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# CEE Startup & Tech Weekly: New Capital Flows into AI, Biotech, Medtech and More
- URL: https://www.therecursive.com/cee-startup-tech-weekly-7/
- Published: 2026-09-04T09:30:44.000Z
- Updated: 2026-09-04T09:49:02.000Z
- Description: 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.
- Author: The Recursive
- Tags: CEE Weekly, News

## Deals & news

**The Warsaw-based biotech Science4Beauty** [raised €1.6 million](https://www.therecursive.com/science4beauty-seed-round-botox-cream-expansion/), led by 4growth VC with Hard2beat, to scale its recombinant conotoxin platform, a clinically proven, needle-free alternative to botox, and expand internationally. Their flagship line is Miorelaxant Magic™ (clinically shown to cut wrinkle depth up to 48% and extend botox results \~60 days).

**Piney, a Cyprus-founded cleaning and operations provider** for short- and mid-term rental property managers, [has raised €1.6 million](https://www.therecursive.com/cyprus-founded-piney-raises-eur1-6m/). The round was funded by Uni.fund (lead) and 33East. Piney delivers a unified operating technology layer that automates cleaning, laundry, linen management, and amenity supplies through a single platform.

**Romanian medtech firm Rayscape** has secured a [€1.4 million (RON 7.67 million) EU grant](https://agerpres.ro/ots/proiect-de-2-milioane-de-euro-cofinantat-de-ue-pentru-dezvoltarea-rayscape-tap-ct-solutie-ai-dedicat--661565?ref=therecursive.com) toward a €2 million project to develop an AI-powered oncological imaging platform. Co-funded under the EU's Health Programme and STEP framework (with the company covering the remaining balance) the three-year initiative will fund Rayscape TAP-CT, a 3D algorithm designed to help radiologists detect and track cancer lesions across chest, abdomen, and pelvis CT scans.

**Tallinn-based regtech Instarc** has raised [€1.25 million](https://tech.eu/2026/09/01/instarc-raises-eur125m-to-scale-its-cloud-native-compliance-platform/?ref=therecursive.com) to launch its cloud-native compliance platform in South Africa. The round was led by HFO Investments, with Athena Capital and Option 3 Capital advising. Instarc provides compliance infrastructure for regulated businesses, helping South African institutions meet customer identification, due diligence, and reporting requirements under FICA.

## With teams in CEE

[Israeli-Dutch AI startup Wonderful](https://www.therecursive.com/wonderful-bar-winkler-vedran-bajer-interview-adriatic-expansion/) has raised [$550 million in Series C](https://techcrunch.com/2026/09/02/wonderful-more-than-doubles-its-valuation-to-5b-in-under-6-months/?ref=therecursive.com) funding at a $5 billion valuation, more than double its $2 billion valuation six months ago. Led by Insight Partners, the round also included existing investors and new backer Salesforce. Founded in 2025, Wonderful develops AI agents for customer service and enterprise workflows and now operates across more than 35 countries. Last year, the company launched its **Central and Eastern European hub in Zagreb**.