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. You can find below a list of startups from CEE that received funds during September.
Ovoko, €20M in a Series B
Location: Vilnius, Lithuania
Founded in: 2016
Total funding received: over €39 million
Recent funding sources: Smash Capital
Ovoko is a digital marketplace for selling and distributing used car parts, operating in European markets. With approximately 6 million monthly users, the startup has already sold over 1 million car parts. The current €20 million Series B funding, led by Smash Capital, will be used to scale the product and the team.
PastPay, €12M in a Series A
Location: Budapest, Hungary
Founded in: 2019
Total funding received: over €17 million
Recent funding sources: Advance Global Capital, BnL Start Partners, MBH Bank, Platina Capital, Quantic Financial Solutions, STRT, and business angels
PastPay provides a payment processing platform that enables businesses to receive instant income while offering their customers different BNPL options. The startup has offices in Poland, Hungary, and Germany. This funding round will support PastPay’s expansion across the EU, enhancement of its digital infrastructure, and further development of its financing solutions.
Mifundo, €6.3M in a seed round
Location: Tallinn, Estonia
Founded in: 2018
Total funding received: €10 million
Recent funding sources: EIC Accelerator
Co-founded by Marko Käis and Kaido Saar, Mifundo develops a data solution platform that enables cross-border lending and credit risk assessment for both banks and consumers. The startup has received a total of €10 million in funding, which will be used to further develop its solution for portable credit profiles.
ÄIO, €6.1M in a Series A
Location: Tallinn, Estonia
Founded in: 2022
Total funding received: over €8.6 million
Recent funding sources: 2C Ventures, Nordic Foodtech VC, SmartCap, Voima Ventures
Founded by Nemailla Bonturi and Petri-Jaan Lahtvee as a spin-off from Tallinn University of Technology, ÄIO develops technology that allows for the production of sustainable, non-animal fats and oils from recycled biomass using locally sourced by-products. With the current €6.1 million raised in a Series A round, ÄIO plans to build a demo plant in Estonia by 2026.
Fairown, €5.7M in a seed round
Location: Tallinn, Estonia
Founded in: 2018
Total funding received: €6.95 million
Recent funding sources: BonVenture, Gateway Ventures, Neosfer, STIHL Ventures
Fairown is a fintech company that enables banks, and businesses to offer products as a service. Operating in nine European markets, its Fairown Buyback service — a combined system of credit and buyback — is already used by 100,000 consumers. The recent funding will allow Fairown to enhance and scale its product while expanding its customer base in Germany.
Sloneek, €3.6M
Location: Prague, the Czech Republic
Founded in: 2019
Total funding received: €5 million
Recent funding sources: Purple Ventures, Venture to Future Fund, Vision Ventures
Sloneek is an AI-powered HR system that streamlines recruitment, offboarding, talent development, and overall efficiency for both small and large companies through data-driven insights. The startup plans to use the proceeds to advance its technology by creating a people analytics platform and new reporting tools and strengthen its presence in Western Europe, starting with Italy.
Blocksense, over €3.5M in a pre-seed round
Location: Sofia, Bulgaria
Founded in: 2024
Total funding received: more than €3.5 million
Recent funding sources: a16z crypto, Daedalus Angel Syndicate, MH Ventures, Permutation Ventures, Public Works, Selini Capital, The Rollup, Tykhe Block Ventures, and private investors
Blocksense offers Schelling Coin oracle services. This new €3.5 million funding will accelerate the development of Blocksense’s ZK-rollup technology and open oracle feeds, which aim to reduce high costs and centralization issues. The proceeds will be used to grow operations, enhance the developer experience, expand the team, and launch the mainnet.
Ogre AI, €3M
Location: Bucharest, Romania
Founded in: 2021
Total funding received: over €5.6 million
Recent funding sources: Early Game Ventures, Sofia Angels Ventures, Soulmates Ventures, VERBUND X Ventures
Ogre AI develops AI solutions for forecasting energy generation and demand. Using machine learning, the system tackles the unpredictability of renewable energy sources like solar and wind, helping energy operators optimize operations, reduce costs, and manage financial risks. With the fresh capital, Ogre AI aims to enhance its technological capabilities and market presence.
