Daria Solovieva
CZECH REPUBLIC
Czech AI Startup E2B Lands $11.5M Seed Round Led by Decibel E2B, a Czech-founded and San Francisco-based startup, has secured $11.5M in seed funding led by Decibel to develop its secure sandbox platform for AI-generated code execution. Founded in 2023, E2B has already attracted major clients like Perplexity and boasts 10,000 developers with 7 million sandbox deployments, positioning itself to become the “AWS for AI agents.” [Source: Vestbee]
DEEP TECH
EIT Digital Champions Opens 12th Call for European Deeptech Scaleups
EIT Digital Champions has launched its 12th annual competition to accelerate Europe’s leading deeptech scaleups, offering 50 finalists the opportunity to pitch to international investors. The program targets EU-based companies with minimum annual revenues of €500K or €2M in funding, focusing on digital tech, industry, cities, wellbeing, and finance sectors. [Source: Vestbee]
UKRAINE
Ukrainian Tech Entrepreneur Pivots to Defense, Launches Autonomous Drone Startups
Max Azhnyuk, a Ukrainian tech entrepreneur, has shifted focus from pet tech to military innovation with two new startups: The Fourth Law and Odd Systems. These ventures are developing advanced autonomous navigation systems for FPV drones, addressing critical defense needs in Ukraine’s ongoing conflict. Backed by personal funds and international investors, Azhnyuk’s technology has already been integrated into over 30 drone models, showcasing the adaptability of Ukrainian tech talent in response to national security challenges. [Source: TechUkraine]
Global Tech Initiative Launches to Tackle Ukraine’s Energy Crisis
The ‘Tech4Good Global Challenge #1: Energy for Ukraine’ has been launched to address the critical energy crisis in Ukraine, where over 50% of the power grid has been devastated. This month-long initiative, running from October 15th to November 15th, 2024, aims to identify, fund, and implement innovative energy solutions for Ukraine’s immediate needs while creating a blueprint for global crisis response. Led by tech industry veterans and supported by the Embassy of Ukraine in Spain, the challenge invites startups, SMEs, and individuals worldwide to contribute their innovations through the tech4goodchallenge.org platform. [Source: TechUkraine]
Ten Ukrainian Startups Secure $350,000 in Innovation Grants
Ten Ukrainian startups have been awarded a total of $350,000 in grants from the Ukrainian Startup Fund, supported by the Ukraine-Moldova American Enterprise Fund. The funding, distributed across seed and pre-seed stages, aims to fuel innovation in various sectors including AI, sustainability, and healthcare. This initiative, part of a larger $2.5 million allocation plan, showcases the resilience of Ukraine’s tech ecosystem and its continued growth despite ongoing challenges. [Source: TechUkraine]
Ukraine’s Defense Tech Boom: Brave1 Startups Secure $8M in State Grants
Ukraine’s Brave1 defense cluster has become a hotbed for innovation, with participating startups receiving $8 million in state grants. Minister of Digital Transformation Mykhailo Fedorov revealed that the platform hosts nearly 3,000 companies, 99% of which emerged after 2022. The initiative has issued 98 grants for ground drone development alone, totaling ₴91.4 million, with additional investments expected to reach $50 million by year-end from international donors, highlighting Ukraine’s rapid advancement in defense technology. [Source: Ukraine Business News]
ESTONIA
Estonian VC 2C Ventures Backs Finnish Cleantech Startup TheStorage in €1M Round Estonian venture capital firm 2C Ventures has invested in TheStorage, a Finnish cleantech startup developing sand-based thermal energy storage technology for industrial heat generation. The €1 million funding round, which also included Finnish Superhero Capital, will support TheStorage in building and testing a system with industrial customers. Founded in 2023, TheStorage’s innovative technology aims to contribute to grid stability while providing versatile heat solutions for various industrial needs. [Source: BalticVC]
Estonian VC Trind Backs Finnish Gene Testing Startup Evogenom Venture fund Trind Ventures has invested in Evogenom, a Finnish genetic testing company that offers at-home DNA analysis for wellness and health insights. The investment, which included participation from business angels, will fuel Evogenom’s international expansion and product development of its proprietary genotyping technology. [Source: BalticVC]
LATVIA
Latvian Health Tech Startup Longenesis Wins $100,000 at Global Pitch Competition Longenesis, a Latvian health tech startup, secured the top prize of $100,000 at the Supernova Challenge 2.0, the world’s largest early-stage startup pitch competition held during Expand North Star in Dubai. The event saw participation from over 1,800 startups and 1,200 investors, with AI, SaaS, and Healthcare emerging as the most represented sectors. Longenesis impressed judges with its innovative approach to accelerating treatment development and enhancing patient engagement, having already impacted over 850,000 patients across the EU and MENA regions. [Source: Labs of Latvia]
LITHUANIA
Lithuanian Health Tech Mano Daktaras Buys Review Site Pincetas Digital healthcare platform Mano Daktaras has acquired patient feedback site Pincetas.lt in a move to consolidate the country’s digital health services. The merger combines Mano Daktaras’s network of 1,100 doctors and 250 private clinics with Pincetas.lt’s 100,000-strong user base, creating an integrated platform that’s expected to reach 400,000 monthly users. [Source: BalticVC]
Lithuanian AI Startup WhiteBridge Raises $500K for Digital Identity Management Lithuanian startup WhiteBridge has secured $500K in pre-seed funding led by Firstpick accelerator, with participation from Scalewolf, First Degree Capital, and Nectolabs. Founded in February 2024, WhiteBridge uses AI to help companies and individuals manage their online reputation by consolidating digital footprints into actionable insights. [Source: BalticVC]
UZBEKISTAN
Plug and Play Partner Bullish on Uzbekistan’s Rising Startup Scene Uzbekistan’s startup ecosystem has seen remarkable growth in 2024, climbing 88 spots to rank 110th globally. Sascha Karimpour, Partner at Plug and Play, highlights the country’s strengths: a large talent pool of 125,000 annual graduates, strong government support through IT Park initiatives, and leadership in FinTech within Central Asia. The partnership between Plug and Play and IT Park Uzbekistan is helping local startups integrate into global markets, with plans to launch a dedicated FinTech program in 2025. [Source: Daryo.uz]
Buffett’s Portfolio Companies Deepen Investment in Uzbekistan’s Growth Warren Buffett’s Berkshire Hathaway is gaining significant indirect exposure to Uzbekistan through its portfolio companies’ expanding investments in the country. Half of Berkshire’s international holdings – including Sumitomo, Marubeni, Mitsubishi, and BYD – are actively investing in Uzbekistan’s energy and infrastructure sectors, with projects ranging from a $4.2B renewable energy development to BYD’s first overseas EV plant, signaling growing international confidence in the Central Asian nation’s economy. [Source: Daryo.uz]
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