180 VC-backed Healthcare Startups from Central and Eastern Europe
~€70M funding for 55 healthcare startups in 2023
The fundraising environment is harsh for later stage companies, especially in the CEE region
2023 is difficult in the startup land. Global VC funding plummeted by 42% YoY from $426B to $248B. The situation is no different in the CEE region. According to estimates from Vestbee, around EUR 2B was invested in ~1000 startups in our region in 2023, down from EUR 6.5B in 2022. However the number of transactions is pretty stable, which means that we see the similar number of Pre-Seed / Seed rounds, and lower number of later stage financing.
2023: ~€70m funding for 55 CEE healthcare startups
In terms of number of transactions, healthtech makes up ~5% of the whole landscape. Looking at the healthcare rounds announced in 2023, we can clearly see that the same observation is true as for the general ecosystem: almost all of them are at Pre-Seed and Seed stage. Hopefully 2024 will bring us later stage rounds like the recently announced $21M Series A by Romanian-founded Ezra.
All 2023 healthcare startup financing rounds in the CEE region:
Healthcare ecosystem in CEE is strong, especially in Poland
More than 180 startups have raised VC/angel money since 2020. Almost half of them originate in Poland, where health amounts to 15% of all transactions.
Is your startup missing? Add it!
You can do this via filling in this form or reaching out on Linkedin to Kris, Investor @ Inovo.vc
Are you looking for Seed funding for you Healthcare Startup? Get in touch with us!
Inovo.vc backs early-stage, post-traction startups that can grow 100x. We invest between €0.5–4m in startups from Poland and the CEE region. Our Healthcare porfolio includes startups like Infermedica, Jutro Medical, uPacjenta (Lably), Index Clinic, Evidose, Embla, Pupilmed, and Mindly. Inovo is one of the most active VC in the region: we invested in 11 startups in 2023.
For more information visit: inovo.vc
