funding rounds by vestbee
12 April 2022·6 min read

Konrad Koncerewicz

Head of VC & Startups, Vestbee

TOP CEE Funding Rounds Closed In March 2022

Today, we are going deep into interesting CEE funding rounds that took place in March, the last month of Q1 2022. This time, the SaaS, AI, and E-commerce attracted investor's interests. 

Let’s discover TOP March startup funding rounds in CEE!

Tenderly

Location: Belgrade, Serbia
Launch date: 2018
Funding Round: Series B €36.8M
Funding Source: OpenOcean, Earlybird Venture Capital
Total funding received: €53.3M

Founded in 2018, Serbian Tenderly is a blockchain startup working on a platform that simplifies building innovative blockchain products for web3 developers. The company provides the right tools, services, and infrastructure to help developers build groundbreaking products, with less friction. The startup has recently secured a series B round in the amount of €36.8M led by Spark Capital and accompanied by Abstract Ventures, Accel, Coinbase Ventures, Daedalus Partners, Point Nine, and various business angels. Secured financing will be allocated to building product offerings, increasing sales and attracting new customers and partners.

Payhawk

Location: Bulgaria/UK
Launch date: 2018
Funding Round: Series B extension €89M
Funding Source: Lightspeed Venture Partners, QED Investors, Sprints Capital, Jigsaw VC, HubSpot Ventures, Greenoaks Capital, Endeavor Catalyst, Earlybird Venture Capital
Total funding received: €220M

Bulgarian Payhawk, founded in 2018, is a fintech startup that provides end-to-end management of company spending. Its goal is to enable global enterprises and fast-growing technology companies to improve their efficiency in finance management by offering features such as expense management, corporate cards, bill payments and automating accounting processes. This unicorn has recently secured a €89M series B round extension from Lightspeed Venture Partners, QED Investors, Sprints Capital, Jigsaw VC, HubSpot Ventures, Greenoaks Capital, Endeavor Catalyst, and Earlybird Venture Capital.

Nethansa

Location: Poland/Germany
Launch date: 2016
Funding Round: Series A €4M
Funding Source: Warsaw Equity Group, Movens VC
Total funding received: €8.3M

Polish-German Nethansa, is a SaaS platform that automates the sales processes for eCommerce companies. The startup is on a mission to boost the profits of companies that sell through Europe's largest marketplaces and help them get the most out of their sales. The company has recently secured €4M during a Series A round led by Warsaw Equity Group, and Movens VC. Secured funding that will be allocated to supporting international expansion (Danish and Swedish markets) and product development. 

LIV

Location: Prague, Czech Republic
Launch date: 2016
Funding Round: Series A  €7.8M
Funding Source: Amazon Alexa Fund, BITKRAFT Ventures, Credo Ventures, Olive Tree Capital, Samsung NEXT, Sony Innovation Fund
Total funding received: €11.2M

Prague-based LIV, founded in 2016, is a platform that allows content creators to share their experiences, record and livestream inside their favorite games and apps. The startup has recently secured a series A round in the amount of €7.8M led by Bitkraft Ventures with participation from Sony Innovation Fund, Amazon Alexa Fund, Credo Ventures, Samsung Next, and Olive Tree Capital. Raised funds will be used to grow a team and further develop activities. 

Wert

Location: Tallinn, Estonia
Launch date: 2020
Funding Round: Seed  €4.6M
Funding Source: Digital Horizon, Element Ventures, Jdac, Tagus Capital, Tezos Foundation, VR Ventures
Total funding received: €4.6M

Estonian Wert, founded in 2020, is a payment platform that introduces direct NFT purchases with credit cards, using embedded finance technology to simplify the purchasing process of various DeFi products. The startup has recently been supported by Digital Horizon, Element Ventures, Jdac, Tagus Capital, Tezos Foundation, and VR Ventures and seed round funding reached €4.6M. Secured funding will be used for further development of innovative financial infrastructure and activities expansion into new markets. 

Secfense

Location: Cracow, Poland
Launch date: 2018
Funding Round: Funding round  €1.8M
Funding Source: Presto Ventures, RKKVC, Tera Ventures
Total funding received: €9.5M

Poland-based Secfense is a startup that aims to end password-related attacks. The RegTech company helps organizations move to a passwordless future by introducing strong authentication systems. Its platform employed between users and applications learns traffic patterns related to authentication, then enforces multi-factor login or other sensitive actions without interfering with existing code. The startup recently secured a €1.8M round from Presto Ventures, RKKVC, Tera Ventures with plans to enter new markets.

Alpha AR

Location: Tallinn, Estonia
Launch date: 2018
Funding Round: Seed €720K
Funding Source: Curiosity VC, ZAKA Startups
Total funding received: €860K

Alpha AR is an Estonian AI-powered automatic 3D content creation platform. The startup’s technology enables users to turn any 2D image into a 3D model automatically, without requiring any special skills or experience in 3D modeling and therefore makes 3D model creation simple and scalable for augmented reality, virtual try-on, virtual reality, NFTs, games, marketing and much more. Recently secured funding in the amount of €720K during seed round from Curiosity VC, and ZAKA Startups will be allocated to further platform development. 

Hyperhuman

Location: Bucharest, Romania
Launch date: 2020
Funding Round: Seed €550K
Funding Source: Early Game Ventures, SeedBlink, Sparking Capital
Total funding received: €1M

Romania-based Hyperhuman is an omnichannel video content platform that allows digital and traditional health & fitness businesses to create and publish on-demand video content on any channel or format fast and affordable. The startup has been recently supported by Early Game Ventures, SeedBlink, and Sparking Capital with a Seed round of €550K, while secured funds will be allocated to speeding up the growth and expanding the product offering. 

GIGLIKE

Location: Warsaw, Poland
Launch date: 2020
Funding Round: Pre-seed €250K
Funding Source: LT Capital
Total funding received: €250K

Founded in 2020, Polish GIGLIKE, is a business platform that supports companies in effective cooperation with independent talents (in the B2B model) in the changing labor market. GIGLIKE offers in one place benefits, services and business tools exclusively for GIGers (independent talent, a flexible employee or a freelancer) in a subscription model. Recently secured funds during a pre-seed round of €250k from LT Capital will be used for further development of the platform. 

Naco

Location: Riga, Latvia
Launch date: 2017
Funding Round: Seed €1.5M
Funding Source: Buildit Accelerator, The Untitled Ventures 
Total funding received: €1.5M

Founded in 2020, Latvia-based startup Naco is on a mission to empower the movement toward hassle-free hydrogen production by providing solutions like nano-coating, as well as manufacturing coated components for electrolyzers and fuel cells. The company claims its solutions minimise the use of materials which decreases the cost of an electrolyzer or fuel cell stack. Naco has recently closed the seed round in the amount of €1.5M from The Untitled Ventures and Latvian Buildit Accelerator, while secured funds will be used for building a manufacturing station to provide its clients with ready-to-use coated parts.

Sources: Vestbee VC & startup community, startup press releases, web & social media monitoring, Crunchbase

Related Posts:

TOP CEE Funding Rounds Closed In February 2022 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)

TOP CEE Funding Rounds Closed In January 2022 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)

TOP CEE Funding Rounds Closed In December 2021 (by Konrad Koncerewicz, Head of VC & Startups, Vestbee)

 

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