The entrepreneurial spirit in Central and Eastern Europe (CEE) thrives on determination, creativity, and adaptation. This week, I was thrilled to delve into several key developments in the startup and tech ecosystems across the region that highlight the rising presence of healthtech, HR innovations, and defense-tech solutions. As a founder who's bootstrapped her startups from scratch, I find it invigorating to see how local founders engineer global solutions while dealing with unique regional challenges in funding, regulations, and innovation ecosystems.
Let’s walk through the latest movements and learnings from the CEE region, a hub that never fails to inspire.
Key Updates from the CEE Startup Scene
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Romania's Digitail Secures $23M for AI-Powered Veterinary Care
Romanian startup Digitail has raised $23 million in Series B funding. This round was led by Five Elms Capital, with substantial contributions from Atomico, Partech, and others. Digitail aims to expand its innovative AI-driven veterinary platform globally. They’re optimizing pet health management with automation, directly reflecting a trend toward personalized solutions in healthtech. For founders, this story is a masterclass in proving scalability while addressing a niche market. -
Moontop, Croatia’s Contribution to HR-Tech
Moontop’s €2.7 million funding success, led by SQ Capital, shows how adaptable HR tech can be. Their employee benefits app empowers employers to offer flexibility around workplace perks. This aligns perfectly with the global transition towards employee-centric strategies. For European founders, the takeaway lies in recognizing shifts in workplace culture and leveraging them to create impactful SaaS tools. -
Lithuania’s Self.co Makes Waves with Health-Focused Diagnostics
With €2.56 million raised, including significant public funding from Innovation Agency Lithuania, Self.co is transforming food intolerance and allergy diagnostics. For women entrepreneurs building products around health, this exemplifies how combining private investment with public grants can jumpstart innovative projects aimed at improving well-being. -
Poland and Ukraine Emerging as Defense-Tech Innovators
National security is coming to the fore, placing countries like Poland and Ukraine on the map with advanced defense-tech initiatives. In Ukraine, a collaboration between Defence Builder and Finland's 17Tech aims to enhance dual-use innovation. Meanwhile, Poland continues to benefit from investment hubs like Rockaway Ventures, which focuses on transformative defense technologies. Women founders in tech can learn here the importance of spotting opportunities in fast-emerging, high-need industries. -
Hungary's MeOut Group Acquires EU-Startups
In an exciting media sector development, Hungary’s MeOut Group has acquired EU-Startups. This strengthens their community ties and amplifies their visibility across the continent. As someone who’s built an international community around my non-profit initiatives, I admire how growth and connections across borders can elevate a company. Collaboration truly is a force multiplier.
Practical Guide for Budding Entrepreneurs
To all women founders and independent entrepreneurs across Europe, consider the lessons from these stories for your own ventures:
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Start Small but Think Globally
Digitail started with a very narrow focus, veterinary operations, but proved its global scalability. Validate locally, then scale globally. -
Combine Funding Avenues
Public agencies like Innovation Agency Lithuania can play an integral role in financing innovative projects, as seen with Self.co. Don’t overlook local grant programs, they're often unaware of the groundbreaking ideas they could support. -
Don’t Fear Niche Markets
Moontop entered the niche HR-tech market with a product that solves everyday problems, specifically targeting employee priorities. As founders often fear niching down, I encourage you to embrace clarity of solutions over trying to cater to everyone. -
Focus on Partnerships and Acquisitions
MeOut's acquisition of EU-Startups shows that M&A isn't just for big corporations. Smaller organizations can collaborate or buy other ventures to expand their reach or enter new markets. -
Stay Resilient in the Face of Regulation
CEE startups must often adapt to fluctuating EU regulations. For instance, ongoing conversations about delays in the EU's AI Act show that businesses must remain flexible. One lesson? Build compliance into your roadmap early so you can pivot when needed.
Common Traps to Avoid
Mistakes might cost you time and money, but they’re valuable when you can learn and avoid repeating them. Here’s what to skip:
- Ignoring Global Trends – Don’t build solutions that only serve local needs if globalization fits your model.
