Tech Updates Dec. 11: Latvian VC Backs a US Biotech Startup Fighting Inflammatory Diseases


🦠 Latvian VC Invested in a US Biotech Startup Fighting Inflammatory Diseases

Latvian LongeVC joined a $3M seed round in US-based Interface Biosciences, specializing in inflammatory disease treatments. Founded in 2020 by Stanford alumni, Interface utilizes AI to identify microbial metabolites for immune system modulation, aiming to develop novel therapies. LongeVC, backing biotech early and seed stage startups with a €35M fund across the US and Europe, supports Interface’s research expansion, having previously invested in innovative health-focused ventures. [Source: BalticVC]

🌿 Estonian Carbon Nanomaterials Producer Raised $4.3M

UP Catalyst, an Estonian carbon nanomaterial producer, raised $4.3 million (€4 million) from investors including Little Green Fund, SmartCap, Sunly, and Extantia Capital to build an industrial pilot reactor for converting CO2 into carbon materials. Established in 2019, the company specializes in eco-friendly graphite for electric car batteries and carbon-negative concrete to reduce construction-related carbon emissions, aiming to power millions of cars with green batteries by 2030. This funding supplements prior grants received from programs like the Green ICT initiative and support from entities like EIT Manufacturing and Enterprise Estonia. [Source: BalticVC]

💰Estonian Blockchain Platform Raised $15M from Qatar Investment Firm

QANplatform, an Estonian blockchain firm, raised $15 million from Qatar-based MBK Holding, led by Sheikh Mansoor Bin Khalifa Al-Thani, aiming to enhance its quantum-resistant Layer 1 blockchain. Established in 2019 in Tallinn, QANplatform allows developers to create diverse blockchain solutions using various programming languages. With this investment, the company plans to bolster security measures and expand partnerships while targeting global markets like Qatar, Saudi Arabia, UAE, Turkey, and the UK. [Source: BalticVC]

🍝 Estonian Ordering Platform Raised $237K

Biteful, an Estonian ordering platform, secured $237,000 (€220,000) from Startup Wise Guys, Specialist VC, and Fiedler Capital’s Robert Hegedüs during a B2B SaaS acceleration program. Originally a marketplace for restaurants and suppliers, Biteful transformed into a simplified ordering platform allowing restaurants to order from any supplier, irrespective of their platform presence, with varying fees based on supplier size. [Source: BalticVC]

🤖 Estonian AI-Driven Real Estate Management Startup Closes Investment Round 

R8tech recently secured an undisclosed investment round from Panasonic Corporation, Encevo, and Møller Eiendom to advance globally its AI-driven real estate management platform, R8 Digital Operator. This funding aligns with R8’s mission to leverage AI, particularly R8 Jenny, for enhanced building operations and climate change mitigation in the real estate sector, fueling its international expansion and technological development. [Source:]


🦴 Biotech Startup Receives $240K in EU Grants

Medical Inventi, a Polish biotech company, secured $240,000 (€223,000) European Funds subsidy for their FlexiOss biomaterial, designed to regenerate cartilage and bone defects. Established in 2015 through collaboration with the Medical University of Lublin and private investors, Medical Inventi aims to commercialize scientific research for human health, focusing on certifying FlexiOss for medical use and subsequent commercialization. [Source:]

🤳Adtech Startup Raised $998K in Investment

Influence That Matters (ITM), a Polish adtech startup, received $998,000 (€925,000) from Arkley Brinc VC and partnered with EUVIC for business and IT support. The company developed a digital marketing tool automating biandlling and enhancing accessibility for online creators, targeting campaign standardization in a fragmented market, leveraging experience with major brands like Netflix, Coca-Cola, Nintendo, and Adidas. This funding aims to propel ITM’s development further, with nearly 4,000 digital creators already registered on the platform pre-launch. [Source:]

🌐 Polish Euvic Group Acquires a Ukrainian Company

Poland’s Euvic Group expanded its Ukrainian market presence by acquiring 7Devs, a Ukrainian software developer, as part of its strategic partnership and expansion approach. The deal’s financial details were not disclosed, marking Euvic Group’s continued investment in the region following earlier acquisitions of companies like Artkai and Exoft in 2023, signaling plans for further investments in 2024. [Source:]

⚕️Polish-American Biotech Startup Received Investment from Simpact Ventures

Simpact Ventures, a Polish investment fund, invested in Verdant Nature, a biotech company using BioSNEDS technology to revolutionize supplement absorption. Verdant Nature’s innovative technology aims to enhance nutrient absorption in dietary supplements, driving global expansion and research efforts to tackle health challenges with the new funding. This strategic investment enhances Simpact Ventures’ presence in the health sector, managing over $32 million (€30 million) in funds, and supporting impactful startups across Central and Eastern Europe and beyond. [Source:]


