Every month, Vestbee compiles a list of the most significant financial rounds closed in Central and Eastern Europe and the broader European region. Recently, we published a selection of 15 startups from CEE that secured funding in May, providing details on each deal. You can find below a list of startups from Europe that received funds during May.
Wayve, €965M in a Series C
Location: London, the UK
Founded in: 2017
Total funding received: €1.2B
Recent funding resources: Microsoft, NVIDIA, SoftBank
Wayve focuses on developing Embodied AI software for self-driving cars. The latest funding will allow the company to develop its products for "eyes on" assisted driving, "eyes off" fully automated driving, and other AI-assisted automotive applications. It also plans to expand its operations globally.
Abound, €919B in a Series B
Location: London, the UK
Founded in: 2020
Total funding received: €1.5B
Recent funding resources: GSR Ventures
Abound is fintech startup that uses AI technology to analyze customers' bank transactions to gauge their financial situation and monthly repayment capacity. The funding will help Abound grow, assist more clients, and continue expanding access to affordable finance.
Monzo, €172M in a Series I
Location: London, the UK
Founded in: 2015
Total funding received: €1.7B
Recent funding resources: CapitalG, GIC, Hedosophia
Monzo is a fintech startup that develops a mobile banking app that helps users manage their money and spend around the world. As of now, it is the UK’s largest digital bank, with more than 9 million customers. The fresh funding will be used for expansion of the bank, particularly in the US.
Pheon Therapeutics, €110M in a Series B
Location: London, the UK
Founded in: 2015
Total funding received: €173M
Recent funding resources: Atlas Venture, Brandon Capital, BVF Partners, Forbion Capital Partners, Lightspeed, Perceptive Advisors, Research Corporation Technologies, TCG Crossover
Pheon Therapeutics develops antibody-drug conjugates (ADCs) to target cancer cells with anticancer drugs while sparing healthy tissue. The funds will advance the startup's pre-clinical and clinical pipeline.
H Company, €92M in a seed round
Location: Paris, France
Founded in: 2024
Total funding received: €202M
Recent funding resources: Accel, Aglaé Ventures, Amazon, Bpifrance Large Venture, Creandum, Elaia, Eurazeo, Financiere Saint James, FirstMark, Motier Ventures, Samsung Ventures, UiPath, Visionaries Club, Xavier Niel, Yuri Milner, Bernard Arnault, Eric Schmidt,
H, previously known as Holistic AI, is focusing on AI agents: automated systems designed to perform tasks typically done by humans. The funding is going to be used for building foundational, agentic AI models on large amounts of data, similar to those developed by OpenAI in the US.
Syre, €92M in a Series A
Location: Stockholm, Sweden
Founded in: 2023
Total funding received: €92M
Recent funding resources: Giant Ventures, H&M Group Ventures, IMAS Foundation, Norrsken VC, TPG Rise Climate Fund, Volvo Cars
Syre, a textile impact firm, uses hyperscale textile-to-textile recycling to decarbonize the sector, starting with polyester. The new funding will finance two recycling plants and a prototype factory in the US, set to be online later this year.
Cylib, €54.7M in a Series A round
Location: Aachen, Germany
Founded in: 2022
Total funding received: €66.6M
Recent funding resources: 10x Founders, Bosch Ventures, DeepTech & Climate Fonds, NRW.BANK, Porsche Ventures, Speedinvest, Vsquared Ventures, World Fund, Andrej Henkler, Karim Tabet Jalbout, Kai Hansen, Maximilian Odendahl
Cylib is a battery recycling startup focused on developing an efficient and eco-friendly method for recycling lithium batteries, including those from electric cars. The funding will help industrialize this recycling process and support expansion in Europe.
Natural Cycles, €50.5M in a Series C
Location: Stockholm, Sweden
Founded in: 2013
Total funding received: €91.4M
Recent funding resources: Bonnier Ventures, EQT Ventures, Headline, Heartcore Capital, Lauxera Capital Partners, Point72 Ventures, Samsung Ventures
Natural Cycles is a women's health startup that created a birth control app. With a fresh funding it is going to make investments in new product development, commercial acceleration, and automated healthcare reimbursement.
Grey Wolf Therapeutics, €46M in a Series B
Location: Oxford, the UK
Founded in: 2017
Total funding received: €112.4M
Recent funding resources: Andera Partners, British Patient Capital, Canaan Partners, Earlybird Venture Capital, Intermediate Capital Group, Oxford Science Enterprises, Pfizer Venture Investments
Grey Wolf is a biotechnology company focused on immuno-oncology and drug discovery. The funding will support the ongoing phase 1/2 clinical trial of GRWD5769, an immuno-oncology candidate for solid tumors.
