Adriana Iordan

Andrei Dudoiu

Angel Hadjiev

Bianca Iulia Simion

Delia Ene

Elena Ghinita

Eric Bartha

Ionut Patrahau

Laura Tibuleac

Oana Ciurea

Patricia Borlovan 

Radu Georgescu 

Sabin Gîlceavă

Sander Peltenburg

Jack Thorogood is the Founder and CEO of Native Teams, a comprehensive payments and employment platform designed to support freelancers, remote workers, and their employers. With over a decade of experience in the fintech and remote work sectors, Jack has successfully led multiple companies focused on knowledge management, video software, and smart building technologies. His entrepreneurial journey includes founding and exiting InPlayer.com, a video monetization specialist, and BuildingBrain.com, a smart building platform. Native Teams, founded in 2021, is Jack&#39;s largest project, operating in more than 70 countries and employing a global team.
Native Teams addresses the growing needs of remote workers and freelancers by offering seamless payment solutions and local employment status. The platform provides tools for managing global work payments and creating a streamlined process for cross-border employment. Recently, Native Teams raised €6.2 million to enhance its platform and further establish itself as a leader in the evolving world of remote work payments, becoming the go-to platform for freelancers and global employers.
1. What inspired you to start Native Teams, and how did the idea evolve into the platform it is today?
Simply put, Native Teams solved a problem we had ourselves. I had a small digital agency building software for others. Even in that company of 15 people, we had issues paying people in a way that gave them the biggest intangible and in-work benefits, for example, the creditworthiness that comes from a good job.
We fixed that for ourselves and then had first a friend then some friends of friends ask if we could help them too. That was the genesis and the driver that made us go ‘all in’ on the idea that Native Teams grew from.
2. What gap did you see in the remote work and freelance space that Native Teams was created to address?
First off, we’re ‘employee-first’. Unlike any of our competitors, we’re happy to work directly with employees. It is that group of users we are building our feature set around. If we can look after employees better than anyone else, we&#39;ll win their employer&#39;s business.
Secondly, we needed to build a cost-effective platform that works for all knowledge and tech sector workers. When we launched some of our initial users were lower-earning remote workers. Our cost base and pricing reflect that and open up a world of opportunity even to less well-remunerated talent.
Our competitors were charging fees that in some cases exceeded what the actual end talent was earning each month. That made no sense to us and felt like price gouging.
3. How does Native Teams simplify global payments for remote workers and freelancers, and what unique solutions does it offer?
We offer a wide variety of payment tools - for example, an invoicing platform and multi-currency wallet - and employment options (including payouts through the payroll system in the country of a user’s tax residency) for remote workers and freelancers.
This provides remote workers and freelancers with the best of both worlds of work: The freedom and opportunity of freelancing and remote work combined with all the benefits of a local employment contract.
4. What are some of the key features of Native Teams that set it apart from other global payment platforms?
Compared to other EOR (employer of record) platforms we’re built around a multi-currency wallet, giving absolute flexibility and transparency for payments.
Compared to generalist payment platforms, we are unique in supporting our payments via the in-country payroll system. We also go much further when it comes to functionality such as automating access to tax-free allowances, enabling our users to keep more of the money that they earn.
5. How do you see the future growth of Native Teams, especially with the increasing shift towards remote work?
We expect the company to grow 2.7x during 2025 which will be on the back of 3x growth this year. 
While the trends towards remote work help us - and despite some of the recent ‘back to the office’ drives, remote work is still growing in popularity - it isn’t the sole driver behind our growth. We can work with local firms and distributed teams too to improve the way they think about and manage remuneration.
6. Do you have a mentor or figure who has inspired or influenced your entrepreneurial journey?
My business partner and co-founder Alex has had the biggest impact on my journey to date. Moving from zero to one is exceptionally hard and there is no way I could have made the progress I’ve contributed to without her.
7. What are potential exit scenarios for investors supporting Native Teams?
This depends a bit on the journey that the investors want! We expect to grow the business over the next 3-5 years ourselves. We have a unique opportunity to grow shareholder value over this period and while we have had a couple of significant acquisition offers already, we can add a lot more value for Native Teams shareholders ourselves over the short- to mid-term time horizons.
Having said that, we are regularly approached by potential investors who are keen to buy out existing investors’ positions. For those looking for a shorter-term exit, therefore, there remains optionality.
8. Why should investors consider being part of Native Teams&#39; journey?
Fundamentally I’d summarise this as:
<ul>
<li>We have product/market fit and consistent growth, month over month.</li>
<li>We are in a uniquely massive market. We are relevant to anyone getting paid for the work that they do, which is basically anyone with a job (although we are of course segmenting this and not trying to boil the ocean).</li>
<li>There are many adjacent and ‘upsell’ products we can and are adding to the stack to increase both ARPA and ARPU.</li>
</ul>
<a href="https://investors.seedblink.com/invest/native-teams/277">Explore the opportunity on SeedBlink.</a>

Discover how Native Teams is simplifying work payments globally and explore the potential growth and impact of this innovative start-up.

Redefining global work payments: a conversation with Jack Thorogood, founder & CEO of Native Teams

CUSTO has developed a technology that allows more than 1,500 couriers worldwide to deliver packages simply and efficiently. Our solution simplifies the delivery process for couriers by allowing them to scan packages directly to a parcel box, reading each package&#39;s unique barcode, eliminating the need for complicated procedures when a customer is away. This eliminates the need for complicated procedures when the customer is not at home and makes the delivery process not only faster but also more user-friendly and secure.
CUSTO started in 2021 with a focus on B2C, developing both hardware and software to create a marketable product. Already it quickly became clear, through market feedback and interest from large letterbox manufacturers, that CUSTO&#39;s technology is unique and that our expertise lies primarily in that area. Large manufacturers are already active in hardware development, but our strength lies in combining both areas of expertise to create an innovative scalable product. The recognition from B2B parties came primarily through validation from the B2C market, with the CES Innovation Award 2024 helping further that our product is very unique. 
Thanks to this nomination, CUSTO was awarded a booth at the CES trade show, which allowed us to further expand our network. This accelerated the process toward LOI agreements, of which we have now signed contracts with multiple partners. In this new business model, CUSTO will sell a cassette to B2B parties, who will then integrate it in their turn and sell it to consumers. CUSTO will maintain the relationship with the end customer, by driving the application provided. This grant application aims to scale as well as enable further optimization and expansion of our technology. This is to continue to meet the growing demand from the logistics sector.
1. What motivated you to start Custo, and how has the concept evolved since its inception?
Custo was born out of personal frustration. More and more, as founders, we were buying online which resulted in more and more courier companies coming to us. Each of them with their delivery terms. This usually went well when we were at home, but went we weren&#39;t there it became difficult to find our packages. We wanted a safe, easy guaranteed way to receive but also send our packages, and that for all couriers. That&#39;s how the idea was born. On top of that, when we saw that there was no smart home version of a mailbox and online sales kept increasing we started.
2. In your opinion, why is it important to address security and convenience in the delivery process for customers?
According to McKinsey there were 100 billion parcels delivered in 2020, and this number will double by 2030, knowing that 75% of deliveries are at home, we face a huge problem in the future. In the US already more than 2M parcels a day are stolen. If you read all those figures there is a clear need to build a solution that goes a lot further than a metal box. There is a clear need for a custodian/concierge in front of the door that will manage all your purchases/returns easily and conveniently. That is what our technology does.
3. How do you envision Custo making a difference in the delivery solutions market?
Our ambition is to become the standard in the market in terms of mailbox tech. Today we talk with the biggest players in the European market to integrate our technology as they are not tech companies… We will be their tech partner to convert the box into a fully connected/monitored concierge that customers will manage from their pocket.
4. What are some of the key features of Custo that set it apart from other delivery and mailbox solutions?
<ul>
<li>Opens by scanning the parcel&#39;s T&amp;T code, without knowing the details upfront as we do a real-time check via (+-1500) courier APIs. </li>
<li>Owners can give access (via mobile app) to everybody sharing unique QR codes (once or recurring), knowing that every delivery is notified on their smartphone. </li>
<li>The box can also easily be shared with multiple users.</li>
</ul>
5. What challenges have you encountered in bringing Custo to market, and how have you addressed them?
We have developed the product from scratch, building the PCB, infrastructure, and app.
 It took us 3 years and a few million to build and test it. 
 Once this was done the real test started as we didn&#39;t know how it would be used by couriers. Today we know, having tested it in 4 countries with 20 couriers and having received thousands of parcels that it works. So now it&#39;s time to increase the pace and start integrating in large European parcel box manufacturers. 
6. How do you see Custo&#39;s growth?
We have signed Belgian contracts with big mailbox companies. We aim to sign 2 more (International) by the end of the year which means that volumes will quickly increase to thousands of pieces. We have the ambition to work with the top 3 manufacturers in the coming 3-5 years. We aim to roll out 1 piece of hardware (cassette) that is integrated with the old car radios from the nineties. This hardware costs less than 150€ and has a recurring revenue-sharing model for the manufacturers. This will certainly boost sales, as this is unique in the market.
7. What are potential exit scenarios for investors supporting Custo, and how do you plan to ensure long-term growth?
We aim to be able to sell the company in 5-7 years based on the wramp up. After Europe, the US is certainly a market we want to quickly look at (max 24 months) as the parcel theft issue is a big problem over there.
8. Why should investors consider being part of Custo&#39;s journey?
We believe that CUSTO will become a unicorn based on its unique position and the demand from the logistic market for a structural solution. We have a global patent on the technology!
<a href="https://investors.seedblink.com/invest/custo-box/276">Invest in the opportunity on SeedBlink.</a>

Discover more about the inspiration behind Custo, the challenges of integrating advanced technologies, and Francis's vision for the future of secure deliveries.

Redefining parcel delivery: an interview with Francis Delplanque, CEO & founder of Custo

Welcome to your weekly European tech digest. We&#39;ve handpicked the most impactful news, insightful reads, and essential podcasts shaping the continent&#39;s innovation landscape. Let&#39;s dive into the content that will keep you informed and ahead in the ever-evolving tech investment world.
<h2 id="active-opportunities">Active opportunities</h2>
Spotlight: <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D04035f5180%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5683d2abd4ef4fd21bef08dcd61d469c%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638620668493468660%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=DRUjGM%2BGkmOgI0Na7E5JeF7nANzTJaku8hRjgXg8QEI%3D&amp;reserved=0">Lindis Blood Care</a> is raising €1.05M to revolutionize blood management in cancer surgeries. 
10 companies are actively raising now. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D3125e62136%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5683d2abd4ef4fd21bef08dcd61d469c%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638620668493477809%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=gAXOBInKOIgu6IJxYJVLVGChJGgY8UmKGWSFzWNavjE%3D&amp;reserved=0">Explore them all</a>.
🎙️Pitch of the Week: <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D7941ac6006%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5683d2abd4ef4fd21bef08dcd61d469c%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638620668493484677%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=OnXOeLDrlyHerk07KHK%2Fu0mpkz7AUn3zDGfeVBcyVDk%3D&amp;reserved=0">Native Teams</a>, the Fintech that transforms companies&#39; management of global talent and payments. 
<img src="/img/winning-strategies-zoom-320x100-v1-modified.png" alt="">
<h2 id="secondary-market">Secondary market</h2>
Freedom, flexibility, and control are at the forefront of every smart investor&#39;s mind. Invest or sell your ownership in 45 tech companies with different maturity levels and no minimum ticket. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D8064dac4fe%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5683d2abd4ef4fd21bef08dcd61d469c%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638620668493497052%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=SXuxxlhfB5cCVvsrjO6Q%2BM9DHKl7xFVnNyYVhkzw2Bg%3D&amp;reserved=0">Check the Bulletin Board</a>. 
<h2 id="on-our-radar">On our radar</h2>
The rise of secondaries | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D43726c605c%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5683d2abd4ef4fd21bef08dcd61d469c%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638620668493503053%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=xM5aN9PLtoPwgJDjKmFbTRMgf5Guwu4pwEBqnu8PYuY%3D&amp;reserved=0">Read more</a>
Investors are increasingly accepting secondary transactions at earlier stages. A few years ago, they were less tolerant of founders selling shares before Series A.
The players in an exit | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D628faf6517%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5683d2abd4ef4fd21bef08dcd61d469c%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638620668493509212%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=mDugxKAlufbwEWYiiMe3OwXxFa%2BUt8Ad2fEl004YEpM%3D&amp;reserved=0">Read more</a>
Explore the different roles of players in a startup&#39;s journey and discusses the factors influencing the timing of an exit. It highlights the importance of understanding the motivations of founders and investors and the role of VCs in the investment process.
Baltics going strong | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D00dfde6edf%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5683d2abd4ef4fd21bef08dcd61d469c%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638620668493515095%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=GhYWtJK3Icq%2Bgt0PBGWP3qkmlx%2Fh2KcxnYpHn%2FU63OA%3D&amp;reserved=0">Read more</a>
Estonia ranks second globally in funded startups per capita, closely trailing Israel and outperforming most European countries. 
Podcast of the week | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3De2c0b8e376%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5683d2abd4ef4fd21bef08dcd61d469c%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638620668493520981%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=eRL1UzUELg5avwtEwZ8bKVsklQTd2J8P1cOrscRgyzQ%3D&amp;reserved=0">Tune in</a>
This week’s must-listen is The Tech For Good Podcast, where Ben Mouncer speaks to GoStudent co-founder Felix Ohswald about being the CEO of an edtech unicorn in the post-COVID-19 era. 
<h2 id="lets-meet-at">Let&#39;s meet at</h2>
🇷🇴 SEP 17: eCommerce Talks by EasySales, Bucharest
🇷🇴 SEP 19: Forbes CEE Forum, Bucharest
🇷🇴 SEP 26: Ready to Sell by Exit by Choice, aimed at founders preparing for an exit. 
🇷🇴 OCT 1-2: Invest in Moonicorns by Growceanu, Bucharest. SeedBlinkxGROW10 for <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dd30704c131%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5683d2abd4ef4fd21bef08dcd61d469c%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638620668493527055%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=f9lQ1ju2qTOWxl8x2yX1ouIrmHDTvdUOhaLNTTbpqps%3D&amp;reserved=0">discounted tickets</a>. 
🇷🇴 OCT 2-3: How to Web, Bucharest
🇽🇰 OCT 7-8: Endeavor’s Dare to Scale in Pristina
🇧🇪 OCT 15-16: European Angel Investment Summit, Brussels. EBANxMEMBERS2024 for <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D7b96f911e7%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5683d2abd4ef4fd21bef08dcd61d469c%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638620668493533207%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=Oo4drv2KDJrQ2IdOTOWHr8QJHHKltdqL4qOO9fQTr1I%3D&amp;reserved=0">discounted tickets</a>. 
🇦🇪 OCT 13-16: Expand North Star Conference, Dubai
🇷🇴 OCT 21-22: I Love Failure INNOVATION, Bucharest. FLASHSALE35 for <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D056543e63e%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5683d2abd4ef4fd21bef08dcd61d469c%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638620668493539153%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=LY5jm9tXf0AwFi8VFFGTc7WwSIUVVZMgPTqmFRZtMTc%3D&amp;reserved=0">discounted tickets</a>.

