Natalie Novakova
UKRAINE
💵 Venture Syndicate Toloka.vc Invested $1.06M in German Online Car Subscription Service
Toloka.vc, a Ukrainian venture syndicate, invested around $1.06 million (€1 million) in the German online car subscription service FINN, which aims to streamline car ownership by offering integrated services including car selection, delivery, insurance, maintenance, and financial management. Munich-based FINN has seen remarkable growth over the past three years, introducing new features like a loyalty program and a chatbot, aligning with Toloka.vc’s investment strategy. This investment marks the syndicate’s fifth agreement since its founding in May 2023 [Source: InVenture]
🏷️ Pricing Startup Competera Received Funding from u.ventures
Ukrainian pricing startup Competera secured investment from Kyiv-based fund u.ventures, with the exact amount undisclosed, following a $3 million initial round closed in January. Competera plans to utilize the fresh investment to enhance its AI capabilities, expand service offerings, and scale its global operations to better support its retail clients, with u.ventures being the sole investor in this seed round. [Source: InVenture]
The Defence Builder Accelerator Program Launched for Military Startups
A recently launched Defence Builder Accelerator program aims to support startups interested in creating innovative solutions with military applications, offering access to technical expertise and financial guidance crucial for project development through online lectures and personal meetings. With a focus on fields like UAVs, cyber security, and sensors, the program seeks to bolster Ukraine’s defense sector by nurturing new startups and providing opportunities for access to investors post-program completion. [Source: UBN]
🏅Haiqu Recognized as One of the Most Promising Quantum Startups in Europe
Sifted’s rating of the 11 most promising quantum computing startups includes Ukrainian startup Haiqu. The list comes amidst growing investments in European quantum startups, totaling $781 million in 2023. Haiqu, founded by Mykola Maksymenko and Richard Givan, attracted $4 million in pre-seed funding in 2023, focusing on software technologies to enhance the capabilities of quantum computer hardware alongside other promising quantum startups from across Europe. [Source: Sifted]
🤝 Risk Management Startup Joined Alchemist Accelerator
Mantis Analytics, a Ukrainian AI startup focusing on risk management, has joined the prestigious Alchemist Accelerator, securing a $30,000 investment from the program. The accelerator’s extensive network of mentors, investors, and corporate partners will facilitate Mantis Analytics’ entry into the US market, providing invaluable support for networking, fundraising, and knowledge acquisition. [Source: ain.capital]
THE BALTICS
🚘 Estonian Car Service Platform Raised $373K in a Latest Round
Fleetfox, an Estonian fleet care platform, secured around $373,000 (€350,000) in a “follow-up” seed round, with a third of the investment already secured and the rest expected by the end of April. The round was led by Estonian syndicate EstBAN and joined by BADideas.fund and other investors. Founded in 2017, Fleetfox, formerly UpSteam, offers car services for shared mobility companies across the Baltic states’ capitals, planning to utilize the investment to expand its team, enhance technology, and explore new markets as it prepares for an upcoming Series A round. [Source: BalticVC]
🔑 Estonian Plural VC Invested in US Home Services Provider PipeDreams
Plural, an Estonian early-stage VC, joined forces with Canvas Ventures to invest around $24.5 million (€23 million) in PipeDreams, a US-based home services provider. PipeDreams, founded in 2020, specializes in acquiring heating, ventilation, air conditioning, and plumbing (HVAC) companies, leveraging software for scaling and data analytics. With this latest investment, it plans to expand its services beyond HVAC to other professions like electricians, supported by training programs for employees. [Source: BalticVC]
⚛️ Estonian Plural Invested in German Nuclear Fusion Tech Company
Plural, an Estonian investment firm, increased its investment in German tech company Proxima Fusion, which is developing a stellarator fusion power plant, as part of a $21.3 million (€20 million) seed round led by Swiss VC redalpine. Proxima Fusion aims to advance nuclear fusion technology using stellarators and AI simulations to achieve stable plasma for sustainable energy production. With the new investment, the company plans to expand its team partnerships and begin building fusion power plants across Europe. [Source: BalticVC]
