Every month, Vestbee compiles a list of the most significant financial rounds closed in Central and Eastern Europe and the broader European region. Recently, we published a selection of startups from CEE that secured funding in August providing details on each deal. You can find below a list of startups and scaleups that received funds during August.
Cloudpay, €108M
Location: London, the UK
Founded in: 1996
Total funding received: €339.3M
Recent funding resources: Blue Owl Capital, Rho Capital Partners, The Olayan Group, Hollyport Capital
London-based fintech Cloudpay, which develops global payroll and payment solutions, has secured €108 million in funding led by Blue Owl Capital. This infusion of capital will bolster Cloudpay's financial foundation and provide flexibility for future growth opportunities.
Riverlane, €68M in a Series C
Location: Cambridge, the UK
Founded in: 2016
Total funding received: €108.9M
Recent funding resources: Planet First Partners, ETF Partners, EDBI Pte Ltd, Cambridge Innovation Capital, Amadeus Capital Partners, the National Security Strategic Investment Fund (NSSIF), Altair
Cambridge-based Riverlane develops a Quantum Error Correction Stack, which aims to make quantum computing practical by correcting data errors in current quantum computers. Its recent €68 million Series C funding round will allow the startup to expand its operations to meet the growing demand for QEC technology from hardware companies and governments worldwide.
Morpho Labs, €45M
Location: Paris, France
Founded in: 2021
Total funding received: €61.4M
Recent funding resources: Ribbit Capital, a16z crypto, Coinbase Ventures, Variant, Pantera, Brevan Howard, BlockTower, Kraken Ventures, Hack VC, IOSG, Rockaway, L1D, Semantic, Mirana, Cherry, Fenbushi, LeadBlock Bitpanda Ventures, Robot Ventures
Paris-based Morpho Labs, a DeFi lending protocol offering an open platform for earning yield, borrowing assets, and building financial applications, secured €45 million in August. The fresh capital will enhance its decentralization and support its mission of making financial infrastructure a public good.
Healx, €42.4M in a Series C
Location: Cambridge, the UK
Founded in: 2014
Total funding received: €103.8M
Recent funding resources: R42 Group, Atomico, Balderton, Jonathan Milner, Global Brain, btov, Ayana Capital, o2h, VU Venture Partners.
Cambridge-based biotech startup Healx, which applies emerging technologies to accelerate the discovery of treatments for rare diseases, has secured €42.4 million in a Series C funding round. The investment was co-led by R42 Group and Atomico.
MYNE Homes, €40M in a Series A
Location: Berlin, Germany
Founded in: 2021
Total funding received: €63.5M
Recent funding resources: Limestone Capital AG, Motive Ventures, Scope Hanson, blueworld.group
Berlin-based vacation digital co-ownership platform MYNE Homes, which simplifies the buying, owning, and selling process for vacation homes, has secured €40 million in Series A funding led by Limestone Capital AG. The funds will support the development of MYNE Homes' platform, facilitate expansion into new markets such as Croatia and Portugal, and enable the expansion of its offerings to customers in the Benelux countries and the UK.
Attio, €29.8M in a Series B
Location: London, the UK
Founded in: 2019
Total funding received: €58M
Recent funding resources: Redpoint, Balderton Capital, Point Nine, 01 Advisors
London-based Attio, a software firm that builds data-driven and customizable CRM solutions, has secured €29.8 million in a Series B funding round. The fresh funding will allow the startup to accelerate its mission of creating the definitive CRM for the next generation.
Black Forest Labs, €28M in a seed round
Location: Baden-Wurttemberg, Germany
Founded in: 2024
Total funding received: €28M
Recent funding resources: Andreessen Horowitz, Brendan Iribe, Michael Ovitz, Garry Tan, Timo Aila, Vladlen Koltun, General Catalyst, MätchVC
German startup Black Forest Labs, which develops advanced generative deep learning models for images and videos with a focus on accessibility and transparency, secured €28 million in seed funding this August. The recent round will advance its mission of delivering cutting-edge AI from Europe to an international audience.
Flower, €25M in a Series A
Location: Stockholm, Sweden
Founded in: 2020
Total funding received:
Recent funding resources: 82an Invest, Northzone, Zebkei Invest
Swedish energy management platform Flower, which leverages knowledge and AI to optimize electricity flexibility, has secured €25 million in a Series A funding round. The investment will be used to advance battery energy storage solutions and enhance grid integration.