Welcome to our weekly conversation starter

Weekly Digest: curated tech news & food for thought

Mihai Cepoi is the Founder and CEO of Jobful, Romania&#39;s first gamified recruitment platform. With a strong background in HR solutions and sales, Mihai previously worked at SAP, where he was recognized as the MVP for HR sales. In 2018, he left SAP to fully dedicate himself to Jobful. Under his leadership, Jobful secured a pre-seed investment of 250,000 euros in 2020 and an angel investment of 100,000 euros in 2019. The company was also the only Romanian participant in the SAP.io accelerator in Berlin and was invited to the Numa Accelerator in New York.
Jobful leverages gamification to revolutionize the recruitment process, helping HR departments attract talent more effectively. The start-up simplifies hiring processes, making it easier for companies to connect with the right candidates.
1. What ‘aha’ moment led to the founding of Jobful?
The very first ‘aha’ moment we had was one year prior to launching Jobful. The team at that time delivered gamification projects for HR processes and we witnessed a spectacular transformation for a large Telco company in their onboarding process. From 30% churn - people leaving during the first month - to 0% churn and a very happy group of new hires. That’s when we knew the engagement models we’re creating have a large business impact, not a marginal one. 
2. What was your drive back then, and what change did you aim to make?
In terms of drive and motivation, it has always been a mix. The people centric mindset is a core part of our culture and business, so the idea of making a difference for professionals in their career endeavors is a big part of our drive. In today’s very competitive landscape, placing ourselves at the forefront of potentially worldwide innovation is also a big part of our internal motivation. For the last couple of years, investing in projects focusing on the long-term social good and prosperity of vulnerable communities has been an amazing addition to our drive and motivation.
The change we aim to make has been defined as an employment manifesto based on principles. These include: people above processes, technology that empowers people, harmony over power, respect for the counterpart, equal opportunity by design and ethical recruitment over anything else.
3. How does Jobful&#39;s platform contribute to modern recruitment practices, and what specific market gap does it address?
We identified a missing puzzle piece in employment processes across the global market. For more than three decades now (since PeopleSoft launched the first technology for talent acquisition), the innovation in the area of recruitment has been incremental. We still rely on “Applicant Tracking Systems”, on a process centric approach, mapping professionals to our models. This also means that candidates are treated as data sets and recruitment teams are firefighting business needs as positions to be filled. And what we know for sure is that nobody wants to be a data set on a topic as important as work or career.
Today, we hire less than 1% of the profiles we pay job boards to share with us and in most cases ignore the other 99% of professionals interested to join our organizations. Yet we’re surprised our brand as an employer is suffering.
<pre><code>(stat) 65% of candidates don’t receive consistent communication.
</code></pre>
The missing puzzle piece we developed is a talent community platform. With Jobful, we enable employers to empower talent. We make sure all candidates receive consistent communication, we make sure all interested professionals join the employer community, we diversify how professionals can engage with employers (through courses, challenges, events, awards, groups) and we mitigate the dependency risks for sourcing. In a few words, we transform employment from a burden for both parts (recruitment teams and candidates) into a connection process. 
4. From an investor’s perspective, how did the platform grow since its previous raise in 2020?
It’s been a bit more than 4 years since that previous raise. In the meantime we’ve been through a pandemic with market freeze, a large military conflict in eastern Europe, economical instability, pivoted twice and the list goes on. 
During these years we’ve been strong (resilient) enough to: 
<ul>
<li>Rebuild the entire team from 3 members to 16</li>
<li>Double the business for 3 consecutive years, now getting close to 400K in annual recurring revenue</li>
<li>Deploy the technology for large enterprises (Regina Maria, Raiffeisen, Publicis)</li>
<li>Launch international projects (Wyndham Hotels EMEA, Startup Refugees in Finland)</li>
<li>Build a highly scalable model for expansion</li>
<li>Develop strategic partnerships with NESsT, IKEA Foundation, BCR and EBRD</li>
<li>Maintain 0 churn rate (happy customers)</li>
</ul>
Maybe just as importantly for investors in today’s market conditions, we demonstrated agility and resilience during incredibly difficult times.
5. What’s your specialization in terms of company type, roles you support and geography? - How are you different from other recruiting platforms? 
The gamification framework and expertise, deeply embedded in our proprietary technology, is today our strongest differentiator. As mentioned above, other recruitment platforms or solutions are still iterating on process centric models often ignoring the candidate experience or at least putting it in second place (best case scenario). Any expert in recruitment can tell you this process is about people. We enable employers to make the process about people and the impact on business outcomes is spectacular. 
6. How does Jobful guide and empower HR departments to make informed decisions about their recruitment strategies?
Our technology provides an amazing opportunity for HR leaders, enabling their organization to make people processes a critical part of their business success. In most cases recruitment is rather tactical not strategic, the volume of work is based on requests (we need to hire / replace x people as soon as possible) which led to this firefighting approach. 
In a very unpredictable future, after COVID recession, economical instability and generative AI driven fears, the solution can only be preparation and agility. This is exactly what our solution offers to employers, a model to build, grow and engage talent communities, enabling foresight instead of forecast. A broader perspective regarding possibilities and opportunities instead of an estimation that things will be more or less the same / predictable.
7. How does Jobful address the inclusivity framework nowadays?
When we discuss inclusivity we have to look at the entire ecosystem. Inclusivity has a strong pillar in people &amp; culture processes, another pillar regarding infrastructure including technology, another pillar in education and the list can go on.
On our end, we’re very proud with our progress over the years on this topic:
<ul>
<li>We have a very diverse team with representatives from every single active generation in the workforce market and representatives from different key groups (people with disabilities, from minority groups). This broadens our perspective and offers us insights in everything we do.</li>
<li>We reengineered the entire interface of our platform in order to make our platform accessible to people with visual impairment (WCAG 2 international standards). It&#39;s very sad to say, but only 3% of the Internet is for everyone. The other 97% is only for the people who have the fortune to see. We’re very proud to be part of the 3% today.</li>
<li>We added a step in the selection process called the matching system. Professionals profiles are anonymized and can only be unlocked after both parties have confirmed. This eliminates by design any potential bias on gender, age, vulnerability, disability, etc. leading to an equal opportunity framework for hiring.</li>
</ul>
8. What advisors do you have? 
Our current advisors are experts on key pillars for Jobful’s growth. We work with Dr. Mirko Knaak for AI/ML strategy, with Emanuela Modoran for grants, Mihaela Toader for financial planning, with Jaco Fok for innovation and different mentors from our ecosystem.
9. Do you have a mentor or figure whom you admire and draw inspiration from?
I admire my colleagues and their dedication to make everything happen within our organization. I admire our mentors and advisors. Generally I crowdsource inspiration from every context possible.
10. Why should investors consider being part of Jobful&#39;s journey?
There are plenty of reasons an investor should consider joining our journey. Starting from the financial incentive and return of investment, that’s part of the definition for “investor”. I would add some other potential motivators:
<ul>
<li>They work in the industry and their experience, network and passion can contribute to our growth and implicitly to better returns</li>
<li>They empathize with our mission (and values) and want to contribute to its success</li>
<li>They want to be part of an amazing entrepreneurial experience and maybe one day join as part of the team too</li>
<li>They understand the importance of empowering vulnerable people and want to contribute</li>
<li>They believe Romania deserves better representation in the global startup scene and see the opportunity just like we do</li>
</ul>
I believe the list is a bit longer, the point being there’s plenty of reasons to join our journey regardless of the capacity.
<a href="https://investors.seedblink.com/invest/jobful/263">Invest in the opportunity on SeedBlink.</a>

Discover how Jobful empowers HR departments with strategic tools to attract talent making B2B’s life easier.

Redefining the recruitment process: an insightful discussion with Mihai Cepoi, CEO & founder of Jobful

Recharged and back to full speed with ambitious goals for the rest of the year! Join us in exploring the European future alongside the tech visionaries shaping it.
<h2 id="active-opportunities">Active opportunities</h2>
🇷🇴 VC-Backed | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Df0dbde2d52%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C62617cc4f00f4d39e25a08dcd098e04a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638614602244788059%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=XLZpI5m%2FOZ8Q9G1uOLvcAqmXek9HGxC4sE%2F4bS423hw%3D&amp;reserved=0">Questo</a>, the travel startup used by 500,000 people worldwide, is raising €630,000 funding round to scale its gamified event solution.
🎙️Pitch of the Week: <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D45c68a85f8%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C62617cc4f00f4d39e25a08dcd098e04a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638614602244822004%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=32qpHEu9dV%2FgFgu40dYITaadbyOddiqhJExu%2FZvrflk%3D&amp;reserved=0">Jobful </a>- gamified recruitment platform. 
🎙️Webinar - <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Da1ed34368c%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C62617cc4f00f4d39e25a08dcd098e04a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638614602244839111%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=o1x3WvPVpHZ6w%2FDmjOn78D%2BrblCkw%2FPaHQZF%2Fax2ncY%3D&amp;reserved=0">Winning strategies for startup investors</a> - portfolio building &amp; investment instruments. 
<img src="/img/3dd17508-4da6-4220-b88b-34a00ec3a36a.png" alt="">
<h2 id="secondary-market">Secondary market</h2>
Freedom, flexibility, and control are at the forefront of every smart investor&#39;s mind. Invest or sell your ownership in 45 tech companies with different maturity levels and no minimum ticket. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dd828351515%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C62617cc4f00f4d39e25a08dcd098e04a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638614602244872187%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=qRzmeygjJ7T9dA%2FRIgqFs%2F0GWlT1Voxupydb%2FzNp%2FHs%3D&amp;reserved=0">Check the Bulletin Board</a>. 
<h2 id="on-our-radar">On our radar</h2>
August portfolio updates |<a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D15c3de7500%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C62617cc4f00f4d39e25a08dcd098e04a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638614602244888661%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=xVqu43%2FWNs6ywtqXYzbG4BiFWSmsDjhgFuj97sNhBsQ%3D&amp;reserved=0"> Read more</a>
Learn about significant achievements from Arcanna AI, Bonapp, Dronamics, DRUID AI, FLOWX AI, .lumen, PROCESIO, Quarks Interactive, and Swisspod Technologies. 
Liquidity spotlight | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Da9929736c6%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C62617cc4f00f4d39e25a08dcd098e04a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638614602244918145%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=aHeWhUxB5l%2FIj%2Fwv2b6JjNWKpBBaVfDt5ghFlfP85KM%3D&amp;reserved=0">Read more</a>
Public market investors increasingly seek exposure to private assets, as most returns now occur before an IPO. This has driven the growth of secondary markets, offering liquidity for early investors and access for those in public markets.
August stats | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Db5cade5eed%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C62617cc4f00f4d39e25a08dcd098e04a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638614602244932602%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=oWfp4jEb1QPyNBxj1T3YcUPkD9%2BWBYdnlkTkefav1Yo%3D&amp;reserved=0">Read more</a>
Discover key trends in European tech investment for August 2024 in this comprehensive report. Despite the summer slowdown, €1.9 billion was raised across 203 deals, with energy and healthtech leading. 
Most active deeptech investors | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D9b330ebf08%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C62617cc4f00f4d39e25a08dcd098e04a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638614602244946113%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=ajTLVKmv210%2Bjd4UQ4JrRDDJzVRL%2FR8S1OOmD8Guyvo%3D&amp;reserved=0">Read more</a>
Investors are being wooed by the promise of cutting-edge technology and science — and they’ve put €6.5bn worth of cheques for 488 deeptech deals so far in 2024.
Podcast of the week | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D6e50fdda9a%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C62617cc4f00f4d39e25a08dcd098e04a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638614602244961382%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=%2BwTeCJV1GIJM9JiEDIpxaf7pgsE77NFudplIeRJsxKY%3D&amp;reserved=0">Tune in</a>
This week’s must-listen is Think Big and Act Fast featuring Brad Jacobs, who has done 500 M&amp;A transactions and raised 30 billion dollars of debt and equity capital. 
<h2 id="lets-meet-at">Let&#39;s meet at</h2>
🇷🇴 SEP 17: eCommerce Talks by EasySales, Bucharest
🇷🇴 SEP 19: Forbes CEE Forum, Bucharest
🇷🇴 SEP 26: Ready to Sell by Exit by Choice, aimed at founders preparing for an exit. 
🇷🇴 OCT 1-2: Invest in Moonicorns by Growceanu, Bucharest
🇷🇴 OCT 2-3: How to Web, Bucharest
🇽🇰 OCT 7-8: Endeavor’s Dare to Scale in Pristina
🇧🇪 OCT 15-16: European Angel Investment Summit, Brussels. Use EBANxMEMBERS2024 for <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Db9063a2128%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C62617cc4f00f4d39e25a08dcd098e04a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638614602244974789%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=1PVutZmK%2B1cekTREjMbw5vRvTjawTYpJnYTW3aEkN4A%3D&amp;reserved=0">discounted tickets</a>. 
🇦🇪 OCT 13-16: Expand North Star Conference, Dubai
🇷🇴 OCT 21-22: I Love Failure INNOVATION, Bucharest. Use SEEDBLINK20ILF and get 20% off all regular attendee <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D49f37c6d89%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C62617cc4f00f4d39e25a08dcd098e04a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638614602244985690%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=5k20aD%2BlpzGWxZq0He7jXZn6zO%2BCDSUcEdVhogjbY5k%3D&amp;reserved=0">tickets</a>.

