CEE VC SUMMIT 2025

25th of March 8:00 am CET

August 21, 2023·4 min read

Sofia Drobychevskaya

VC & Startup Weekly News, August 12-18, 2023

Notable Funding Rounds across EU:

  • Dublin's TechMet raises $200M for EV and renewable energy metals, backed by US government to secure the supply of the key metals for renewable energy
  • Cambridge's Lightcast Discovery secures $49M in Series B funding led by M Ventures. The life science firm is creating a single-cell functional analysis platform.
  • Dutch medtech Xeltis secures €12.5M from EIC Fund to advance trials of tissue-regenerating implants to stimulate the natural creation of vessels. 

New Venture Funds:

  • Ribbit Capital has secured $800M for its 10th fund, Ribbit X, focused on fintech across Europe, Asia, and India market. The Palo Alto-based firm previously raised $1.15B for Fund VII in early 2022. Notable investments include PhonePe and RobinHood.
  • Detroit-based Assembly Ventures has closed its first €70M mobility fund, aimed at early-stage investments in transformative mobility technologies, and oversees its European investments.

Startup Funding Rounds & Acquisitions:

  • Georgia's CityPay.io, a fintech for cryptocurrency payments, secures €2M in Seed funding from Presto Ventures and Tether to simplify crypto payments converting them to fiat.
  • Latvian startup Swotzy raises €500K pre-seed funding for innovative last-mile logistics, backed by Black Pearls VC and Firstpick for expansion in the Baltic market.
  • Hungarian startup iBar Experience secures $500k from Hiventures for its AI-powered restaurant inventory app. 
  • Poland's Sweepee, a robotics startup, has joined SPINAKER alfa's portfolio. Sweepee's focus is on autonomous sweeping robots that navigate complex environments and plan tasks.
  • Czech startup Twisto was acquired by Turkish fintech Param for European and CEE expansion. Twisto offers online payment solutions and BNPL services. Acquisition amount undisclosed
  • Romanian cybersecurity company Bitdefender acquires Singapore's Horangi Cyber Security to strengthen its Managed Detection & Response (MDR) services. Deal amount undisclosed.

Startup Calls:

  • Last call to AWS Global Fintech Accelerator - an equity-free online program that is designed to empower AI-driven Fintech startups for global success with product, business, and investment support. Apply till August 31st.
  • Estonia-based Wise Guys is calling for B2B MVP stage fintech/insurance/ regtech startups to join the Global Fintech Accelerator program. Elevate your startup with tailored guidance and €150K investment. Revolutionize your strategy with world-class mentors, learn from experts, and build a network of founders and investors. Applications are open until August 31, 2023.
  • Join IT Arena, a prominent tech conference in Eastern Europe, by applying to the Startup Competition 2023. If you have an MVP stage startup, raised investments up to $500k this is a chance to showcase your innovation and compete for cash prizes totaling over $245k. Register by August 25.
  • Orange Fab is inviting Romanian-based commercial startups to apply for an accelerator program focused on 5G technology. Applications are sought in areas like mobility, smart cities, AR/VR, health, cybersecurity, and more. Selected startups will receive access to 5G labs during Onboarding Days. The application is open till September 2, and a Demo Day event on September 28.
  • The Latvian Business Angels Network is inviting latvia-based idea-stage startups to participate in the "Ideju Kauss 2023" competition. This is a chance to showcase innovative business ideas and win a share of the prize fund totaling  40k EUR.. The application window is open until September 3rd. To participate, simply visit www.idejukauss.lv and complete the registration form.

 

Related Posts:

VC & Startup Weekly News From CEE,  August 5 - 11, 2023 (by Sofia Drobychevskaya, Editor, Vestbee)

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VC & Startup Weekly News From CEE,  July 1 - 7, 2023 (by Sofia Drobychevskaya, Editor & Ilya Mikhalchyk-Kananenka, Community Builder, Vestbee)

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