Supporting scientists in the commercialization of R&D projects, building the value of companies and increasing the supply of attractive investment opportunities for venture capital funds, private equity and individual investors are the basic goals of INNOventure. The measure of success of the fund is therefore the attractiveness of incubated companies to investors. This year was very fruitful in this respect. Eight portfolio companies have obtained further rounds of financing on the private market. The total amount of these investments exceeds PLN 40 million. INNOventure portfolio companies have also begun the process of entering the stock market.
OpenApp (previously OpenRouting) focuses on improving the process of online grocery shopping. The company’s first product was an order optimization system aimed at e-grocery companies. The solution has proven its worth. Especially in time of the pandemic, on the wave of rapidly growing interest in this type of shopping, it proved its high usefulness. Currently, the company is developing a solution aimed at improving the user experience – a checkout and payment platform that reduces the time of placing an order online to 10 seconds, even for the first purchase in a given store. The system eliminates the need for users to constantly enter their data. In order to finance the development of the platform, the company has acquired a new investor who contributed capital in the amount of PLN 5 million.
Optimo Light, a company developing an intelligent lighting control system for office, commercial and manufacturing premises, has acquired 1 million PLN of capital from an investor. The funds will be used to further develop the sales.
SGPR.TECH, having conducted, in cooperation with Warbud, the phase of first tests in real-life conditions, plans further development of its broadband geo-radar technology. The company has obtained a grant for this purpose, while supplementing it with funds from private investors in the amount of PLN 2.1 million.
The Minte.ai system, based on artificial intelligence and used to automate the processing of insurance claims, has been tested in one of the leading insurance companies in Poland. The company has recently acquired an investment of PLN 4.65 million, which will be used to develop the algorithm and intensify sales activities.
The RevDeBug system, which is used to locate and fix bugs in software, is currently being equipped with new functionalities and adapted to support more programming languages. The scale of sales activities is also being expanded. To this end, the company has acquired an investor who took up shares in exchange for PLN 5 million.
The AI-based telemedicine system Cardiomatics enjoys a significant and growing interest. Its unique ability to instantly automatically analyze long Holter recordings is used in patient treatment and medical research projects. The company has secured an investment of over PLN 8.1 million. The funds will be used to expand the system with algorithms for the analysis of further cardiac disorders and for sales development.
The solution offered by Sky Engine combines rendering and artificial intelligence training in the area of image recognition. This provides unprecedented speed and accuracy of inference. The company has recently attracted a private investor. Their contribution of over 4.5 million PLN will increase the company’s capital, provide financing for further research and development, and enable the development of the sales and marketing department.
SDS Optic has developed an innovative and globally unique technology for diagnosing and monitoring the condition of living tissue in the patient’s body. The first application of the developed technology is a diagnostic device in the form of a microprobe, to be used in the diagnosis of breast cancer. Currently the company is conducting research and development work on further applications of the technology. The company raised PLN 11 million in a pre-IPO offering. All offered shares of the new issue were acquired by investment funds managed by leading domestic and foreign financial institutions (including one of the world’s largest investment funds based in Norway), and by private investors.
Other companies from INNOventure portfolio are finalizing acquisition of individual investors. Two of them are planning to debut on the Warsaw Stock Exchange this year: Poltreg on the main market, and SDS Optic on the New Connect. Therefore, we can expect that the summary of the entire year 2021 will also be interesting and full of good news.