Tech Investors Academy, powered by SeedBlink, is an English-only hybrid learning program designed for all investors registered on the SeedBlink platform who want to enhance their venture capital knowledge.
The fourth Tech Investors Academy learning module by SeedBlink focused on liquidity and secondary market transactions. We discussed the role of liquidity in private markets, why secondary transactions are great exit opportunities for investors, how to assess market trends and opportunities in a secondary transaction, how to evaluate investment timelines and align different expectations, and more that we invite you to discover below. 
This session was led by <a href="https://www.linkedin.com/in/eric-bartha-08154810b/">Eric Bartha</a>, Head of Revenue at SeedBlink, and he was joined by: 
<ul>
<li><a href="https://www.linkedin.com/in/markus-oberg-a1a7b9172/">Marcus Öberg</a>, COO and co-founder of <a href="https://accumeo.com/">Accumeo</a>, with a background in finance and corporate strategy, focusing on secondary transactions.</li>
<li><a href="https://www.linkedin.com/in/oden-vallien-2511b8149/">Oden Vallien</a>, CEO and co-founder of <a href="https://accumeo.com/">Accumeo </a>who specializes in providing liquidity solutions for private company shares, leveraging his diverse experience in finance and tech. </li>
</ul>
<h2 id="what-do-you-need-to-know-about-liquidity-and-secondary-market-transactions">What do you need to know about liquidity and secondary market transactions?</h2>
Liquidity events traditionally refer to the sale of a company, either partially or entirely, or through an initial public offering (IPO). However, the path to an IPO has become longer and less certain, with many companies choosing to stay private rather than go public. 
Notable examples include companies like Stripe, which raised significant funds with a portion dedicated to secondary transactions, and Revolut, which pursued a large secondary round. This trend shows that even large, successful companies opt to remain private, which has implications for investors&#39; thinking about liquidity and returns.
Venture investments operate on a longer timeline than some might expect, with a standard VC fund&#39;s lifespan of around ten years. 
However, it’s not uncommon for the most significant returns to be realized even later, sometimes 13 years or more after the initial investment. It contrasts with some investors&#39; expectations, looking for returns within a much shorter timeframe. 
For example, the approach of some VCs, like Sequoia, reflects a shift toward holding investments for even longer periods, challenging the traditional 10-year model. This is one of the reasons why the IPO model is becoming more of a long-term plan for investors, and secondary transactions have become more attractive for short-term gains.
“I think a lot of investors who are primarily active in public markets are noticing more and more that the majority of returns are made before an IPO these days. So, there is a major demand and build-up from public investors to gain exposure to private assets.
This is why secondary markets became a business in themselves. On the one hand, there are many early investors and employees who want to find a liquidity window, but there are also many investors in public markets who feel left out.&quot;
Mentioned <a href="https://www.linkedin.com/in/oden-vallien-2511b8149/">Oden Vallien</a>, CEO and co-founder of <a href="https://accumeo.com/">Accumeo </a>
<h2 id="lessons-learned-from-spotify-and-the-swedish-startup-ecosystem">Lessons learned from Spotify and the Swedish startup ecosystem</h2>
In recent years, much of the value creation in companies has occurred outside the stock exchanges, as many businesses, like <a href="https://northvolt.com/">Northvolt </a>and<a href="https://www.h2greensteel.com/"> H2 Green Steel</a>, have opted to remain private due to strong access to private capital and interest from private investors. 
Companies staying private is becoming a common trend as more delay goes public, making secondary markets attractive for investors who want to benefit from early-stage gains. These transactions allow stakeholders to achieve some gains without waiting for an IPO, while new investors gain access to potentially high-growth opportunities before a company enters the public market.
Spotify is an excellent example of how a company can build significant value while remaining private. Founded in 2006, it remained unlisted for 12 years before its IPO in 2018.
During this period, Spotify created substantial value between 2006 and 2018, offering opportunities for early investors to realize gains through secondary sales before the IPO
Mentioned <a href="https://www.linkedin.com/in/markus-oberg-a1a7b9172/">Marcus Öberg</a>, COO and co-founder of <a href="https://accumeo.com/">Accumeo
</a>
Historically, these opportunities have been less accessible to retail investors, especially in markets like Sweden, where the investment landscape has been relatively closed.
Going toward longer periods before IPOs means that by the time companies go public, much of their value has already been realized.
We see a contrast with earlier cases like Amazon, which went public just two years after its founding, allowing public investors to participate in more of its early-stage growth. 
Today, the challenge for retail investors is finding ways to invest in these companies earlier in their lifecycle, before they have matured and gone public.
Mentioned <a href="https://www.linkedin.com/in/oden-vallien-2511b8149/">Oden Vallien</a>, CEO and co-founder of <a href="https://accumeo.com/">Accumeo</a>
Investors generally find it easier to understand the value of consumer tech companies like Spotify because they can personally experience the product and recognize its impact. As a revolutionary product, Spotify demonstrated its growth potential, making it an attractive investment. 
Spotify&#39;s case illustrates how trading in the secondary market before an IPO can yield quick returns. Investors who bought shares just a week before the IPO earned a 40% return on the first trading day. 
On the other hand, companies like H2 Green Steel, which focus on less familiar industries such as eco-friendly steel production, may not be as immediately obvious to retail investors. 
However, these companies address well-known global issues like CO2 emissions, making their business models increasingly attractive as media exposure and public awareness grow.
<h2 id="4-factors-to-consider-before-selling-on-the-secondary-market">4 factors to consider before selling on the secondary market</h2>
1. Portfolio diversification.
Diversification is one of the biggest factors to consider before selling shares on the secondary market. Many early investors or employees may find that their shares in a private company have grown to represent a significant portion of their net worth. 
Concentrating capital in a single asset can be risky, so selling a portion of those shares can help diversify a portfolio, reducing risk without completely exiting the investment.
2. Seller profile.
The type of seller plays another significant role in secondary market transactions. Sellers often include early investors who have been with a company since its founding or employees who received shares as part of their compensation. 
Additionally, institutional investors or funds might need to liquidate shares to return capital to their investors, which can result in quicker, sometimes less favorable sales.
3. Market focus.
Most trades in the secondary market are concentrated around large companies that are expected to go public soon. 
However, there is also a market for mid-sized companies, though these transactions are rarer. Investors often look at whether the company they hold shares in will likely attract interest based on its growth potential, profitability, and proximity to an IPO.
4. Legal considerations.
Before selling, it’s important to understand the legal aspects of secondary transactions. 
For example, companies often have a &quot;right of first refusal&quot; period, where existing shareholders can choose to buy the shares being sold. This process can extend the time it takes to complete the sale, so sellers need patience and to be aware of the potential delays.
<h2 id="stay-connected">Stay connected!</h2>
<a href="https://seedblink.com/newsletter">Subscribe to our newsletter</a> and stay tuned for similar updates and insights into European startup news, equity trends, VCs, and investment opportunities.

Explore the importance of liquidity in private markets and how secondary transactions offer exit opportunities. Learn key factors, risks, and trends shaping secondary investments.

Portfolio building 101: Understanding liquidity and secondary market transactions

As we transition into the vibrant fall days, we are excited to share the latest updates from our portfolio companies, highlighting their impressive progress.
Here’s a snapshot of the achievements of the startups we&#39;ve proudly backed: 
Arcanna AI will be showcasing its latest technologies at The AI Hot 100 Conference, hosted by The AI Furnace, on September 18th in New York City. This event is a key gathering for AI professionals and innovators, providing a platform for Arcanna AI to present its newest developments and share insights into the future of artificial intelligence. Learn more about the conference <a href="https://www.aifurnace.co/">here</a>. 
Bonapp recently celebrated a significant milestone in <a href="https://www.linkedin.com/posts/pennyreweromania_celebrating-a-milestone-with-penny-rewe-activity-7234470967576584192-6URq?utm_source=share&amp;utm_medium=member_desktop">partnership with PENNY | REWE Romania</a>. Together, they have saved 24,000 products from going to waste, which translates to rescuing 7.2 tons of food. This effort has made an environmental impact equivalent to planting 622 trees, showcasing Bonapp’s commitment to sustainability and reducing food waste. 
Dronamics, supported by over £7 million in UK government funding through Innovate UK&#39;s <a href="https://www.sustainabletimes.co.uk/post/7-million-funded-medical-drone-delivery-trial-marked-as-a-technological-revolution">Future Flight Challenge</a>, has made remarkable strides in the medical logistics space with its CarbonNeutral certified drones. 
DRUID AI is gearing up for its online annual event, Symbiosis 3, where the latest in DRUID AI&#39;s platform technology will be showcased. The event will highlight advancements in Generative AI agent orchestration with the DRUID Conductor, a tool designed to enhance conversational AI capabilities. More details about the event can be found on their <a href="https://www.linkedin.com/events/7236374379918426112/about/">LinkedIn page</a>. 
EasySales is set to participate in two events this month. On September 10th and 11th, they will be at the Seamless Europe Startup Innovation Showcase in Munich, Germany, showcasing their latest e-commerce innovations — here you can <a href="https://lnkd.in/dtNVJ_ky">register for a free pass.</a> Then, on September 18th, they will host <a href="https://lnkd.in/dQJpusiJ">eCommerceTalks in Bucharest</a>, where they’ll engage in a panel discussion on international sales strategies with leading industry experts. See you there? 
FLOWX.AI has been featured in last month’s FinTech Magazine for its collaborative efforts with the National Bank of Canada. The article (<a href="https://fintechmagazine.com/magazine/fintech-magazine-july-2024">available on page 84</a>) explores the successful partnership and how FLOWX.AI&#39;s platform is driving digital transformation in the banking sector. 
.lumen has secured a second US Patent for their innovative Glasses for the Blind and Pedestrian Autonomous Driving AI. The patent includes advancements in detecting the environment, recognizing obstacles, and determining safe pathways for pedestrians, offering non-visual feedback to users.
PROCESIO is now a pilot participant in Bitdefender&#39;s <a href="https://www.linkedin.com/company/the-console-project/">CONSOLE Project</a>, underlining its commitment to maintaining the highest security standards for its technologies. By serving a diverse clientele that includes enterprises, freelancers, and SMBs, PROCESIO continues to demonstrate versatility and performance in the business process automation space. 
Quarks Interactive has successfully launched a version of Quantum Odyssey for iPhones and iPads, expanding its reach beyond Android devices. The app, free to download, is touted by the founder as the most comprehensive quantum computing educational software and video game available on handheld devices. Quantum Odyssey can be downloaded for <a href="https://lnkd.in/gCnKFJXP">Apple devices here</a> and for <a href="https://lnkd.in/giBAEvt5">Android devices here</a>. 
Sessions, the Romanian startup, has been facing significant challenges despite initial momentum. After raising funding earlier this year, the company has encountered delays with its latest financing round, causing difficulties in paying employees and continuing operations. Founder Radu Negulescu recently shared that they are now five months late on payroll, despite strong early traction.
 To stay updated on their journey and learn more about how they’re navigating these challenges, check out the full story on<a href="https://www.zf.ro/business-hi-tech/drama-unui-start-up-dupa-5-luni-runda-finantare-fondatorul-start-up-22456618"> ZF Business Hi-Tech</a>.
Swisspod Technologies is inviting you to a historic celebration in Lausanne. Founder Denis Tudor will host a special ceremony on September 17th, in collaboration with EPFL DESL, to celebrate Swisspod&#39;s world-record achievement for the longest hyperloop ride. With 80 successful rides already under their belt, Swisspod is setting new benchmarks in the hyperloop industry. If you&#39;re interested in attending this event, please reach out to Denis at <a href="mailto:denis@swisspod.com">mailto:denis@swisspod.com</a>. 
We remain dedicated to fostering trust and transparency by engaging with our funded startups and sharing their latest updates with our community of investors and tech enthusiasts. 
If you are interested in supporting any of our portfolio companies with your network, knowledge, or mentorship, please contact us at <a href="mailto:investors@seedblink.com">mailto:investors@seedblink.com</a>.

Significant achievements from Arcanna AI, Bonapp, Dronamics, DRUID AI, FLOWX AI, .lumen, PROCESIO, Quarks Interactive, and Swisspod Technologies. Let's dive into their success stories. 

