CEE startups funding report: €1.3B over 264 investments in Q3 of 2022
Despite the harsh geopolitical and economic climate, the CEE startups funding scene shows solid resilience. However, Q3 was the first quarter in 2022 showing a notable deviation from the growths seen earlier this year, as the amount of capital deployed resembled values witnessed at the end of 2020.
- During the third quarter of 2022, the number of funding rounds reached 264 (only 197 of them are fully disclosed in terms of amount, month, investors, and company details). The value of month-to-month investments steadily decreased.
- In July, the startups closed 75 deals, raising over €480 million.
- In August, the number dropped to 54 deals, raising nearly €340 million.
- And in September, the total number of raised investments reached 69, with just €300 million raised.
- The total value of investments in Q3 reached just above €1.3 billion, which is €0.7 billion less than in Q2 of 2022.
- Countries which managed to receive the highest number of funding rounds in Q3 are:
- Poland with 127 rounds,
- Estonia raised 34 rounds,
- Ukraine was able to secure 19 rounds.
- The largest investment rounds belong to companies:
- Cera, raising €150 million during a venture round plus €150 million in debt funding.
- Unstoppable Domains, raising €63 million during Series A round.
- Fonoa Technologies, securing €58 million in Series B funding.
- Ready Player Me, receiving €55 million in the Series B investment.
- and Bitlevex, raising €49 million in a venture round.
The list of most active VC funds in Q3 2022 included SATUS Starter, EBRD, EIC, Movens Capital, and Presto Ventures. As well as Endeavor, KAYA, LT Capital, Plural VC, Creandum, and Eleven Ventures. Also Inventure, SMOK Ventures, and Speedup Group.
The most popular industries to invest during these months were healthcare, fintech, AI, blockchain, SaaS, and energy.
You can also read more about Q2 of 2022 in the previous scene reports, also made by Vestbee, here.