TILT, €16.2M in a Series A
Location: London, the UK
Founded in: 2021
Total funding received: €18.9M
Recent funding resources: Balderton Capital, TQ Ventures, Earlybird, Seedcamp
London-based e-commerce startup TILT, which allows users to buy through videos and live streams and earn rewards, has raised €16.2 million in a Series A funding round. The investment will help the startup continuously innovate within the fashion sector.
CroíValve, €14.4M in a Series B
Location: Dublin, Ireland
Founded in: 2016
Total funding received: €29.9M
Recent funding resources: MedTech, Irrus Syndicates, Ascentifi, Furthr, Broadview Ventures, Atlantic Bridge University Fund, Enterprise Ireland, Elkstone, SOSV, IAG Capital Part
Dublin-based medical equipment manufacturing company CroíValve, which is developing a transcatheter device to repair the tricuspid valve, has raised €14.4 million in a Series B round. The funding will support the TANDEM II US Early Feasibility Study of the DUO System for patients with severe or greater symptomatic tricuspid regurgitation.
Avian Labs, €13.5M in a Series A
Location: London, the UK
Founded in: 2022
Total funding received: €18.1M
Recent funding resources: Ribbit Capital, Slow Ventures, Union Square Ventures
London-based payment app Avian Labs, which offers simple, fast, and global payment solutions, has raised €13.5 million in a Series A funding round. The new capital will advance the startup's goal of transforming global money transfers.
FRVR, €11.6M
Location: Lisbon, Portugal
Founded in: 2014
Total funding received: €85.6M
Recent funding resources: Hiro Capital, Iberis Capital, Indico Capital Partners, Lince Capital
Lisbon-based gaming distribution platform FRVR, which connects players with browser-based games, has secured €11.6 million in a funding round to further develop its platform. This investment will enhance its AI engine for more personalized gaming experiences and expand its creator economy to support and empower creators worldwide.
Promethean Particles, €9.5M in a Series A
Location: Nottingham, the UK
Founded in: 2008
Total funding received: €10.1M
Recent funding resources: Aramco Ventures, British Business Bank, Mercia Ventures, TSP Ventures, University of Nottingham
Nottingham-based cleantech company Promethean Particles, which manufactures industrial-scale, cost-effective nanomaterials with a focus on decarbonization applications, raised €9.5 million in a Series A round in August. The funds will be used to expand its manufacturing facility, strengthen its team, and undertake additional projects that highlight the potential of Metal-Organic Frameworks (MOFs) in energy transition applications.
Axle Energy, €8.1M in a seed round
Location: London, the UK
Founded in: 2023
Total funding received: €9.6M
Recent funding resources: Accel, Picus Capital, Eka Ventures, Nico Rosberg, Amit Gudka, Sierra Peterson, Hanno Renner
London-based energy flexibility startup Axle Energy, which aims to eliminate fossil fuels from the grid, has raised €8.1 million in a seed funding round led by Accel. The capital will be used to expand its operations across Europe and globally, as well as to grow its engineering team.
Root Global, €8M in a seed round
Location: Berlin, Germany
Founded in: 2022
Total funding received: €10.5M
Recent funding resources: Point Nine, Project A, HelloWorld, Arc Investors
Berlin-based startup Root Global, which helps companies in the food system achieve Net Zero, has secured €8 million in a seed funding round. The startup plans to expand its team to further develop the company and make a meaningful impact on climate change.
PL BioScience, €7.8M in a Series A
Location: Aachen, Germany
Founded in: 2015
Total funding received: €11.5M
Recent funding resources: Better Ventures, AVANT BIO, LePure Biotech, b.value AG, Brightlands Venture Partners, TechVision Fonds
Aachen-based biotech startup PL BioScience has secured €7.8 million in a Series A funding round. The fresh funding will enable the company to expand its production capacities and strengthen its position in the global cell culture market, with a focus on innovative Human Platelet Lysate (HPL) as a sustainable alternative to conventional media.
BeyondMath, €7.6M in a seed round
Location: London, the UK
Founded in: 2022
Total funding received: €9.5M
Recent funding resources: UP.Partners, Insight Partners, InMotion Ventures, Creator Fund
London-based BeyondMath, known for its AI-driven approach to simulating the physical world, has secured €7.6 million to accelerate its digital design process. The startup plans to double its workforce and enhance its computing capabilities by acquiring Nvidia DGX 200s while collaborating with the chipmaker on a new application.