🚀 Lithuanian Space Tech Raised $811K in Investment
Blackswan Space, a Vilnius-based space tech firm, secured around $811,000 (€760,000) in a pre-seed round led by ScaleWolf, along with participation from Baltic Sandbox Ventures, Lemonade Stand, and industry experts. Founded in 2019, Blackswan specializes in software products for complex space and defense missions, including a mission design simulator and a vision-based navigation system. The company plans to use the investment to expand its engineering team and scale commercial activities. [Source: BalticVC]
💵 Lithuania-founded FinTech Startup Raised $9.8M from Taiwania Capital
London-based fintech firm TransferGo, founded by Lithuanian entrepreneurs, raised around $9.8 million (€9.2 million) from Taiwania Capital, valuing the company at $588.2 million (€551.2 million). Founded in 2012, TransferGo facilitates global money transfers for both personal and business accounts, operating with 22 currencies across 47 countries. It plans to expand into the Asian Pacific region using the investment. [Source: BalticVC]
🌐 Estonian Startup Wise Guys Invested in Spanish Cybersecurity Startup
Startup Wise Guys, an Estonian accelerator, backed Spanish cybersecurity solution Nymiz in a $2.6 million (€2.5 million) round led by Swanlaab, with participation from French and Spanish investors. Nymiz’s AI-powered software anonymizes personal data in corporate documents, aiming to expand its reach across Europe, Latin America, and the US with the investment. [Source: BalticVC]
⚗️Estonian Metaplanet Fund Invested in US-based AI-powered Startup
Metaplanet, led by Skype’s founder Jaan Tallinn, invested in Utah-based AI startup Leash Bio, which secured approximately $ 9.1 million (€8.6 million) in a seed round led by Springtide Ventures. Founded in 2021, Leash Biosciences utilizes machine learning to revolutionize drug discovery by generating vast datasets and training ML models to predict effective drug-protein interactions. With the new investment, the company plans to develop a machine-learning model for medicinal chemistry and advance internal therapeutic programs, alongside launching a Kaggle competition to address challenges in drug discovery. [Source: BalticVC]
🚗 Estonian Ride-Hailing Platform Appointed New CEO
Forus, an Estonian ride-hailing platform, appointed Loukas Tzitzis as its new CEO, while Eduard Dubrovski transitioned to chief operations manager. Tzitzis, with extensive experience in technology companies across Estonia, Israel, the UK, and Russia, aims to expand Forus into new markets beyond its current operations in Estonia, Latvia, Lithuania, Malta, Spain, Tunisia, and Georgia. [Source: BalticVC]
KAZAKHSTAN
📡 SpaceLab Entered Top 5 Space Startups in Palo Alto
SpaceLab, a Kazakh company specializing in natural disaster prevention solutions, earned recognition as one of the top 15 space startups in California and the top five in Palo Alto by the global F6s community, as reported by Astana Hub. [Source: Digital Business]
🔥 Scalerator Acceleration Program Enrollment is Open
Astana Hub announced the opening of enrollment for a new stream of the Scalerator acceleration program, targeting IT startups aiming to expand their export activities. The program, starting on May 20, offers expert guidance, tools, and assistance in launching products in various global markets, including MENA, CIS, Southeast Asia, Europe, and the USA, and is available exclusively to Astana Hub residents with products at the Product-Market Fit or Scale stage. Those interested can register here. [Source: Digital Business]
⛓️First Blockchain in Central Asia Launched by iDos Games
iDos Games introduced its own blockchain, iDos Games Chain, offering developers and users in Kazakhstan and Central Asia a platform to create mobile blockchain games. Founder Aidos Ryskeldinov highlights the launch as a milestone for the region’s blockchain industry, anticipating its significant impact on development. [Source: Digital Business]
🆕 A New Regional IT Hub Opened in Aktau
