change Ventures, Good Deed Education Fund, Martin Villig
Total funding received: €454K

Not often can we observe 19-years-old founders building technologically advanced startups and attracting top investors, like Martin Villig - co-founder in Bolt, to back their products. 99math led by Timo Timmi might be phenomena then! The Estonian edutech startup built by the teen helps students to acquire math skills via games. With over 30 000 elementary students on deck, the startup proves the need for convenient solutions for teaching complex and often not likable subjects like mathematics. Smart money and investors behind the startup aim to expand 99math globally with a mission to “engage thousands of students in the world to practice math”. Estonia makes a great base camp to start, as it leads in the ranking of top students results specifically in the field of maths.

Autenti

Location: Poznan, Poland
Launch date: 2013
Funding Round: Series A €4.1M
Funding Source: BNP Paribas, Alior Bank, PKO BP
Total funding received: €5.6M

A startup widely recognized on the Polish startup area secured the high-profile deal from three well-known banks. The latest series A investment of €4.1M in Autenti was not without a buzz. A startup, supported by well known financial institutions and top polish VCs (Innovation Nest, Black Pearls) provides an e-signature system, allowing clients to automate the contracting process. Signing documents via the system not only saves your time but also has a positive impact on a paper use reduction. Instead of struggling to collect signatures in person, you can do it with the help of Autenti in a fast, convenient and sustainable way. Just like that!

Daytrip

Location: Prague, Czech Republic
Launch date: 2015
Funding Round: series A €1M
Funding Source: Nation 1, J&T Ventures
Total funding received: €1.6M

People nowadays want to experience things and Daytrip is well aware of that. The Prague startup connects tourists with the local drivers and lets them feel the unique experience of the inter-city transfers with locals. Travelling from a city to city with a private driver, who not only knows the place like no other but can show you spots no tourist guide could possibly know about. Sounds like fun! Daytrip, founded in 2015, has already matched over 2000 drivers with more than 160 000 clients, which only shows that tourists actually can feel the vibe. The recent funding of €1M, which is a part of the ongoing series A round, was led by the previous investors of the startup and it will be spent on the further expansion of the platform.

Evertoys Romania

Location: Bucharest, Romania
Launch date: 2015
Funding Round: €162.5K
Funding Source: Equity Crowdfunding
Total funding received: €162.5K

Tons of toys and only a few of them used by a child? Why own countless numbers of playthings instead of just borrowing new ones every month? Evertoys, a startup based in Romania, came up with the idea that can make your kid happy, at the same time saving you from the mountains of toys stocked in your house! The platform works in a SaaS model offering its users 4 different playbox offers with price depending, among others, on the kind of toys included and number of toys’ exchanges possible. The monthly fee varies between 15€ - 30€. Evertoys has raised its first funding of €162.5K in a form of equity crowdfunding. The funding process lasted for 20 days, which was 3 times faster than expected. That definitely means people liked the idea!

GoRamp

Location: Vilnius, Lithuania
Launch date: 2017
Funding Round: Seed €120K
Funding Source: Startup Wise Guys, Presto Ventures, Gintautas Lukauskis
Total funding received: €120K

GoRamp is a platform for transport ordering management. It allows real-time information flow between all the parties engaged in the logistics process. Everything happens via one tool and all the data is stored in one place. It sounds like a convenient solution to back as complex business as supply chain and logistics management. Moreover, it is especially promising in the field of transport management, which still lacks innovation and process transparency. The new investment by, among others, Startup Wise Guys will help to strengthen the market position of the startup in the Baltics, but also expand to the next big market in the region - Poland.

Jeff

Location: Riga, Latvia
Launch date: 2019
Funding Round: Pre-seed €150K
Funding Source: Tadas Langaitis and other non disclosed investors
Total funding received: €150K

Founders present the startup as a “Tinder for loans”. As simple as it sounds, it is the best place for seeking loans. The user interested in finding the most convenient loan offer on the market answers a few questions asked by a chatbot Jeff App. In the next step, Jeff searches for the best bid available on the market and lets the borrower choose the fit. It’s simple, it’s fast and it’s free! The startup focuses the sales on the Asian market, in specific Vietnamese and the secured investment round will be spent on further expansion to Indonesia. It’s safe to say, that Jeff has already succeeded in the startup world gaining the image of a highly promising project to its credit. It is thanks to US Forbes Cover and the win in Seedstart finals, making it to the top of 50 startups out of over 8000.

MySpotit

Location: Tallinn, Estonia
Launch date: 2018
Funding Round: Seed €90K
Funding Source: Mikko Silventola, Martin Villig, Taavi Tamkivi, Asso Lankots, Martin Otsa
Total funding received: €200K

You have a meeting set, but still concerned about where to hold it? MySpotit can help you! The Estonian startup provides a platform for business meeting rooms bookings. In simple terms, you choose the date, location and facilities needed during the meeting, and MySpotit suggests you best space fits outside your office. It is a great solution for people working from home or just those who simply don’t have a suitable meeting space available. MySpotit was launched in 2018 and yet it has already 120 clients on the board, among others Transferwise and Bolt. The secured investment funds will be used on product development and expansion.

Novakid

Location: Krakow, Poland
Launch date: 2017
Funding Round: Seed €1.3M
Funding Source: LETA Capital, BonAngels VC
Total funding received: €1.9M

Polish startup operates in the field of e-education, which is dynamically developing in Asia right now. Novakid, an educational platform for learning English online, targets students of 4-12 years and provides them with the best language experience possible - classes with native speakers via the virtual world. Not only are the virtual classes attractive in terms of their dynamic and never boring form, but also in terms of accessibility and convenience. The kid can connect with the specialised teacher without leaving the room and the parents can make sure that a child makes most of the experience. At the moment the startup works with students from 36 different countries and the recent investment will be used on further geographical expansion. With South Korean VC on deck (BonAngels) a startup is on the good path.

Pethelp

Location: Warsaw, Poland
Launch date: 2018
Funding Round: Seed €470K
Funding Source: STATUS Starter
Total funding received: €570K

Warsaw-based Pethelp takes care of the wellbeing of your furry friend, by delivering you a subscription plan for vet services. In just three steps, you decide on the healthcare package for your dog or cat you wish to purchase. After the payment, you have access to a number of clinics in the network, which makes it easy for you to take care of your pet’s condition wherever you are. In addition, you are being rewarded for every check-up in the clinic. Pethelp is the first startup of that kind on the Polish market. It aims to introduce transparency of pricing to the sector and make access to the best vet clinics fast and affordable. Without a doubt, we should keep an eye on that project...it looks promising!

Wereldo

Location: Brno, Czech Republic
Launch date: 2018
Funding Round: Seed €400K
Funding Source: Lighthouse Ventures
Total funding received: €400K

Wereldo operates in the area of logistics, focusing on digitizing, analyzing and optimizing the supply chain of a client. It supplies the logistics business with data-driven features allowing it to make the best decisions based on the analysed data and not assumptions. Wereldo makes it easy, fast and cost-efficient to move goods between two points and by different means of transport. The monetization of the product includes a monthly fee with the amount depending on the number of orders, vehicles and additional features implemented. After pocketing the investment of €400K the startup aims to develop its product, build up the team and expand globally.

These are the chosen 10 startups from Central & Eastern Europe that successfully closed funding rounds in January. Stay tuned for the February funding news!

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