Belarus startup funding
European tech funding profile
25 startups in Belarus have closed 21 funding rounds and raised €36M in equity funding (excluding debt and grants) and recorded 8 exits. Software is the most active sector, and VP Capital is the most active investor. Data as of 4 Nov 2026.
#41 in Europe by equity raised — 0.0% of all European startup equity funding.
Equity funding
€36M
excl. debt & grants
Funding rounds
21
Companies
25
Named investors
41
Exits
8
Funding over time
2010–2026 · 2026 YTD — equity € raised vs roundsBelarus — funding over time — interactive chart.
Data table
| Equity | Rounds | |
|---|---|---|
| 2014 | €15k | 1 |
| 2016 | €0 | 1 |
| 2017 | €6.5M | 4 |
| 2018 | €5.7M | 2 |
| 2020 | €1.3M | 1 |
| 2021 | €3.8M | 5 |
| 2022 | €1.6M | 2 |
| 2025 | €7.5M | 3 |
Fastest growing sectors
2025 vs 2024 by € raisedNot enough 2024–2025 data to rank growth.
Top sectors
by deal countBelarus — top sectors — interactive chart.
Data table
| Belarus — top sectors | |
|---|---|
| Software | 8 |
| AI | 3 |
| Media | 2 |
| Fintech | 2 |
| Edtech | 2 |
| Healthtech | 2 |
| E-commerce | 1 |
| Transportation | 1 |
| Gaming | 1 |
| Deeptech | 1 |
Stage mix
by € raisedBelarus — stage mix — interactive chart.
Data table
| Belarus — stage mix | |
|---|---|
| Early VC | €11M |
| Other | €7.9M |
| Series A | €7.2M |
| Seed | €5.3M |
| Pre-Seed | €2.5M |
| Growth/Late | €2.0M |
Top deals
largest disclosed rounds| Company | Stage | Date | Amount |
|---|---|---|---|
| Exigen Insurance Solutions | Early VC | Aug 2008 | €6.4M |
| PandaDoc | Other | Dec 2025 | €5.0M |
| Banuba | Early VC | Feb 2017 | €4.5M |
| TargetProcess | Series A | Feb 2018 | €4.0M |
| Octopousse | Series A | Apr 2008 | €3.2M |
| Vochi | Growth/Late | Jul 2021 | €2.0M |
| Wodan AI | Pre-Seed | Dec 2025 | €2.0M |
| Fabby | Seed | Jan 2017 | €1.8M |
| Read2Play | Other | Mar 2018 | €1.6M |
| Vochi | Seed | Nov 2020 | €1.3M |
Top investors
named, by deal count| VP Capital | 2 |
| Joint Journey | 2 |
| Adventures Lab | 2 |
| Andreas Mihalovits | 1 |
| Digital Future | 1 |
| Dmitry Vasiliev | 1 |
| Elysium Venture Capital | 1 |
| Embria Ventures Group | 1 |
| European Bank for Reconstruction and Development | 1 |
| FIRSTPICK | 1 |
Top cities
by € raised| Minsk | €19M | 8 | |
| Brest | €3.2M | 1 | |
| Temse | €2.0M | 1 | |
| Gdansk | €1.1M | 1 | |
| Mozyr | €427k | 1 |