Investor insight: August 2024 Portfolio success stories 

Written by Ionuț Pătrăhău, Managing Partner and Corporate Development @ SeedBlink. In addition to his extensive experience in banking, Ionuț Pătrăhău has also worked in the healthcare sector. He was the CEO of the private healthcare network Regina Maria and co-founder of the Brain Institute, a neurosurgery center developed in collaboration with Monza Hospital. 
As a first-time tech founder, you’re no stranger to the highs and lows of bringing an innovative idea to life. While your industry knowledge and passion drive you forward, the reality of needing financial backing to fuel your vision becomes increasingly pressing. After bootstrapping with your savings and small investments from supportive friends and family, you’re ready to enter the world of business angels and venture capitalists (VCs). 
<h2 id="the-shifting-realities-of-venture-capital">The shifting realities of venture capital</h2>
The venture capital ecosystem is defined by specific investment criteria, ticket sizes, and timing, all of which can fluctuate depending on broader economic conditions. Startups today are navigating an environment where VCs are not only scrutinizing the viability of a product or service but are also laser-focused on the resilience of financial planning and the strength of founding teams. These demands are altering day by day, influenced by economic uncertainties, inflation rates, and global market shifts. What VCs are looking for in a startup can change rapidly, making it increasingly difficult for founders to anticipate and meet these expectations. 
The harsh truth is that less than 1% of startups globally are successful in securing VC funding. According to Eurostat&#39;s Venture Capital Glossary and Statistics, about 5-10% of startups in Europe succeed in securing VC funding. Even for those with a solid network, accessing this world effectively can be a significant challenge. The VC arena is vast, often intimidating, and populated by seasoned investors who are increasingly selective in their investments. For many startups, the dream of finding &quot;the one&quot;—an investor who perfectly aligns with their vision and provides the necessary backing—is often an illusion, even for those with undeniable potential. 
Creating a compelling pitch remains crucial, but it’s no longer enough to simply highlight your product&#39;s uniqueness, market potential, business model, and growth strategy. Even the most well-crafted pitch can falter if it doesn’t align with the current investment climate. Founders must now demonstrate an acute awareness of market dynamics and the ability to pivot or adapt as circumstances evolve. The bar for securing VC interest is higher than ever, with investors seeking not just innovation, but also the assurance that startups can weather economic storms and emerge stronger. 
<h2 id="alternatives-to-traditional-vc-funding">Alternatives to traditional VC funding</h2>
Given these challenges, startups need to consider alternatives to traditional VC funding. While securing VC backing may seem like the ultimate goal, it’s not the only path to success—and for many, it may not be the best one. This realization shifts the focus from merely raising funds to finding alternative pathways that offer the capital, guidance, and strategic support needed to grow, without the pressure of conforming to the often-narrow criteria of venture capitalists. 
This is where we come in, offering support for these alternatives. 
Our team supports startups in their quest for the right investors by providing expert knowledge, warm introductions, and guidance throughout the fundraising process. We help you understand the nuances of the VC world while also opening doors to a broader network of investors and partners who are aligned with your specific goals and values. 
Our team advice is tailored to your specific stage and sector, ensuring you&#39;re well-prepared to engage with potential investors. This includes refining your pitch, honing your financial forecasts, and crafting a compelling narrative. We’re taking advantage of our extensive network to make warm introductions to venture capitalists, business angels, and alternative funding sources aligned with your business goals, increasing the likelihood of finding investors who share your vision for growth. 
In this ever-changing ecosystem, the ability to adapt and remain flexible is just as important as the original idea itself. The journey to securing funding is fraught with challenges, but with the right strategy and support, startups can navigate these uncertainties and find their path to success. 
If you are a first-time founder embarking on your fundraising journey or don’t want this process to be your full-time job in the following months, consider us as your trusted ally in finding the right partner—whether in the VC world or beyond. Reach out to us at <a href="mailto:&#x73;&#x74;&#97;&#x72;&#116;&#117;&#x70;&#115;&#64;&#115;&#x65;&#101;&#x64;&#x62;&#108;&#x69;&#110;&#107;&#46;&#x63;&#111;&#x6d;">&#x73;&#x74;&#97;&#x72;&#116;&#117;&#x70;&#115;&#64;&#115;&#x65;&#101;&#x64;&#x62;&#108;&#x69;&#110;&#107;&#46;&#x63;&#111;&#x6d;</a> for more details on how we can support you on this crucial journey. 
--
SeedBlink is the all-in-one equity and investment platform that provides the infrastructure, financial services and network coverage for European tech companies and their stakeholders to access, manage and trade equity at every stage of growth.   
With a comprehensive suite of products and services, SeedBlink streamlines investment processes and provides robust support throughout the equity lifecycle, from initial funding rounds through to mature investment opportunities and secondary markets. 
<a href="https://sso.seedblink.com/realms/seedblink/protocol/openid-connect/auth?client_id=nimity&amp;redirect_uri=https://equity.seedblink.com&amp;response_type=code&amp;scope=openid&amp;_gl=1*16conh7*_ga*MTc0NDUwMDY4LjE2ODQyMTU1MDY.*_ga_KSNT1WVLT2*MTcyNTM0NDg4NC4xMDk1LjEuMTcyNTM0NzI0MS4yOS4wLjA.*_gcl_aw*R0NMLjE3MjE5MTg5NzUuQ2p3S0NBanc3NGUxQmhCbkVpd0FicU9BakhHODQ2VmV5aFRGb1h1S1hoRnhhWER1YWZ2d0NzZmNjc3FYbmNRak9vMEFPRGhveGliOG54b0NBaVVRQXZEX0J3RQ..*_gcl_au*NDU2NDI0NDcwLjE3MTk4MTc5NDc.">Become part of our community. </a>

The harsh truth is that less than 1% of startups globally are successful in securing VC funding.

Finding the right partner beyond the VC dream 

Cătălin Mester is the driving force behind &quot;I Love Failure,&quot; an event series that has gained recognition for its candid and transformative approach to personal growth. 
Launched in 2017, &quot;I Love Failure&quot; was born from Cătălin&#39;s desire to create a space where individuals could openly share their experiences with failure, learn from each other, and ultimately turn their setbacks into stepping stones for success.
His events have grown into a proper movement, inspiring thousands to redefine their relationship with failure and embrace it as a natural part of the growth process.
Building on the success of &quot;I Love Failure,&quot; Cătălin is now venturing into the digital space with a new app focused on personal development and combating fear. This app aims to provide users with the tools and resources they need to face their fears head-on, set meaningful goals, and achieve personal and professional growth.
1. What motivated you to start &quot;I Love Failure,&quot; and how has the concept evolved since its inception?
&quot;I Love Failure&quot; started at the lowest point in my life when fear had completely taken over, and I was too scared to make any moves. I was afraid to walk too far from home and was always in fight-or-flight mode. One night, I went to a business event where I was too afraid to ask questions for fear of being noticed. During the networking session, I met an entrepreneur who, for 15 minutes, was vulnerable and shared his failure story with me. He didn’t share it as a victim but more like a storyteller. This showed me that I was not the only one who hadn&#39;t found my way yet, and it gave me the courage I needed.
That night, an idea formed in my head: what if this guy had been on stage? I think he would have inspired the whole room. So, I went home and decided to create an event called &quot;I Love Failure,&quot; where people get on stage and share their failure stories and the lessons they learned. Since that first event six years ago, our failure stories have touched ten thousand people in physical locations and millions online.
We have also started to reduce the fear of failure in companies.
2. In your opinion, why is it important for people to confront and understand their fears in the context of personal and professional development?
For any kind of growth to happen in personal or professional life, you need to have a good relationship with failure and setbacks. We are born with an &quot;I Love Failure&quot; mentality; we learn by doing, falling, and getting back up. However, along the way, we are told that we are wrong if we don&#39;t score well on a test or if we do things a certain way. As a result, our relationship with failure deteriorates, along with our ability to grow.
3. How does your new app intend to build on the principles of &quot;I Love Failure&quot; to help users overcome fear and achieve their goals?
First, users will start with a test to assess their fear of failure levels across various aspects of their lives, including professional and romantic. From there, they will be able to access failure stories categorized by topics such as romance, business, education, and many more. Users will also become part of a community that hosts numerous events where they can meet, network, and find inspiration. We will also offer masterclass courses on personal development from some of the most inspiring individuals, including CEOs, athletes, artists, and more. Courage is contagious; the more people are exposed to &quot;I Love Failure&quot; content and community, the better their fear levels should be.
4. How do you envision your app making a difference in the personal development space, especially in a market saturated with self-help tools?
Personal development means growth, and growth, as I said, comes from failure. Our app will be the first where you can measure your fear level and help you negotiate your relationship with failure. Another aspect is our events and community, which take personal growth to a whole new level.
5. What are some of the key features of your app that will set it apart from other personal development platforms?
First is our “fear measurement” feature, which helps people always know how exposure to &quot;I Love Failure&quot; impacts their growth mindset. Then there is the quality of our content and the quality of our speakers and mentors. I would also mention the online and physical community and events.
6. What challenges have you encountered in transitioning from event-based initiatives to developing a digital platform, and how have you addressed them?
We knew that this was the next logical step in having an impact on the world—the digital platform. So we planned this for some time, looking for the right timing and partners to build it and having enough content when we launch. The difficult parts are, of course, the content and development. For the content, we will launch our first studio at the beginning of next year, where we can take production to new levels. We are also expanding our conferences to more cities in Romania, as well as outside Romania in a franchise model to produce more content and grow our community. On the development side, we found the right partner who is also an &quot;I Love Failure&quot; conference organizer, so it’s a perfect match.
7. Who has been the most significant influence or mentor in your journey, and how have they impacted your approach to entrepreneurship?
This is a very hard question to answer because, at each step of the journey, you have different mentors who can guide you to the next level. If I had to choose one, it would be Dan Vidrascu from Litera and the current CEO of Voxa. Our interactions while building Voxa helped both of us grow. It was more like an exchange, not a mentorship.
8. How do you plan to attract users to your new app, and what strategies are you employing to ensure long-term engagement and value for your users?
Our first approach to user acquisition is, of course, our conferences and the companies we work with, where people will first see the speeches in our app. Also, our speakers and mentors are some of the biggest influencers in Romania, and soon the world. The value that they bring and their association with us will attract users and create long-term engagement.
9. Why should investors be interested in supporting your mission?
We are working on one of the biggest problems in the world, and our solution gives amazing, measurable results. The bigger the problem you solve, the higher the reward. I think we can become the go-to personal development app in the next few years—the &quot;Netflix of failures.&quot;
Join the live pitch with Catalin Mester on September 9th, 4PM, to learn more about how she developed the ILoveFailure solution. <a href="https://us02web.zoom.us/meeting/register/tZ0of-mupz4tEtUhYm63DyjwQNfDNRLxCJIV">Register here</a>.

Cătălin Mester, Founder of "I Love Failure" and entrepreneur 

A business around reducing fear of failure

Recharged and back to full speed with ambitious goals for the rest of the year? Join us in exploring the European future alongside the tech visionaries shaping it.
<h2 id="active-opportunities">Active opportunities</h2>
🇷🇴 VC-Backed | Gaming | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Db3e1edb67b%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C9e52d5f7c9c84f58bf6308dccb254039%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638608608097895117%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=w65CVTOO3ie8WAFFQoF824Fqr5lxuMihqmOppQjmc6o%3D&amp;reserved=0">Questo</a>, the travel startup used by 500,000 people worldwide, is raising €630,000 funding round to scale its gamified event solution.
🇷🇴 Community-Led | Personal Development | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dfb61a36840%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C9e52d5f7c9c84f58bf6308dccb254039%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638608608097937535%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=5PmYkxXR%2BKh%2FJWD1xF2CHsT4ueLYgtETjER8Wk3AwVc%3D&amp;reserved=0">I Love Failure</a> is raising €300,000 to expand its platform dedicated to personal and professional growth.
🎙️ Pitch of the Week: Flairmakers - revolutionizing the heart of hospitality. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D7b24e22659%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C9e52d5f7c9c84f58bf6308dccb254039%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638608608097959876%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=k%2Buwrk4Avom1XeR%2F%2FTX6sNrC08zHFI0gEU7fIMcN5Us%3D&amp;reserved=0">Register here</a>.
🎙️ Ask me Anything with Questo - this Wednesday. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D85a6cb66d4%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C9e52d5f7c9c84f58bf6308dccb254039%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638608608098013634%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=KMpxsCfbdjVAerZoBfO8uMfBxKMhQ5bN2cZrPaozNZE%3D&amp;reserved=0">Register here</a>. 
<h2 id="secondary-market">Secondary market</h2>
Freedom, flexibility, and control are at the forefront of every smart investor&#39;s mind. Invest or sell your ownership in <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D6e74c89d19%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C9e52d5f7c9c84f58bf6308dccb254039%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638608608098034438%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=bLRfxwCFx6f31o%2Firuw6JBYOnFWIWZqIQWz4IxeFu2Y%3D&amp;reserved=0">45 tech companies</a> with different maturity levels and no minimum ticket. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D6e74c89d19%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C9e52d5f7c9c84f58bf6308dccb254039%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638608608098034438%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=bLRfxwCFx6f31o%2Firuw6JBYOnFWIWZqIQWz4IxeFu2Y%3D&amp;reserved=0">Check the Bulletin Board. </a>
<h2 id="on-our-radar">On our radar</h2>
European versus Silicon Valley | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D90b2d25379%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C9e52d5f7c9c84f58bf6308dccb254039%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638608608098050984%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=S7F6%2FECEq%2FNkIpdle97mzCu24JTJBhI2jfsYh2%2FZ0j8%3D&amp;reserved=0">Read more</a>
Europe is falling behind on many levels, from commercialization, to risk tolerance to access to capital, and it is crucial to further address these gaps to remain competitive.
The new generation | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dc4b99bca91%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C9e52d5f7c9c84f58bf6308dccb254039%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638608608098070197%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=egJQvSDYBxEpctDqiq2N6NUJgfqgmHSktFOa%2BVLHMMk%3D&amp;reserved=0">Learn more</a>
Antler believes that the historically low number of European unicorns is closely tied to the scarcity of technical founders in the region. However, this trend is now shifting in Europe’s favor. 
Hearing sickness | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dfa3ae65862%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C9e52d5f7c9c84f58bf6308dccb254039%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638608608098088977%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=A2ht9C65EfX7pU0iGLrIQ0wc7W6trdUY0TdzW7iWy2U%3D&amp;reserved=0">Read more</a>
Given everything you’ve already heard about AI, you may not be surprised to learn that Google is among other outfits beginning to use sound signals to predict early signs of disease. 
Y Combinator finalists | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D6a65de7e30%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C9e52d5f7c9c84f58bf6308dccb254039%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638608608098113260%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=0vDmeo88gfyB5NR3DghV9XcyTzhNcthf49DWK4G%2FERI%3D&amp;reserved=0">Read more</a>
Y Combinator S24 has accepted only 10 European startups, the lowest since 2018, with 54% of the global cohort working on AI.
Podcast of the week | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Db0890cff83%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C9e52d5f7c9c84f58bf6308dccb254039%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638608608098139286%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=Tg272ErDELVE%2F5de3WcgWNuhq%2BPTfBM9T7C3kH2tImw%3D&amp;reserved=0">Tune in</a>
This week’s must-listen is The Tim Ferriss Show featuring Ray Dalio, often referred to as the Steve Jobs of investing. Ray discusses how &quot;almost everything happens over and over again through history, and the key to success is to identify which one of those it is, and see how it’s worked in the past.&quot;