LabGenius, €41M in a Series B
Location: London, the UK
Founded in: 2012
Total funding received: €67M
Recent funding resources: Atomico, Kindred Capital, LG Innovation Ventures, Lux Capital, M Ventures, Obvious Ventures, Octopus Ventures, Recode Health Ventures
LabGenius develops protein-based medicines to address market gaps, such as treatments for inflammatory bowel disease. The Series B funding will be used to expand the platform's applications and advance a proprietary pipeline of multispecific antibodies toward clinical trials.
Doconomy, €34M in a Series B
Location: Stockholm, Sweden
Founded in: 2018
Total funding received: €51.3M
Recent funding resources: CommerzVentures, Motive Ventures, PostFinance, S&P Global, Tenity, UBS Next
Doconomy is a fintech company offering online banking services. The funding will support its expansion into North America and enhance engagement and adoption of tools through product range improvements.
Reactive Technologies, €29M in a Series D
Location: Oxford, the UK
Founded in: 2010
Total funding received: €44M
Recent funding resources: Breakthrough Energy Ventures, Business Growth Fund, M&G Investments
Reactive Technologies is a startup specializing in grid resilience technology, aiding the Net Zero transition and ensuring resilient, renewable grids for operators, utilities, and regulators. The funding will fuel global expansion efforts.
Sona, €25.2M in a Series A
Location: London, the UK
Founded in: 2021
Total funding received: €33.5M
Recent funding resources: Antler, Bag Ventures, Felicis, Gradient Ventures, Northzone, Speedinvest
Sona is a workforce management platform for frontline enterprises. The Series A funding is planned to assist with expanding its go-to-market function and enhance the AI capabilities of its platform.
May Health, €23M in a Series B
Location: Paris, France
Founded in: 2017
Total funding received: €33M
Recent funding resources: Avestria Ventures, Bpifrance, Kidron, Sofinnova Partners, Trill Impact
May Health is a clinical-stage medical device company that supports individuals with endocrine disorders, specifically Ovarian Polycystic Syndrome (PCOS). The funding will be allocated towards the company's expansion efforts and the pivotal study, which aims to evaluate the potential of Ovarian Rebalancing therapy in treating infertility associated with PCOS.
ifeel, €18.4M in a Series B
Location: Madrid, Spain
Launch date: 2017
Funding source: FinTLV Ventures, Korelya Capital, Nauta Capital, SCOR Ventures, UNIQA Ventures
Total funding received: €36.8M
Madrid-based mental health platform ifeel offers comprehensive, scalable support for employees. Recently, ifeel raised €18.4 million in a Series B funding round. The investment will be used to expand its product and innovation capabilities in the mental health arena, as well as to increase its commercial engine across new and existing markets.
Insempra, €18.4M in a Series A
Location: Planegg, Germany
Launch date: 2021
Funding source: Acequia Capital (AceCap), Alante Capital, Bayern Kapital, BlueYard Capital, EQT Ventures, Henkel dx Ventures, Possible Ventures, Taavet+Sten
Total funding received: €33.6M
Headquartered in Planegg, Insempra is a biology-powered company that combines bioscience and technology to create superior products inspired by nature. The startup secured €18.4 million in a Series A funding round to expand the production of yeast-fermented lipids for food and cosmetics.
EthonAI, €15.4M in a Series A
Location: Zurich, Switzerland
Launch date: 2021
Funding source: Earlybird Venture Capital, Founderful, General Catalyst, Index Ventures
Total funding received: €23.2M
Zurich-based Manufacturing Analytics System EthonAI develops a robust software suite used by top manufacturers to reduce production waste and boost worker job satisfaction. Recently, the startup secured €15.4 million in a Series A funding round to advance its foundational work on AI models that target the industry's most challenging problems.
Enifer, €15M in a Series B
Location: Espoo, Finland
Launch date: 2020
Funding source: Nordic Foodtech VC, Taaleri Bioindustry, Valio, Voima Ventures
Total funding received: €48M
Espoo-based Enifer develops PEKILO technology, a biotechnological process that converts dilute side streams into the high-protein ingredient PEKILO mycoprotein, promoting sustainable food systems. The startup raised €15 million in a Series B funding round to construct a unique food-grade mycoprotein factory in Kirkkonummi.
