Despite the economic challenges in recent years, the startup ecosystem in Greece maintains a strong investment flow, yet with a decrease of 24.5% in 2023. Series A and B stages were predominant, showcasing the resilience of the tech and innovation sector. Moreover, Greece was the country that contributed to almost 40% of the top 20 venture capital deals in 2023 in Eastern Europe, dedicating €351.8M to various companies.
In 2024, to date, startups with Greek founders or HQ raised more than €400M. As listed below, the ecosystem witnessed 4 Series A, 1 Series B, 1 Series D and a number of early or late-stage transactions.
In this article, we will deep dive into the biggest funding rounds that influenced the Greek startup landscape. If parts of the information are incorrect or incomplete, please let us know at [email protected].
Biggest funding rounds in Greece in H1 2024
1. Blueground
Latest round: €42M
Stage: Series D
Total funding: €273M
Investors: Susquehanna Private Equity Investments, WestCap, Barclays, Morgan Stanley, Deutsche Bank and HSBC
Founder: Alexandros Chatzieleftheriou
Vertical: PropTech
About: Blueground offers fully-furnished homes with on-the-ground support for business travel needs.
2. Hellas Direct
Latest round: €30M
Stage: Late VC
Total funding: €90M
Investors: ETF Partners, 5G Ventures
Founders: Alexis Pantazis and Emilios Markou
Vertical: FinTech
About: An online car insurance company providing competitive prices.
3. Plum
Latest round: €19M
Stage: Series B
Total funding: €63M
Investors: iGrow Venture Capital, Venture Friends and Ventura Capital
Founder: Victor Trokoudes
Vertical: FinTech
About: Plum supports people on their financial journey and gives them the tools to manage, save and invest their money.
4. Kinvent
Latest round: €16M
Stage: Late VC
Total funding: €23M
Investors: Eurazeo, Uni.Fund, Sofilaro, BADGE, and Raphaël Varane
Founder: Athanase Kollias
Vertical: MedTech
About: Devices that measure force, balance, and range of motion through a single application.
5. Harbor Labs
Latest round: €14.7M
Stage: Series A
Total funding: €21M
Investors: Endeavor Catalyst, VC TMV, Notion Capital, Venture Friends, SpeedInvest and The Dock
Founder: Antonis Malaxianakis
Vertical: Maritime
About: Platform for shipowners, management companies and charterers aiming to improve operational efficiencies.
6. Kaedim
Latest round: €14M
Stage: Series A
Total funding: €14.6M
Investors: A16Z (Andreessen Horowitz), Scott Gelb, Nate Mitchell, Eden Chen, Siqi Chen, and Sterling Snow
Founders: Konstantina Psoma and Roman Bromidge
Vertical: AI/ML
About: Tool that turns 2D art into 3D content.
7. StiQ
Latest round: €10M
Stage: Early VC
Total funding: €10M
Investors: N/A
Founders: Konstantinos Davaris, Nikos Theodoropoulos
Vertical: SaaS
About: Platform leveraging the cloud kitchen model for food brands.
8. Brite Solar
Latest round: €8.6M
Stage: Series A
Total funding: €15.8M
Investors: NEP (New Energy Partners), EIC Fund, Brace Agri Solar Holdings and Deep Investments Limited
Founder: Nick Kanopoulos
Vertical: ClimateTech
About: Nanomaterials company delivering a new class of glass materials for building construction.
9. WeatherXM
Latest round: €7.1M
Stage: Series A
Total funding: €11.8M
Investors: Protocol Labs, Juan Benet, Placeholder, Alumni Ventures, DLab, Borderless Capital, GS Futures, Arca, MetaPlanet, ConsenSys Mesh, Redbeard Ventures, Faction, Westerly Ventures
Founder: Stratos Theodorou
Vertical: IoT
About: A community powered weather network that rewards weather station owners and offers accurate weather services.
10. Finloup
Latest round: €1M
Stage: Seed
Total funding: €2M
Investors: Velocity Partners, Genesis Venture and Praxia Capital
Founders: Antonis Prentzas and Marios Noutsos
Vertical: FinTech
About: Platform for renting electronic devices.