XO Life, €7M
Location: Munich, Germany
Founded in: 2018
Total funding received: €9M
Recent funding resources: Sandwater, Grazia Equity, Vi Partners, Bayern Kapital, escuvest, Isartal Ventures, Winning Mindset, MediVentures GmbH, Capacura
Munich-based patient support software company XO Life, which provides real-time patient insights and feedback across various treatments and indications, has secured €7 million in a funding round led by Sandwater and Grazia Equity. The funds will be used to further develop its platform and expand its international reach.
Roger, €7M in a seed round
Location: Berlin, Germany
Founded in: 2021
Total funding received: €14M
Recent funding resources: GV (Google Ventures), Partech
Berlin-based patient relationship management platform Roger, which aims to empower doctors by eliminating administrative burdens, has secured €7 million in seed funding. This investment will enable Roger to expand its product offerings, explore new market opportunities, and support research and innovation in healthtech solutions.
DRIFT Energy, €5.9M in a seed round
Location: London, the UK
Founded in: 2021
Total funding received: €5.9M
Recent funding resources: Octopus Ventures, Blue Action Accelerator
London-based startup DRIFT Energy uses sailing vessels to produce green hydrogen at sea and deliver it globally for clean energy. In August, the startup secured €5.9 million in seed funding to develop its first green hydrogen-producing ship.
trumpet, €5.7M in a seed round
Location: London, the UK
Founded in: 2021
Total funding received: €7.5M
Recent funding resources: AlbionVC, Lightbird, Anamcara, Triple Point, CoBuild Ventures
London-based digital salesroom startup trumpet, offering interactive and auto-personalized spaces to streamline buyer journeys and close deals faster, has secured €5.7 million in seed funding to expand into the US market and develop AI-driven revenue intelligence tools.
Sphingotec GmbH, €5M in a Series C
Location: Hennigsdorf, Germany
Founded in: 2002
Total funding received: €6.5M
Recent funding resources: Think. Health Ventures, Brandenburg Kapital, HBM Healthcare Investments, NRW.Bank, Wellington Partners
German diagnostics company Sphingotec GmbH, which develops biomarkers for diagnosing and monitoring acute medical conditions, has raised €5 million in a Series C round to expand into new markets, including the US, through strategic collaborations.
Userled, €4.75M in a pre-seed round
Location: London, the UK
Founded in: 2023
Total funding received: €4.75M
Recent funding resources: LocalGlobe, Dig Ventures, Tim Sadler, Stephen Whitworth, Jonathan Widawski, Remy Lazarovici
London-based startup Userled, which helps B2B companies convert key accounts through 1:1 personalization at scale, has secured €4.75 million in a pre-seed round to grow its workforce, enhance platform performance, expand channel distribution, and improve AI-driven content generation in martech.
NXRT, €4.5M in a Series A
Location: Vienna, Austria
Founded in: 2017
Total funding received: €8.8M
Recent funding resources: Mangrove Capital Partners, ArborEleven Ventures, eQventure, CADFEM International GmbH
Vienna-based startup NXRT, known for its real-time simulation technology tailored for spatial computing in sales, training, and engineering, has recently secured €4.5 million in Series A funding. With this investment, NXRT plans to expand into new EU markets, diversify its product offerings, and scale up its workforce.
DcubeD, €4.4M in a Series A
Location: Germering, Germany
Founded in: 2019
Total funding received: €4.4M
Recent funding resources: Expansion, BayBG, HTGF, Aurelia Foundry, Ventis, Rymdkapital, Decisive Point Europe
German NewSpace supplier startup Dcubed, which offers off-the-shelf products designed to expedite, simplify, and reduce costs for space missions, has secured €4.4 million in a Series A funding round. With this fresh capital, Dcubed plans to increase the production of origami foldable satellite solar arrays and quadruple its actuator output by 2024.
FLOWIT, €4.2M in a seed round
Location: Zurich, Switzerland
Founded in: 2020
Total funding received: €4.2M
Recent funding resources: Vi Partners, Alstin Capital, Daniel Gutenberg
Zurich-based coaching platform FLOWIT, which provides real-time feedback and development tools for front-line and non-desk employees, has raised €4.2 million in seed funding. The company plans to use this capital to scale operations, expand internationally, and grow its team to 50 employees.