Nory AI, €14.7M in a Series A
Location: Dublin, Ireland
Founded in: 2020
Total funding received: €23.6M
Recent funding resources: Accel, Anamcara Capital, Cavalry Ventures, CircleRock Capital, Enterprise Ireland, NDRC, Playfair Capital, Samaipata, Triple Point Ventures
Nory AI is an AI-driven operating system for hospitality companies, facilitating scalability, operational management, and profitability by consolidating operating data into a single source. With the recent Series A funding, Nory AI aims to deploy AI solutions across the hotel sector.
Harbor Lab, €14.6M in a Series A
Location: Athens, Greece
Founded in: 2020
Total funding received: €20.8M
Recent funding resources: Atomico, Endeavor Catalyst, Notion Capital, Speedinvest, theDOCK, TMV, VentureFriends
Harbor Lab is a maritime technology firm offering an end-to-end disbursement analysis platform that provides standardized and transparent solutions for port expense management. The funding will be used to invest in new technologies, such as AI, to enhance services and support expansion efforts.
Futura, €14M in a Series A
Location: Milano, Italy
Launch date: 2020
Funding source: Axon Partners Group, Eurazeo, United Ventures
Total funding received: €15.8M
Milan-based edtech startup Futura develops an AI-based platform that optimizes study time and test scores by learning from users' past mistakes and targeting weak points. In May, Futura secured €14 million in a Series A funding round to further develop its AI technology and expand its commercial offering through its brands Accademia dei Test and Futura.
ExpressionEdits, €12M in a seed round
Location: Haverhill, the UK
Founded in: 2021
Total funding received: €12M
Recent funding resources: Acequia Capital, Amino Collective, BlueYard Capital, Hawktail Management, Octopus Ventures, redalpine, Wilbe Capital
ExpressionEdits is a biotechnology company utilizing AI and intronization technologies to optimize protein expression. The funding will expedite candidate selection for preclinical research and establish a therapeutic pipeline focused on proteins.
Majority, €11.5M in a Series B
Location: Stockholm, Sweden
Founded in: 2019
Total funding received: €104M
Recent funding resources: Avid Ventures, Heartcore Capital, Hjalmar Winbladh, Jacob De Geer, Magnus Nilsson, Valar Ventures, Victor Jacobsson
Majority develops a digital banking solutions for immigrants, offering services including a checking account, debit card, local discounts, and money transfers. The new funding is planned to help with expansion to the US.
Caeli Wind, €11M in a Series A
Location: Berlin, Germany
Founded in: 2021
Total funding received: €14M
Recent funding resources: High-Tech Gruenderfonds (HTGF), Notion Capital, Santander Climate Tech Fund
Caeli Wind supplies tools for promoting and analyzing wind energy sites. The funding will be utilized to enhance the value chain, advance technology development, and expand internationally.
Trawa, €10M in a Seed round
Location: Berlin, Germany
Launch date: 2022
Funding source: AENU, Balderton Capital, Magnetic Capital, Speedinvest, The Delta, Tiny VC
Total funding received: €12.4M
German full-service green electricity provider Trawa raised €10 million in a Seed round to develop its ecosystem platform, offering SMBs a solution that optimizes procurement and automatically manages and optimizes their electricity consumption.
Purple Dot, €9.2M in a Series A
Location: London, the UK
Launch date: 2020
Funding source: Commerce Ventures, Connect Ventures, Moxxie Ventures, OpenOcean, Paul Forste
Total funding received: €14.5M
Purple Dot develops an e-commerce pre-order and waitlist platform. It aims to help retail e-commerce brands implement a 'sell earlier' strategy to boost sales and reduce inventory. The startup recently secured €9.2 million in a Series A round to further develop its platform.
Rows, €8M
Location: Berlin, Germany
Launch date: 2016
Funding source: Indico Capital Partners, Cherry Ventures, Accel, Lakestar, Armilar Venture Partners
Total funding received: €31M
Berlin-based spreadsheet platform Rows secured €8 million in funding to expand its operations in the US, UK, and Europe and further develop its platform. The startup develops an AI-powered spreadsheet platform designed to enhance data management and analysis.
Swiipr Technologies, €7.1M in a Series A
Location: Crawley, the UK
Launch date: 2019
Funding source: Octopus Ventures, Solano Partners, TX Ventures
Total funding received: €7.1M
Swiipr, a travel tech startup based in Crawley, aims to revolutionize the management of airline delays, disruptions, and operational payouts. The company has recently secured €7.1 million in a Series A funding round, which will fuel its operational scaling and digitalization of legacy compensation processes.
