By Editorial Team
February 24, 2025
Key Highlights
Research indicates that venture capital investments in Eastern Europe’s technology sector reached €3.89 billion in 2024, signaling a market transformation.
Data shows that follow-on funding rounds accounted for €3.6 billion, over 90% of the total investment volume, indicating market maturity.
Romania appears to have attracted over €100 million in venture capital for the fourth consecutive year, highlighting its growing role.
Leading deals span finance, aerospace, and e-commerce, demonstrating sector diversification.
Unexpectedly, the report emphasizes the need for a mindset shift from modesty to ambition to drive further regional growth.
Eastern Europe’s Rise in the Tech Sector
Eastern Europe is experiencing significant growth in its technology sector, as evidenced by impressive venture capital investment figures in 2024. According to the Venture in Eastern Europe 2024 report by How to Web and Infobip, the region attracted €3.89 billion through 1,286 deals. This level of investment underscores the transformation of the market and the region’s potential to become a major innovation hub.
Key Metrics and Trends
Total venture capital investment in 2024 reached €3.89 billion across 1,286 deals. Follow-on funding rounds accounted for €3.6 billion, more than 90% of the total volume, highlighting market maturity and investor confidence in existing companies. This trend signals a focus on scaling already successful startups rather than merely funding new ventures.
| Category | Details |
| Total VC Investment | €3.89 billion across 1,286 deals in 2024 |
| Follow-on Rounds | €3.6 billion, over 90% of the total volume |
| Report Source | Venture in Eastern Europe 2024 |
| Report URL | Venture in Eastern Europe Report 2024 |
Romania’s Success
Romania has demonstrated consistent growth, attracting over €100 million in venture capital for the fourth consecutive year. This highlights its increasing role in the regional tech ecosystem, as reflected in the Venture in Eastern Europe Report. This success can be attributed to Romania’s strong engineering talent pool and support from both local and international investors.
Sector Diversification
The top 20 deals in 2024 span finance, aerospace, and e-commerce. This diversification is crucial as it reduces risks associated with dependence on a single industry and promotes sustainable regional development. The report highlights that 20 companies secured 51.6% of the total investment volume, accounting for over €2 billion, indicating a concentration of capital in a few large deals.
Success Stories
Eastern Europe has already produced several globally recognized companies, such as UiPath, Infobip, Bolt, and ElevenLabs. These success stories serve as proof that the region is capable of developing world-class tech firms. UiPath, a leader in process automation, and Bolt, the Estonian ride-hailing and delivery service, showcase the region’s potential on the global stage.
Challenges and Opportunities
The report emphasizes that the region’s primary challenge is no longer a lack of talent or capital but rather the need for a mindset shift from modesty to ambition. To fully capitalize on its potential, Eastern Europe must foster a culture that encourages bold innovation and confidence. This includes supporting entrepreneurs and creating conditions for global scaling.
Comparison with Global Trends
While the report focuses on Eastern Europe, it is notable that the region has shown significant growth compared to previous years, with a 56% increase in investments, excluding Turkey. This demonstrates that even without large markets like Turkey, the region remains attractive to investors.
Conclusions
Venture investments of €3.89 billion in 2024 highlight that Eastern Europe is on the brink of significant transformation in its tech sector. With deep engineering expertise, capital efficiency, and increasing cross-border collaboration, the region is well-positioned to become a global tech hub. Whether it can overcome challenges and realize its full potential remains to be seen, but current data provides reasons for optimism.
Key References
Venture in Eastern Europe Report 2024
Venture in Eastern Europe report nearly €4 billion raised in 2024
Venture Investment in Central and Eastern Europe Sees 56% Growth in 2024