Clearly.Earth, €3.9M in a seed round
Location: London, the UK
Founded in: 2021
Total funding received: €3.9M
Recent funding resources: Pace Ventures, Nine Realms, Mobilion Ventures, Next Gear, M1720, Lord Nash, Margaux Primat
London-based climate intelligence platform Clearly.Earth, which offers fleet operators crucial trip-level emission and energy insights, has raised €3.9 million in a seed funding round. This investment will be used to improve Clearly's existing products, advance its AI capabilities, and grow its team.
Lovetovisit.com, €3.8M in a seed round
Location: London, the UK
Founded in: 2020
Total funding received: €3.8M
Recent funding resources: Venrex, Redrice Ventures, Active Partners, Velocity Capital
London-based digital travel platform Lovetovisit.com has secured €3.8 million in a seed round. The funding will be used to scale its UK operations, double its growth and inventory over the next three years, and enhance its AI capabilities to improve the user experience.
Optiml, €3.6M in a pre-seed round
Location: Zurich, Switzerland
Founded in: 2022
Total funding received: €6M
Recent funding resources: BitStone Capital, KOMPAS VC, Innovation Endeavors, Planet A Ventures
Zurich-based real estate investment platform Optiml, which focuses on Net Zero real estate investment and renovation planning, has secured €3.6 million in a pre-seed extension funding round led by BitStone Capital. Optiml plans to use this investment to accelerate its efforts in providing solutions for asset managers, investors, and consultancies across the DACH region, the UK, and other international markets.
Clare&me, €3.7M in a seed round
Location: Berlin, Germany
Founded in: 2021
Total funding received: €4.8M
Recent funding resources: YZR Capital, Kodori Ventures, Material Ventures, Antler, IBB, European Union
Berlin-based AI therapist Clare&Me, which offers a safe space for users to discuss their problems and enhance their mental well-being, has secured €3.7 million in a funding round led by YZR Capital. The investment will enable Clare&Me to form partnerships with clinics and accelerate its technology development.
Gradient Labs, €3.3M in a seed round
Location: London, the UK
Founded in: 2023
Total funding received: €3.3M
Recent funding resources: LocalGlobe, Gloria Baeuerlein, Tom Blomfield, Jonas Templestein, Gideon Valkin, Mike Hudack, Akhil Paul, Declan Kelly, Thilo Konzok, Tristan Thomas
London-based AI customer service startup Gradient Labs, which addresses customer queries, has raised €3.3 million in a seed funding round led by LocalGlobe. The new funding will allow Gradient Labs to expand its team to 15 members, focusing on AI engineering and applied science talent, in preparation for its Series A round.
CrunchDAO, €3.1M in a seed round
Location: Paris, France
Founded in: 2021
Total funding received: €4.9M
Recent funding resources: Elixir Capital, Fabric Ventures, Factor Capital, Multicoin Capital
Paris-based cryptocurrency platform CrunchDAO, known for its development of alpha-generating insights through distributed ML competitions called "Crunches," has secured €3.1 million in a seed round. The funding was led by Multicoin Capital.
YGO Trips, €2.5M in a seed round
Location: Berlin, Germany
Founded in: 2022
Total funding received: €2.5M
Recent funding resources: GetAway Group, Patrick Andrae, Wolfgang Heigl, Felix Jahn, Ralf Usbeck, LUCY CAPITAL's Kiana Mardi, Expedite Ventures
Berlin-based travel company YGO Trips, which enables travelers to book flights, hotels, activities, and events, has secured €2.5 million in a seed round. The funding will support the significant advancements in AI development that YGO Trips has achieved since its inception.
VoiceLine, €2.4M in a seed round
Location: Munich, Germany
Founded in: 2020
Total funding received: €2.4M
Recent funding resources: Venture Stars, SCALEHOUSE Capital, Archimedes New Ventures, Cavalry Ventures, Egora Holding, and business angels
Munich-based startup VoiceLine, which boosts field sales efficiency through voice and AI technology, has secured €2.4 million in seed funding. This new capital will enable VoiceLine to enhance user experience, explore additional use cases, and expand its global presence in Voice AI for field teams.
