CEE Deals

Prague-based HTG Medical has raised €450,000 and secured EU Medical Device Regulation (MDR) certification for its HTG Urogram, an automated urine monitoring device designed for intensive care units. The funding brings the Czech medtech startup's total capital raised to more than €1 million and supports its commercial rollout across Europe. By replacing manual urine output tracking with automated, real-time monitoring integrated into hospital systems, HTG Medical aims to reduce nursing workloads, improve measurement accuracy, and accelerate expansion into international markets.

Fil Rouge Capital has invested in PropsMadness, a Croatian sports analytics platform that centralizes player stats, matchup context, and injury updates into a single hub. Founded by Trpimir Zovak and Vedran Aračić, the startup has rapidly expanded its coverage from the NBA to the NFL, MLB, WNBA, and World Cup. Backed by a high-caliber team of nine with a track record of building massive-scale products, PropsMadness has already captured over 4,000 users, and this funding round will be used to accelerate its growing momentum. The amount was not disclosed.

Funds, M&A, and other updates

Aspire11 has deployed the first €100 million from its €515 million fund, marking the initial investment phase of the platform. The first portfolio includes companies such as Revolut, ElevenLabs, Databricks, Vinted, VAST Data and Baseten. The deployment marks another step in Europe's broader effort to bring more long-term institutional capital into innovation.

Bulgarian VC firm Vitosha Ventures has announced the first 10 investments from its €34 million Fund II, which plans to back close to 80 Bulgarian startups by 2030. The firm has also appointed Hoxton Ventures co-founder Rob Kniaz as a new General Partner. Vitosha Ventures Fund II closed in May 2026 and plans to invest in close to 80 Bulgarian startups through 2030, with individual investments ranging from €100,000 to €1 million.

Provectus Capital Partners agreed to buy a majority stake in a private healthcare group in Bulgaria, together with INVENIO Partners. The group includes the Haelan network of outpatient centers, a children’s clinic, and two hospitals, and it has about 650 staff and over €20 million in yearly revenue. The deal includes new funding to help the group grow, and some existing shareholders will also sell part of their shares. INVENIO will stay on as a significant minority owner, and both investors will support expansion through new clinics and selected acquisitions. The transaction still needs normal regulatory approvals.

YEP Accelerator has announced the cohort of Ukrainian startups selected for its first international accelerator program, featuring a five-week in-person program in San Francisco. This fall, the teams will travel to the US to work on scaling their businesses, entering the American market, and raising investment. To date, organizers have already secured soft commitments of $3 million in potential investment from partner funds and continue to build out their investor pool.

Other relevant news from the region and abroad

The European defense lab NestAI has launched a sovereign training capability for battlefield autonomy and command orchestration. Powered by its NestOS platform, the initiative integrates real operational data with synthetic simulations to build models that continuously adapt to evolving, contested threats. Partnering with the Finnish and Estonian Defence Forces, AMD, and the LUMI AI Factory, NestAI wants to secure Europe's technological autonomy at the edge.

The European Union is launching a new fast-track financing tool for defense tech startups, with the AGILE (Agile and Rapid Defence Innovation) programme of €115 million. The programme is set to accelerate the development, testing and market uptake of disruptive defence innovative products, focusing on supporting small and medium-sized enterprises (SMEs), including start-ups and scale-ups.

Poland is launching one of the largest investment programmes from the National Recovery Plan. The Security and Defence Fund (FBiO), with an amount of nearly 23 billion PLN (€5 billion). The construction of the Fund is based on two pillars. The loan part accounts for 70 percent of the funds and is supported by Bank Gospodarstwa Krajowego. In turn, the capital part is 30 percent of the fund, for which the specially established company Chrobry S.A. is responsible.

In addition to that, the Polish Minister of Finance and Economy, Andrzej Domański, announced recently the creation of a special fund worth 0.5 billion PLN (~€115 million), which is to support Polish companies from the space sector.

Applied Computing, a London-based AI company building foundation AI for energy operators, recently announced a €17.4 million ($20 million) funding round, as well as its expansion into the United States. The round was led by KBR, with Databricks Ventures also joining the round as a new investor in the company.

Munich-based QuantumDiamonds has raised €91 million in equity and non-dilutive funding to scale its innovative quantum sensing technology. The firm uses synthetic diamond sensors to detect hidden defects in complex semiconductor chips, supporting major global manufacturers in improving production quality.

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