Malted AI, €7M in a Seed round
Location: Edinburgh, the UK
Launch date: 2024
Funding source: Creator Fund, Hoxton Ventures
Total funding received: €8.2M
Malted AI breaks down big models into smaller ones for cost savings and better accuracy, offering 10-100x savings while solving domain-specific problems. With €7 million in seed funding, the startup plans to expand its team, advance research, and develop its product.
Native Teams, €6.2M
Location: London, the UK
Launch date: 2020
Funding source: Eleven Ventures, Fil Rouge Capital
Total funding received: €8.4M
London-based Native Teams is a comprehensive platform providing freelancers, remote workers, and employers with simplified payments, legal employment, tax management, and global mobility solutions. In May, the startup raised €6.2 million to improve its financial services platform performance in key markets and to accelerate the company's expansion into the US, India, and Asian countries.
Tuza, €4.7M in a seed round
Location: London, the UK
Launch date: 2023
Funding source: Connect Ventures, Entrepreneur First, Northzone, Triple Point Ventures
Total funding received: €6.5M
London-based financial services company Tuza is creating an exchange for card payments, offering competitive rates to businesses and increasing processing volume for banks. In May, Tuza raised €4.7 million in a Seed round led by Connect Ventures and Northzone, with participation from Triple Point and Entrepreneur First.
Simpleclub, €4M
Location: Munich, Germany
Launch date: 2015
Funding source: 10x Founders, 3VC, Bonsai Partners, HV Capital
Total funding received: €17.4M
Munich-based Simpleclub offers an educational platform that supports 30 different training professions, providing personalized learning experiences for trainees. The fresh investment will support the further development of its product and the expansion of its team.
AUTOVIO, €3.8M in a Series A
Location: Berlin, Germany
Launch date: 2021
Funding source: coparion, Sparkmind.vc
Total funding received: €6.8M
Berlin-based driving school AUTOVIO simplifies learning to drive with its app for learner drivers, enabling online reservations, theory lesson booking, and progress tracking. In May, the startup secured €3.8 million in a Series A round to further develop the app and drive digitization for driving schools.
Eleos, €3.8M in a seed Round
Location: London, the UK
Launch date: 2023
Funding source: APX, Fuel Ventures, Indico Capital Partners
Total funding received: €4.5M
London-based life insurance startup Eleos develops fully digital life insurance and income protection products. The startup raised $4 million in seed funding led by Fuel Ventures and Indico Capital. The fresh funding will help Eleos to launch additional types of insurance in the life and health sectors, expand its partnerships within the UK, and extend its operations into the US market.
NcodiN, €3.5M in a seed round
Location: Palaiseau, France
Launch date: 2023
Funding source: Earlybird Venture Capital, Elaia, OVNI Capital
Total funding received: €3.5M
French deeptech startup Ncodin focuses on developing an optical interposer for high-performance computing and artificial intelligence processors. Recently, Ncodin secured €3.5 million in a seed round to revolutionize the processor sector.
Sportable, €3.5M in a Series A
Location: London, the UK
Launch date: 2015
Funding source: Guinness Ventures
Total funding received: €17.3M
London-based startup Sportable, specializing in data and analytics for team sports, offers advanced insights into team sports, which increases fan interaction, enhances player performance, and creates new revenue opportunities. The new investment will support the company's global expansion and enhance its operations.
QA.tech, €3M in a seed round
Location: Stockholm, Sweden
Launch date: 2023
Funding source: byFounders, Curiosity VC, Jens Saltin, Jon Aslund, Mads Johnsen, PROfounders Capital
Total funding received: €3.9M
Stockholm-based AI-based software testing startup QA.tech secured €3 million in a seed round to expand its team and further develop its product. The startup aims to enhance engineers' productivity by automating application testing, providing rapid feedback, minimizing bugs, enhancing quality, and expediting time to market.
Viable, €2.8M in a seed round
Location: London, the UK
Launch date: 2023
Funding source: Episode 1, Haatch, Martin Brailsford, Portfolio Ventures
Total funding received: €2.8M
London-based fintech company Viable secured a €2.8 million seed funding round to enhance and expand its financial solutions tailored for e-commerce businesses. The startup develops an AI-powered finance platform designed for D2C, multichannel, and wholesale commerce brands.
Faircado, €2.25M in a pre-seed round
Location: Berlin, Germany
Launch date: 2021
Funding source: Accel, General Catalyst, Impact Shakers, Lightspeed Venture Partners, New Enterprise Associates, Northzone, World Fund
Total funding received: €3M
Berlin-based second-hand shopping extension Faircado, which aggregates and compares offers to help users save time, money, and CO2, secured €2.25 million in a pre-seed funding round. The startup plans to use this funding to expand within Germany and enter a new market, the UK.
VitVio, €1.8M in a pre-seed round
Location: London, the UK
Launch date: 2023
Funding source: Chris Mairs, Dr. Zehan Wang, Earlybird Venture Capital, LDV Capital, Tiny VC
Total funding received: €1.8M
VitVio, a London-based analysis platform for surgical procedures, leverages computer vision and AI expertise to analyze tool usage and protocol adherence. In May, VitVio secured €1.8 million in a pre-seed round.
qomodo, €1.5M in a pre-seed round
Location: London, the UK
Launch date: 2023
Funding source: Amadeus Capital Partners, Auriga Cyber‚ Expeditions Fund, McNally Capital, Nio Advisors, Techstars, Ventures Together
Total funding received: €16.3M
London-based cybersecurity startup qomodo secured €1.5 million led by Expeditions Fund. With the raised capital, qomodo plans to enhance its platform-agnostic software agents and expand its operations in Europe and the US. Qomodo develops host-based intrusion detection and response systems (HIDRS), with solutions targeting cybersecurity for XIoT, industrial IoT, and enterprise IoT environments.
Symbe, €1.4M in a pre-seed round
Location: London, the UK
Launch date: 2023
Funding source: Concept Ventures, Fedor Chmile, Nodes Ventures, Notion Capital, PactVC, Richard Hadler
Total funding received: €1.4M
London-based AI-powered Collaborative Business Case Platform Symbe raised €1.4 million in a pre-seed round. The fresh funding will help Symbe grow its team, enhance and expand the platform's functionality, and support the company's expansion into several international countries.
hexafarms, €1.3M in a pre-seed round
Location: Berlin, Germany
Launch date: 2021
Funding source: Mudcake, Speedinvest, Techstars
Total funding received: €15.5M
Berlin-based ag-tech startup Hexafarms specializes in developing software for indoor agricultural food production. The startup secured €1.3 million in a pre-seed round led by Speedinvest. Hexafarms plans to use the new funding to enhance its AI capabilities and expand operations.
Haz, €1.29M in a pre-seed round
Location: London, the UK
Launch date: 2024
Funding source: Andreessen Horowitz, Atomico, Ben Silvertown, Concept Ventures, Dan Silvertown
Total funding received: €1.29M
London-based social shopping app Haz develops an AI-powered social commerce app that tracks ownership, resale value, and simplifies the second-hand consumer experience. The startup raised €1.29 million in a pre-seed round to grow its team of engineers and creators, expand its operations in the UK before expanding across Europe, and improve its AI models, including its remote authentication technology.
Deltablock, €1.25M
Location: Paris, France
Launch date: 2020
Funding source: Blast.club, Entrepreneur First, Index Ventures
Total funding received: €1.25M
Paris-based Deltablock develops tools and technology that combine algorithmic precision with market insights to enhance liquidity and visibility for listed companies, ensuring their stock stands out in the secondary market. Deltablock raised €1.25 million to help underserved SMEs achieve the visibility and liquidity they deserve in the stock market.
StudioSpace, €1.18M in a seed round
Location: London, the UK
Launch date: 2021
Funding source: Fuel Ventures
Total funding received: €2.9M
London-based studioSpace offers solutions for sourcing digital and marketing services. The startup raised €1.18 million in a seed funding round, backed by Fuel Ventures.
Routal, €1M
Location: Barcelona, Spain
Launch date: 2015
Funding source: EIT InnoEnergy, HCapital Partners
Total funding received: €1M
Spanish logistic platform Routal offers AI software solutions for logistics services and field operations to ensure accuracy in data-poor environments. The startup secured €1 million in funding to grow and expand globally.
Firenze, €881k in a pre-seed round
Location: Manchester, the UK
Launch date: 2023
Funding source: Ada Ventures, Amir Nooriala, Andi Kazeroonian, Andreessen Horowitz, Ara Yeromian, Atomico, Cazenove Capital, Charles Delingpole, Felix Leuschner, Julius Baer Group
Total funding received: €881k
Headquartered in Manchester, Firenze is a financial service firm that enables wealth managers, advisers, and investment platforms to offer investment-backed loans from £25k without needing to move custody. In May, the startup raised €881,000 in a pre-seed round to broaden access to lombard lending.
bit.bio
Location: Cambridge, the UK
Launch date: 2016
Funding source: ZAKA VC
Total funding received: €13.3M
Cambridge-based human synthetic biology startup bit.bio program human iPSCs with unprecedented consistency and speed, potentially unlocking a new generation of medicines. In May, ZAKA.VC invested in bit.bio an undisclosed amount.
