€112.8m across 28 rounds with three months to run: Cyprus is about to beat its funding record

Three months left in the year and Cyprus is already within touching distance of its own record. Startups on the island have raised €112.8 million across 28 funding rounds in 2026, against approximately €120 million for the whole of 2025. The tally comes from Dionysis Partsinevelos, an associate at the venture firm 33East and an analyst at G4 Ventures, who has been maintaining the count through the year.

The honest caveat first. Omilia's $67 million (€57.8m) Series B, announced on 6 August and led by Expedition Growth Capital, is more than half the annual figure on its own. Including it, the three largest rounds account for roughly 75 per cent of all money raised. Any sentence of the form "Cyprus raised €112.8m" is therefore mostly a sentence about three companies — Omilia being a voice-AI business for enterprise contact centres, now headquartered in Larnaca.

The number that matters more. 28 rounds, with a median of about $1m. Twenty-one further rounds were announced in the five months since Partsinevelos' May review, seventeen of them disclosing an amount and collectively adding roughly €100m. Breadth, in other words, is increasing alongside concentration — which is the healthier of the two signals for anyone trying to raise a first cheque on this island.

Who else got funded.

• eSIMo — travel eSIM app — $10m
• Neofleet Capital — fleet financing — $4m
• Positronic Robotics — robotics testing — $2m
• Code Maestro — AI game-development tooling — $720,000
• Cleedee — AI recruitment — €300,000, raised by crowdfunding
• MyStudentFlat — €535,706, also crowdfunded

Two crowdfunded rounds in one year is its own data point. It says that the bottom of the Cypriot funding ladder — the €200k-to-€500k rung that venture funds will not reach down to — is now being filled by retail investors rather than left empty. Cleedee closed its round from 117 investors.

Why this sits next to the hackathon listings. Because the question every team at BoC Fintech 7.0 in November or Unicorn Pitches Limassol on 24 November is implicitly asking is whether a Cyprus-based company can raise after the demo. The 2026 numbers answer it in a specific way: a $1m median is a real seed market, and AI — voice agents, recruitment, game tooling — is where most of it went. The pitch deck that does well here is the one aimed at that rung, not at the Omilia headline.

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