In the CEE region, the preceding month witnessed several successful funding rounds worth discovering. Are you curious about what June had to offer? Let’s dive into the article and find out about recent achievements that emerged in the region!
Sunly
Location: Tallinn, Estonia
Launch date: 2019
Funding Round: € 30M
Funding Source: European Bank for Reconstruction and Development
Total funding received: € 230M
Sunly is developing renewable energy power plants and has secured 30 million euros from EBRD for green energy development in the Baltic States and Poland. With a total injected capital of around 230 million euros raised since 2022 and its recent round closed in June, Sunly is now planning to expand its renewable energy capacity in the Baltics and Poland.
IP Fabric
Location: Prague, Czech Republic
Launch date: 2015
Funding Round: Series B, € 23M
Funding Source: One Peak Partners, Presto Ventures, Senovo
Total funding received: € 27M
IP Fabrics develops an Automated Network Assurance Platform, ensuring network reliability and minimizing the risk of failures or outages. The company's client base includes globally renowned customers such as Airbus, Air France, Major League Baseball, Red Hat, HCL Technologies, Avast, and Blackberry. The startup is backed by One Peak Partners, Presto Ventures, and Senovo. The funding will be used for the company's further development and the enhancement of its market position.
Woltair
Location: Prague, Czech Republic
Launch date: 2018
Funding Round: Series A, € 20.5M
Funding Source: ArcTern Ventures, Fifth Wall, Inven Capital, KAYA, The Westly Group
Total funding received: € 38.8 M
Woltair, a renewable energy company, has successfully concluded its series A funding round, raising €20.5 million. Woltair is working on expediting the adoption of heat pumps and renewable energy in the residential sector through a SaaS digital platform to increase technician productivity. Woltair also specializes in the sale, installation, and service of heat and power sources such as heat pumps and photovoltaics across Europe. The investment will now enable the startup to expand into Germany. Woltair is backed by ArcTern Ventures, Fifth Wall, Inven Capital, KAYA, and The Westly Group.
Resistant AI
Location: Prague, Czech Republic
Launch date: 2019
Funding Round: Series A, € 10M
Funding Source: Notion Capital
Total funding received: € 27.8M
Resistant AI utilizes artificial intelligence (AI) and machine learning (ML) to develop solutions that safeguard AI systems against targeted manipulation, adversarial machine learning attacks, and advanced fraud. Their focus is on protecting financial services from crime. Resistant AI has successfully deployed its solutions across companies such as Dun & Bradstreet, Payoneer, Habito, Planet42, and ComplyAdvantage. Backed by Notion Capital, the startup has secured a total of €27.8 million in its Series A round.
Contec
Location: Warsaw, Poland
Launch date: 2015
Funding Round: additional € 5M, complementing € 10M round from March 2023
Funding Source: VINCI, Blachy Pruszyński, and Warsaw Equity Group
Total funding received: €15 M
Contec is an environmental services company that has developed innovative technology for obtaining rubber and plastic through a circular process. The company focuses on recovering carbon black, oil, and steel from waste car tires, resulting in low-carbon footprint products. Their technology utilizes a mixture of liquid salts to heat up the pyrolysis reactor. With a recent injection of €5 million in additional investment from Blachy Pruszyński, the company's total capital raised now amounts to €15 million. This funding complements the €10 million investment previously secured from Warsaw Equity Group and VINCI in March 2023. The investment will be used to triple Contec's current facility capacity and position the company for the construction of multiple new commercial plants across Europe.
Sensoneo
Location: Bratislava, Slovakia
Launch date: 2019
Funding Round: Series A, € 6.2M
Funding Source: Taiwania Capital Management Corporation, Venture to Future Fund, EIC Fund and Crowdberry
Total funding received: €12.5M
Sensoneo offers a SaaS smart waste management solution that enables efficient management of waste lifecycles, promotes traceability, and drives the transition to a circular economy. Operating in more than 80 countries, the Slovakia-based company is now planning the smart waste installation in Madrid. Sensoneo received funding from Taiwania Capital, Venture to Future Fund, EIC Fund, and Crowdberry.
eAgronom
Location: Tartu, Estonia
Launch date: 2016
Funding Round: € 5M
Funding Source: ICOS Capital Management, SmartCap, Soulmates Ventures
Total funding received: €14. 6M
eAgronom is an agritech startup that supports farmers in adopting sustainable farming practices through monitoring and AI consulting platform, enabling eAgronom to guide farmers in implementing carbon-capturing methods and offering transparency for carbon credit buyers. Backed by ICOS Capital Management, SmartCap, and Soulmates Ventures, the company plans to utilize the funds raised in its recent round to expand its solution across Europe and Africa. Furthermore, eAgronom has received a dedicated grant from Enterprise Estonia to support its product development and innovation efforts.
SuperScale
Location: Bratislava, Slovakia
Launch date: 2015
Funding Round: Series A, € 5M
Funding Source: Across Private Investments, Venture to Future Fund, Zero One Hundred
Total funding received: € 5M
SuperScale is a revenue growth platform dedicated to mobile game developers and publishers. Their SaaS analytics platform empowers clients to identify strategies that increase revenue, as well as publishing and game management services to help boost game earnings. With a track record of assisting over 150 mobile games and working with developers like EA, Lego, Big Fish Games, and BoomBit, the company raised € 5M from VCs such as Across Private Investments, Venture to Future Fund and Zero One Hundred.
Vok Bikes
Location: Tallinn, Estonia
Launch date: 2019
Funding Round: Seed, € 3.8M
Funding Source: Metaplanet Holdings, SmartCap, Specialist VC, Sunly and Angel Investors
Total funding received: € 6.4M
Vok Bikes is a Tallin-based startup, developing electric cargo bikes with a payload of up to 200kg. The company’s bikes are rideable 24/7 thanks to its swappable batteries and a long maintenance cycle. The funding raised in the recent round will be utilized to deploy an additional 1000 cargo bikes across Europe within the next year. Vox Bike is backed by Across Private Investments, Venture to Future Fund and Zero One Hundred, as well as Angel Investors.
Greenstic
Location: Baj, Hungary
Launch date: 2019
Funding Round: Seed, € 1.4M
Funding Source: Hiventures
Total funding received: € 1.4M
Greenstic distributes and manufactures eco-friendly restaurant packaging materials, containers, and cutlery. Operating in Hungary, Romania, and Slovakia, Greenstic aims to provide sustainable packaging solutions to the food service industry. The startup is supported by HiVentures and is planning to use the secured funding for the expansion of its manufacturing, logistics, product range, and customer base in Hungary, Slovakia, and Romania.
Sources: Vestbee VC & startup community, startup press releases, web & social media monitoring, Crunchbase
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