ProCEEd #64 > Sonarworks raises €700K, Allegro for sale, fintech in emerging markets

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Hello, and welcome to today’s edition of the ProCEEd > Newsletter!

Things seem to be slowing down on the CEE tech scene before the summer hiatus a.k.a. August. However, there’s still news to catch up with: funding deals, startup announcements, and policy changes require constant attention from us.

Scroll down to check out what’s happened in Central and Eastern Europe over the last seven days.

Enjoy reading, and have a good week!


Latvian audio technology startup Sonarworks has secured €700,000 in funding

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With 10M downloads on iOS, Russian-made Prisma now lets Android users turn their photos into works of art

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Startups & Ecosystems

  • With 10M downloads on iOS, Russian-made Prisma now lets Android users turn their photos into works of art
  • Estonian Buildit Accelerator is preparing a new programme this autumn focusing mainly on hardware and creative industries startups
  • Belarusian IT entrepreneur Yuri Gurski and Ukrainian gamedev businessman Maxim Slobodyanyuk have launched Varaig, a tech competition with the aim to find strong startups
  • Estonian startup Shipitwise removes the hassle from shipping personal goods
  • Latvia’s development finance institution Altum has allocated an additional €1.5 million to the risk capital fund Imprimatur Capital Seed Fund
  • Capsulink: Links saving tool from Latvia
  • Ukrainian-founded lunch preorder startup Allset is now available on Facebook Messenger
  • Russia’s Oco has graduated from Angelpad, and will receive $50,000 from the accelerator and a $100,000 grant from Amazon
  • Latvian audio technology startup Sonarworks has secured €700,000 in funding

Funding Rounds and M&A

  • Russian VC fund Sistema Asia has participated in a $10 million round in Qwikcilver
  • Russia’s Phystech Ventures has participated in funding rounds in Teamie and Tortuga Logic
  • Russia’s Nimb has raised around $240,000 on Kickstarter
  • Yelitsy, Russian social network for Orthodox Christians, has raised $1 million from unnamed angel investors

Bigger Companies

  • Yandex is planning to enter the Baltic countries, Kazakhstan, and Georgia with its taxi-hailing app Yandex.Taxi
  • Ukrainian cybersports club Natus Vincere (Na’Vi) has partly sold its assets to ESforce for $10 million
  • Yandex has announced its second quarter 2016 financial results
  • Alibaba, eBay, CVC allegedly bid for Polish auction site Allegro

Governments and Policy

  • Ukraine’s first crop of cybercops have entered the ranks of the National Police
  • Moscow City Hall has announced the launch of its own version of online game “Pokemon Go” with historical figures
  • Chernobyl site could be rebuilt as a massive solar farm
  • Cyber threats prompt Estonia to set up a UK data centre

Long Reads


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