May 30th, 2021
In the spring, we are pleased to observe our portfolio companies growing. In April, OpenApp attracted a new investment worth PLN 5 million, and in May SGPR.TECH and Minte.ai announced the conclusion of investment agreements.
SGPR.TECH is a company developing modern ground penetrating radar technology, which will enable customers from the mining and construction industries to quickly and accurately image subsurface structures. The company has just announced the investments by a group of business angels associated with Ernst&Young (Marek Mikitiuk, Paul Karamanoukian and Marcel Kerkvliet) and with one of the global companies from the AI industry (investors decided to remain anonymous). The funds raised will be used during the upcoming commercialization phase of the project, helping to smoothly move from the research phase to the commercial phase.
At the same time, the management board of the JR Holding investment fund officially announced that it had acquired a stake in Minte.ai. The company operates in the area of automating the processes of assessing and handling insurance claims in the field of medical and accident insurance. The Minte AI platform, based on the analysis of medical records using Natural Language Processing solutions and a proprietary expert model, performs a documented medical assessment and determines the amount of compensation in accordance with the policy terms. The system has proven its usefulness during two implementations in insurance companies and is ready for the phase of commercialization and market expansion. JR Holding acquired the shares in exchange for PLN 4,650,000.
Since the beginning of 2021, INNOventure portfolio companies have attracted investments in a total amount of PLN 12 million, and at least two more transactions are expected in the near future.