ProCEEd #65 > Skeleton Technologies raises €13M, Galactic Exchange comes out of stealth, Petcube hits its crowdfunding goal

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Welcome to the latest edition of the ProCEEd > Newsletter.

Today’s issue has a number of positive news stories on startups and bigger companies, but I’d like to draw your attention to a negative one. Just yesterday, TechCrunch’s John Biggs ran a story about the Poland-based 3D printing startup Zortrax, which significantly boosted its reputation a few years ago by announcing a deal with Dell.

Having sold 5,000 3D printers to such a customer would be a great achievement indeed. The only problem is that the deal appears to have never taken place. The unsupported boasting played its role in 2014, and the real situation was discovered only now.

The worst thing about this story, in my opinion, is that there’s no moral to it. It doesn’t seem likely that Zortrax’s business will have any problems because of this—except maybe that John and some other journalists won’t work with the company in the future. I can only hope that this story doesn’t define the present startup culture as a whole.

Now, without further ado, scroll down to check out the rest of the startup news happened last week.

Enjoy reading, talk to you in a week!


Estonia’s Skeleton Technologies has received €13 million in funding to revolutionize how energy is stored

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Ukraine-founded Petcube has raised $200,000 on Kickstarter for its new gadgets with 25 more days to go

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Startups & Ecosystems

  • Ukrainian-American startup People.ai is using machine learning to rewrite the sales ops playbook
  • Ukraine-founded Petcube has raised $200,000 on Kickstarter for its new gadgets with 25 more days to go
  • Gjirafa and Content Insights, the most well-funded tech startups in Western Balkans
  • Ukrainian startup Hideez Technology has started selling its “single digital key”
  • Hungarian Shoka Bell is a crowdfunding success on Kickstarter
  • Russian cybersecurity startup Wallarm has joined Y Combinator’s new batch
  • Ukrainian-American startup Galactic Exchange has come out of stealth and raised $1.25 million in funding: it claims it can spin up a Hadoop cluster for you in five minutes, ready to go
  • Polish startup PayLane has launched in the US
  • Czech-founded Gamee has launched an addictive Mars Rover game togetger with NASA

Funding Rounds and M&A

  • Estonia’s Skeleton Technologies has received €13 million in funding to revolutionize how energy is stored
  • Russia’s Ticket Cloud has raised $400,000 in funding from two private investors
  • Russia’s Softline has raised $40 million in funding and is gearing up towards an IPO
  • Russian VC fund Flint Capital has led a $3 million funding round in the cyber security startup CyberX
  • Russian-founded AltaIR Capital and the fund of the Russian billionaire Roman Abramovich have invested in Israeli Spot.IM
  • Yuri Milner’s DST Global fund has participated in a $550 million funding round in Go-Jek, the Indonesia-based rival of Uber, and a $275 million round in Deliveroo
  • Russia’s amoCRM has acquired a 50 percent stake in CallbackHunter
  • Polish startup InStream.io has raised €100,000 in funding from an early adopter

Bigger Companies

  • Kaspersky Lab has launched a $50,000 bug bounty program
  • Hackers have broken into Telegram, revealing 15 million users’ phone numbers
  • Russia’s Acronis has announced that it will open an office in India by the end of 2016
  • On the steps of Prisma: Mail.Ru Group applies neural network technologies to videos

Governments and Policy

Long Reads


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