Daria Solovieva
UKRAINE
Ukraine’s Defense Tech Sector Thrives Amid Weakening US Support
Ukraine’s homegrown defense technology industry is experiencing significant growth and attracting increased European investment as the conflict with Russia enters its fourth year. [Source: Euronews]
Ukraine’s Tech Surge Could Redefine UK Defense
Ukraine’s evolving tech sector is set to boost the UK’s defense capabilities, according to Serhiy Tokarev, co-founder of Roosh and Roosh Ventures. He highlights Ukraine’s untapped AI and machine learning talent as a key driver for UK innovation, with Ukraine ranking second in Central and Eastern Europe for AI companies. This partnership comes as the UK has committed $9.9 billion in military support, and could significantly boost the UK’s defense tech sector, which has seen a recent decline in investments. With Ukraine’s expertise in dual-use technologies and a fivefold increase in AI specialists over the past decade, the stage is set for a transformative alliance. [Source: TechUkraine]
Skyeton Unveils Game-Changing Drone Tech at XPONENTIAL Europe 2025
Ukrainian defense tech company Skyeton has introduced two groundbreaking innovations at XPONENTIAL Europe in Düsseldorf: the Remora guided munition and advanced GLE-series optoelectronic system. The Remora, designed for Skyeton’s Raybird UAV, is a precision gliding munition capable of deep strikes while keeping the aircraft undetected. [Source: Millitarnyi]
Double Tap Invests in Ukrainian Drone Startup Black Forest Systems
Finnish-Ukrainian investment firm Double Tap Investments has backed Ukrainian drone developer Black Forest Systems with an investment of up to $300,000. The startup’s flagship product, Vyrok, is a user-friendly reconnaissance and strike drone designed for infantry support. This partnership aligns with Double Tap’s strategy to aid Ukraine’s defense efforts and supports Finland’s Unmanned Systems Development Strategy 2030. Black Forest Systems, comprising 15 specialists, had previously self-funded with $100,000 before securing this investment. [Source: Ukraine Business News]
ESTONIA
Estonian Startup GaltTec Secures $1.5M for Advanced Fuel Cell Technology
GaltTec, an Estonian startup developing micro-tubular solid oxide fuel cells (MT-SOFCs), has raised approximately $1.5 million in a pre-seed funding round led by 2C Ventures. Founded in 2022, GaltTec aims to revolutionize portable and off-grid power solutions for drones, IoT devices, and space applications. The funding will accelerate the development of GaltTec’s next-generation fuel cell technology, enabling the company to deliver lightweight, high-efficiency power solutions and expand into global markets.[Source: Vestbee]
Tallinn-based Pointship Secures $1.9M for Global Expansion
Pointship, a Tallinn-based fintech startup founded in 2020, has raised $1.9 million to fuel its global expansion and enhance its digital asset marketplace platform. The company, which allows users to manage and exchange assets like loyalty rewards, game credits, and event tickets, has grown rapidly to over 100,000 active users, particularly in Turkey. With this funding, supported by investors from Turkey, Dubai, and London, including Startup Wise Guys, Pointship aims to improve its technology, expand into the European market, and transform digital assets into NFTs for token-based exchanges. [Source: Vestbee]
LITHUANIA
Lithuanian Startup Strato Create Secures $175,000 Investment for Global Expansion
Strato Create, a Vilnius-based architecture and construction startup, has raised approximately $175,000 to expand internationally and enhance its AI-powered construction project automation platform. The funding round was led by Coinvest Capital, a Lithuanian venture fund, which contributed about $130,000, alongside three industry-experienced business angels. Founded in 2019, Strato Create aims to revolutionize home design, valuation, and sales processes using AI and 3D printing technology. [Source: BalticVC]
Lithuanian National Development Bank ILTE Launches $19.5M Venture Fund
ILTE, Lithuania’s National Development Bank, has announced the launch of Accelerator 3, a new $19.5 million venture fund aimed at supporting local startups. The fund, financed by EU and state budget resources, will focus on creating, implementing, and disseminating advanced technologies and innovations through investments in micro, small, and medium-sized enterprises. ILTE is currently seeking two fund managers who will be responsible for attracting additional private investment. [Source: BalticVC]
POLAND
Polish Fintech Wealthon Secures $120M to Revolutionize SME Financial Services
Polish fintech startup Wealthon has raised $120 million in funding from 3TS Capital Partners and affiliates of Fortress Investment Group. Founded in 2019, Wealthon offers integrated financial solutions for small and medium-sized enterprises (SMEs), including lending, mobile finance management, and POS systems. The company plans to use the funds to accelerate growth, expand its offerings, and prepare for international expansion, aiming to support SMEs in high-growth industries. [Source: Vestbee]
ROMANIA
Romanian Startups Hit Record $137M Investment in 2024
The “Venture in Eastern Europe 2024” report reveals that investments in Romanian startups reached a new high of $137 million in 2024, marking the fourth consecutive year above $105 million. While growth was modest at 0.8% compared to 2023, the number of transactions increased significantly by 31.1% to 80 deals. [Source: Romania Insider]
RUSSIA
Three Years of War Reshape Russia’s Tech Landscape
Russian independent media outlet The Bell published a special report on the impact the three-year conflict had on Russia’s technology sector, including major losses and setbacks in crucial fields like artificial intelligence and drones. Still, the departure of Western competitors has allowed many domestic companies to capture market share and profit from import substitution efforts. [Source: The Bell]
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