Search for...

Top 5 Largest Funding Rounds in Hungary in H1 2023

funding rounds in hungary
Image credit: Canva
~

Like other CEE countries, Hungary is affected by the global decline of venture capital funding. In Q1 2023, seed investments in Europe declined significantly by 25%. While early-stage funding experienced a relatively smaller decrease of 7%, late-stage startups were most affected by reduced funding compared to 2022.

Hungary has also faced challenges in maintaining its progress in developing a strong ecosystem due to political and economic obstacles that slowed the country’s startup growth. Considering the investments in Hungarian startups in the first half of 2023, The Recursive now brings you a summary of the five biggest milestones.

 

This article is part of the CEE milestones mapping series. More will follow soon. Discover the 5 largest tech funding rounds of disclosed amounts in Hungary in H1 2023 up to date. Please, feel free to contact us with updates or investments we should add to the list: [email protected].

 

1. Turbine

Funding: €5.5M (round total €25.5M)

Round: Series A

Investors: MassMutual Ventures

Founders: Daniel Veres, Kristof Zsolt Szalay, Szabolcs Nagy

Vertical: Healthcare

About: Turbine develops a cell behavior simulation platform that understands the inner mechanisms of cancer, enabling the discovery of novel protein targets, precision biomarkers, and better translation to patients.

 

2. Colossyan

Funding: ~ €4.6M

Round: Series A

Investors: LAUNCHub Ventures, Emerge Education, Day One Capital, Oktogon Ventures, APX

Founder: Dominik Kovacs

Vertical: Learning & Development

About: Colossyan empowers video creation for L&D creators by using generative AI to transform text into videos, eliminating the need for cameras, studios, and traditional actors, and reducing the production time from weeks to minutes.

 

3. Talk-a-Bot

Funding: €3.5M

Round: Venture Round

Investors: Széchenyi Capital Fund Management

Founders: Akos Deliaga, Gergely Kalydi, Laszlo Papp

Vertical: Enterprise

About: Talk-A-Bot provides an AI-powered enterprise chatbot to corporate professionals, companies, and brands to automate consumer and employee communication, turning digital business conversations into secure, app-like services.

Read more:  These Are Greece’s Biggest Funding Rounds for April

 

4. Greenstic

Funding: €1.4M

Round: Venture round

Investors: Hiventures

Founders: Marton Bati, Mark Csonka

Vertical: Sustainability

About: Greenstic is a distributor and contract manufacturer of eco-friendly restaurant packaging materials, containers, and cutlery, advocating for environmentally conscious practices in the catering industry.

 

5. Proofminder

Funding: €400K

Round: Unspecified

Investors: Impact Ventures Hungary

Founders: Ambrus Vancso, Levente Simon, Norbert Havas

Vertical: Agriculture

About: Proofminder is a leaf-level farming platform that provides actionable insights to empower growers to get higher yields with fewer resources, from planting to harvesting.

Thank you for reading The Recursive!

Over 1 million people from all over the world have learned about the tech ecosystem in Central and Eastern Europe thanks to The Recursive. In order to keep our content free for everyone, we need your help. If you believe what we do is important and have the means to do so, support us in giving a voice to Central and Eastern Europe with as little as €7. Thank you!

DONATE Keep reading this article

Help us grow the emerging innovation hubs in Central and Eastern Europe

Every single contribution of yours helps us guarantee our independence and sustainable future. With your financial support, we can keep on providing constructive reporting on the developments in the region, give even more global visibility to our ecosystem, and educate the next generation of innovation journalists and content creators.

Find out more about how your donation could help us shape the story of the CEE entrepreneurial ecosystem!

One-time donation

You can also support The Recursive’s mission with a pick-any-amount, one-time donation. 👍