Raluca Epureanu, CEO and Founder of FlairMakers, brings 18 years of distinguished experience in the hospitality industry across 16 countries and 4 continents. Having worked with global brands such as The Ritz-Carlton, JW Marriott, and Marriott International APAC Regional Office, and holding an EMBA from the University of Oxford, Raluca has established herself as a leader in the field. She founded FlairMakers to address the industry&#39;s most pressing issue: a shortage of talent. FlairMakers is the UK’s premier on-demand platform for hospitality talent, aiming to revolutionise the industry by seamlessly connecting businesses with skilled freelancers.
FlairMakers is set to transform the hospitality sector by providing a marketplace where businesses can find and hire freelancers with ease, promoting inclusiveness and reducing inequality within the industry.
1. What ‘aha’ moment led to the founding of FlairMakers?
From my early days as a frontline hospitality associate, I witnessed first-hand the invaluable contributions of talented individuals who breathed life into every corner of the industry and worked extremely hard. Yet, I also observed the systemic shortcomings that often left these very talents feeling undervalued and the challenges of running a successful hospitality business with high seasonality.
For example, while establishing a career in events, we consistently depended on temporary talent to join us during peak periods or for events with high attendance.
Traditionally, we lacked direct involvement in choosing every temporary talent for event service. Often, it felt like chance who would attend, their grooming, and service capabilities. Additionally, guests couldn&#39;t differentiate between full-time and temporary talent. Guest feedback, collected through satisfaction surveys and social media, highlighted challenges despite our internal training efforts. Maintaining high scores for &quot;staff service&quot;(and high guest satisfaction) remained an ongoing struggle.
Therefore, understanding the seasonality of our hospitality businesses, recognising the necessity for temporary talent alongside (and not instead!) full-time and part-time talent, and managing the intricate processes of recruitment and retention while upholding motivation and reducing turnover resonate deeply with anyone experienced in running a hospitality business.
During these intense conversations, FlairMakers was born. 
2. What was your drive back then, and what change did you aim to make?
When I started FlairMakers, my drive stemmed from a deep-rooted passion for the hospitality industry and a profound understanding of its challenges. Having spent years in various hospitality roles, I witnessed firsthand the struggles faced by both businesses and professionals. The industry was plagued by a shortage of skilled temporary talent, leading to stress &amp; diminished service quality.
My aim is to create a solution that addresses these pressing issues. I envisioned a platform that could bridge the gap between hospitality businesses in need of flexible, short-term freelancers and professionals seeking opportunities for growth and development. I want to empower hospitality freelancers by providing them with higher income, career development opportunities, and a sense of belonging within a supportive community.
3. How does FlairMakers&#39; platform contribute to the hospitality market, and what specific market gap does it address?
FlairMakers addresses the talent shortage in the hospitality industry by attracting two main groups: experienced hospitality professionals who prefer not to work full-time and individuals from other industries seeking additional income, including underserved groups and students. By offering flexible, well-paid engagements, the platform taps into these diverse talent pools, ensuring a steady supply of freelancers while providing opportunities for those who need flexible work arrangements.
FlairMakers addresses inconsistent service quality by implementing a robust rating system and investing in training for freelancers. The rating system ensures that only top-performing professionals are recognized and rewarded, allowing businesses to choose high-quality talent. Additionally, FlairMakers invests in training to upskill freelancers, enhancing their ability to deliver consistent great service.
Fundamentally, FlairMakers is addressing two key issues in the hospitality industry: a shortage of skilled talent and inconsistent service quality.
4. How do you scale FlairMakers’ business model?
To scale FlairMakers, the focus is on two key strategies:
<ul>
<li>Geographical Expansion for in-person engagements: Targeting countries with strong hospitality sectors (such as Spain, France, Greece), FlairMakers will establish a local presence to meet the demand for skilled freelancers, ensuring compliance with local regulations and practices. To accelerate this expansion, pursuing mergers and acquisitions of small regional players in the field is a strategic option.</li>
<li>Global Expansion for remote engagements: By enabling global engagements, such as an event planner in Dubai working for a hotel in London, FlairMakers expands its reach and offers businesses access to top-tier talent worldwide, regardless of location, thus enhancing its global footprint.</li>
</ul>
Viewing talent globally, rather than locally, is essential in today’s interconnected world. This approach addresses labor shortages by accessing a diverse, specialized talent pool beyond local limits. As remote work grows, leveraging global talent will be key to driving innovation, resilience, and sustainable growth.
5. How does FlairMakers guide and empower hospitality businesses and freelancers to make informed decisions about their engagements?
FlairMakers guides and empowers hospitality businesses and freelancers through several key features designed to facilitate informed decision-making:
<ul>
<li>Transparent Engagement Details: The platform provides detailed information about each engagement, including job requirements, expected tasks, and compensation. This transparency allows freelancers to evaluate whether a gig aligns with their skills and preferences, while businesses can clearly outline their expectations to attract suitable candidates.</li>
<li>Personalised Notifications: The platform analyses the backgrounds of freelancers and automatically sends notifications to those whose experience aligns with the requirements of newly posted gigs. This ensures that freelancers with the most relevant skills are informed about opportunities that match their expertise, increasing the likelihood of successful engagements.</li>
<li>Comprehensive Rating System: FlairMakers implements a robust rating system where both businesses and freelancers can evaluate each other after each engagement. This system ensures transparency and helps users make decisions based on the performance and reliability of potential partners. High ratings and positive reviews build trust, allowing businesses to select top-rated freelancers and freelancers to choose reputable businesses.</li>
</ul>
6. How do you envision FlairMakers&#39; future growth?
I envision FlairMakers&#39; future growth as a strategic expansion driven by two key pathways: global reach and technological innovation.
<ul>
<li>Global Reach: FlairMakers will expand into markets with strong hospitality sectors but talent shortages, adapting services to local needs. One way of doing this is through M&amp;A as there are a lot of small traditional players.</li>
</ul>
More than this, by leveraging the trend of globalization of talent—viewing the global market on a local scale—FlairMakers will connect freelancers with opportunities worldwide. For example, a Michelin-starred chef from France could remotely design a hotel&#39;s restaurant menu in London, train the kitchen staff virtually, and then fly in to oversee kitchen operations during the hotel&#39;s first week, ensuring culinary excellence.
<ul>
<li>Technological Innovation: Continued investment in AI, data analytics, and a user-friendly platform will drive scalable growth, offering personalized job matches and empowering informed decisions for both freelancers and businesses. This adaptability will ensure FlairMakers remains competitive in a dynamic market.</li>
</ul>
<ol start="7">
<li>What are potential exit scenarios for investors supporting FlairMakers?</li>
</ol>
Potential exit scenarios for investors supporting FlairMakers could include the following:
<ul>
<li>Acquisition by a larger player (potential time frame 2 years): FlairMakers could be an attractive acquisition target for larger companies in the hospitality, HR tech, or other gig economy players. For example, big hospitality job boards might seek to acquire FlairMakers to integrate its platform and expand its service offerings, particularly if they are looking to enhance their talent solutions or enter new markets.</li>
<li>Secondary buyout (potential time frame 2 -4 years): A private equity firm or another investor buys out the current investors. This is our preferred strategy.</li>
<li>Initial public offering - IPO (potential time frame above 5 years): As FlairMakers scales globally and achieves substantial market penetration, an IPO could be a viable exit strategy. Going public would provide liquidity to investors and could help raise additional capital for further expansion.</li>
</ul>
These exit strategies provide solid avenues for investors to realize returns on their investments, depending on the company’s growth trajectory and market conditions.
8. Do you have a mentor or figure whom you admire and draw inspiration from?
Yes, I have several mentors who have deeply influenced my journey, starting with my family. My mother taught me resilience and the importance of empathy in leadership, while my father instilled in me the value of hard work and integrity. Both of my grandmothers showed me the power of perseverance and creativity, especially in the face of adversity. Their wisdom has been a guiding force throughout my life.
Beyond my family, I also admire the highly successful entrepreneurs &amp; experts who are part of the FlairMakers advisory board, known for their excellence, business acumen, and boundary-pushing in tech and hospitality. They continue to inspire me to evolve FlairMakers and stay ahead in the industry. As I stand on the shoulders of giants, I&#39;m able to see so many opportunities that once seemed out of reach. For this, I am deeply grateful.
9. Why should investors consider being part of FlairMakers&#39; journey?
When considering being part of FlairMakers&#39; journey investors should focus on market demand, scalability, social impact, and the exit strategy:
<ul>
<li>Market Demand: FlairMakers is addressing a significant and persistent market need for the hospitality world. We are offering a product for which we don’t need to generate the demand per say; it exists and it is global (up to £52bn).</li>
<li>Scalability: The business model of FlairMakers is designed for scalability. As the company grows, the marginal cost of adding new customers or expanding into new markets is low, meaning that profitability can increase significantly as the company scales, making it an attractive investment opportunity.</li>
<li>Social Impact: FlairMakers, a woman-founded and woman-led company, is dedicated to promoting equality through fair pay (performance-driven freelancers rates), career growth (investing in the service education and development of freelancers), and inclusion for all (welcoming talent from all walks of life). We focus on tackling illegal labor, ensuring fair compensation, promoting diversity, providing training, and practicing responsible sourcing. This commitment to social impact enhances consumer preference, reduces customer acquisition costs, and builds long-term loyalty, strengthening the company’s market position and revenue potential.</li>
<li>Exit Strategy: Investors have a compelling exit strategy with FlairMakers, with the potential for up to 10X returns. The company is strategically positioned for an acquisition by a larger player in the industry, or it may pursue an IPO as it scales. The combination of strong market demand, a scalable business model, and social impact makes FlairMakers an attractive target for acquisition. </li>
</ul>
In essence, FlairMakers offers a rare blend of addressing high market demand, scalability, meaningful social impact, and a lucrative exit strategy, making it a compelling investment for those looking for significant returns.
Join the live pitch with Raluca Epureanu on September 2nd, 4PM, to learn more about how she developed the FlairMakers solution. <a href="https://us02web.zoom.us/meeting/register/tZMtd-ugqDwuGtb8LxiwR9OnwOP9HfE5BRsl">Register here</a>.

In this interview, Raluca Epureanu, CEO and Founder of FlairMakers, shares her journey in creating a platform that addresses the talent shortage in the hospitality industry.

Shaping the future of hospitality talent: insights from Raluca Epureanu, CEO & founder of FlairMakers

