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Budapest is one of the most beautiful cities in Europe and is a treasure trove known for its opera houses, libraries, museums and art galleries. Also, there is an abundance of talented entrepreneurs in the city, which has contributed to the growing startup ecosystem. The compelling tech startup scene has been made feasible as this city is an affordable place with cheap yet fast broadband.
Moreover, Budapest is home to useful events such as Startup Hungary, Vittinger Meetup, Budapest Hackathons and Hackathon-in-a-Box. And, there are accelerators and incubators such as Traction Tribe, Oxo Labs, ConnectEast, Aquincum Technology Incubator, MyCo and DBH SeedStar.
Besides accelerators, the city also has investors such as Core Ventures, Primus Capital, Day One Capital, the Conor Fund and Euroventures. Having said that, here we have curated a list of most funded Budapest tech startups as sourced from Dealroom.
Founders: Laszlo Kishonti
Funding: €44 million
AImotive formerly known as AdasWorks is a full-stack autonomous vehicle tech company founded in 2015. The company’s proprietary autonomous driving tech primarily depends on off-the-shelf camera sensors that are affordable and uses artificial intelligence-based vision processing. Its technology is highly scalable due to its flexibility and modularity. The AImotive’s software can be ported into several car models in diverse locations across the world.
Founders: Gyorgy Szilagyi, István Lám, Levente Buttyan, Szilveszter Szebeni
Funding: €15.8 million
Budapest-based cloud encryption and collaboration company Tresorit was started in 2011. The company provides end-to-end encrypted file sync and sharing services for businesses. The company has over 17,000 customers and its revenue has increased 3x on a yearly basis. Now, the company aims to accelerate its growth by meeting the increasing demand for secure cloud solutions.
Founders: Adam Dalnoki
Funding: €8.6 million
Established in 2008, Mobilengine lets organisations run all B2Employee workflows on mobile devices. Its PaaS (Platform-as-a-Service) enterprises and system integrators are capable of designing, customising, building, introducing and managing complex workflow solutions with fast implementation cycles. The Mobilengine universal workflow app ensures 100% offline business continuity.
Founders: Balázs Scheidler, Zoltán Györkő
Funding: €7.3 million
Balabit is a leading provider of PAM (Privileged Access Management) and Log Management solutions. Debuted in 2000, this company has a proven track record of guiding businesses to reduce the risk of data breaches that are associated with privileged accounts. It has offices in Europe and the United States and a clientele of 25 Fortune 100 companies across the world.
CEO: Ferenc Sziklay-Pap
Funding: €6.3 million
3G Multimedia established in 2009 is an R&D supergroup of developers who have a background that predestinates new ideas and efficient solutions radically. The company provides customised background music service and lets clients program the content displayed in a pre-scheduled manner. It also offers 24-hour maintenance and on-site survey.
Founders: Balázs Vinnai, Gabor Simon, Jozsef Boda
Funding: €5.2 million
Hungary-based IT education startup Codecool was founded in 2014. The company trains people in digital skills and provides employees placement as well. As of now, Codecool has trained nearly 400 individuals without any qualification in the digital field. This startup provides programming training with a job placement guarantee and a 99% success rate. It has 500 individuals studying at four institutions under its control located in Hungary and Poland.
CEO: Krisztián Kurtisz
Funding: €4.6 million
Founded in 2018, insurance company UNIQA introduced Cherrisk. It offers a chatbot named Emma supporting customers when they want to make a claim. Cherrisk is made for individuals and lets them manage insurance. The service was launched after the successful pilot testing in Hungary. Cherrisk lets users access car, home, travel and accident insurance policies via the online interface.
Founders: Attila Horvath, Janos Horvath
Funding: €4.6 millions
Established in 2014, CraftUnique is a 3D printer manufacturer that operates with the intention to construct a desirable and reliable feature-rich 3D printer. Notably, all this is possible at an affordable rate. The company launched its first product called CraftBot on Indiegogo and raised more than it achieved. Ever since, CraftUnique has gained a positive reputation in the Europe and US markets.
Founders: Peter Csillag, Tamas Foldi
Funding: €4.6 million
Starschema is a tech entity founded in 2006. It is a first-class player in the business intelligence scene with a longstanding history of excellence in data viz, data architecture, data science and big data. The company works with the mission to understand their customers’ businesses.
Founders: Péter Balázsik, Zsolt Kelliar
Funding: €4 million
Founded in 2016, Talentuno is a talent platform of the future. It has created AI-assisted and high-tech recruitment marketplace where freelance matchmakers can source candidates and refer them to vacant positions. The matchmakers get the chance to earn high commissions after successfully matching candidates.
Stay tuned to Silicon Canals for more updates in the tech startup world.