The Hungarian tech surge: Where global investments meet local expertise

The Hungarian technology ecosystem is experiencing rapid growth and development, showcasing a wealth of strengths.

The country is home to several mature tech companies, while an increasing number of tech firms are attracting investment from prestigious global investors or being acquired by prominent industry players.

While some of the most successful companies expand their operations and establish headquarters in the U.S., they continue to retain the majority of their R&D activities and tech teams in Hungary. In recent years, several high-profile international tech companies have opened substantial development offices in Hungary, drawn by the country’s exceptional STEM talent pool. This vibrant ecosystem not only fosters innovation but also positions Hungary as a key player on the global tech stage.

Here are eight companies that attracted investments in the previous year, contributing to the strengthening of the Hungarian technological ecosystem.

1

Commsignia

Industry: Software
Amount raised in 2023: €15M

Commsignia creates comprehensive V2X solutions to power advanced smart city initiatives and autonomous vehicle capabilities through its cutting-edge sensor data-sharing middleware and applications.

The company provides both OBU (On-Board Units) and RSU (Roadside Units) systems, along with OEM-integrated software, to support V2X connectivity, security, and applications.

These innovations are key to developing the next generation of autonomous vehicles and smart mobility ecosystems, enhancing road safety, reducing congestion, and lowering emissions.

2

Turbine

Industry: Healthtech
Amount raised in 2023: €5.5M

Turbine is a company that develops cancer combination therapies aimed at uncovering the underlying biology of diseases and creating personalized treatments.

Their therapies utilize bioinformatics, network medicine, and artificial intelligence to accurately simulate complex interventions by testing millions of potential drug combinations on simulated cells.

This approach enables cancer patients to receive cost-effective and tailored treatment plans, improving the effectiveness of cancer care.

3

Talk-a-Bot

Industry: Artificial Intelligence
Amount raised in 2023: €3.5M

Talk-A-Bot is a provider of enterprise chatbot solutions. Their mission is to automate and optimize business-to-human communication, helping companies save time and resources on repetitive, recurring tasks.

By automating communication, the company aims to transform digital business interactions into secure, app-like services for both customers and employees.

Their unique multilingual chatbots natively support over 100 languages and are powered by more than 30 integrable function modules from our proprietary framework. While technology is crucial, delivering an exceptional user experience also depends on content. With our expertise in communication strategy, Talk-A-Bot help clients achieve response accuracy rates of 85%-95% with their chatbots.

4

Axoflow

Industry: Back Office
Amount raised in 2023: €2.3M

Axoflow is a platform designed to help businesses manage and enhance their data supply chains, enabling them to get the most out of their observability investments. It optimizes the entire machine data lifecycle, essential for both traditional and cloud-based environments.

Built on the power of syslog-ng, Axoflow offers features such as encryption for data in transit and at rest, retention of original data to meet compliance requirements, and role-based access control with region-specific policies.

5

Greenstic

Industry: Food
Amount raised in 2023: €1.4M

Greenstic is a distributor and contract manufacturer specializing in eco-friendly, disposable packaging materials, containers, and cutlery for restaurants.

The company aims to advance Zero Waste systems and help their customers be committed to environmentally preferred packaging.

Greenstic’s goal is to become the leading provider of sustainable packaging solutions in Central Europe.

6

iBar Experience

Industry: Food
Amount raised in 2023: $500,000

iBar Experience is an AI driven inventory app that seamlessly integrates with restaurant management software, offering a fast, accurate, and user-friendly solution for inventory management.

Leveraging AI, the app allows bartenders to measure the volume of any bottled drinks using just a single photo of the remaining spirit. For dark bottles, kitchen items, or kegs, iBar provides Bluetooth scales to assist in accurate measurement.

7

Proofminder

Industry: Agritech
Amount raised in 2023: €400,000

Proofminder is a revolutionary solution that harnesses the power of plant and leaf-level precision agriculture while facilitating the development of new business models in the agroindustry.

By effectively placing an AI agronomist alongside each plant, Proofminder empowers growers to achieve their production goals sustainably.

The company’s mission is to help growers integrate cutting-edge technologies smoothly into their processes, so they can grow better food with confidence and meet production goals sustainably.

8

Munch

Industry: Food
Amount raised in 2023: Undisclosed

Munch is a company that provides a food management platform for restaurants, bakeries, hotels, supermarkets, and other retailers to sell surplus food.

The platform supports businesses in achieving sustainable food management from environmental, social, and economic perspectives, allowing clients to minimize food waste while also recouping potential losses.

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