Techstars | All things startup in Warsaw №187

Editor’s Edge

In case you blinked last week, Poland was very busy doing what it does best—quietly becoming the heavyweight of Central European innovation while the rest of the world argues over emojis. Iron Wolf Capital just pointed a €100M fund at Poland’s deeptech talent like it’s a laser beam from a Baltic Death Star. Meanwhile, PZU and Pekao are merging into a financial Megazord. If you thought bank mergers were boring, try adding €47B in credit capacity and a Warsaw Stock Exchange ticker that might actually be fun to follow.

Over in edtech, Prepia is building the Duolingo of professional certifications—with a 92% pass rate and less owl-induced anxiety. Meanwhile, defense-tech is suddenly hotter than Kraków in July. Polish VCs are backing everything from battlefield drones to logistics systems for crisis zones. Labrys, Lendurai, Tequipy… we’re one startup away from needing NATO clearance just to cover the ecosystem.

But don’t let the startup boom distract you from this week’s event buffet. We’re talking Java and Microsoft summits, a Web3 & AI bootcamp, and the Coffeedesk grand opening in Wola—because what’s innovation without espresso and a side of DJ beats? Throw in Kobieta i Biznes on Saturday, and you’ve got tech, taste, and feminine power all brewed together.

Who needs LinkedIn when you’ve got this?

And with that, let’s dive in.

Last Week's NEWS

💎 IWC Targets Poland with €100M Deeptech Fund

Baltic VC Iron Wolf Capital has launched a €100M deeptech fund focused on early-stage startups in AI, robotics, photonics, and space tech. While the fund maintains a pan-Baltic identity, its expansion into Poland signals growing confidence in the country’s AI talent and innovation ecosystem. This marks the first time IWC will directly invest in Polish startups, further integrating Poland into the Baltic innovation corridor. Read more. [deeptech, venture capital]

💎 EI Acquires Majority Stake in Supplement Brand Formeds

Enterprise Investors Fund IX has acquired a 77% stake in Poland-based Formeds, a clean-label dietary supplement producer. The brand, known for additive-free formulas and rapid growth across digital channels, is expected to generate €15M in revenue this year—a 46% increase year-over-year. With over 160 products and its own manufacturing facility, Formeds targets health categories such as immunity and prenatal care. Read more. [health, private equity]

💎 BGK Commits €25M to Eiffel Fund for Polish Renewable Projects

Poland’s state development bank, BGK, is injecting €25M into the Eiffel Transition Infrastructure Fund to accelerate renewable energy projects at the early stage. The move aligns with Poland’s sustainability agenda and the EU’s Green Deal, offering catalytic capital to bridge financing gaps. The Eiffel fund focuses on small- and medium-sized renewable projects across Europe and includes institutional support from the European Investment Fund. Read more. [energy, infrastructure]

💎 Polish VC Backs Serbia’s Prepia to Reinvent Exam Prep

Prepia, a Belgrade-based EdTech startup, raised €1.5M in a round led by Inovo VC to scale its AI-driven platform for professional exam prep. Positioned as the “Duolingo for certifications,” Prepia offers mobile-first, personalized learning paths for tests in law, medicine, and tech. The company reports €1.2M ARR within nine months and a 92% pass rate. Read more. [edtech, SaaS]

💎 Imaguru Launches Global AI Hackathon for Freedom and Truth

Imaguru is organizing “AI for a Free Future,” a 48-hour hybrid hackathon from June 27–29, 2025, with events in Warsaw, Madrid, and online. The initiative invites developers and startups to use AI to build tools defending democracy, digital dignity, and innovation rights. The event is part of Imaguru’s global campaign declaring entrepreneurship a human right. Read more. [AI, civictech]

💎 Polish VC Backs Labrys to Reinvent Crisis Zone Workforce Tools

London-based Labrys has raised €17.5M to scale its battlefield-grade coordination platform, Axiom, used in conflict zones and humanitarian crises. The round was led by Plural and includes Poland’s Expeditions Fund, reflecting increased VC activity in defense-tech. Founded by ex-military officers, Labrys replaces insecure tools like spreadsheets and WhatsApp with a programmable system for logistics, risk, and personnel coordination. Read more. [defense-tech, crisis response]

