Lead Ventures Unveils €100 Million Fund to Boost CEE Startups in High-Growth Sectors

HUNGARY

Lead Ventures Launches €100 Million Fund to Boost CEE Startups Budapest-based Lead Ventures has unveiled a new €100 million fund targeting late Seed and Series A startups in Central and Eastern Europe, offering investments ranging from €2 million to €10 million. The fund, backed by MOL Group and National Capital Holding, aims to strengthen the region’s startup ecosystem by focusing on high-growth sectors such as mobility, finance, energy, IoT, sustainability, and retail. Lead Ventures’ strategy combines capital injection with expert guidance, leveraging its extensive network to support portfolio companies in their expansion and market validation efforts. [Source: EU Startups]

AI-Powered Accelerator Latest Batch Targets Solo Non-Tech Founders Roboteam, a Budapest-based tech startup accelerator, is launching its second AI-powered program in September 2024, targeting solo entrepreneurs without technical backgrounds. The free four-week course guides participants through ideation, prototyping, and pitch preparation, leveraging AI tools to overcome the lack of co-founders or coding skills. Open to global participants regardless of technical expertise, the program aims to democratize startup creation in an increasingly AI-driven landscape. This initiative highlights the growing trend of AI integration in entrepreneurship, potentially reshaping the startup ecosystem by lowering barriers to entry for non-technical founders. [Source: Roboteam]

ESTONIA

Estonian Accelerator Startup Wise Guys Backs Italian Cyber Firm in €500K Round Italian cybersecurity startup CyLock has secured €500,000 in a funding round led by Scientifica Venture Capital, with participation from Estonian accelerator Startup Wise Guys, CDP Venture Capital, and Exor Ventures. Founded in Rome in 2022, CyLock has developed AI-powered software that enables both experts and non-specialists to test IT systems in SMEs, simulating thousands of attacks to identify vulnerabilities across various digital assets. The investment will fuel CyLock’s international expansion plans and further product development, marking another strategic move by Startup Wise Guys in supporting early-stage startups across Europe and Africa. [Source: BalticVC]

LATVIA

Latvian Electric Minibus Maker Electrify Secures €1.5M from ZGI Capital Riga-based Electrify, a manufacturer of electric minibuses and vans, has raised €1.5 million from Latvian investment firm ZGI Capital. Founded in 2019, Electrify designs and retrofits electric vehicles for various uses, including city and intercity transport, school buses, and custom applications, with about half of its products exported to markets including Estonia, Lithuania, Germany, and Norway. The investment will support Electrify’s expansion plans and increase production capacity, marking a significant boost for sustainable transport solutions in the Baltic region. [Source: BalticVC]

UKRAINE

TechUkraine Partners with Startup Valencia for VDS2024                                  

TechUkraine has joined forces with Startup Valencia to co-host VDS2024, a major international tech conference set for October 23-24 at Valencia’s City of Arts and Sciences. The event, now in its seventh year, is expected to draw over 12,000 attendees from more than 100 countries, including 2,500 startups and 700 investors managing assets worth €30 billion. Themed “Embracing evolution: Invest in the leaders of tomorrow,” VDS2024 aims to showcase cutting-edge innovations and foster connections between startups, corporations, and investors, solidifying Valencia’s position as a global tech hub. [Source: TechUkraine]

Ukraine’s Open Data Accelerator Offers ₴5.8 Million for Innovative Startups The Open Data Accelerator, a prestigious annual program aimed at startups leveraging open data, has opened its application process. With over ₴5.8 million in available funding, the program seeks projects that address Ukraine’s socio-economic challenges and promote transparency and anti-corruption. Participants will benefit from educational workshops, mentorship, networking opportunities and continued post-program support. Up to 15 tech-focused startups will be selected, with applications due by August 16th.                 [Source: TechUkraine]

Luxembourg’s LHoFT Unveils Ukraine Bootcamp for Fintech Innovators Luxembourg’s House of Financial Technology (LHoFT) is launching the Catapult: Inclusion Ukraine bootcamp, a week-long program for Ukrainian fintech startups focused on financial inclusion. Running from October 14th to 18th, 2024, the bootcamp will help 10 selected firms enhance their impact, scale operations, and secure funding, with travel and accommodation covered for one participant per company. Sponsored by Luxembourg’s Directorate for Cooperation and Humanitarian Affairs, this initiative aims to foster innovation and connect Ukrainian fintechs with leaders and investors in the financial inclusion ecosystem. [Source: TechUkraine]

UZBEKISTAN

IT Park University and EPAM Systems Partner to Boost IT Education in Uzbekistan. IT Park University, a premier IT education institution in Uzbekistan, has partnered with global IT leader EPAM Systems to elevate its training standards. This collaboration aims to create a robust talent pool, providing graduates with opportunities to work on international projects and boosting the local economy. The university’s recent Open Day showcased its programs and emphasized the importance of combining technical and soft skills for successful IT careers. [Source: Daryo]