Florina Popirtac, CEO and Co-founder of Spark Generation leads a visionary team dedicated to transforming education and creating a meaningful impact. With over 15 years of experience across various industries and an MBA in service innovation, Florina combines creativity, strategic thinking, and a passion for making a difference in learning and teaching. In her role, she spearheads efforts to revolutionize educational experiences for students and educators alike.
Spark Generation is a B2B SaaS marketplace that delivers personalized learning and teaching solutions to students. The learning platform has more than 55 courses built in and features to create an experience between students, teachers, and the platform, such as Virtual Assistants, Adaptive Assessments, and Automated Grading. Spark Generation’s solution will analyze students&#39; learning patterns and preferences to deliver personalized learning experiences, adapting content and pacing to individual needs. 
1. What notable achievements has Spark Generation accomplished in the past year?
Over the past few years, we&#39;ve made significant strides across various facets of our platform. We achieved intellectual property (IP) at Cambridge IGCSE and A levels for over 55 subjects, enabling us to offer fully digital courses. Our innovation and educational contributions have garnered recognition from esteemed organisations, earning accolades such as the EIC Seal of Excellence, Cambridge Accreditation, and awards like &quot;Best Innovation in Romania&quot; and &quot;Ruxandra - The Woman That Changes Education.&quot; We successfully launched an MVP for our Learning Management System (LMS), further enhancing the platform&#39;s capabilities. Our substantial 3X revenue growth over the past three years underscores strong market demand and financial sustainability. We have expanded into new markets and regions, now serving users in 25 countries with a solid Annual Recurring Revenue (ARR) of $0.7M and tapping into a vast Total Addressable Market (TAM) of $23B.
Additionally, over 9,000 students from 85 schools are enrolled on our platform. We&#39;ve strengthened our team with top talent in education, technology, and business development to further drive innovation and growth. Strategic partnerships with leading educational institutions and industry players such as Educate Online, Franklin Covey Education, COBIS (Council of British International Schools), G30 Schools, and Banca Transilvania have enhanced our offerings and extended our reach. We&#39;ve also continuously improved our learning platform with features like AI assistants, Automated Grading, and Automated Assessments, based not only on user feedback and market trends but also on our unwavering commitment to providing an optimal learning experience, ensuring our users feel valued and integral to our success.
2. What excites you most about the current developments?
What excites me most about the current developments is how we&#39;re advancing the integration of AI to revolutionize education.
Personalized Learning is at the forefront. Our AI algorithms analyze students&#39; learning patterns and preferences to deliver highly customized educational experiences, adjusting content and pace to fit individual needs.
The progress in Predictive Analytics is also incredibly exciting. Our enhanced AI-powered tools can now analyze student behavior, performance, and engagement data to predict future outcomes, identify at-risk students, and inform timely interventions.
Lastly, the innovation in Content Creation and Recommendation stands out. We’re leveraging AI to generate and curate educational content tailored to students&#39; interests and learning goals, such as interactive simulations, videos, and learning materials. This makes learning more engaging and effective, and it&#39;s thrilling to see how these advancements will shape the future of education.
3. What feedback have you received from your clients about Spark Generation&#39;s platform, and how has it influenced your approach?
Our clients, including students, schools, and educational stakeholders, have provided us with invaluable feedback, significantly influencing our approach. For instance, teachers requested more efficient ways to handle student assessments, leading us to develop and integrate Automated Assignments into our platform. They also highlighted the need for streamlined grading processes and more effective ways to provide timely feedback, a common challenge they faced.
By incorporating Automated Assignments, we were able to address these needs directly. The feature allows for the automatic grading of assignments, freeing up teachers’ time to focus more on personalized instruction and student engagement. This enhancement not only meets educators&#39; requests but also improves the overall efficiency of the assessment process, making it easier for teachers to manage their workload and provide more meaningful feedback to students.
This feedback-driven development reflects our commitment to co-creating with our users. By actively involving teachers and educational stakeholders in the design process, we ensure that Spark Generation continues to evolve in ways that deliver genuine value and address the practical needs of our academic community.
4. How have angel investors supported Spark Generation on its journey, and what is their role in your growth strategy?
Angel investors have been pivotal in Spark Generation&#39;s journey and growth strategy. From the outset, they provided crucial early-stage funding that enabled us to develop our platform, establish our initial market presence, and validate our business model. Their financial support allowed us to invest in critical areas such as technology development, product enhancement, and market expansion.
Beyond capital, angel investors have contributed invaluable mentorship and strategic guidance. Their experience and networks have helped us navigate the challenges of scaling a tech-driven educational platform, refine our business strategy, and forge essential partnerships. They have also offered insights into market trends and best practices, which have been instrumental in shaping our growth trajectory.
5. What are your plans for Spark Generation over the next 2-3 years, and how do you intend to achieve them?
Over the next 2-3 years, Spark Generation is set to embark on an ambitious expansion plan and technological advancement. We aim to scale significantly, targeting over 100,000 users and establishing partnerships with more than 1,500 schools by the end of 2027. This growth will be supported by our strategic entry into the Asian and U.S. markets, enhancing our global footprint.
In parallel with this expansion, we will advance our technology to enrich our platform further. Our Personalised Learning initiatives will see improvements in AI algorithms that analyze students&#39; learning patterns and preferences, enabling even more customized &amp; tailored educational experiences. We will also enhance our predictive analytics capabilities by using AI-powered tools to analyze student behavior and performance data better to predict outcomes, identify at-risk students, and guide interventions. Additionally, we will focus on Content Creation and Recommendation, employing AI to generate and curate interactive simulations, videos, and learning materials tailored to students&#39; interests and goals. As part of our commitment to comprehensive education, we will integrate Continuous Professional Development (CPD) for educators, ensuring that teachers benefit from ongoing training and resources.
6. What are potential exit scenarios for investors supporting Spark Generation?
For investors supporting Spark Generation, several potential exit scenarios offer opportunities to realize returns on their investment. The company could be acquired by a more significant player in the education or technology sector (Pearson Education, Inspired Group), providing a direct sale opportunity. Alternatively, an Initial Public Offering (IPO) could allow investors to sell their shares on the public market. At the same time, a merger with another entity might create additional value and provide a profitable exit. Investors could also consider a secondary sale, selling equity stakes to other private investors or firms. A management buyout (MBO) might enable the current leadership to purchase investor shares, and an Employee Stock Ownership Plan (ESOP) could offer another exit route if employees acquire ownership.
7. Do you have a mentor or figure you admire and draw inspiration from?
Yes, I draw significant inspiration from Gary Zukav. His work resonates deeply with me, particularly in personal transformation and understanding the deeper aspects of human consciousness. Zukav&#39;s insights into aligning personal values with professional goals, and his emphasis on authentic leadership and spiritual growth, offer profound guidance. His perspective helps me navigate the challenges of leading and innovating at Spark Generation, fostering a more holistic approach to personal and organizational development. I strive to integrate his teachings on embracing a higher purpose and creating a meaningful impact into our company&#39;s mission and vision.
8. Why should investors consider being part of Spark Generation&#39;s journey?
Investing in Spark Generation provides an opportunity to be part of a rapidly growing tech company with a scalable platform designed to meet global educational needs. Our innovative approach, including AI-driven features, positions us as leaders in personalised learning and educational technology. With a diversified revenue model that includes B2B and B2B2C subscriptions, we offer financial stability and risk mitigation. As an early-stage investor, you gain access to substantial growth potential and the chance to capture a significant market share. Your investment also contributes to transforming education by improving student outcomes and supporting teachers, while strategic partnerships enhance our industry credibility. Our well-defined exit strategy, with options for acquisition, merger, or IPO, ensures a clear path to realising returns on investment.
<a href="https://investors.seedblink.com/invest/spark-generation/261">Explore the opportunity on SeedBlink.</a>

Discover how Spark Generation, a start-up founded by three female entrepreneurs, empowers students with innovative tools and courses and explore this start-up's potential growth and impact.

Innovating education through technology - Insights from Florina Popirtac, CEO & Co-founder of Spark Generation

Tech Investors Academy, powered by SeedBlink, is an English-only hybrid learning program designed for all investors registered on the SeedBlink platform who want to enhance their venture capital knowledge. 
The third learning module of Tech Investors Academy by SeedBlink focused on Cross-border Investment strategies. We discussed what this means for investors, how to build cross-border networks, the main benefits, and more. 
This session was led by <a href="https://www.linkedin.com/in/robbin-hoogstraten/">Robbin Hoogstraten</a>, the Regional Director for Benelux at SeedBlink and founder of Symbid. Robbin was joined by <a href="https://www.linkedin.com/in/willem-hulsink-627497/">Willem Hulsink</a>, a lecturer and researcher at the <a href="https://www.rsm.nl/">Rotterdam School of Management</a>, specializing in international entrepreneurship and entrepreneurial finance. 
<h2 id="what-you-need-to-know-about-cross-border-investments">What you need to know about cross-border investments</h2>
From their discussion, we have unpacked the most important things you should know to learn about different round types and the legal conditions each of them has.
Cross-border investments refer to investments made by individuals or companies across national borders. This type of investment is important for several reasons:
<ul>
<li>Portfolio diversification: Investors can <a href="https://seedblink.com/en/2022-02-16-portfolio-diversification">diversify their portfolios</a> and reduce their overall risk by investing in different countries. Economic conditions and market trends can vary significantly across regions, and investing across borders can help mitigate the impact of local market fluctuations.</li>
<li>Access to new opportunities: Cross-border investments allow investors to access a wider range of opportunities that may not be available in their domestic market. These include emerging markets, innovative technologies, or more developed industries in other countries.</li>
<li>Global growth: As the world becomes more interconnected, cross-border investments can expose investors to the growth and development of the global economy. By investing in companies or assets in different countries, investors can potentially benefit from the economic growth and expansion of these markets.</li>
</ul>
When considering cross-border investments, start by evaluating the company and its founders. Are they already active internationally and looking to expand further? 
If so, they may need a special investor from the target country who can provide strategic insights and capitalize on local opportunities. 
mentioned <a href="https://www.linkedin.com/in/willem-hulsink-627497/">Willem Hulsink</a>, a lecturer and researcher at the <a href="https://www.rsm.nl/">Rotterdam School of Management</a>
A company with some international investor support may offer a more promising potential for high returns and fewer risks than one seeking its first foreign backer. In contrast, a new company seeking additional finances might be in survival mode, with limited opportunities and a high burn rate.
One factor influencing this is the experience and knowledge of founding or management teams in internationalizing companies. Lacking specialists and comprehensive research, these startups are not yet multinationals, and often, the founders handle the internationalization process while juggling other responsibilities. 
Companies that have already worked with foreign venture capitalists and have a presence in foreign markets present a different scenario. Investors, in such cases, can be more relaxed and strategic, asking detailed questions and expecting the company to hire specialists to go international.
Additionally, a startup or scale-ups maturity level significantly impacts cross-border investments, as these companies operate within frameworks different from those of domestic pre-seed or seed-round companies. 
In countries like the Netherlands, investors might set up a stock entity to combine multiple investors into one, but different countries have different frameworks that can affect investment opportunities. 
mentioned <a href="https://www.linkedin.com/in/robbin-hoogstraten/">Robbin Hoogstraten</a>, the Regional Director for Benelux at SeedBlink
<h2 id="cross-border-investments-in-2024">Cross-border investments in 2024</h2>
Cross-border connections with startups in cities like Berlin, Paris, and London are becoming more accessible, and venture capitalists are increasingly investing in these cities. 
Different European initiatives are facilitating this trend despite setbacks like Brexit, which has introduced export and legal barriers, particularly affecting SMEs in sectors like horticulture.
The current landscape shows increased connectivity and investment activity within Europe, driven by ongoing integration efforts. Entrepreneurs and investors benefit from these developments, enabling smoother cross-border operations and investments. 
Familiarity with different frameworks and cultures is growing, fostering a more collaborative and integrated European market.
mentioned <a href="https://www.linkedin.com/in/willem-hulsink-627497/">Willem Hulsink</a>, a lecturer and researcher at the <a href="https://www.rsm.nl/">Rotterdam School of Management</a>
The US sees rapid internationalization with startups like Airbnb and Uber, termed &quot;blitz scalers.&quot; These companies quickly achieve global reach, often with initial backing from US investors and later support from other regions like the Middle East.
However, European integration continues to strengthen, allowing entrepreneurs and investors to move more freely and become familiar with each other’s cultural and regulatory frameworks. 
__
<h2 id="understand-current-macroeconomic-challenges">Understand current macroeconomic challenges</h2>
Startups face <a href="https://seedblink.com/en/2022-03-29-investing-in-uncertain-times">several macroeconomic challenges</a> that can significantly impact the companies and the investors involved. 
Government programs, such as grants for incubators and accelerators, and European fundraising support have contributed significantly in the past years to developing the venture ecosystem. However, recent cuts across different countries and even at the European level can influence the growth of startups or investors raising new funds.
Additionally, fluctuating interest rates influence investment exits and sales, affecting the overall investment strategy. Policies on intellectual property rights and technology transfers, along with corporate governance structures, are other elements with a possible strong influence. 
These factors create a complex environment that requires startups and investors to adapt to constant changes and navigate new regulatory landscapes. 
&quot;There are always incidents at universities or excessive bureaucracy to contend with. 
Corporate governance is also a key issue—whether the board is one-tier or two-tier and how easily you can hire or fire personnel. These aren&#39;t easy topics to navigate, often requiring consultation with lawyers, experts, or consultants, or seeking help from your embassy to connect with specialists.&quot;
mentioned <a href="https://www.linkedin.com/in/willem-hulsink-627497/">Willem Hulsink</a>, a lecturer and researcher at the <a href="https://www.rsm.nl/">Rotterdam School of Management</a>
__
<h2 id="adapt-your-due-diligence-process">Adapt your due diligence process</h2>
Another aspect that startups and investors must consider in the cross-border fundraising process is <a href="https://seedblink.com/en/2024-06-20-a-guide-on-how-to-prepare-for-due-diligence-when-fundraising">due diligence</a>, which involves more than just evaluating a startup&#39;s viability. 
When considering cross-border investment strategies, Willem mentioned two key concepts: 
<ul>
<li>the &quot;liability of foreigners.&quot; </li>
<li>the &quot;liability of outsiders.&quot;</li>
</ul>
Cross-border investments include understanding regulatory requirements, cultural differences, and personal <a href="https://seedblink.com/en/2024-06-19-shareholders-and-stakeholders-in-your-cap-table">compatibility among stakeholders</a>. Startups entering new markets must recognize the challenges of being outsiders, including language barriers, legal differences, and cultural nuances. 
Investors, in turn, need to assess whether startups are prepared for international markets and have the necessary support systems. This thorough evaluation helps mitigate risks associated with international expansion and ensures a smoother transition into new markets.
“We call this liability of foreigners. From the startup&#39;s perspective, entering a new country and meeting a new investor brings the risk of failure in internationalizing. 
As an outsider trying to become an insider, you might need to collaborate with a partner, investor, supplier, or distributor. Both investors and startups must create a network of supporters or companies to back them.” 
mentioned <a href="https://www.linkedin.com/in/willem-hulsink-627497/">Willem Hulsink</a>, a lecturer and researcher at the <a href="https://www.rsm.nl/">Rotterdam School of Management</a>
__
<h2 id="the-role-of-communities-hubs-and-clusters">The role of communities, hubs, and clusters</h2>
Strategic hubs are crucial for startups seeking investors, especially those engaging in cross-border investment strategies. 
Notable clusters like Cambridge, Stockholm, Helsinki, Amsterdam, Berlin, and Paris have established themselves as centers of entrepreneurial activity, attracting investors due to their track records of success. A clustering effect means successful hubs continue attracting more investment, while regions without such networks may lag. 
Clusters need specialization.
Successful clusters often rely on strong universities with excellent technology transfer and commercialization policies, which can generate a steady flow of new technologies and spin-offs. Large companies in these clusters can also support the ecosystem by creating opportunities for former employees or partnering with startups.
“Certain regions may focus on sectors like FinTech, semiconductors, or software. For example, the semiconductor industry in Saxony attracts investments from companies like Intel due to its strong specialization.”
mentioned <a href="https://www.linkedin.com/in/willem-hulsink-627497/">Willem Hulsink</a>, a lecturer and researcher at the<a href="https://www.rsm.nl/"> Rotterdam School of Management</a>
However, there is a risk of over-specialization, which can lead to lock-in. These clusters must remain dynamic by attracting young entrepreneurs and new investors abroad. They are expanded by the presence of universities that develop the right talent, especially for tech-heavy industries. 
Investors with expertise in specific verticals often focus on clusters where their knowledge can be effectively utilized, ensuring they add value beyond just capital. 
__
<h2 id="stay-connected">Stay connected!</h2>
<a href="https://seedblink.com/newsletter">Subscribe to our newsletter </a>and stay tuned for similar updates and insights into European startup news, equity trends, VCs, and investment opportunities.

