Today, we are going deep into interesting CEE funding rounds that took place in February, the second month of Q1 2022. This time, the Cyber-Security, AI, E-commerce, Healthcare and SaaS attracted investor's interests.
Now, let’s discover TOP February startup funding rounds in CEE!
Binalyze
Location: Tallinn, Estonia
Launch date: 2015
Funding Round: Seed €9.1M
Funding Source: OpenOcean, Earlybird Venture Capital
Total funding received: €10.7M
Founded in 2018, Estonian Binalyze is a cyber security startup working on an enterprise forensics platform that enables enterprises to respond effectively to cyber threats and therefore minimise damage and cost to the business. The startup has recently secured a seed round in the amount of €9.1M led by OpenOcean and accompanied by Earlybird Venture Capital. Secured financing will be allocated to extending cloud-native capabilities to enhance coverage in cloud and container environments and accelerate expansion in the US, Europe, and other key global markets.
Mediately
Location: Ljubljana, Slovenia
Launch date: 2011
Funding Round: Series A €7.2M
Funding Source: LAUNCHub Ventures, Piton Capital, Silicon Gardens, VentureFriends
Total funding received: €7.5M
Slovenia-based Mediately, founded in 2011, is a mobile and web app that makes drug information accessible to doctors and therefore helps them with making better decisions by organising and simplifying complex medical content. On the other hand, the app allows pharmaceutical companies to provide doctors with information about new drugs, therapies and clinical research. The startup has recently secured a series A round in the amount of €7.2M from LAUNCHub Ventures, Piton Capital, Silicon Gardens, and VentureFriends, while raised funds will be used for further expanding the activities on European markets.
Productboard
Location: Czech/USA
Launch date: 2014
Funding Round: Series D €114M
Funding Source: Tiger Global Management, Sequoia Capital, Kleiner Perkins, Index Ventures, Dragoneer Investment Group, Credo Ventures, Bessemer Venture Partners
Total funding received: €238M
Czech Productboard, founded in 2014, is a customer-centric product management platform for business teams helping them to get the right products to market faster and more efficiently. The startup has recently been supported by top-tier investors like Tiger Global Management, Sequoia Capital, Kleiner Perkins, Index Ventures, Dragoneer Investment Group, Credo Ventures, and Bessemer Venture Partners with a Series D round funding of €114M at €1.725B valuation. Secured funding gave it a unicorn status, while funds itself will be used for scaling products offerings and fueling the hiring process.
eAgronom
Location: Tallinn, Estonia
Launch date: 2013
Funding Round: Series A €6.4M
Funding Source: Iron Wolf Capital, Specialist VC, Trind Ventures, Yolo Investments, ZGI Capital
Total funding received: €9.5M
Estonia-based eAgronom, one of the biggest agritech startups in Baltics, is providing farm management software and AI-backed consulting services for farmers to allow them to achieve higher yields and income. The startup recently secured series A round of €6.4M from Iron Wolf Capital, Specialist VC, Trind Ventures, Yolo Investments, and ZGI Capital with a plans to use this funding to pivot the majority of its business to its farming-based carbon credits platform, while also continuing to expand activities among new markets.
Linker
Location: Warsaw, Poland
Launch date: 2017
Funding Round: Seed €3.3M
Funding Source: ff Venture Capital, Kogito Ventures, Market One Capital, Street Smart capital
Total funding received: €3.3M
Linker is a Polish cloud-based fulfilment platform that allows shipping and automation of comprehensive order handling processes. Linker helps online brands to scale their operations as fast as online sales and allows businesses of any size to find flexible solutions for order fulfilment. Recently secured funding in the amount of €15M during seed round from ff Venture Capital, Kogito Ventures, Market One Capital, and Street Smart capital, will be allocated to further platform development.
Ogre AI
Location: Bucharest, Romania
Launch date: 2021
Funding Round: Seed - €2M
Funding Source: Early Game Ventures, MMC Ventures
Total funding received: €2M
Romania-based Ogre AI is an AI-powered platform designed for energy management. It helps partners to predict production, consumption, network & technical losses and different kinds of anomalies. They are also on the road to building an innovative price forecasting system that supports grid management decisions as well as trading tips. The startup has been recently supported by Early Game Ventures, and MMC Ventures, while secured funds (in the amount of €2M) will be allocated to scaling products.
EyeVi Technologies
Location: Tallinn, Estonia
Launch date: 2020
Funding Round: Seed €1.8M
Funding Source: Decacorn Capital, ff Venture Capital, Iron Wolf Capital, RKKVC, Spring Capital, Superangel
Total funding received: €1.8M
Founded in 2020, Estonian EyeVi, is an AI-powered platform for geospatial data production that offers an on-demand mapping technology for capturing and processing high accuracy geodata and therefore helps to optimise costs. Recently secured funds during a seed round of €1.8M led by ff Venture Capital and joined by Decacorn Capital, Iron Wolf Capital, RKKVC, Spring Capital, and Superangel will be used for improving processes and scaling up operations.
CloudCart
Location: Sofia, Bulgaria
Launch date: 2016
Funding Round: Funding round amount undisclosed
Funding Source: Elevator Ventures, New Vision 3 Fund
Total funding received: Undisclosed
Bulgarian CloudCart, founded in 2016, is an all-in-one SaaS e-commerce platform that makes it easy to create a successful online store. What’s more, open SaaS gives users complete freedom over creating the online store and allows them to connect it with any 3rd-party software. CloudCart has recently secured an undisclosed (in terms of amount) funding round from Elevator Ventures with the participation of its current investor - New Vision 3 Fund. Raised funds will support further business growth and the process of entering all CEE markets.
CybExer Technologies
Location: Tallinn, Estonia
Launch date: 2016
Funding Round: Funding round €5M
Funding Source: First Fellow Partners, Karma Ventures, Specialist VC
Total funding received: €5M
Estonian CybExer, is a NATO-awarded cyber range company developing and commercializing various products like next-generation, state-of-the-art, cyber ranges. In just a few words CybExer can be described as a platform for the development, delivery and use of interactive simulation environments. Among the startups’ customers are international defence organisations, financial institutions, and critical infrastructure enterprises. The company has recently secured €5M in funding from First Fellow Partners, Karma Ventures, and Specialist VC, that will be allocated to meet market demand and expand its global operations
Upacjenta
Location: Cracow, Poland
Launch date: 2017
Funding Round: Seed €4.4M
Funding Source: 10X Founders, Inovo Venture Partners, Mam Startup, YZR Venture Capital
Total funding received: €4.4M
Poland-based Upacjenta, founded in 2017, is a healthcare platform with a goal to facilitate access to blood tests and COVID tests in Europe. The startup connects patients with medical specialists, allowing them to order and take a blood test at home. Upacjenta has recently closed the seed round in the amount of €4.4M from 10X Founders, Inovo Venture Partners, Mam Startup, and YZR Venture Capital. Secured funds will be used for supporting expansion on European markets.
Sources: Vestbee VC & startup community, startup press releases, web & social media monitoring, Crunchbase
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TOP CEE Funding Rounds Closed In November 2021 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)
