The Recursive’s weekly roundup aims to cover key tech developments across Central and Eastern Europe, as well as the growing impact of CEE-born founders on the global stage. Take a look at the latest news in funding, startup milestones, and emerging trends tied to the region’s innovation potential.
CEE news and deals
Farseer, a Croatia-based B2B SaaS, announced a $7.2 million (€6.07 million) Series A, with AYMO Ventures leading and existing investor SQ Capital reinvesting. The round comes 18 months after the company raised $1.5 million (€1.26 million) in seed funding in February 2023.
Czech startup Navigara raised €2 million in seed funding to help companies measure the real impact of AI and development tools through data-driven engineering analytics. The round was led by Inovo VC, alongside Rockaway Ventures and QQ Capital.
Delaware-based, Lithuanian-founded, neobank Rizon has raised a €1.7 million ($2 million) pre-seed round as more people rely on global USD accounts for earnings, payments, and everyday spending. The investment comes from Market One Capital, a Polish venture capital firm focused on early-stage startups. The funding will be used to scale Rizon’s user base worldwide.
Polish transport technology startup Aleet has secured a €1 million investment. The round was backed by 15 angel investors from Lumus Investment Collective, alongside a group of industry experts and senior leaders from global AI companies, logistics platforms, and European mobility firms. The funding will accelerate the development of its next-generation fleet intelligence platform.
The Brno-based independent investor group Garage Angels has invested in Sendance, an Austrian deep-tech startup headquartered in Linz. The investment is structured as a convertible loan as part of the company’s ongoing third funding round.
Budapest-based Giggle, a staffing platform connecting blue-collar workers with shift-based employment, has raised an undisclosed funding round to fuel its expansion into the Romanian market. The round was led by OXO Labs — part of O3 Partners, a family fund of Romania’s Catalyst NXT Ventures, and headed by Peter Oszkó, former Hungarian Minister of Finance — alongside three additional investors.
Across Europe
SatVu, a UK-based thermal intelligence company that uses space data to reveal operational activity and infrastructure performance, has raised £30 million (€25.52 million), bringing its total equity funding to £60M ($80M). The round includes a strategic investment from the NATO Innovation Fund, along with the British Business Bank, Space Frontiers Fund II (managed by SPARX Asset Management), and Czech Presto Tech Horizons.
Diaspora
Databricks, with a Romanian co-founder, has completed a $5 billion funding round with an additional $2 billion in debt capacity at a $134 billion valuation. The data analytics company, co-founded by Romanian CTO, reported annualised revenue exceeding $5.4 billion for the January quarter, up 65% year over year, and said it is prepared to go public “when the time is right.”