💵 Citix Attracted Investment From American Investor Tim Draper

Citix, an innovative technology startup from Astana Hub and a participant in the Google for Startups program, received investment from US investor Tim Draper, as reported by Astana Hub CEO Magzhan Magdiev on Facebook. [Source:]


🎮 Gaming Startup GameTree Secured $1.7M in Investment

GameTree, an American-Ukrainian gaming startup, raised $1.7 million from Corazon Capital, Full Stack Ventures, Goodwater Capital, 32-Bit Ventures, Expert DOJO, and received a grant from Overwolf. The startup launched in 2019, provides an advanced discovery app helping gamers to find new teamers, friend, and games based on their personality. The funding will aid its platform development, aiming to create inclusive gaming communities globally by offering personalized game recommendations, coordinating gameplay sessions, and expanding into B2B partnerships with the introduction of a full-fledged desktop application featuring social feeds, groups, chat features, and overlay game technology. [Source:]

🗣️AI Voice Startup Closed $1M in Pre-series A Round

Respeecher, a Ukrainian AI startup known for recreating voices for Hollywood and games, raised a $1 million pre-Series A round led by Gary Vaynerchuk, ffVC Poland, SID Venture Partners, Bad Ideas, and ICU funds. The funding will aid scaling and ethical development, focusing on projects like voice recreation for deceased actors and supporting speech-impaired patients, aiming to transform into an ethical platform. [Source:]

📱AI Startup Raised $3M in Funding

AiSDR, a Ukrainian-founded startup, secured a $3 million investment from Y Combinator, Flyer One Ventures, SID Venture, and others, intending to enhance its service features, particularly its AI-powered tool for personalized email marketing campaigns and customer meetings. Founded in 2023, AiSDR, targets B2B businesses in the USA, boasting 45 clients and aiming to expand further. [Source: TechUkraine]

🤖 Robotics Startup Raised $3.2M in Investment

Instock Inc, a Ukrainian-founded robotics startup, has secured $3.2 million in new funding, led by the Amazon Industrial Innovation Fund, boosting its Seed funding to a total of $6.2 million. Launched in May 2023, Instock pioneers a Robotics-as-a-Service (RaaS) solution for e-commerce, focusing on automated warehousing and order operations, intending to democratize the automation of storage and retrieval systems (ASRS). The company is set to launch its first production system in North America by January 2024. [Source:]


💵 Uzbekistan Attracted $4M In Venture Investment

Uzbekistan ranked second in Central Asia, attracting approximately $4 million in venture investments within six months, according to Innotechnics’ report. The region’s startups collectively secured $139 million in venture capital investments, marking a significant sixfold increase compared to the same period in 2022, with Kazakh and Uzbek startups securing 30% and 25% of the rounds, respectively.      [Source:]


🖥️ Digicust Closed a Seed Round with $1.7M of Investment

Schwechat-based Digicust, specializing in customs digitalization for freight forwarders, secured $1.7 million (€1.6 million). Founded in 2020, Digicust develops ML and AI-based systems centered around Dexter IDP, a virtual customs robot streamlining customs document processing without requiring significant changes to companies’ IT infrastructures, aiming to simplify and automate the customs process for businesses. The recent investment, including participation from undisclosed Swiss private investors, will be used toward supporting global expansion and exploring new markets. [Source:]

🩺 Viennese Fund Joins $1.39M Pre-seed Round for German HealthTech Startup

Vienna-based Fund F by Female Founders and Nina Capital co-led a $139 million (€1.3 million) pre-seed investment in RYVER.AI, a Munich health-tech startup founded in 2022. RYVER.AI specializes in generative models for medical AI developers, enabling quick, cost-effective creation of diverse synthetic test and training data that safeguards patient privacy and offers solutions suitable for startups and larger medtech and pharmaceutical companies. The funding aims to expand the AI Engineering team and support the computational costs for developing advanced generative models. [Source:]


💻 All-In-One Platform Secured $2.1M in Investment

Born Digital, a Prague-based  AI omni-channel platform, secured $2.1 million (€2 million) in funding from Seed Starter of Česká spořitelna, Erste Group, and J&T Ventures. Founded in 2019, Born Digital aims to enhance customer experience by relieving humans of repetitive tasks through its digital personas, having already served over 100 B2B clients across various sectors and processing more than 9,500,000 interactions. The investment will aid the platform’s expansion beyond the CEE region, intending to raise a Series A round in the next 18 months. [Source:]


🖥️ SaaS Platform Raised $3.2M Equity Investment

Bulgaria’s TokWise, a SaaS platform in renewable energy, raised $3.2 million (€3 million) led by Encavis and Vitosha Venture Partners. Founded in 2018, TokWise’s software bridges the gap between renewable assets and electricity markets, enabling better decision-making and portfolio management. The investment will aid TokWise in expanding into new EU markets, with Encavis offering market access, alongside renewed support from Vitosha Venture Partners. [Source:]

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