Daria Solovieva
EU REGION
Europe Startup Report Calls for Pan-EU Framework to Bridge Regional Divides A new report from European Commission’s StepUp Startups recommends the creation of a unified regulatory framework to address Europe’s fragmented startup ecosystem, highlighting uneven access to venture capital between Western and Eastern regions. The study, which examines barriers including complex cross-border regulations and talent mobility challenges, recommends establishing an EU-wide startup visa program and standardized tax incentives to strengthen cross-border investment. [Source: Labs of Latvia]
UKRAINE
Ex-CIA Official Claims Ukraine Drones Surpass US Capabilities on Carlson Show
Former CIA Counter-terrorism Director Bernard Hudson, who has spoken in support of Tulsi Gabbard’s nomination to be the director of national intelligence, said Ukraine’s drone program, as well as is Russia’s, is “far more sophisticated” compared to that of the United States during an appearance on Tucker Carlson’s program (at 1:40 min), speaking to an audience typically skeptical of U.S. aid to Ukraine. Hudson now leads defense contractor Advanced Archer, a partner of Chenope, a technology firm specializing in detecting information manipulation patterns, has established a non-compensatory partnership with the Ukrainian government. [Source: YouTube, Chenope]
Ukraine Defense Tech Forum Draws Global Interest as Investment Surges
Ukraine’s defense technology sector is drawing heightened international attention ahead of the Defense Tech Innovations Forum 2025, scheduled for February 18-19, as foreign investment in the sector reached $40 million this year—an eightfold increase from the previous year. The event, organized by Brave1, follows their successful October summit that attracted 1,300 participants and comes as Ukrainian firms forge new partnerships with international organizations like Denmark’s CenSec, signaling the sector’s growing global integration. [Source: TechUkraine]
Ukrainian AI Firm LetsData Raises $1.6 Million for Disinformation Detection
LetsData, a Ukrainian startup using AI to track coordinated disinformation campaigns across more than 100 million websites, has secured $1.6 million in pre-seed funding led by SMOK Ventures, with Google’s Ukraine Support Fund and other investors participating. The company, which claims to detect 80% more threats than traditional tools through semantic analysis in over 50 languages, plans to expand its operations in U.S. and European markets. [Source: Ukraine Business News]
Ukrainian AI Startup Raises $500,000 for Social Commerce Automation
Ukrainian startup CostCare AI has secured $500,000 in angel funding to develop AI agents that autonomously manage social media sales and customer interactions. The company, founded in September 2024 by developers Andrii Varenyk and Paul Wahtel, creates “virtual workers” that handle tasks from customer communication to CRM data entry, aiming to address workforce challenges in social commerce. [Source: TechUkraine]
CZECH REPUBLIC
Quantum Security Startup Wultra Snags €3M as Banks Race to Shield Data Czech cybersecurity firm Wultra has secured €3 million in funding to accelerate its post-quantum authentication technology for banks, with Tensor Ventures leading the round alongside Elevator Ventures and J&T Ventures. The startup, which already counts Raiffeisen Bank and Erste Group among its clients, offers quantum-resistant security solutions including biometric logins and PIN codes for financial institutions. The fresh capital will fuel Wultra’s expansion into Western Europe and Southeast Asia, including plans for a Singapore office in 2025, as financial institutions scramble to fortify their systems against future quantum computing threats. [Source: Vestbee]
ESTONIA
Estonian SaaS Firm Katana Draws Investment From New Siena Fund Katana, a cloud inventory management platform that claims to boost client sales by 60%, has secured undisclosed funding from Siena Secondary Fund II in the fund’s inaugural investment. The Tallinn-based startup, which serves major markets including the US and UK, is being positioned by Siena to potentially follow the success trajectory of Estonian ride-hailing giant Bolt, the fund’s previous high-profile investment. [Source: Vesbee]
LATVIA
Latvia’s Drone Makers Win $18.5 Million Ukraine Contract in NATO-Led Deal
Latvian manufacturers secured contracts to supply 12,000 drones to Ukraine as part of a broader €54 million ($59 million) international procurement initiative led by Latvia and the UK, Defence Ministers announced at Ramstein. The deal, involving two Latvian firms selected from 265 applicants, represents about one-third of a planned 30,000-drone delivery coordinated through the 17-nation International Drone Coalition. [Source: Labs of Latvia]
Nano-Coating Startup Naco Raises €1.5M to Make Green Hydrogen More Affordable Riga-based Naco Technologies has secured €1.5 million in pre-Series A funding to scale its innovative nano-coating technology that dramatically reduces the need for expensive metals in hydrogen production. The company’s breakthrough technology can cut the use of precious metals like platinum and iridium by up to 90%, potentially transforming the economics of green hydrogen production. The funding, co-led by newly launched Radix Ventures, will support the construction of a manufacturing facility in Poland and further R&D efforts to advance the company’s clean energy solutions. [Source: Vestbee]
KYRGYZSTAN
Kyrgyz AI Startup Pivots to Mental Health Device for US Market After $100,000 Raise AkylAI, rebranded as CorePod, has secured $100,000 in funding ($50,000 each from Kyrgyzstan’s High Technology Park and EBRD’s Star Venture Program) to develop an AI-powered mental health assistant device. The startup, which initially created Kyrgyzstan’s first local language chatbot, has completed prototype development and is conducting user testing via Reddit. The company plans to launch in the US market at $199 per device with a $20 monthly subscription. [Source: DigitalBusiness.kz]
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