Hungarian startups are starting to make a name for themselves, emerging as a source of European innovation. But have you heard of these companies?
The Hungarian capital of Budapest has a budding startup scene, with a fast growing community, despite the bureaucratic hurdles involved in setting up a company. The focus on science and technical education means there is no shortage of skilled talent, and there are a few big names that have emerged from Hungary, namely LogMeIn and more recently, Prezi. Here’s a rundown of five more that should be on your radar.
1. Synetiq – neuromarketing research
Startup of the year at the 2016 Central European Startup Awards, Synetiq gives media companies and advertisers an insight into their audience’s emotional and cognitive responses to marketing material, via biometric sensors.
The company was founded in 2013 by Adam Divak and David Ottlik, and has raised almost $1 million in funding.
2. Shoka – smart bicycle bell
Shoka is a bicycle bell, light, navigator and anti-theft alarm all in one. With a simple magnetic attachment, it allows riders to tailor the sound of the bell to the situation. Communicating with the smartphone app, it also helps riders find their way. And taking it with you when you park your bike gives you a 250m radius within which you’ll be alerted if your bike is moved.
The company was founded in 2014 by Dániel Falus, Gábor Rádi, Andras Juhasz and David Pásztor. They raised $100k in seed funding from Ruvento, and their Kickstarter campaign is now fully funded (with an aim to ship the first units in March of next year).
3. Enbrite.ly – data analytics for advertisers
Based out of Budapest and London, Enbrite.ly improves transparency and reduces risk for advertisers. By stopping ad fraud and verifying that online ad spending is used for content that will be seen by real humans, Enbrite.ly helps advertisers increase their ROI.
Founded in 2014 by István Nagy, Mate Gulyas and Oszkár Rimóczi, the company won that year’s Slush 100 competition, and went on to raise €750k in seed funding in 2015.
4. Analogy Co – community-taught virtual consultants
By aggregating your organization’s collective knowledge, Analogy Co allows you to tailor make your own consultant that learns from your experience and expertise. This gives some weight to the expression “learning from your mistakes.”
Winner of the 2016 Central European Startup Awards prize for Best AI/Chatbot Solution, Analogy Co was founded in 2014 by Gergely Németh and Gergely Szertics. They have raised just over $1.5 million in funding.
5. SignAll – automated sign language translation
SignAll facilitates conversation between those with hearing who speak English, and those who are deaf or hard of hearing and use American Sign Language. Their current prototype can translate some of the ASL vocabulary in real-time.
Winner of Best Social Impact Startup at this year’s Central European Startup Awards, SignAll was founded in 2012 by János Rovnyai and Zsolt Robotka. They received $1.72 million in seed funding in May 2016 from an international association of investors.