Every month, Vestbee compiles a list of the most significant financial rounds closed in Central and Eastern Europe and the broader European region, providing details on each deal. Below is a list of startups from CEE that received funds during March.
Mews, €69.3M
Location: Prague, Czech Republic
Founded in: 2012
Total funding received: €478.1M
Recent funding sources: Tiger Global Management, Kinnevik, Goldman Sachs Alternatives, Battery Ventures
Czech-founded unicorn Mews, a hospitality tech company that helps hotels manage operations and enhance guest experiences, has secured €69.3 million in funding. The fresh capital will accelerate growth in the US and DACH regions, support strategic acquisitions, and boost R&D efforts.
BlackWall, €45M in Series B
Location: Tallinn, Estonia
Founded in: 2019
Total funding received: €57.5M
Recent funding sources: Tera Ventures, Red Dawn Ventures, MMC Ventures, Expeditions Fund, Dawn Capital
Tallinn-based BlackWall is a cybersecurity company offering bot mitigation and web security solutions for hosting and managed services. In March, the firm raised €45 million in a Series B funding round to expand globally, grow its team, and strengthen partnerships.
Flowpay, €30M in debt financing
Location: Prague, Czech Republic
Founded in: 2021
Total funding received: €33.1M
Recent funding sources: Fasanara Capital
Prague-based fintech startup Flowpay, which leverages AI to provide lending, embedded finance, and risk assessment for SMEs and lenders, has raised €30 million in debt financing. This funding is intended to accelerate its expansion beyond the Czech Republic, Slovakia, and the Netherlands and to scale its embedded lending solutions.
Jutro Medical, €12M in Series A
Location: Warsaw, Poland
Founded in: 2019
Total funding received: €21.2M
Recent funding sources: RIO ASI, KAYA, Inovo.vc
Warsaw-based medtech startup Jutro Medical, an AI-first primary care provider integrating online and offline care, has secured €12 million in Series A funding. The investment will support AI technology development and expansion across Europe, focusing on the Netherlands and Poland.
Stargate Hydrogen, €11M in Series A
Location: Tallinn, Estonia
Founded in: 2021
Total funding received: €63.7M
Recent funding sources: UG Investments, SmartCap,
GIGA Venture
Tallinn-based Stargate Hydrogen, a greentech startup specializing in electrolyzer development, has raised €11 million in Series A equity investments. The funding will support scaling manufacturing, expanding testing capabilities, and forming strategic partnerships to enhance production and reduce costs.
SplxAI, €6.4M in a seed round
Location: Croatia
Founded in: 2023
Total funding received: €8.3M
Recent funding sources: South Central Ventures, Runtime Ventures, Rain Capital, LAUNCHub Ventures, Inovo.vc, DNV
Croatian startup SplxAI, which develops an AI security platform designed to address the risks associated with AI and LLM technologies, has secured €6.4 million in seed funding for the development and deployment of its Platform.
Intelliseq, €4.5M
Location: Krakow, Poland
Founded in: 2014
Total funding received: €6.5M
Recent funding sources: Vinci, Unfold.vc, Tadeusz Wesołowski
Krakow-based biotech startup Intelliseq, specializing in the automated analysis and interpretation of human genome variations, has secured €4.5 million in funding. The fresh capital will support its expansion into the US market, enhancement of genomic technologies, and deployment of its tools in diagnostic laboratories.
Frankenburg Technologies, €4M in a seed round
Location: Tallinn, Estonia
Founded in: 2024
Total funding received: €5.5M
Recent funding sources: Shellona, Blossom Capital
Estonian defence tech company Frankenburg Technologies, which specializes in rocket science and produces missiles for air defence, has secured €4 million in seed funding to grow its team. The company also plans to collaborate with NATO member states and join the international drone coalition.
Cino, €3.5M in a seed round
Location: Tallinn, Estonia
Founded in: 2023
Total funding received: €6.1M
Recent funding sources: Tera Ventures, Sameer Singh, Connect Ventures, Barney Hussey, Balderton Capital
Tallinn-based fintech startup Cino, which offers shared payments via a single virtual card, has raised €3.5 million in a seed funding round to expand into the UK and enhance its product.
Qneiform, €3M in a seed round
Location: Budapest, Hungary
Founded in: 2022
Total funding received: €3.8M
Recent funding sources: PROfounders Capital, Keen Venture Partners, DFF Ventures, Day One Capital
Budapest-based Qneiform helps users find their ideal recruit. In March, it raised €3 million in seed funding to expand beyond Europe and the US, explore new verticals, and enhance data science linking talent decisions to business outcomes.
ArtMaster, €800k in Series B
Location: Prague, Czech Republic
Founded in: 2018
Total funding received: €2.2M
Recent funding sources: Purple Ventures, Gi21
Czech Republic-based ArtMaster, a firm specializing in music education, has closed an over €800,000 funding round with Purple Ventures to further develop and launch its AI music teacher app.
Fleetbrains, €800k in a pre-seed round
Location: Tallinn, Estonia
Founded in: 2024
Total funding received: €800k
Recent funding sources: Icebreaker.vc
Tallinn-based startup Fleetbrains, which leverages AI to revolutionize fleet sales and stock management, has secured €800,000 in funding from Icebreaker.vc. The investment will support the company's growth and development, addressing key challenges in the automotive industry.
ENGYcell, €250k in a pre-seed round
Location: Riga, Latvia
Founded in:
Total funding received: €437k
Recent funding sources: Change Ventures
Riga-based ENGYcell, which provides personalized energy storage solutions to reduce energy costs and gain energy independence, has secured €250,000 in a pre-seed round to develop further its solution for optimizing commercial energy storage and trading.
