CEE startups funding report: €2B over 242 investments in Q2 of 2022

Although the European startup scene is dwindling this year, the CEE region doesn’t hold back. The startups in this region are only growing, and the number of investment rounds has almost doubled compared to the same period in 2021.

The Warsaw-based matchmaking platform for startups and investors, Vestbee, has prepared the CEE startups funding report for Q2 of 2022. AIN.Capital shares key points.

• During the second quarter of 2022, as many as 242 funding rounds were closed (only 205 have been fully disclosed in terms of amount, month, participating investors, and company details), which is nine investments more than 233 closed in Q1.
  • In April, the startups collectively secured over €570 million in funding over 68 rounds.
  • Over €900 million raised over 73 funding rounds in May.
  • In June, more than €530 million raised in 64 investment rounds.
• Total funding in Q2 2022 reached just over €2 billion. It is €400 million more compared to Q1 2022 and nearly €1 billion more than in Q2 2021.

According to Crunchbase, though the Q2 2022 funding in Europe plummeted to $23.7 billion — down by 38% in comparison to $38 billion in Q2 last year, the CEE startup scene is increasingly growing.

• The countries having the majority of funding on their part are:
  • Poland — closed 93 rounds with a total of over €230 million in funding.
  • Czech Republic — closed 37 rounds with over €540 million.
  • Estonia — closed 28 rounds with around €100 million.
• Though Poland topped the chart by the number of funding, Croatia was leading in terms of the investment volume, which exceeded €620M in Q2 2022.
• The biggest investment rounds belong to:
  • €500 million in Series D was raised by Rimac Group, a Croatian global automotive manufacturer.
  • €220 million in Series D was closed by Rohlik, a Czech innovative grocery delivery startup.
  • €142 million in venture round secured by Ataccama, a Czech global software company.
  • €92 million in venture round raised by Nord Security, a Lithuanian cybersecurity firm.
  • €90 million in Series B was acquired by SEON, a Hungarian fraud detection API.

• Among the most active investors during Q2 were Change Ventures, MITON, Geek Ventures, Hiventures, Movens Capital, Nation 1, Startup Wise Guys, Credo Ventures, and DEPO Ventures. Shortly they were followed by Early Game Ventures, EEC Ventures, Hoxton Ventures, Khosla Ventures, Presto Ventures, Purple Ventures, and SMOK Ventures.
• The most popular industries grabbing investors’ attention were Automotive, Delivery Services, and E-commerce. However, Financial Services, AI, and Data & Analytics remained in the investment circle.

More about the Baltic startup scene performance in the first four months of 2022 you can read in a report AIN.Capital published earlier: