Halfway through 2023 and following the global trends of economic downturn and more cautious investments, ecosystems are recording a decline in startup funding. In the first quarter, European startups secured a funding total of $10.6 billion, experiencing an 18% decrease compared to the previous quarter and a significant 66% drop from the same period last year.
However, according to available sources, the Czech Republic also recorded over three dozen new funding rounds despite the trends. The Recursive now brings you an overview of the largest Czech Republic funding rounds in 2023.
This article is part of the CEE milestones mapping series. More will follow soon. Discover the 10 largest tech funding rounds of disclosed amounts in the Czech Republic in H1 2023 up to date. Please, feel free to contact us with updates or investments we should add to the list: [email protected]
Top 10 Czech Republic funding rounds: H1 2023
Round: Series A
Investors: The Westly Group, Fifth Wall, KAYA VC, Inven Capital, ArcTern Ventures
Vertical: Energy tech
About: Woltair specializes in selling, installing, and servicing power and heat solutions, including heat pumps and photovoltaics, in Europe. Founded in 2018, Woltair belongs to one of the most notable Czech startups.
2. Neuron Soundware
Funding: ~ €6.7M
Investors: Technology Agency of Czech Republic, Horizon 2020
About: Neuron Soundware is an AI and IoT deep tech startup using audio analysis to identify machine malfunctions. Their detection system identifies failures and abnormal machine behaviors through sensor-based audio data collection and automated evaluation to prevent production disruptions.
Round: Venture round
Investors: Lead Ventures, Credo Ventures, Sofia Angels Ventures
About: The London and Prague-based startup GoodVision enables transport surveyors and modelers to significantly boost their traffic data analytics productivity. Their B2B SaaS platform automates traffic data collection from the current camera infrastructure. It offers deep traffic analytics for the precise calibration of traffic models.
Investors: European Innovation Council
Founders: Petr Baca
About: MIWA provides a comprehensive retail solution focusing on sustainably selling goods by minimizing single-use packaging. Their approach centers around a circular economy strategy that utilizes smart technology and reusable containers.
5. Filuta AI
Funding: ~ €2.4M
Investors: Nation 1, European Innovation Council, SPM Invest, Czech Founders VC
Vertical: Industry-agnostic – AI automation
About: Filuta is a B2B SaaS platform that empowers the development of Composite AI solutions using self-supervised learning and automatic symbolic domain synthesis techniques. It oversees and handles intelligent automation services throughout the entire life cycle.
Investors: Nation 1, Purple Ventures, RSJ, Leoš Navrátil
About: Startup Hedepy is a health application that offers remote, accessible, convenient, and unbiased psychotherapy services to individuals through video calls.
7. Product Fruits
Investors: Leverage, Venture to Future Fund, Lighthouse Ventures
Investors: Soulmate Ventures, Reflex Capital, Purple Ventures, MITON
About: The health tech startup VOS presents a personal well-being AI-powered mental health and community-based platform providing quality, science-based educational content, and support. The startup also developed a B2B version for organizations to promote employee well-being at the workplace.
Funding: ~ €1.3M
Investors: Nation 1, Fazole Ventures
About: GoodAccess is a cybersecurity platform that enables businesses to effortlessly enjoy zero trust’s security advantages. Working as a cloud VPN, the startup allows users to securely connect to digital resources whenever and wherever they need to.
Investors: ZAKA VC, Zero Gravity Capital, DEPO Ventures
About: Readmio is a storytelling app for kids that enhances the reading experience by adding appropriate sounds using voice recognition technology. The startup provides over 200 stories in English, Czech, and Slovak languages.