The Czech startup ecosystem has been maturing over the past few years, benefiting from a solid infrastructure, a highly educated skilled workforce, and a relatively low cost of living. Thanks to its geography, it’s often seen as a ‘gateway’ to other European hubs like Berlin and Vienna as well as hosting a solid presence of innovation hubs, incubators and accelerators. The nation’s capital, Prague, is a UNESCO World Heritage Site, but also a startup hotspot which inspires creativity and development.
According to the latest startup rankings from Startup Blink, the Czech Republic startup ecosystem ranks 4th in Eastern Europe and 32nd globally, and 2022 was undoubtedly an existing year – despite contending with macroeconomic challenges.
After having a closer look a the Czech startup ecosystem, today we’re introducing you to 10 exceptionally promising Czech startups to keep an eye on in 2023 and beyond. All of these startups are founded post-2020.
Victoria VR Metaverse: Based in Prague, this startup has developed a VR platform powered by blockchain technology and Unreal Engine. It offers a blend of MMORPG and social experience, providing players with the opportunity to experience a fully-realized digital life. Players can engage in a wide range of activities, such as gaming, developing virtual real estate, owning businesses, working, and more. Launched in 2020, this metaverse startup has raised about €5 million so far.
VOS.health: Founded in 2021, VOS.health aims to help support better mental health, wellbeing and personal growth. It operates on a community basis and also provides users with science-based educational content and support. The Prague-based startup also has a B2B element so that companies can proactively support their teams’ wellbeing. To date, the company has secured about €2.5 million – with its latest raise at the start of 2023.
Patron: Fintech startup Patron aims to make financial management stress-free and streamlined. The app provides a comprehensive review and optimization of finances. It automatically checks recurring payments and consolidates all online accounts, including phone carriers, banks, energy providers, and insurance companies, into one place, making it quicker and easier to check your financial data. Founded in 2020, the startup now counts over 40k users.
Digitoo: Founded in 2019, Digitoo aims to free accountants of the manual and repetitive work they go through on a daily basis, in turn helping them to focus on more creative projects that have a business impact. Accounting is something every business has to do, with Digtioo it becomes something that is sleek and smooth, and much more approachable. The fast-growing startup has secured about €2.5 million so far.
Choice: Founded in 2020, Choice is an all-in-one solution for communication between restaurants and their guests. The aim is to enhance communications between restaurants and customers, creating stronger relationships. The young company offers restaurant tech to develop QR payments, table ordering, digital menus, online takeaways and deliveries, table reservations and a guest CRM. Choice has raised a total of €2.4 million.
Filuta AI: Founded in September 2022, Filuta has already raised €2.4 million. The startup has the vision to democratize intelligent automation, making it more efficient. It automatically breaks down real-world intelligent automation problems into hierarchies of continuous and discrete models. The technique allows for an order-of-magnitude faster development of explainable discrete symbolic models compared to hand-coded modelling.
Campiri: Founded in 2020, Campiri is on a mission to make it quick and easy to find and rent recreational vehicles (RVs), campervans, and caravans from both rental companies and private owners. for those renting out cars, the traveltech startup offers support and insurance. Campiri also provides a unique investment opportunity, allowing users to invest in campervans and earn a guaranteed return of 6-8% per year. The startup has secured about €5.41 million.
Adam: Based in Prague, Adam connects homeowners and businesses with verified local professionals in multiple European countries, so any home repair or decoration issues can be solved with trust. Via the platform, users can also compare prices and get more transparency. Currently, the platform is connecting homeowners and businesses with local partners and tradespeople in the Czech Republic, Greece, Hungary, Ireland, Italy, Poland, Slovakia, Spain, and the United Kingdom, bringing interior painting into the digital age. Adam was founded in 2020 and has raised about €1 million so far.
Ringil: Founded in 2021, Ringil is on a mission to transform digital logistics. The Prague-based startup has developed a multifunctional platform for freight transportation that digitizes operations throughout the entire transport process. The platform is highly modular, allowing it to be easily implemented and adapted to suit the unique workflows of each customer. So far, the Czech startup has raised about €460k in funding.
Flowpay: This fintech startup was launched in 2021 with the aim of providing small and medium-sized businesses with short and medium-term financing opportunities – helping them flow a little easier. It offers a white-label API solution for Payment Service Providers (PSP), Point of Sale Systems (POS) and ecommerce platforms to help expand their financial capabilities. It gives SMEs more transparent cash flow management, helping them better understand and track customer activities and also supports the development of alternative revenues.
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