July, the first month of Q3 2021, as it usually happens during the holiday period, was characterized by much lower activity within the VC ecosystem in CEE. The disclosed funding in CEE exceeded €165M, mainly thanks to Softbank's investment into Polish popular e-commerce company - Eobuwie, whose funding round reached nearly €111M. Among the top areas that attracted investors’ attention were e-commerce, fashion, AI, media and entertainment, developer tools and advertising.
Now, let’s have a look into TOP July startup funding rounds in CEE!
eobuwie
Location: Zielona Gora, Poland
Launch date: 1998
Funding Round: Venture Round €110.9M
Funding Source: SoftBank Vision Fund
Total funding received: €110.9M
Poland-based, eobuwie operates in the online footwear and accessories market in Central and Eastern Europe. The company creates trends in the industry and implements ambitious projects, among others introducing a breakthrough service esize.me, which, based on a 3D scan, recommends properly fitted shoes. Moreover, it created a concept for the eobuwie.pl stationary store, where customers can try on shoes by choosing them using in-store tablets. Eobuwie has recently secured €110.9M from SoftBank Vision Fund in the form of convertible bonds that will be converted into shares before the company IPO.
Tenderly
Location: Belgrade, Serbia
Launch date: 2018
Funding Round: Series A €12.8M
Funding Source: Accel, Point Nine, Version One Ventures
Total funding received: €12M and undisclosed amount of seed funding
Belgrade-based Tenderly, founded in 2018, is a crypto startup working on Ethereum developer platform that allows its users to perform real-time monitoring, alerting, debugging, and simulating of Smart Contracts. Tenderly has recently secured Series A round in the amount of €12.8M led by Accel and accompanied by Point Nine and Version One Ventures. The funds will be allocated to expanding the company’s worldwide reach and hiring engineers and businesspeople in new locations.
Single.Earth
Location: Tallinn, Estonia
Launch date: 2019
Funding Round: Seed €6.6M
Funding Source: EQT Ventures, Icebreaker.vc
Total funding received: €6.6M
Estonian Single.Earth is a fintech startup tokenizing the world's nature. The platform enables investing in forests, swamps and other natural resources to generate profit which furthermore compensate the carbon footprint and save the natural world. The startup has recently secured a seed round in the amount of €6.6M and among participating investors were EQT Ventures and Icebreaker.vc. Raised funds will be allocated to further platform development.
Nethone
Location: Warsaw, Poland
Launch date: 2016
Funding Round: Series A €5.6M
Funding Source: ARIA Fund, Atmos Ventures, Firlej Kastory, Innovation Nest, Plug and Play Tech Center
Total funding received: €8.9M
Polish Nethone, founded in 2016, is an e-commerce fraud startup that provides fraud protection technology for travel suppliers, online retailers, and financial service companies. The platform allows its users to track suspicious activity and provides them with comprehensive consumer recommendations and exhaustive profiling. Nethone has recently secured €5.6M in a Series A round from ARIA Fund, Atmos Ventures, Firlej Kastory, Innovation Nest, and Plug and Play Tech Center. Secured funds will help a startup with accelerating its go-to-market efforts for its passive behavioral biometrics.
Outvio
Location: Tallinn, Estonia
Launch date: 2018
Funding Round: Seed €2.5M
Funding Source: Change Ventures, Fresco Capital, Lemonade Stand, TMT Investments
Total funding received: €2.5M
Founded in 2018, Estonian Outvio, is an e-commerce fulfillment platform that allows companies to manage their business like e-commerce giants - painlessly and worldwide. Among platform’s features are shipping automation, self-service returns, and branded tracking & customer communication. Recently secured funds during a seed round in the amount of €2.5M led by Change Ventures and accompanied by Fresco Capital, Lemonade Stand, TMT Investments and various business angels, will be allocated to product development and further expansion.
InkSearch
Location: Warsaw, Poland
Launch date: 2018
Funding Round: Seed €460K
Funding Source: Czysta3.VC, KnowledgeHub
Total funding received: €680K
Polish InkSearch, founded in 2018, is a platform connecting tattoo artists with clients giving the quick possibility to book appointments online. Currently, the startup is going beyond this framework and is working on expanding the company's operations to new markets and introducing advanced AI technologies and a CRM system dedicated to managing a tattoo studio. InkSearch activities have recently been supported by Czysta3.VC and KnowledgeHub that participated in the seed round in the amount of €460K. The secured funds will be allocated for expansion to the other foreign markets.
Archbee
Location: Bucharest, Romania
Launch date: 2018
Funding Round: Seed €840K
Funding Source: Inovo Venture Partners, Y Combinator
Total funding received: €4M
Bucharest-based Archbee is a knowledge base platform for technical teams. It provides a set of bespoke tools for software developers, enabling everyone in the business to organize key information and intelligence and share it with colleagues and customers, both present and future. The recently secured funding from a seed round in the amount of €840K led by Inovo Venture Partners and accompanied by well recognized YCombinator will be allocated to boosting sales and marketing activities.
Kogena
Location: Wroclaw, Poland
Launch date: 2018
Funding Round: Seed €1M
Funding Source: Kogito Ventures, SATUS Starter
Total funding received: €3.5M
Wroclaw-based Kogena, founded in 2018, is a startup developing the first vendor-independent AI-powered platform for monitoring collaborative robots (so called cobots) that can work with people directly, in a shared space, or in close proximity. Cobots enable the automation of processes that were previously performed manually by employees, which increases the efficiency and quality of production. Kogena has recently closed the seed round in the amount of €1M from Kogito Ventures and Satus Starter, secured funds will be used for further platform development and expansion in Europe, North America, and Asia.
Postoplan.App
Location: Talinn, Estonia
Launch date: 2019
Funding Round: Seed €1.25M
Funding Source: TMT Investments, YellowRockets.vc
Total funding received: €1.85M
Postoplan.App is an Estonian startup working on a smart automatic social network marketing platform that allows users to create, schedule, and promote content. According to the startup, it reduces time spent by managers on social media, increases the number of clients, and improves the social media reach and grows the target audience. The startup has recently secured a seed round in the amount of €1.25M, which will be used for further solution development and boosting the expansion on the US market.
LiveKid
Location: Cracow, Poland
Launch date: 2017
Funding Round: Seed €1.9M
Funding Source: JR Holding, Nunatak Capital, Imperio
Total funding received: €1.9M
Founded in 2017, Polish startup LiveKid created an ecosystem consisting of parents, kindergartens, and nurseries. The idea of the virtual platform is to facilitate childcare in kindergartens and nurseries and the management of educational institutions to thousands of directors. Recently, the startup has secured a seed round in the amount of €1.9M from JR Holding, Nunatak Capital, and Imperio. Acquired financing will boost dynamic expansion in Spain, Switzerland, Germany, and other European markets.
Sources: Vestbee VC & startup community, startup press releases, web & social media monitoring, Crunchbase
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