Why is CEE such a desirable location for investments in AI? Why are international investors turning their focus here more and more? Let’s dissect it.
AI investment in the CEE region has increased rapidly because of a robust ecosystem that endures in the face of challenging global economic conditions. Over €850m was raised by AI startups in 2023, while an additional €593m was raised in the first eight months of 2024. Poland, Greece, and Croatia are at the forefront thanks to big rounds from well-known companies like Croatia’s Verne and Poland’s ElevenLabs (€74m Series B round).
Due to strong international interest, Poland led the region in fundraising, with firms raising €171m in 2024 alone. The area’s entrepreneurial spirit, technical and technological prowess, and quickly evolving digital infrastructure particularly appeal to investors.
CEE has shown its capacity to draw in capital despite global economic downturns and tighter investment conditions, exhibiting resilience that is frequently absent in other areas. The area’s resilience in the face of economic upheaval emphasizes its developing reputation as a centre for AI innovation.
Investors are focusing on particular high-impact industries where CEE businesses are succeeding rather than simply placing bets on AI in general.
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Biotech and healthcare are major drivers, with businesses like Causaly in Greece getting a sizeable round of capital (€55m) to use AI-powered analytics to revolutionise the life sciences. In general, financing for healthcare AI was comparable to that for media-focused AI, but it was split across about 40 early-stage businesses.
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Fintech and Digital Banking: equally important; Romanian leader FintechOS raised €55m, demonstrating the region’s strength in financial services and digital banking.
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Industrial Automation & Manufacturing: Robotics startups, such as the Croatian company Gideon, which is currently supported by Toyota, are promoting automation and efficiency in a variety of industries.
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Cybersecurity: AI-powered security solutions are drawing significant investments as cyber threats get more complex; the Hungarian startup SEON was able to secure €87m.
The growth of vertical AI solutions that are suited to the demands of particular industries is another significant factor driving investment. Instead of creating generic AI platforms, CEE startups are succeeding in specialised applications like AI-driven video production, where businesses like Creatopy (which raised more than €120m in 2024), ElevenLabs, and Colossyan are revolutionising content creation. By providing highly specialised solutions, CEE companies can compete globally thanks to their strategic focus on vertical AI.
