9 Top CEE Funding Rounds Closed In February 2020

Anna Kazmierczak Analyst, Next Road Ventures

The new year of 2020 brings fresh deals to the table. The beginning of February was not as intense in the number of transactions as January and December and but without any doubt still very much interesting. Let’s have a look on the top February VC deals in the CEE region!

Nomagic

Location: Warsaw, Poland
Launch date: 2017
Funding Round: Seed €8M
Funding Source: Manta Ray Ventures, Capnamic Ventures, Khosla Ventures, Hoxton Ventures, DN Capital, Bitspiration Booster
Total funding received: €8M

Nomagic produces AI-backed pick and place robots for fast and effective fulfillment process optimization. The startup aims to support human labour in easy and repetitive activities undertaken in a warehouse or store. The team behind the project has an impressive engineering background, among others a CEO, Kacper Nowicki, is a former Google Engineering Director. In February the Warsaw startup pocketed an €8M seed round from big investors, among others a Silicon Valley-based Khosla Ventures and Kulczyk’s Manta Ray. With a strong team behind the project and prominent investors on deck, the startup is definitely the one to watch in the upcoming months.

Edurio

Location: Riga, Latvia
Launch date: 2014
Funding Round: Seed €525K
Funding Source: Practica Capital, Capitalia, Angel Investors
Total funding received: €2.7M

Edurio aims to improve the level of teachers’, students’ and parents’ satisfaction concerning the functioning of school or university. Very often there is much to be desired, and the best way to understand the real needs of all the stakeholders is to listen to them. Latvia-based startup knows that very well. Edurio delivers an analytical tool that allows research-based survey creation, analysis of the outcomes and improvements progress tracking. The tool is used among 1000 schools internationally, from Riga to London. The current investment round of €525K will help the startup to strengthen its position in the UK, where it is already a leading solution of that kind.

TrustMate

Location: Wroclaw, Poland
Launch date: 2018
Funding Round: Seed €500K
Funding Source: Next Road Ventures, Business Angels
Total funding received: €800K

TrustMate offers SaaS software for collecting and managing customers' reviews online. Thanks to the startup’s technology, companies with an online presence can increase their web traffic, as well as strengthen and maintain their visibility and credibility. The strong team behind the project, among others CEO Jerzy Krawczyk (ex-CEO in Opineo.pl, Skąpiec.pl), has a vast experience in the e-commerce and IT sector and understands well the needs of online business. After pocketing the €500K seed round from Next Road Ventures the company is planning to facilitate its technology with new functionalities and expand the sales abroad.

FanSifter

Location: Tallinn, Estonia
Launch date: 2019
Funding Round: Pre-seed €280K
Funding Source: Techstars, Bellone Invest, Webinfluence Group, Change Ventures Fund I, Siena Capital.
Total funding received: €280K

Tallinn-based startup FanSifter provides organizers with the data insights about the participants of their events etc. concerts, sports events. The platform delivers data on attendees characteristics and allows performance marketing automation based on that. Thanks to machine learning technology used by the startup, events organizers can save time on manual data collection and analytics as well as increase the effectiveness of marketing personalization. FanSifter is the first Estonian startup to join prestigious acceleration program Techstars Music Los Angeles, partnering with, among others, Warner Music Group and Sony. The recent pre-seed investment of €280K was provided by top tier players like Techstars or Change Ventures Fund I.

Cateringoo

Location: Warsaw, Poland
Launch date: 2017
Funding Round: Seed €460K
Funding Source: Knowledge Hub
Total funding received: N/D

Cateringoo is a food marketplace connecting business with catering providers. It supplies a solution for so far long and tedious process of ordering the best catering for business events. The current version of the project is a result of merger of two Warsaw-based startups - Caterfly by Daftcode and Cateringoo by Natalia Myszkowska. By combining Caterfly’s experienced team and Cateringoo’s know-how the startup is building it’s strong position yet on the Polish market, and soon to be also abroad. The recent round of €460K was the first VC investment in the startup, preceded by funding from Daftcode and own financial resources of Natalia Myszkowska - CEO of Cateringoo. It will be used on further expansion in Poland.

Glocalzone

Location: Tallinn, Estonia
Launch date: 2018
Funding Round: Seed €150K
Funding Source: Angel Effect
Total funding received: €300K

With Glocalzone you can now buy anything from anywhere in the world. It is thanks to the idea to connect travelers with users willing to buy products that are not accessible via online shopping. Instead of giving up on shopping, they can now make an order via the community of travelers. The peer-to-peer Glocalzone platform connects two sides of the process via mobile app. The payment from the user interested in buying a product is processed via app, but the traveler receives the money only after he/she delivers the ordered product. The recent seed round of €150K pocketed by Glocalzone was led by Angel Effect and will be spent on trialing on the new markets.

BrikkApp

Location: Prague, Czech Republic
Launch date: 2018
Funding Round: Seed €500K
Funding Source: Frantisek Novotny, Ales Hudecek
Total funding received: €503K

BrikkApp is just the right place for investors who are willing to invest their funds via crowdfunding in real estate ventures starting from as little as 100€. The platform provides a comparison of offers, collected from various sources, all right in one place. Sounds promising, especially in the times of rising trend of real estate crowdfunding. Still, the platform is the beta version, but after successfully pocketing €500K it is on the right way to successful market expansion.

Sinterit

Location: Krakow, Poland
Launch date: 2014
Funding Round: Series B €2.3M
Funding Source: EEC Ventures
Total funding received: €3.4M

Krakow-based Sinterit produces SLS printers - a smaller category of 3D printers, which are now affordable not only to big corporations but also to smaller businesses. The difference between the FDM (Fused Deposition Modeling) 3D printers and SLS (Selective Laser Sintering) printers is that the second, yet more advanced version, allows printing of objects, that were impossible to be printed in the traditional way before. Big names like BMW, Toyota or Bosch have trusted Sinterit already. After pocketing €2.3M series B from EEC Ventures the company is planning further product and geographical expansion.

Mutumutu

Location: Prague, Czech Republic
Launch date: 2018
Funding Round: Seed €1.1M
Funding Source: Societe Generale Assurances
Total funding received: €2.7M

A Prague-based startup Matumut makes a non-pleasant process of choosing insurance fast and simple. The company provides an intuitive platform for buying life insurance online. What is new about the concept is the way of incentivizing clients to stay healthy. Those who maintain a healthy lifestyle receive discounts on the offer. The platform keeps track of the users’ activity, by connecting to his/her mobile health app. The €1.1M round raised from one of the leading French bancassurance Societe Generale will help Mutumutu to expand its client base by three times.

These are the chosen 9 startups from Central & Eastern Europe that successfully closed funding rounds in February. Stay tuned for the March funding news!

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