Capital Weekly: 16.09 / 20.09

This is the list of the most notable startup deals made across the Central and Eastern European region that our editorial office featured on the AIN daily newsletter:

Investments

Poland's Development Financial Institution, PFR Ventures, invested in four Polish early-stage venture capital funds: 24Ventures, Digital Ocean Ventures Starter, Hard2beat, and Tar Heel Capital Pathfinder, with a total value of the investment exceeding PLN 250 million (€47 million). The investment is part of the European Funds for a Modern Economy program.

BlackPeak Capital announced its investment in Security Smart Systems, a leading Bulgarian electronics manufacturing services company. The total round amounted to €8 million.

Finnish deeptech startup QMill raised €4 million in seed investment from Kvanted, Maki.vc, and Antler. The company has also secured a €1 million grant from Business Finland. QMill will use the money to develop quantum algorithms that solve current industrial challenges.

Ukrainian defence tech startup Swarmer, which specialises in automated solutions for coordinated groups of drones, closed $2.7 million seed funding round. It was led by the US defence technology company R-G.AI, with active participation from Radius Capital. Green Flag Ventures and D3 Venture Capital Fund.

Turneo, an emerging travel digital start-up specialising in experience hospitality, closed €2 million seed funding round led by Bessemer Venture Partners, with participation from Romanian Underline Ventures. The funding will help Turneo accelerate its mission to change hospitality by allowing the world's finest hotels to provide excellent in-destination activities to its customers.

In coinvestment with Simpact Ventures, AIP Seed announced its financing of Stimy AI. It develops a platform offering advanced AI solutions to complex problems, personalised learning, and 24/7 accessibility through a maths chatbot and engaging puzzles. The pre-seed round worth $337,000 will fuel the startup’s ambitious growth plans.

Satim, a Krakow-based AI technology company specializing in object detection and classification using Synthetic Aperture Radar (SAR) satellite imagery, secured an internal funding round led by Balnord. The deal highlights Satim’s rapid progress and solidifies its place on the dual-use market.

MX Labs, a healthtech AI startup based in Tallinn, Estonia, secured a fresh investment round. The Czech fund Tilia Impact Ventures led the round joined by Superhero Capital and Simpact Ventures. Unfortunately, the investors did not disclose the amount of financing.

Acquisitions

ōURA, a Finnish healthtech company, acquired Veri, a Helsinki-based startup creating the name-brand metabolic health solution. Veri's founding partners and a significant portion of the team will become employees of ōURA.

You can always get more details about the deals at AIN.