In the second half of 2024, Hungarian startups announced only two rounds over €1M. In comparison, in the first half of 2024, the country’s ecosystem witnessed its biggest funding round for the year, Colossyan’s Series A, totalling €20.2M.
In H2, the total disclosed amounts of funding rounds for Hungarian-founded startups was below €20M.
This article is part of the CEE funding mapping series. Please feel free to contact us if we missed something: [email protected].
Below, you can find all the reported funding rounds with disclosed amounts in Hungary for tech ventures in H2 2024:
1.PastPay
Latest round: €12M
Stage: Series A
Investors: Platina Capital, MBH Bank, Advance Global Capital, Quantic Financial Solutions, STRT Holding, and BNL Start Partners, as well as several private investors
Total funding: €18.54M
Founders: Benjamin Berényi, Bálint Réti
Vertical: Fintech
About: PastPay aims to provide B2B payment solutions and offers Buy Now, Pay Later (BNPL) services, targeted towards flexible payment terms for business transactions. The company’s future goals include the development of new B2B transaction and financing solutions across Europe.
2. Perciv AI
Latest round: €2.5M
Stage: Seed
Investors: DayOne Capital, Keen Venture Partners, Vinci Venture Capital
Total funding: €3.22M
Founders: Balazs Szekeres, Dr. Andras Palffy, Srimannarayana Baratam
Vertical: AI
About: AI-driven radar perception and radar-camera fusion technology, delivering LiDAR-like performance at a fraction of the cost.
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Other highlights & smaller rounds
The European Investment Fund (EIF) and the Hungarian National Capital Holding (NCH) have launched Impact Ventures III. It is a €40M venture capital fund focused on supporting early-stage startups and small to medium-sized enterprises (SMEs) in Hungary and Central Eastern Europe.
In October, Budapest-based Voovo, an AI-driven flashcard app aimed at transforming how students and educators interact with learning materials, raised €500,000 in a pre-seed funding round. The investment was led by the global accelerator Techstars, with participation from STRT Ventures, Peter Csillag, and Obuda Uni Venture Capital as the largest contributor.
Medalyst, a startup that aims to revolutionize the world of sports technology, has completed a successful investment round, securing an investment of €200,000. The investment round was led by Lunar Program Zrt, STRT Holding also participated in the round. Several angel investors supported Tamás Horovitz’s startup Medalyst: including Péter Csillag, founder of Starschema, Szabolcs Szakácsits from Tuxera, Manuel Roth, former JPMorgan investment banker, and Dénes Kovácsházy from Multicom Holding.
There were a couple of startups with undisclosed funding rounds, including Rotors & Cams, a company which designs and develops custom unmanned aerial vehicle (UAV) systems.