The launch of Mangystau Hub in Aktau marks the 13th regional technology park managed by Astana Hub as part of President Kassym-Jomart Tokayev’s initiative to expand the innovation ecosystem. Daniya Akhmetova, Managing Director of Astana Hub, highlighted the crucial role of regional hubs in supporting the IT sector’s growth, emphasizing their function as catalysts for local startups, entrepreneurs, and professionals, providing access to educational programs, networking, investment, and technology resources. [Source: Profit]
💬 Silkroad Innovation Hub Attended Asia Business Conference
The Asia Business Conference convened entrepreneurs and professionals interested in Asian business development, featuring speakers from prominent technology companies like Cisco, TikTok, and Google, alongside representatives from leading venture capital funds and universities. A panel session on “Emerging Tech and Entrepreneurship in Central Eurasia” highlighted discussions on artificial intelligence and large language models, led by industry leaders including Aset Abdualiev of Silkroad Innovation Hub, emphasized the mission to foster startup communities and drive innovation in Central Eurasia on a global scale. [Source: Profit]
UZBEKISTAN
📈 IT Park Welcomed 37 New Export Companies in March
In March, 37 new export-oriented companies, including 19 with foreign capital, joined IT Park. They plan to create over 1,150 new jobs and export products and services worth more than $10 million to markets including the USA, Europe, UAE, and CIS countries. Among the new residents are Japanese firms Toybeez and H and K Group, focusing on software development and maintenance, highlighting the park’s growing international presence and contribution to economic growth. [Source: Spot]
AUSTRIA
💰WeAreDevelopers Community Received 7-figure Investment
Round2 Capital, a European investment firm based in Vienna and London, has announced a significant investment in WeAreDevelopers, a developer community dedicated to empowering tech talents in Europe. The funding, which remains undisclosed but is described as a 7-figure investment, will fuel the market expansion of the community into the Netherlands and the UK. [Source: ain.capital]
CZECH REPUBLIC
🩺 ZAKA VC Invested in a US-based BioTech Startup
ZAKA VC, a Czech venture capital firm, has made an undisclosed investment in Lime Therapeutics to support the development of lipid-targeting medicines for cancer, cardiometabolic diseases, and neurodegenerative disorders. Lime Therapeutics leverages its LipidSenseTM technology to identify potential drugs that can alter lipid biology, promising novel therapeutic approaches with rapid measurement capabilities. [Source: ain.capital]
BULGARIA
🛍️ E-commerce Startup Acquired by Shop Circle
Rush, a Sofia-based e-commerce tech startup, has been acquired by Shop Circle, with the transition expected to take several months to fully implement the new strategy. Founded in 2019, Rush offers a SaaS solution for order tracking and notifications, aiming to transform shipment tracking pages into marketing opportunities for e-commerce businesses. The acquisition by London-based Shop Circle signals a new chapter for Rush as it seeks to expand its reach and offerings in the market further. [Source: ain.capital]
HUNGARY
💰Interactive Venture Partners Launched a New $53M Fund
US-based Interactive Venture Partners has launched its inaugural $53 million (€50 million) fund, Interactive Venture Partners Fund LP, backed by the family office of Thomas Peterffy, focusing on pre-seed, seed, and Series A startups in CEE. Based in the US with a Budapest team, the fund emphasizes technology-based differentiation and offers founder-friendly terms, mentoring, and access to an international network. Interactive Venture Partners aims to support startups in accessing larger markets and building a robust CEE startup ecosystem. [Source: ain.capital]
📱Captiwate Raised $600K in Fresh FundingCaptiwate, based in Budapest and San Francisco, has secured a $600,000 funding round with participation from Interactive Venture Partners, Oktogon Ventures, Fiedler Capital, Cloudbreak VC, and several angel investors. Founded in 2024, Captiwate offers live user activity insights for engaging website visitors through chat and video calls, targeting startups and service providers with a focus on business customers, and plans to launch its product on the market in May. [Source: ain.capital]
Daria Solovieva
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