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 deals & news
Estonian Katana, acloud-based inventory management platform for SMBs selling physical products across multiple channels, has secured a €14 million Series B funding round. The round was led by Cogito Capital Partners, with participation from Fenton/Greer Family Trust and existing investors.
Greek Mind The Hack, a cybersecurity startup, has raised €2.8 million in a funding round led by DEEP CAPITAL GROUP, founded by Dimitris Maris, co-founder of Kaizen Gaming.
Boost.space, a Czech startup building an AI-powered data centralization platform, has raised €3 million to expand into the U.S. and enhance its platform. The round was led by Jet Investment, with backing from Tachles VC, Tagrose, and existing investors.
Luna Robotics, a Lithuanian defense tech startup developing tactical FPV drone cameras, has secured a €1 million investment. The round was supported by Coinvest Capital, Plug & Play, and angel investors from LatBAN (Latvia) and NGL (Lithuania). The news was announced by Justinas Pasys, founder of NGL Ventures, on LinkedIn.
Vilnius-based cybersecurity startup CBRX has secured €540,000 in pre-seed funding to advance its cloud-based cybersecurity platform and expand its presence across the European Union. The round saw participation from Coinvest Capital, as well as Scalewolf, Plug and Play Tech Centre, and Firstpick.
At the Tallinn Digital Summit, Estonia and Ukraine signed a partnership memorandum to boost cooperation in digital innovation. The agreement includes creating a joint AI Accelerator and an AI sandbox for testing public-sector technologies. It also covers EdTech initiatives like AI tutors, collaboration in NATO’s Locked Shields cyber exercises, and advancing post-quantum cryptography to secure state data.
Diaspora with CEE founders
Paris-based Phagos, with a Greek cofounder at its helm, has raised €25 million in a Series A round, four years after its founding. The round was co-led by CapAgro, Hoxton Ventures, CapHorn, and Demeter, with additional participation from Acurio Ventures, Citizen Capital, Entrepreneurs First, Founders Capital, and Station F.
Greek-cofounded stablecoin payments startup Coinflow has closed a €21.52 million Series A funding round led by Pantera Capital as it seeks to scale its global payments network and compete with traditional cross-border payment systems.
Flexkeeping, backed by ZAKA VC, has been acquired by hospitality tech unicorn Mews, marking ZAKA’s first portfolio company to achieve unicorn status.
