In 2024, venture investments in Eastern Europe reached €3.89 million across 1,286 deals. Leading countries included Turkey, Poland, Greece, and the Czech Republic, while late-stage rounds (Series A–C) accounted for 63% of total funding. Ukraine also secured notable investments, with top deals including OneNotary, Esper Bionics, and Portal AI.
How to Web & Infobip have presented their latest Venture in Eastern Europe Report showcasing dynamics of development and changes in investments in Eastern Europe for the last year. AIN shares key takeaways from the report.
Number and volume of investments
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In 2024, 1,286 venture deals added up to a total volume of €3.89 billion.
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Top countries with investment volumes of more than €100M (8 in total):
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Turkey (€1,012.2million),
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Poland (€592.1 million),
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Greece (€536.6 million),
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Czech Republic (€426 million),
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Lithuania (€367 million),
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Estonia (€342.3 million),
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Romania (€130.7 million),
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Slovakia (€129.8 million).
Read more: AI startups in Europe raised $8 billion in VC funding in 2024 – French AI Report.
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Late-stage investments led the way in 2024, with series A to C making up 63% of the total investment volume, €2.44 billion respectively.
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Meanwhile, the total volume of seed stage investment got to be head to head with the Series A deals in terms of total volume, reaching €634 million.
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Pre-seed investments were shy in 2024, having reached just €104.6 million.
Deal distribution
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In 2024, investment distribution across Eastern European countries varied, with Turkey, Poland, Greece, Czech Republic, Lithuania, Estonia, Slovakia, Romania, Cyprus, Bulgaria, Hungary, Croatia, Ukraine, and Latvia securing deals from pre-seed to Series A and beyond.
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In contrast, Serbia, North Macedonia, Moldova, Bosnia and Herzegovina, Slovenia, and Albania saw mostly pre-seed and seed investments.
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Later-stage rounds highlighted regional rising stars, including Poland’s ElevenLabs (€160 million+ Series C, €3 billion+ valuation) and Romania’s FintechOS (€54 million Series C).
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Follow-on rounds accounted for 92.8% of the €3.6 billion total investment volume, with major contributions from Turkey, Poland, Greece, the Czech Republic, Lithuania, Estonia, Slovakia, and Romania.
Top deals in Ukraine
OneNotary, a startup providing online notary services – €4.5 million, series A; investors: Jackson Square Ventures, Tom Gonser, u.ventures, DocuSign Ventures, GoodPaper Ventures, Digital Future, and The LegalTech Fund.
Esper Bionics, an engineering and technical company that manufactures bionic prosthetics – €4.5 million, series A; investors: YZR Capital.
Portal AI, a platform with AI agents for small and medium-sized businesses – €4 million, pre-seed; investors: AGI House Ventures, Amanda Schloss family office, BBQ Capital, Broocknell Ventures, Patel family office, StratMinds.
Read more: Ukrainian startups in 2024: key investments, launches, and expansions highlights