AISPECO, €1.45M
Location: Vilnius, Lithuania
Founded in: 2020
Total funding received: €2.45 million
Recent funding sources: NGL, Innovestor, Superhero Capital
Founded by Rokas Adiklis and Mantas Vaskela, AISPECO manufactures advanced geospatial data collection platforms with multi-sensor payloads, combining LiDAR and hyperspectral imaging for airborne, mobile, and stationary use. The startup plans to use the current funding to focus on product development, including its HELIUX FOCUS.
Petsy, €1.1M in a seed round
Location: Warsaw, Poland
Founded in: 2020
Total funding received: over €1.3 million
Recent funding sources: Cobin Angels, Adam Radzki, and Piotr Wawrysiuk
Founded by Michał Wojewoda and Bartek Sobota, Petsy develops a platform that connects pet owners with local, verified petsitters. The startup operates in 40 cities across Poland and four in the Czech Republic, serving over 90,000 registered users. The current €1.1 million in funding will help Petsy strengthen its position in the Polish market and enhance its international expansion.
Youni, €900k
Location: Bucharest, Romania
Founded in: 2017
Total funding received: €900,000
Recent funding sources: Soulmates Ventures, Early Game Ventures
Youni develops an AI-driven platform that enables universities to connect with students efficiently by aligning with their mutual preferences. The startup has already served over 6,000 students worldwide, who have secured scholarships worth $52 million. With the fresh capital, Youni plans to scale and enhance its product used by universities in the admissions process while also strengthening its presence in the markets of the US, UK, and Australia.
Airvolve, €825k in a seed round
Location: Vilnius, Lithuania
Founded in: 2024
Total funding received: €825,000
Recent funding sources: Baltic Sandbox Ventures, Coinvest Capital, Rita Sakus
Airvolve is developing a heavy-lift aircraft designed for civil and defense missions. Capable of transporting large cargo over distances of more than 60 kilometers, it aims to revolutionize both industries with a cost-effective and versatile solution. With the current funding, Airvolve will continue developing its MVP aircraft, aiming for pre-orders to open by late 2025.
Certific, €700k
Location: Tallinn, Estonia
Founded in: 2020
Total funding received: €8.1 million
Recent funding sources: FIRSTPICK, Change Ventures, HEARTFELT_VC
Certific develops a platform that improves communication between doctors and patients by combining medical insights with advanced technology. With the current funding from FIRSTPICK, Change Ventures, and HEARTFELT_VC, the startup plans to expand into new markets and enhance its platform for doctors, nurses, and patients.
The Cat Health Company, €500k in a pre-seed round
Location: Bucharest, Romania
Founded in: 2024
Total funding received: €500,000
Recent funding sources: Early Game Ventures
Bucharest-based biotech startup The Cat Health Company (TCHC), which focuses on advancing feline longevity research to prevent or delay age-related illnesses in cats, has secured €500,000 in funding from Early Game Ventures and several business angels. The pre-seed round will enable TCHC to launch the research, aiming to extend both the lifespan and quality of life for cats.
Shen.AI by MX Lab, undisclosed round
Location: Tallinn, Estonia
Founded in: 2020
Total funding received: more than €2.7 million
Recent funding sources: Simpact Ventures, Superhero Capital, Tilia Impact Ventures
Shen.AI is an AI-powered smartphone app, developed by MX Lab, that monitors vital signs, heart performance, and health risks. It helps detect and manage lifestyle disorders like hypertension, which affects 1.4 billion people globally. The new funding will be used to advance Shen.AI technology and expand its market presence.
CloseRocket, undisclosed round
Location: Bratislava, Slovakia
Founded in: 2023
Total funding received: €1 million
Recent funding sources: ZAKA VC
CloseRocket is a B2B sales platform focused on helping companies discover and connect with top sales talent. It offers a range of features aimed at scaling sales operations, including access to a global network of sales professionals, tools for developing sales strategies, and a comprehensive sales reporting system. In September, the startup secures an undisclosed amount of funding from ZAKA VC.
SATIM, undisclosed round
Location: Krakow, Poland
Founded in: 2012
Total funding received: over €2.8 million
Recent funding sources: Balnord, Cultivation Capital, Techstars, Verissimo Ventures
SATIM leverages satellite radar data to provide insights in all weather and lighting conditions. The startup's software and algorithms optimize information extraction from complex SAR imagery. With new funding, SATIM plans to enhance its AI-driven SAR solutions, expand its tech team, and strengthen its presence in key geopolitical regions, including NATO countries.
