Every month, Vestbee compiles a list of the most significant financial rounds closed in Central and Eastern Europe and the broader European region, providing details on each deal. You can find below a list of 15 startups from CEE that received funds during May.
DeepL, €275M in a Series C
Location: Polish-founded with HQ in Cologne, Germany
Launch date: 2017
Funding source: Index Ventures, ICONIQ Growth, Teachers’ Venture Growth, IVP, Atomico, and WiL
Total funding received: €368M
Polish-founded DeepL, with offices in Germany and the UK, secured over €275 million in funding to further develop its platform and expand to new markets, including the US, Asia, and Latin America. The startup develops an AI-based translator platform offering human-like translations in 30 languages.
FintechOS, €55.3M in Series B
Location: Bucharest, Romania
Launch date: 2017
Funding source: Molten Ventures, Cipio Partners, BlackRock
Total funding received: €139M
FintechOS is a Romanian fintech startup with offices in London and New York. It develops a platform that streamlines and expedites the launch, servicing, and expansion of financial products and services. The startup has raised €55.3 million in Series B+ funding to streamline core system modernization for the financial services industry.
Fintech Farm, €9.2M in a Series B extension
Location: Ukrainian-founded with HQ in London, the UK
Launch date: 2020
Funding source: Bank of Georgia
Total funding received: €36.4M
Established by Ukrainians, London-based Fintech Farm specializes in launching neobanks in partnership with traditional banks worldwide. In May, Fintech Farm closed a €29.5 million Series B round to expand its operations to India. The initial, €20.3 million Series B funding, was raised by the startup in April 2023.
Parkl Digital, €4M
Location: Budapest, Hungary
Launch date: 2016
Funding source: Lead Ventures
Total funding received: €4M
Budapest-based Parkl Digital develops a mobile app for secure, cashless parking and EV charging services for office buildings and companies, offering convenient street parking and charging locations. In May, the startup secured $4 million to finance the growth of its digital mobility services.
Pythagora AI, €3.7M
Location: Croatian-founded with HQ in San Francisco, the US
Launch date: 2023
Funding sources: Y Combinator, Inovo, 500 Emerging Europe, Moonfire, Rebel, Uphonest Capital
Total funding received: €4.15M
In May, Croatian-founded web app development tool Pythagora AI closed a €3.7 million funding round The startup automates developer workflows, streamlining tasks from debugging and refactoring to code commits and bug fixes
Behavio, €2.25M in a seed round
Location: Prague, Czech Republic
Launch date: 2022
Funding source: Airbridge Equity Partners
Total funding received: €3.5M
Prague-based brand management solution Behavio has raised €2.25 million in a seed round backed by Airbridge Equity Partners to expand in the US and across Europe and enhance its product by integrating advanced AI features. The startup offers dashboards that provide insights into specific ads and brand health, employing advanced behavioral research methods.
Delta Green, €2.2M
Location: Pilsen, Czech Republic
Launch date: 2008
Funding sources: Credo Ventures, Purple Ventures, Tilia Impact Ventures
Total funding received: €2.2M
Delta Green is a Pilsen-based energy tech startup that develops technologies and software solutions to make flexible electricity consumption accessible to households, promote renewable sources, and reduce emissions from power plant operations. The startup has secured €2.2 million to expand its operations into Western Europe.
Nanordica Medical, €1.75M
Location: Tallinn, Estonia
Launch date: 2019
Funding source: Amalfi, Specialist VC, Superangel
Total funding received: €4.7M
Estonian medtech Nanordica Medical has raised €1.75 million to develop its first wound dressing for humans. The startup develops a technology combining antibacterial nanoparticles, offering eight times more effective treatment for infected wounds than conventional methods.
Pixevia, €1.5M
Location: Vilnius, Lithuania
Launch date: 2015
Funding sources: Coinvest Capital, Iron Wolf Capital, Omni Commerce Ventures, Open Circle Capital
Total funding received: €2.5M
Vilnius-based Pixevia, which offers an AI-based platform for retail, has secured €2.5 million in funding led by Coinvest Capital. With the fresh capital, Pixevia plans to grow in the United States and Europe, particularly in the DACH region.
Product Fruits, €1.47M
Location: Prague, Czech Republic
Launch date: 2019
Funding source: Reflex Capital
Total funding received: €3.6M
Prague-based Product Fruits develops a digital adoption platform tailored for product managers to craft custom user onboarding workflows seamlessly, without the need for coding. The startup secured €1.47 million from Reflex Capital to further develop its AI-based platform.
Quantia, €1.1M
Location: Poland
Launch date: 2023
Funding source: Inovo VC, Team X, Ariel Finkelstein, Dominique Locher,Ben Lang
Total funding received: €1.1M
Polish startup Quantia specializes in developing an e-commerce analytics platform designed to enhance the productivity of brand managers in managing product sales and data. In May, it secured €1.1 million to further develop its product and expand in Europe.
LILEDU, €625k
Location: Vilnius, Lithuania
Launch date: 2020
Funding source: BADideas.fund, FIRSTPICK, HEARTFELT
Total funding received: €625k
Vilnius-based LILEDU is an educational toy subscription service that provides kids with age-appropriate educational toys. The startup raised €500,000 in a funding round to expand its service in the UK and Germany.
CARÁ Health, €620k
Location: Tallinn, Estonia
Launch date: 2022
Funding source: Tera Ventures, Burak Büyükdemir
Total funding received: €750k
Estonian healthcare firm CARÁ Health offers a health and wellness platform offering a wide range of features, including educational content, product recommendations, podcasts, masterclasses, and service referrals. In May, CARÁ Health secured €620,000 in a funding round to improve its technology and expand its operations into the German-speaking DACH region.
AM Craft, €600k in a pre-seed round
Location: Riga, Latvia
Launch date: 2018
Funding source: Change Ventures, BADideas.fund.
Total funding received: €600k
Riga-based aircraft parts manufacturer AM Craft raised a €600,000 pre-seed funding round to further expand its operations globally. The startup is a provider of polymer additive manufacturing for the aviation industry, specializing in designing, manufacturing, and offering 3D-printed aircraft interior parts.
Esgrid, €500k in a pre-seed round
Location: Tallinn, Estonia
Launch date: 2023
Funding sources: Lemonade Stand, EstBAN, Startup Wise Guys, Little Green Fund
Total funding received: €500k
Tallinn-based SaaS company Esgrid offers value chain sustainability management solutions for medium-sized enterprises and financial institutions. The startup raised €500,000 in pre-seed funding to develop value chain management tools tailored for the finance and business sectors.