PHINXT Robotics, €2.4M in a seed round
Location: London, the UK
Founded in: 2022
Total funding received: €3.1M
Recent funding resources: Sure Valley Ventures, Ada Ventures, Atlas Ventures, HEARTFELT_
London-based AI robotics startup PHINXT Robotics, which enables autonomous mobile robotics automation in warehouses of any size, has raised €2.3 million in a funding round led by Sure Valley Ventures. The capital will be used to expand the startup's workforce, particularly in the engineering and sales teams, and to facilitate its entry into European markets.
Adamo Foods, €2.3M in a seed round
Location: London, the UK
Founded in: 2020
Total funding received: €4.5M
Recent funding resources: UK Innovation & Science Seed Fund, Joyful VC, Beeches Group, SFC Capital, Katapult, Shake Climate Change, Rothamsted Research, Innovate UK
London-based foodtech startup Adamo Foods, which specializes in sustainable alternatives to whole-cut meats, has secured €2.3 million in a seed funding round. This investment will allow Adamo Foods to expand its team with senior food industry experts, scale up production to pilot levels, and develop new products, including a chicken breast alternative.
DC Connected Car, €2.1M in a seed round
Location: Nersingen, Germany
Founded in: 2020
Total funding received: €3.2M
Recent funding resources: VENPACE, Borusan Ventures, Atlas Ventures, Network.VC, APX, Bloomhaus Ventures
German virtual technician platform DC Connected Car, which focuses on vehicle maintenance through digital innovation and remote diagnostics, has raised €2.1 million in a seed funding round. The investment will support the company's international expansion, enhance the development of diagnostic tools for roadside assistance, warranty, and repairs, and facilitate the integration of expertise across various automotive sectors to improve overall efficiency.
SportAI, €1.6M in a seed round
Location: Oslo, Norway
Founded in:
Total funding received: €M
Recent funding resources: Skyfall Ventures, Dekel Valtzer, Magnus Carlsen
Oslo-based sports tech startup SportAI, which provides a platform for instant, precise, and scalable sports technique analysis using AI, has raised €1.6 million in seed funding. The investment will help SportAI expand its sports analytics reach, grow its team with technical, commercial, and sports experts, and secure its first commercial contract.
Tiimo, €1.45M in a seed round
Location: Copenhagen, Denmark
Founded in: 2015
Total funding received: €4.9M
Recent funding resources: Crowberry Capital, People Ventures, Inner Foundations, Goodwater Capital, Divergent Investments
Danish mental healthcare startup Tiimo has raised €1.45 million in its latest funding round. The new funds will help Tiimo expand its user base, scale in current markets, and introduce new features like the Tiimo Learn subscription. Additionally, Tiimo plans to launch a web-based planner in September 2024 to complement its app for laptop and desktop users.
MixRift, €1.4M in pre-seed round
Location: Dublin, Ireland
Founded in: 2024
Total funding received: €1.4M
Recent funding resources: Outsized Ventures, Underline Ventures, SOSV, Andrei Bogdan Boghiu, Vlad Andries
Dublin-based gaming startup MixRift has raised €1.4 million in a pre-seed funding round. The company plans to use the funds to continue development and release additional titles in 2024, with a focus on refining game mechanics to better understand audience preferences.
DemoSquare, €1.28M in a pre-seed round
Location: Lausanne, Switzerland
Founded in: 2022
Total funding received: €1.4M
Recent funding resources: QBIT Capital, High-Tech Gründerfonds (HTGF), Venture Kick, FIT, EPFL
Swiss startup DemoSquare, which develops AI-powered global political monitoring solutions, has secured €1.28 million in a pre-seed funding round. The funds will be used to expand into European markets, with a focus on collaborating with influential EU institutions.
SimpleX Chat, €1.1M in a pre-seed round
Location: London, the UK
Founded in: 2021
Total funding received: €1.5M
Recent funding resources: Jack Dorsey, Asymmetric Capital Partners
London-based startup SimpleX Chat, which develops a messaging platform without user IDs, has raised €1.1 million in a pre-seed round. The capital will be used to enhance reliability, privacy, security, and improve user experience and design.
Timeseer.AI, undisclosed amount
Location: Antwerp, Belgium
Founded in: 2020
Total funding received: €M
Recent funding resources: OTB Ventures, Crane Venture Partners, Smartfin Capital, Fortino Capital, LRM, Innovation Fund
Belgium-based data reliability and observability platform Timeseer.AI, which addresses the challenges of OT/IoT data quality, has received investment from OTB Ventures. The terms of the deal remain undisclosed. This new funding will support Timeseer.AI in further developing and advancing its product.