Learn about cross-border investment strategies and how to diversify your portfolio with international investments. Insights from Tech Investors Academy by SeedBlink. 

Portfolio diversification 101: How to include cross-border investment strategies in your portfolio. 

The legal or financial terms used in fundraising can be intimidating initially, especially for early-stage startups and entrepreneurs. When you bring your startup to investors, you must understand their language and the wording used in private equity and venture capital.
This article will explain what a term sheet is, why it differs from other investment documents, and what you need to know about it.
<h2 id="what-is-a-term-sheet">What is a term sheet?</h2>
Practically all venture capital/private equity transactions start out with the execution of a term sheet. A term sheet is an agreement that outlines the basic terms and conditions of the investment. It also sets out the structure of the transaction, the parties involved, the timelines for due diligence, and the deadline for the closing. 
The term sheet sets the groundwork for ensuring that both parties are on the same page regarding the investment and helps to prevent misunderstandings later in the negotiation process. 
It typically includes details about investment amount, equity stake, voting rights, and other key terms governing the relationship between the investors and the company. A term sheet covers the main financing aspects and facilitates the execution of the final transaction documents, serving as a template or the starting point for other detailed, <a href="https://seedblink.com/en/2021-12-20-understanding-the-term-sheet-the-power-of-collective-negotiation-seedblink-talks-with-andrei-h%C3%A2ncu-general-counsel-seedblink">legally binding documents</a> (e.g., SSHA).
A term sheet is typically signed after preliminary discussions between the investor and the company (once both parties agree on the terms) and before the commencement of detailed due diligence. It helps solidify investors&#39; understanding of the potential return on investment. It shows the principal components for the proposed investment, such as commercial terms (e.g., the investment amount, <a href="https://seedblink.com/en/2024-05-07-startup-valuation-understanding-409a-83b-bspce-and-hmrc">the company&#39;s valuation</a>, the equity the investors will receive), and any investors’ rights and protection they might have (e.g., liquidation preference, pre-emption rights, lock-up period, reverse vesting, drag along/tag along, put option, right of first refusal). 
<img src="/img/screenshot-2024-08-19-154950.png" alt="">
Source: <a href="https://www.hsbcinnovationbanking.com/en-gb/campaigns/venture-capital-term-sheet-guide-2024">Venture Capital Term Sheet Guide 2024 by HSBC Innovation Banking</a>
For example, the liquidation preference right determines who gets paid first and how much they get paid in case of exit events (e.g., sale of the company, transfer, disposal, or similar, of all or substantially all of the shares or assets in the company, liquidation, dissolution or winding-up of the company). 
The term sheet also outlines governance rights, such as your involvement in the company&#39;s decision-making, board composition (the investors usually require a board seat), and information rights, as well as any restrictive covenants applicable to the company’s founders.
On the other hand, a term sheet helps companies understand what they&#39;re giving up in exchange for the investment during the fundraising process. It details how much the equity of the company&#39;s existing shareholders will be diluted by bringing on the investor. 
The valuation determines your company&#39;s worth, and future funding rounds could further dilute your ownership. 
Look at these points to ensure you <a href="https://tech.seedblink.com/equity">manage your equity efficiently</a> through multiple fundraising rounds and maintain enough control over the company&#39;s direction.
<h2 id="what-does-a-term-sheet-look-like">What does a term sheet look like?</h2>
The most important components of a term sheet are:
<ul>
<li>Parties</li>
<li>Current capitalization table</li>
<li>Closing schedule &amp; terms</li>
<li>Commercial terms</li>
<li>Representations &amp; warranties</li>
<li>Confidentiality</li>
<li>Miscellaneous</li>
<li>Investor rights / Investor protection</li>
</ul>
Y Combinator also has a<a href="https://www.ycombinator.com/series_a_term_sheet"> good example</a> of what a term sheet template for a Series A round should look like. 
<img src="/img/screenshot-2024-08-14-165143.png" alt="">
Source: <a href="https://www.ycombinator.com/series_a_term_sheet">Y Combinator - Series A Term Sheet Template</a>
Now, let’s closely examine each of these elements as reflected in the Y Combinator template to understand their meaning and what you should know about filling them in.
<ul>
<li>Investment amount: The amount of money the investor is willing to invest in the startup.</li>
<li>Valuation: The pre-money (company valuation before investment) and post-money valuation (pre-money valuation + investment amount) of the startup.</li>
<li>Liquidation preference: A clause that determines the order and amount of payments to preferred shareholders in the event of a liquidation event, such as the sale, merger, or dissolution of the company. It specifies the priority of returns, ensuring that preferred shareholders are paid before common shareholders.</li>
<li>Dividends: These are the payments made to shareholders out of the company&#39;s profits or reserves.</li>
<li>Voting rights: The rights and privileges that shareholders have in voting on corporate matters. These rights determine how much influence shareholders have over the company&#39;s decisions, including the election of directors, approval of major corporate actions, and other significant business matters or reserved matters.</li>
<li>Drag-along: A provision that allows majority shareholders to compel minority shareholders to join in the sale of the company under the same terms and conditions. This right ensures that if the majority shareholders decide to sell their stake, the minority shareholders must also sell their shares, facilitating a smoother and more straightforward sale process.</li>
<li>Board: The number of board seats that the investor will have and who will fill those seats.</li>
<li>Vesting: The period of time over which the employees’ shares will vest in case of an employee stock option plan or a specified period during which founders cannot leave the company in the case of reverse vesting.</li>
</ul>
<h2 id="what-does-the-structure-of-a-term-sheet-include">What does the structure of a term sheet include?</h2>
The structure of a term sheet can vary depending on the terms agreed upon between the parties. However, a few key terms are important and should be taken into account.
Let’s briefly tour the core components a term sheet should have!
Parties
Any document starts with the details of each part involved in the fundraising process, where you describe the target company, any existing shareholders, details about the founders, and details about investors. 
Current capitalization table
A<a href="https://seedblink.com/en/2023-04-07-managing-startup-equity-what-is-a-cap-table-and-why-you-need-one"> cap table </a>captures the current &amp; envisaged capital structure and percentage of shares. For example, Founder A has a 50% stake, and Founder B has a 50% stake. When an investor joins, you need to know where everyone is staying and how much ownership percentage each part gets in view of the current round. 
As an industry standard, <a href="https://www.hsbcinnovationbanking.com/en-gb/campaigns/venture-capital-term-sheet-guide-2024">HSBC Innovation Banking</a> recommends that founders include a cap table in the term sheet and create an exit waterfall that takes the cap table and evaluates the distribution to different shareholders’ classes, liquidation preferences, and priority stakes.
Closing schedule and terms
This section usually captures the tentative closing date and any other additional conditions or terms that ensure the protection of all stakeholders.
These terms state what needs to happen and when before the closing and may refer to the<a href="https://seedblink.com/en/2024-06-20-a-guide-on-how-to-prepare-for-due-diligence-when-fundraising"> due diligence process</a> run by investors, which covers a few basic legal, financial, and technical checks on the company and its founders. These terms are further detailed in the transaction documents and can be found as conditions precedent prior to closing (conditions that must be satisfied by a party to the transaction; otherwise, the other party is not obligated to close the transaction).
Commercial terms
It covers all the commercial elements required for the funding process and contains the following:
<ul>
<li>The pre-money valuation of the company which raises the funding.</li>
<li>The price per share is the pre-money valuation divided by the company&#39;s total number of issued (outstanding) shares.</li>
<li>The structure of the financing and how much money each party will bring.</li>
<li>The post-money valuation includes the pre-money company’s valuation plus the new investment amount.</li>
</ul>
Representations &amp; Warranties
This section includes key elements (e.g., regarding the company&#39;s corporate status), which the company states here but has not yet been officially proven (the proof usually comes later, during the due diligence process).
These statements are made by the parties involved (usually the company and its founders) to assure the investors about the accuracy of certain facts (legal and business aspects, which will be further detailed in the transaction documents) and the condition of the company at the time of signing the term sheet.
Diversity
Founder diversity has become a new section of European term sheets in the last few years, and according to <a href="https://www.hsbcinnovationbanking.com/en-gb/campaigns/venture-capital-term-sheet-guide-2024">HSBC Innovation Banking’s</a> report on term sheets, it has increased from 1% in 2021 to 11% in 2023.
<img src="/img/screenshot-2024-08-14-165524.png" alt="">
Source: <a href="https://www.hsbcinnovationbanking.com/en-gb/campaigns/venture-capital-term-sheet-guide-2024">Venture Capital Term Sheet Guide 2024 by HSBC Innovation Banking</a>
Confidentiality
While the term sheet document is usually a non-binding agreement, all parties involved are expected to maintain the confidentiality of the investment and not disclose any sensitive information without the investor’s approval.
Miscellaneous
This section usually covers any terms about the marketing and communication activities connected with the funding, possible trademarks for the company, or other information about the startup’s obligations to protect the investors.
If previously agreed upon, the time frame after the document expires can also be mentioned.
Investor rights &amp; Investor protection
Another important section introduces the type of rights and protection investors will have after joining the funding round. 
The list below covers some of the standard and essential ones:
<ul>
<li>Pre-emption rights — are the most important from a commercial perspective and refer to opportunities for existing investors to join future financing rounds. It does not mean that investors should invest more money, but they have the right to maintain their ownership if they want.</li>
<li>Down-round protection — refers to the company&#39;s value decreasing after the initial investment, one of an investor&#39;s greatest fears. The company protects the investor by allocating additional shares for the shareholder to obtain such shareholding as if having made the initial investment round at the new subscription price per share agreed for the subsequent down-round.</li>
<li>The lock-up period — refers to an interval after a new investment round when the company&#39;s founders cannot sell their shares. The company&#39;s dependency on the founders will decrease in time, but typically, the founders are committed to staying and contributing for a certain period after the investment.</li>
<li>Reverse vesting — brings a sensitive clause that protects the investment if the founders decide to step down. This clause means that founders accept not to have access to their shares until the lock-up period ends. Like vesting, they get access to a specific percentage each year, so the investors can buy the unvested shares if the founders leave.</li>
<li>Right of first refusal — if a shareholder wants to sell their shares, investors and the other shareholders can buy them on the same terms, pro-rata. In this case, the investor (together with the other shareholders) is the first to get the news and has a specific time frame to decide.</li>
<li>Drag along — defined as an obligation, all shareholders in a company have to sell their shares on the same terms, pro-rata, to the same acquirer in case the majority shareholder wants to sell. It protects everyone from small shareholders who refuse to sell their shares in an acquisition offer, blocking the deal for everyone else.</li>
<li>Tag along — defined more as a right, this allows minority shareholders (including investors) to sell their shares to the same acquirer on the same terms in case the shareholders want to sell them.</li>
<li>ESOP — ESOP means <a href="https://tech.seedblink.com/esop-management">employee stock option plan</a>, and its mention in a term sheet document ensures that the company will establish one after the investment. ESOP is mandatory to retain and incentivize team members.</li>
<li>Put option — it gives holders of the option the right, but not the obligation, to sell a specified amount of their shares at a specified price within a specified time frame. This means that investors can exit the company whenever they want; for example, it can be agreed that the investors have a put option right, according to which founders must buy all the investor’s shares for the nominal value. </li>
<li>Reserved matters — investors don’t want to interfere with founders&#39; decisions and day-to-day operations but have a list of decisions or voting rights they could use; these are reflected as actions that the company, its directors and shareholders must not do without the explicit approval of the investors or by at least a certain proportion of specific persons. </li>
<li>Restrictive covenants — a clause that protects the company by ensuring that if founders leave, they cannot start a competing company or take employees to another firm. It covers both the investment and the other co-founders. The restrictive covenants apply for the duration of the founder’s employment with the company, typically 24 months after it expires.</li>
<li>Information rights — This part ensures that investors have the right to receive regular status updates from the company, such as quarterly reports based on a template provided by investors or any information about the business and a potential new financing round.</li>
</ul>
<h2 id="how-to-negotiate-a-term-sheet-with-your-investors">How to negotiate a term sheet with your investors</h2>
Negotiating a term sheet sets the stage for the future relationship between the investors and the company, outlining the terms and conditions of the investment. A well-negotiated term sheet can provide the necessary capital while ensuring founders have enough control and equity to drive the company&#39;s growth.
One of the most important aspects of negotiating a term sheet is to understand your company&#39;s valuation. The valuation will determine how much equity you must give up in exchange for the investment. 
Control rights, which include board composition, voting rights, and protective provisions, are another critical area of negotiation. Founders should aim to keep enough control to make decisions without excessive interference from investors. 
Finally, founders should pay close attention to important rights such as liquidation preferences, anti-dilution provisions, and dividends. These terms can significantly impact the founders&#39; and <a href="https://seedblink.com/en/2024-05-14-guide-to-employee-stock-option-plans-esops">early employees&#39; equity </a>in different exit scenarios. 
5 tips and tricks for a successful negotiation
<ul>
<li>Assemble a strong team: Consider advisors or lawyers with experience negotiating term sheets.</li>
<li>Understand the investor&#39;s perspective: Research the investor&#39;s typical deal terms and investment style.</li>
<li>Get everything in writing: Even though the term sheet is usually non-binding, aim to capture key agreements in writing to avoid future misunderstandings. A well-drafted term sheet serves to direct the parties&#39; attention to the essential elements of the investment and to determine if there is common ground on the key investment conditions before investing further time, energy, and money in negotiating a deal.</li>
<li>Don&#39;t rush the process: Take your time to understand the terms and implications before signing.</li>
<li>Maintain good communication: Clearly outline what you want to achieve from the deal, including the investment amount, terms, and strategic benefits. Keep the investor informed throughout the process and address any concerns promptly.</li>
</ul>
<h2 id="a-better-understanding-of-your-next-term-sheet">A better understanding of your next term sheet.</h2>
We hope we have given you a picture of a term sheet when you need one and what you should know about it, whether you are an investor or a founder. 
At the same time, this document will bring both of you to the same table for a discussion and a thorough negotiation before the fundraising happens. We hope our recommendations will help you have a good starting point, but if you still have questions, we are here to help.
Reach out to the SeedBlink team for further <a href="https://tech.seedblink.com/financing-solutions">advice on how to best prepare for a fundraising round.</a>

Explore the language of startup funding: discover what a term sheet is, its significance in the investment process, and its role as a foundation for future negotiations.

