Today, we are delving deep into the most interesting CEE funding rounds that took place in October, the first month of Q4 2022. This time AI, Enterprise Software, Energy, Big Data, and Healthcare attracted investors' interests.
Let’s discover the TOP October startup funding rounds in CEE!
Katana
Location: Tallinn, Estonia
Launch date: 2017
Funding Round: Series B €35M
Funding Source: 42CAP, Atomico, Lightrock, Northzone, Business Angels
Total funding received: €51M
Founded in 2017, Estonia Katana is an enterprise resource planning (ERP) platform for small- and medium-sized manufacturers that allows its customers to track materials, get real-time updates, plan production, make automatic inventory adjustments or even manage outsourcing manufacturing. Recently secured series B round of €35M from 42CAP, Atomico, Lightrock, and Northzone will be allocated to rolling out more advanced accounting integrations.
Shapr3D
Location: Budapest, Hungary
Launch date: 2015
Funding Round: Series B €14.5M
Funding Source: Adjacent, Creandum, EBRD (Investment Firm), Lifeline Ventures, Point Nine, Speedinvest
Total funding received: €21.8M
Hungarian Shapr3D, founded in 2015, is a producer of a 3D CAD modeling app. The startup has brought a revolutionary 3D modeling experience for many mechanical engineers, interior designers, graphic designers, CAD architects, industrial designers, and many more. Recently secured funding in the amount of €14.5M will be allocated to further product development. Among investors participating in the round were world-famous names like Adjacent, Creandum, EBRD (Investment Firm), Lifeline Ventures, Point Nine, and Speedinvest.
Powerful Medical
Location: Bratislava, Slovakia
Launch date: 2017
Funding Round: Seed €6.2M
Funding Source: bpd partners, Crowdberry, Venture to Future Fund
Total funding received: €7.4M
Slovakia-based Powerful Medical is a healthcare startup that developed an AI-powered medical solution for interpreting ECGs and precisely diagnosing cardiovascular diseases. The app detects cardiac diagnoses from a single ECG input and also provides treatment recommendations that help physicians make immediate medical decisions. The startup has recently been supported by bpd partners, Crowdberry, and Venture to Future Fund in €6.2M seed round to scale and grow.
bunny.net
Location: Kranj, Slovenia
Launch date: 2015
Funding Round: Seed €6M
Funding Source: Capital Genetics, Runa Capital
Total funding received: €6M
Slovenia-based bunny.net, founded in 2015, is a developer-friendly content delivery platform, edge storage, and optimization services. The startup claims that it has already powered over a million websites. Recently secured a seed round in the amount of €6M from Capital Genetics, and Runa Capital will support the further development of its platform.
Alvin
Location: Tallinn, Estonia
Launch date: 2018
Funding Round: Seed €6.1M
Funding Source: Icebreaker.vc, Nomad Capital, Project A Ventures, business angels
Total funding received: €6.1M
Tallinn-based Alvin, founded in 2018, is a software as a service data lineage company that offers data analysts toolkit to help customers improve the quality of their data at lower costs. Thanks to that, teams can detect and trace pipeline errors/bugs, as well as reduce data downtime. Recently, Alvin landed a seed round from Icebreaker.vc, Nomad Capital, Project A Ventures and business angels. The secured funding will be used to execute its go-to-market strategy.
AdScanner
Location: Zagreb, Croatia
Launch date: 2012
Funding Round: Series A €5M
Funding Source: J&T Ventures, Lead Ventures, South Central Ventures
Total funding received: €9.9M
AdScanner is a marketing startup that provides big data solutions for a new generation of TV business models. Among other features, the company has developed a unique algorithm for automatic video content recognition that changed the notion of speed and accuracy in the AdTech world. AdScanner has recently secured a series A round of €5M from J&T Ventures, Lead Ventures, and South Central Ventures, and the obtained funding will further boost the growth and enter new tier one markets.
Cloud Factory
Location: Tallinn, Estonia
Launch date: 2018
Funding Round: Seed €2M
Funding Source: Change Ventures, Superhero Capital, business angels
Total funding received: €3M
Estonia-based Cloud Factory is a precious metal 3D printing company that enables celebrities like YouTubers, gamers, social media influencers and other types of merchandise brands to launch and sell their personal branded jewelry products, either as tangible products or NFTs. The startup has recently secured a €2M seed round from Change Ventures, Superhero Capital, and business angels with a goal to increase its manufacturing capacities.
Demoboost
Location: Warsaw, Poland
Launch date: 2021
Funding Round: Pre-seed €1.7M
Funding Source: btov Partners, Movens Capital
Total funding received: €1.7M
Poland-based Demoboost is a provider of a platform to create, personalize, share, and track product demos at scale. Therefore startup helps B2B software vendors save time and money, shorten sales cycles, and double deal win rates. Demoboost has recently been backed by btov Partners, and Movens Capital in a €1.7M pre-seed round. Funding will be spent on releasing new features and establishing a stronger presence in the market.
GridIO
Location: Tallinn, Estonia
Launch date: 2015
Funding Round: Seed €1M
Funding Source: Link Capital, Specialist VC, The Sharing Group
Total funding received: €1M
Estonia-based GridIO is a cleantech startup that helps people adjust electricity consumption to save money and energy. The company has developed one of the most popular energy apps used in the Nordics for smart charging electric cars and scheduling residential electricity use based on electricity prices. Recently secured €1M seed round from Link Capital, Specialist VC, and The Sharing Group will be allocated to further app development.
Wellbee
Location: Warsaw, Poland
Launch date: 2020
Funding Round: Seed €730K
Funding Source: WP2 Investments
Total funding received: €730K
Founded in 2020, Polish-based startup Wellbee is an online mental health platform providing personalized mental health solutions to B2C as well as B2B customers. Company facilitates access to online psychotherapy by matching specialists to clients’ needs. Among customers already working with Wellbee are big names like PwC, EY or Canon. Startup has recently closed a €730K seed round from WP2 Investments.
Sources: Vestbee VC & startup community, startup press releases, web & social media monitoring, Crunchbase
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