CEE Tech News 003

What’s new in the region?

The Central and Eastern Europe startup ecosystem has certainly been surfing the high tide since our last report. The past couple of weeks’ most notable mentions include a new VC fund in Greece, another exit in Romania and a number of funding rounds.

  • A new fund has opened up in Greece at the end of last month. Marathon VC, which is currently managing 8M Euro, aims to shape the Greek ecosystem by investing in seed-stage, MVP-ready startups.
  • Serbian FinTech startup CUBE receives a 1M Euro investment from South Central Ventures. This is now SCV’s biggest investment in Serbia and their eighth investment in CUBE, which is a one-stop-shop for access to both financial and digital performance of companies.
  • Runecast, a Czech/UK predictive analytics startup, raises 1.6 million euro in seed funding from Limerock Fund Manager and Credo Ventures partner, Andrej Kiska, describes the product of Runecast as ‘game-changing for VMware customers worldwide.’
  • A number of business angels from Ukraine invest 1M USD in local family locator app GeoZilla. Having more than half a million users, the safety-oriented app utilizes GPS and AI to provide the location of family members as well as pets.
  • Romanian social media platform Vooannounced its exit to the US-based Townsquared. The deal is meant to facilitate Townsquared’s efforts in aiding small businesses and financials have not yet been disclosed.
  • Two new funding rounds in the digital health space in Slovenia as Mediately raised 500K Euro from the Bulgarian investment fund LauncHub Ventures, while Parsec got 2M Euro investment from 3TS Capital Partners.

Honorable mention: Robinhood, co-founded by Bulgarian Stanford Alumni Vladimir Tenev is closing a large investment round led by DST Global which values the company at around 1.3B USD. Robinhood is currently distrupting the trading market by offering zero comission trades, something unheard of for traditional brokerages.

Stay tuned for the next news report and make sure to share with us any news that we may have missed over the last couple of weeks.

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