💎 Warsaw VC Leads €5.57M Investment in Lendurai

Estonian defense-tech firm Lendurai has secured €5.57M to expand its autonomous drone systems capable of operating in GPS- and radio-denied zones. The round was led by Warsaw-based Expeditions Fund, along with France’s HCVC and Germany’s Vsquared Ventures. Lendurai’s compact UAVs are optimized for ease of training, payload flexibility, and battlefield resilience. Read more. [drones, defense]

💎 A Major Leap in Emotional and Multilingual Text-to-Speech Tech

ElevenLabs has released v3 (alpha) of its text-to-speech engine, bringing emotionally expressive, multilingual, and dialogue-rich voice generation to life. With support for 70+ languages and inline audio tags (e.g., [sighs], [whispers]), v3 is designed for use cases like audiobooks, gaming, and storytelling. The upgrade improves emotional depth, cadence, and character interaction. Read more. [AI, voice tech]

💎 Tequipy Raises €700K to Reinvent IT Logistics

Polish startup Tequipy has secured €700K from Unfold.vc and leading angel investors to scale its IT asset logistics platform for remote-first teams. With clients across the U.S., UK, and Saudi Arabia, and €310K in April revenue alone, Tequipy is proving the global demand for smart, scalable IT logistics. Its pay-as-you-go model reduces waste, boosts onboarding speed, and gives full visibility into hardware management. Read more. [logistics, SaaS]

💎 LesMills Launches Elite Fitness Camp in Sri Lanka

Only 16 spots are available for a 7-day Les Mills fitness retreat in Sri Lanka, featuring international stars Adam Wadhwa and Lydia Johansson. Hosted at the boutique Panta Rei Resort, the camp blends tropical luxury with intense daily training in formats like BODYCOMBAT, GRIT, and CORE. Read more. [fitness, travel]

💎 Venture Café and ARIA Bring Global Innovation Engine to the UK

Venture Café, the global network for inclusive innovation ecosystems, is launching in the UK in partnership with the Advanced Research and Invention Agency (ARIA). The initiative will debut in London in early 2025, followed by two more cities, creating a UK-wide platform to bridge science, society, and entrepreneurship. Read more. [innovation, partnerships]

💎 CEE’s Tech Valuation Hits $117B

The total market capitalization of the 100 largest tech companies in Central and Eastern Europe reached $117B, up 10% year-over-year, according to Digital Poland’s latest report. While the number of unicorns dropped to 32, a new class of “dragons”—valued between $250M and $1B—is emerging. Mid-tier tech firms are driving regional innovation. Read more. [startups, valuation]

💎 Poland’s PZU and Bank Pekao to Merge and Form a European Financial Powerhouse by 2026

Poland’s largest insurer PZU and major lender Bank Pekao have signed an MoU to merge by mid-2026, aiming to form one of Europe’s strongest financial entities. The consolidation, backed by the government, could unlock €4.7B in Tier-1 capital and enable €47B in new credit portfolios. The plan involves restructuring PZU into a holding company and merging it with Bank Pekao, which will lead the combined entity listed on the Warsaw Stock Exchange. Read more. [finance, mergers]

Subscribe to Startup Digest to stay ahead with the latest news, investments, and must-attend events.

My notes:

💎 Poland’s Real Crisis Isn’t Politics—It’s Population

Poland has long been hailed as a post-communist success story, boasting uninterrupted economic growth, robust institutions, and global recognition as “Europe’s growth engine.” But behind the optimism lies a profound demographic crisis. Read more. [demographics, policy]

💎 Startup Funds Face Marathon, Not Sprint, in Poland’s Venture Ecosystem

Launching a venture capital fund in Poland can take up to a year, even with institutional backing. The VC landscape highlights structural inefficiencies: the UOKiK, KNF, and KRS processes are