- Underestimating Regulation – Stay informed about policies like the EU AI Act, which may directly affect your go-to-market strategy.
- Overlooking Collaboration – Building alliances or acquisitions requires trust and mutual gains, but it can transform your growth opportunities.
- Skipping Market Testing – Before scaling like Digitail, test your prototype or pilot your product in a focused setting.
How Women Founders Can Stand Out
As a female entrepreneur in Europe, I know all too well the challenges of funding, networking, and scaling. But here’s how you can navigate:
- Seek Regional VCs: Funds like Vinci S.A. and APEX Ventures are putting their weight behind diverse, science-backed and HR-related CEE startups, showing a clear appetite for fresh perspectives, particularly in promising industries like health and defense.
- Engage in the Community: Connectivity boosts visibility. Follow initiatives like the acquisition of EU-Startups by Hungary’s MeOut Group as an example of consolidating presence across borders.
- Educate Yourself: From the EU's regulatory approach to the latest trends, continuous learning will remain your biggest advantage. Start with organizations such as SeedBlink.
Final Thoughts
The CEE region is redefining startup norms in health, HR, and defense-tech. From small companies like Moontop, tackling human-focused innovation, to transformative partnerships like Ukraine's defense-tech partnerships, the growth is palpable. For European female entrepreneurs, the advice is simple, look for gaps, tap into regional support, and don’t shy away from collaboration or higher-risk industries. Being bold isn’t a luxury in today’s world, it’s a necessity for progress.
As someone who’s bootstrapped her own way forward, I know that not every story is a multimillion-dollar funding round. Yet, we all grow by learning from what works and what doesn’t. Grab every opportunity, own your space, and let’s continue to build the kind of future we want to see.
FAQ
1. What is the latest funding success story from Romania in healthtech?
Romanian startup Digitail recently raised $23 million in Series B funding to expand its AI-powered veterinary care platform globally, showcasing a strong trend towards personalized solutions in healthtech. Read more about Digitail's funding success
2. How is Croatia contributing to HR-tech innovation?
Croatia-based Moontop secured €2.7 million in funding to develop its employee benefits app, enabling flexible workplace perks for employees and showcasing adaptability in HR solutions. Learn more about Moontop’s HR-tech innovation
3. What is Self.co doing in the field of health diagnostics?
Lithuanian startup Self.co has raised €2.56 million to transform food intolerance and allergy diagnostics by fusing private investment with public grants to fund health-focused technologies. Find out more about Self.co’s diagnostics solutions
4. What recent acquisition has strengthened startup community media in Europe?
Hungary's MeOut Group has acquired EU-Startups, creating stronger community ties and amplifying its visibility across Europe. Explore MeOut Group’s acquisition of EU-Startups
5. How are Poland and Ukraine advancing in defense-tech?
Poland and Ukraine are emerging as innovators in defense-tech. Notably, Ukraine’s Defence Builder is collaborating with Finland’s 17Tech to enhance dual-use innovation. Learn more about the Defence Builder and 17Tech partnership
6. What lessons can entrepreneurs learn from Digitail's success?
Digitail’s journey teaches the importance of starting with a narrow focus, proving scalability, and addressing niche markets while expanding globally. Learn from Digitail’s approach
7. What role does public funding play in CEE startup success?
Public funding can significantly boost startups, as seen with Self.co’s combination of private investment and government grants from Innovation Agency Lithuania. Discover more about public-private funding partnerships
8. How is regional collaboration influencing CEE startups?
Acquisitions like Hungary's MeOut Group and Israeli collaboration efforts demonstrate the power of partnerships to expand markets and visibility. Explore how CEE startups are leveraging collaborations
9. How can startups stay ahead of regulatory challenges in the EU?
By embedding compliance into their roadmaps early, startups can adapt to changes like the ongoing discussions around the EU's AI Act. Read more about the EU AI Act’s delays
10. What industries are gaining traction among CEE investors?
Central and Eastern European investors are heavily backing healthtech, HR-tech, and defense-tech, indicating a regional pivot towards high-need and innovation-driven sectors. Check out more on CEE's rising industries
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
