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
Warsaw-based Jutro Medical, an AI-first primary care operator integrating online and offline care, has secured €24 million in fresh capital in a round led by Warsaw Equity Group (WEG). The round also saw participation from Vinci, naturalX Health Ventures, Fluent Ventures, Aternus, KAYA VC, and Inovo VC, alongside a debt component provided by mBank and Orbit Capital.
Croatian-founded GlycanAge has raised $8.7 million (€7.4 million) in a targeted funding round to accelerate the clinical development of its technology and expand access to glycan testing for clinicians worldwide. The round was led by Fifth Quarter Ventures, with participation from Guinness Ventures, BrightCap Ventures, South Central Ventures, Impetus Capital, Vesna Deep Tech VC and Lightfield Equity, alongside existing investors including LaunchHub Ventures and Kadmos Capital.
HIMERA, a Ukrainian developer of tactical communications systems, has secured more than €2.13 million ($2.5 million) in seed funding. The round attracted backing from UA1 VC, Varangians, Green Flag Ventures, Freedom Fund, along with several other investors and funds.
Katalist, Slovenian-founded startup based in San Francisco, secured €1.28 million ($1.5 million) from South Central Ventures. The company develops an AI-powered “video production operating system” that automates the end-to-end workflow, turning scripts into consistent shotlists, storyboards, and high-end video.
News with roots in the region
Digicust, an Austrian AI startup transforming the management of customs processes across global supply chains, has secured €2.3 million in pre-Series A funding. The round was backed by a lineup of investors, including Czech venture capital firms Jet Investment and Look AI Ventures. The new capital will be used to speed up product development, enhance its AI technology, and support expansion into additional markets.
PolyAI, a UK-based enterprise conversational AI company founded in 2017 with a Serbian co-founder at the helm, has secured €73.2 million ($86 million) in Series D funding to advance its technology and grow its international presence. The round was co-led by Georgian, Hedosophia, and Khosla Ventures, with additional backing from NVentures—NVIDIA’s venture capital arm—alongside Sands Capital, Squarepoint Ventures, Citi Ventures, Point72 Ventures, and a £15 million contribution from the British Business Bank.
Across Europe and the world
Lovable has raised $330 million in Series B funding at a $6.6 billion valuation, led by CapitalG and Menlo Ventures’ Anthology fund. The round includes backing from NVentures (NVIDIA’s VC arm), Salesforce Ventures, Databricks Ventures, T.Capital (Deutsche Telekom), Atlassian Ventures, HubSpot Ventures, as well as Khosla Ventures, DST Global, EQT Growth, and returning investors Accel, Creandum, and Evantic.
Databricks, a 12-year-old San Francisco company that provides data-analytics software for enterprise AI, is reportedly raising a $4+ billion Series L at a $134 billion post-money valuation as private-market demand for AI infrastructure continues to remain red hot. The San Francisco-based company also said it crossed $4.8 billion in annual revenue run rate at the end of October, up from the $4 billion it announced a few months ago.
GymBeam, the largest European e-commerce brand in the sports nutrition (D2C) segment, announces the strategic acquisition of a 100% stake in leading German food company KAJA Food. With this move, GymBeam gains its own state-of-the-art manufacturing capabilities in Germany and reinforces its ambition to become a market leader in Western Europe.
