Between January and July 2026, five CEE-connected startups—Mews, Preply, Oxylabs, Fonoa, and Viktor—captured roughly two-thirds of the nearly €1 billion raised in the region's top 15 funding rounds, according to Vestbee. The concentration of capital reveals a maturing CEE startup ecosystem, yet one increasingly top-heavy. While significant capital flows into the region, it funnels into a select few later-stage deals, starving nascent ventures and potentially stifling future innovation if early-stage funding mechanisms fail to adapt.
The Big Deals: Who's Getting the Capital?
The top 15 CEE funding rounds from January to July 2026 saw five companies dominate, capturing two-thirds of nearly €1 billion. The trend extends to sector-specific flows, with Vestbee data showing increased capital in security and defense.
- Mews: $300M Series D, January 2026.
- Preply: $150M Series D, January 2026.
- Oxylabs: $130M Series A, July 2026.
- Fonoa Technologies & Viktor: Both featured among the top five deals, though specific amounts remain undisclosed.
1. Mews
Mews secured the largest single funding round in CEE, a $300 million Series D in January 2026, bringing its total funding to $817.3 million. The $300 million Series D capital injection confirms its market dominance and investor confidence, but its later-stage focus offers little precedent for early-stage ventures.
2. Preply
Preply raised $150 million in its Series D round in January 2026, accumulating $320.1 million in total funding. The $150 million Series D investment reinforces its strong market position, yet further illustrates the trend of capital flowing to mature businesses, not nascent startups.
3. Oxylabs
Oxylabs secured a remarkable $130 million in a Series A round in July 2026. The $130 million Series A suggests substantial de-risking occurred pre-round, effectively redefining 'early-stage' in CEE and setting an elevated bar for new entrants.
4. Fonoa Technologies
Fonoa Technologies ranked among the top five CEE funding rounds between January and July 2026. While specific figures are undisclosed, its inclusion confirms significant investor interest in specialized fintech and tax automation sectors.
5. Viktor
Viktor also secured a spot among the five largest CEE deals from January to July 2026, contributing to the two-thirds capital concentration. Its undisclosed but substantial funding highlights investor confidence in growth-stage technology, despite a lack of granular data.
| Company | Funding Round | Amount Raised | Date | Total Funding (Known) |
|---|---|---|---|---|
| Mews | Series D | $300M | January 2026 | $817.3M |
| Preply | Series D | $150M | January 2026 | $320.1M |
| Oxylabs | Series A | $130M | July 2026 | Not specified |
| Fonoa Technologies | Growth Stage | Undisclosed (Top 5 Deal) | Jan-Jul 2026 | Not specified |
| Viktor | Growth Stage | Undisclosed (Top 5 Deal) | Jan-Jul 2026 | Not specified |
The analysis of CEE startup funding in 2026 draws primarily from Vestbee data, covering the largest funding rounds and capital inflows from January to July 2026. Information on early-stage support, like the CEE Startup Voucher, comes from Ceestartup Network. The focus remains on the growing disparity between late-stage and early-stage investment, where capital disproportionately favors mature ventures.
A Widening Gap: Growth vs. Early-Stage Support
CEE's headline funding figures present a deceptive mirage. While capital flows, it concentrates in fewer early-stage deals and larger growth rounds, as Vestbee reports. The concentration of capital prioritizes de-risked, proven models, actively starving nascent ventures. The stark contrast between a €20,000 CEE Startup Voucher and multi-million dollar Series D rounds for Mews and Preply reveals an investment landscape culling future innovators. Oxylabs' $130M Series A further indicates 'early-stage' in CEE now means operating at a scale traditionally considered growth-stage, raising the bar to an unattainable height for true seed-stage startups. The current investment environment favors established players, creating insurmountable barriers for new ventures.
If this funding concentration persists, CEE's startup ecosystem will likely see fewer truly disruptive innovations emerge, as capital continues to bypass the foundational early-stage ventures.
