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Polish start-ups close the most funding rounds in Central and Eastern Europe, but trail Bulgaria and Lithuania by value. The reason is the market structure: lots of small rounds, almost no large ones.
After the first three quarters of 2026, the venture capital market in Poland has reached an all-time high. Without the ElevenLabs and ICEYE rounds, however, the remaining funding is smaller than a year ago.
Polish start-ups raised PLN 5.03 billion in three quarters, more than in any full year before. But three quarters of that amount comes from just two deals, and the rest of the market is smaller than a year earlier.
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