A beginner's guide to startup funding term sheets - before fundraising 

Daniel Ionescu, Founder and CEO of InstaSun, has been a key player in the digital world, managing global SEO campaigns and leading teams to success across various markets. His expertise spans developing smart marketing strategies and providing consultancy for mergers and acquisitions. However, his latest venture, InstaSun, marks a significant milestone in his career, revolutionizing the way we protect our skin from solar radiation.
This 100% Romanian project integrates the latest technologies, energy sustainability, and eco-friendly products to provide fully automated, 360-degree sun protection. Launched in 2023 after extensive research and development, InstaSun offers a sun protection solution, applying sunscreen evenly to the entire body in just 7 seconds. 
What ‘aha’ moment led to the founding of InstaSun?
The &#39;aha&#39; moment for Instasun came during a summer vacation when I noticed how many people struggled with applying sunscreen evenly, if at all. I saw children with sunburned patches and realized that the process was not only cumbersome but often ineffective. The idea of an automated solution that could deliver perfect, even coverage in a matter of seconds struck me as a way to solve this problem efficiently. That&#39;s when the concept of Instasun was born – a device that could revolutionize sun protection by combining convenience, effectiveness, and innovation.
What was your drive back then, and what change did you aim to make?
Back then, my drive was rooted in the desire to make a meaningful impact on public health by reducing the risk of skin cancer and other sun-related skin issues. I aimed to change the way people approach sun protection – transforming it from a tedious chore into a seamless, automated experience. I wanted to ensure that everyone, regardless of age or skin type, could enjoy the outdoors safely without the hassle of applying sunscreen manually.
How does InstaSun&#39;s platform contribute to enhancing sun protection, and what specific market gap does it address?
Instasun enhances sun protection by providing an automated, touchless, and consistent application of sunscreen, ensuring even coverage across the entire body in just 7 seconds. This addresses a critical market gap where traditional methods often result in uneven application or are simply skipped due to inconvenience. Moreover, Instasun integrates sustainable energy solutions and eco-friendly products, aligning with the growing consumer demand for environmentally responsible innovations.
How do you scale InstaSun’s business model?
We scale Instasun’s business model through strategic partnerships with beach resorts, hotels, and public pools, where our machines can be deployed in high-traffic areas. We’re also exploring opportunities in urban environments, such as parks and outdoor events. Additionally, our dual revenue streams – direct sales from sun lotion application and advertising revenue from digital displays on the machines – provide a scalable, diversified business model that can be adapted to different markets globally.
How does InstaSun guide and empower users to make informed decisions about their sun protection needs?
Instasun empowers users by providing them with accessible and easy-to-understand information about their sun protection needs right at the point of use. Our machines are equipped with educational content on the importance of SPF, the dangers of UV exposure, and tips for safe sun practices. Users can choose from different SPF levels and after-sun care options, ensuring they are protected based on their skin type and environmental conditions.
What are potential exit scenarios for investors supporting InstaSun?
There are several potential exit scenarios for investors in Instasun. These could include a strategic acquisition by a larger company in the sun care, beauty, or outdoor lifestyle industries, particularly those looking to integrate innovative technologies into their product offerings. Another possibility is scaling the business to a point where we can consider an IPO, allowing investors to capitalize on the public markets. We’re also exploring franchise and licensing models, which could provide ongoing revenue streams for our investors.
How do you envision InstaSun&#39;s future growth?
I envision Instasun’s future growth as a global leader in automated sun care solutions. We plan to expand into new markets, starting with Dubai in October 2024, followed by strategic entries into other sunny regions. Our growth will also involve continuous innovation – from adding new features like UV monitoring to developing partnerships in the tech and wellness spaces. Ultimately, we aim to be synonymous with sun safety and outdoor advertising.
Do you have a mentor or figure whom you admire and draw inspiration from?
One figure who has always inspired me is Elon Musk. His relentless pursuit of innovation and his ability to turn bold ideas into reality, even in the face of significant challenges, is something I deeply admire. Musk’s vision of using technology to solve complex problems has been a guiding principle in my own journey with Instasun – striving to create a product that not only addresses a critical need but also pushes the boundaries of what’s possible.
Why should investors consider being part of InstaSun&#39;s journey?
Investors should consider being part of Instasun’s journey because we are uniquely positioned at the intersection of health, technology, and sustainability – three sectors that are poised for exponential growth. Our innovative product addresses a significant global need, with scalable potential in diverse markets. Moreover, our dual revenue streams offer stability and growth, while our commitment to sustainability and energy efficiency resonates with today’s conscientious consumers. Joining Instasun now means being part of a pioneering venture with the potential to make a global impact.
<a href="https://investors.seedblink.com/invest/instasun/260">Explore the opportunity on SeedBlink.</a>

Learn about the inspiration behind InstaSun, how it addresses key challenges in the sun care market, and Daniel's vision for scaling the business.

Sun care innovation: an interview with Daniel Ionescu, CEO & founder of InstaSun

As the Founder and CEO of Maskots, Stéphane Druet is leading the development of an app for pet care, integrating advanced AI-driven solutions to transform how we care for our pets. With over 20 years of leadership experience in high-tech sectors, including consumer technology, travel, payments, and telecom, Stéphane is focused on building and growing Maskots by developing its product and brand, expanding the team, and establishing a robust ecosystem of partners.
Maskots is designed to simplify and enhance pet care by offering personalized services for each registered pet. These services include a customized care plan with reminders, detailed health monitoring, an AI-powered chatbot for instant answers, tailored advice per life stage, and a digital wallet centralizing all pet IDs and travel documents. The app supports all mixed breeds and over 60 pure breeds and is available in English, Spanish, and French. With high demand, evidenced by a survey showing 77% of pet owners&#39; interest in subscribing, Maskots aims to create a lasting impact on the global pet care community.
What ‘aha’ moment led to the founding of Maskots?
Over the past few years, I&#39;ve been captivated by the rise of super-apps that transform specific consumer life areas, such as WeChat for communication and payments, Rappi for fast home delivery, and Uber for mobility and travel.
As an entrepreneur, I was seeking a new market to innovate with this super-app concept. During the pandemic, I observed how outdated and fragmented many health-related processes were—like managing health data, ordering PCR tests, and pharmacy services. Clearly, there was an opportunity for disruption.
I discovered an inspiring benchmark in Singapore, where individuals manage their health entirely via mobile. However, creating a super app for human health involves significant challenges, particularly around managing sensitive personal health data and aligning too many stakeholders.
My real &quot;aha&quot; moment struck one day while we needed to find a new veterinary for our family cat. Why not apply the super-app concept to pet care? Pets, much like humans, require comprehensive care involving a variety of services and products. Additionally, addressing the specific needs of each breed presents a unique and interesting challenge which could be addressed with AI.
An all-in-one app could dramatically enhance the pet owner experience without the complexities associated with human health data. After discussing the idea with numerous veterinarians and pet owners, it was evident that there was significant potential to disrupt the pet care market and improve the lives of millions of pet owners and their pets.
What was your drive back then, and what change did you aim to make?
My primary motivation was to enhance consumer lives by digitizing and simplifying critical aspects of their daily life. For pet owners, managing their pets&#39; care is a significant part of life, and they genuinely strive to do the best they can.
My goal was not only to streamline pet care management through the latest digital and AI technologies, but also to significantly improve the well-being and lifespans of pets. This mission deeply resonated with me and drives our team forward.&quot;
How does Maskots&#39; platform contribute to the pet care market, and what specific market gap does it address?
Traditional pet care is mostly driven reactively by veterinarians who typically engage with pet owners when issues arise or during routine visits or for vaccinations. Outside these interactions, pet owners are largely left to handle their pet’s health on their own. They often turn to unreliable internet sources for guidance and struggle with managing their pet’s medical records and finding information across various apps and websites.
Maskots addresses this gap by centralizing all essential pet data in one place and streamlining the process of pet care. Our platform doesn’t just store information; it actively assists users in finding the best care providers for their pets’ specific needs, backed by vet-supervised recommendations. Additionally, Maskots AI provides instant answers to the pressing questions pet owners have about their pets’ health, making the care process much more proactive. This approach not only enhance efficiency but significantly enhances the quality of care each pet receives.
How do you scale Maskots’ business model?
Maskots business model will be based on a small subscription per pet per month after a period of free trial during the commercialization phase. This primary revenue stream will grow directly with the number of pets registered on our platform.
Beyond subscription fees, Maskots is strategically poised to further monetize our customer base by developing a marketplace. This marketplace will feature recommended providers of various pet-related products and services, such as insurance, food, accessories, pet sitting, training, and even pet DNA testing. We plan to generate additional revenue through commissions, booking fees, and targeted advertising within our app.
As we expand and integrate more services into our ecosystem, we anticipate an increase in the average revenue per registered pet. This strategy not only diversifies our income streams but also significantly enhances the value we offer to pet owners, positioning Maskots as the go-to app for managing all aspects of pet care.
How does Maskots guide and empower pet owners to make informed decisions about their pets&#39; care?
Maskots&#39; core mission is to empower pet owners to provide the best possible care tailored to their specific pets. We achieve this in three ways:
First, Maskots delivers actionable recommendations categorized into three levels of importance—required, important, and optimal. These are customized to each pet&#39;s age, breed, and health conditions, helping owners effectively prioritize care actions.
Second, the platform offers comprehensive, breed-specific advice that evolves with the pet’s life stages. This includes nutritional guidelines, healthcare plans, vaccination schedules, behavioral training tips, and advice to adjust the environment of the pet, ensuring pet owners are well-informed throughout their pet&#39;s life.
Finally, Maskots AI, the first AI specifically designed for pet care, provides 24/7 instant and reliable answers about health concerns, care tips, and more. Informed by each pet’s data, this AI delivers precise information and assessments, aiding pet owners in making informed decisions quickly, even before consulting a vet.
All these features are developed and continuously reviewed by professional veterinarians, ensuring that Maskots not only guides but also educates pet owners, empowering them with the knowledge and tools needed for proactive pet care.
How do you envision Maskots&#39; future growth?
Maskots is set for extensive expansion in the coming years across multiple dimensions.
Our first objective is to enhance breed coverage within the app. Currently, we support all mixed breeds and 60 pure breeds, accounting for about 80% of the domestic dog and cat breed market. However, there are roughly 400 additional breeds to integrate, which is vital since pet owners frequently want specific breed-related information.
Additionally, we plan to increase the app’s linguistic accessibility by adding languages such as Portuguese, German, and Italian. This enhancement will make Maskots adaptable for key markets across Europe and the Americas. Concurrently, we will boost Maskots&#39; market presence by actively promoting the app in the top 20 promising markets, potentially engaging half a billion pets.
To augment revenue, we will develop a comprehensive marketplace within the app, consolidating an ecosystem of partners, including veterinary clinics and other pet product and service providers. This strategy will transform Maskots into an all-encompassing platform for pet owners, increasing transaction frequency and diversifying our revenue streams through commissions and booking fees.
Lastly, as Maskots evolves, it will collect extensive data across different breeds and geographies. This wealth of information will enable us to refine our proprietary life cycle models and offer even more personalized services, establishing Maskots as a leader in data-driven pet care solutions.
What are potential exit scenarios for investors supporting Maskots?
Maskots is tapping into a vast global market with enormous expansion potential, and I see three viable exit strategies for our investors:
The first likely scenario is acquisition by a major player within the pet care ecosystem, such as veterinary groups, insurance companies, or specialized pet service providers. Such player might be interested in leveraging Maskots to cross-sell their products and services or to integrate our comprehensive app into their offerings, enhancing overall value and customer experience.
Given the recent industry trends, another potential exit could be acquisition by a Private Equity firm specializing in pet care. These firms often aim to bolster their portfolios by acquiring promising tech-driven ventures, optimizing operations, and driving significant growth. A notable example includes the recent acquisition of Rover Inc. by Blackstone fro more than $2 billion. 
As Maskots continues to scale and solidify its presence internationally, an IPO could also be a strategic exit. This route would establish Maskots as an independent, market-leading brand in pet care, centralizing a comprehensive ecosystem across multiple regions.
Each of these scenarios offers a strategic pathway to realize significant returns.
What are potential exit scenarios for investors supporting Maskots?
Maskots is tapping into a vast global market with enormous expansion potential, and I see three viable exit strategies for our investors:
The first likely scenario is acquisition by a major player within the pet care ecosystem, such as veterinary groups, insurance companies, or specialized pet service providers. Such player might be interested in leveraging Maskots to cross-sell their products and services or to integrate our comprehensive app into their offerings, enhancing overall value and customer experience.
Given the recent industry trends, another potential exit could be acquisition by a Private Equity firm specializing in pet care. These firms often aim to bolster their portfolios by acquiring promising tech-driven ventures, optimizing operations, and driving significant growth. A notable example includes the recent acquisition of Rover Inc. by Blackstone fro more than $2 billion. 
As Maskots continues to scale and solidify its presence internationally, an IPO could also be a strategic exit. This route would establish Maskots as an independent, market-leading brand in pet care, centralizing a comprehensive ecosystem across multiple regions.
Each of these scenarios offers a strategic pathway to realize significant returns.
Why should investors consider being part of Maskots&#39; journey?
Maskots represents a unique early-stage investment opportunity in a B2C app with unicorn potential, backed by a product that has already been tested and delivered. 
Here are 5 compelling reasons to consider investing in Maskots:
<ul>
<li>Maskots is an innovative AI-driven super app: </li>
</ul>
Maskots leverages generative AI to provide unmatched personalized guidance and convenience ton pet owners, and position itself as an all-in-one app for pet owners.
<ul>
<li>Maskots operates in a massive and growing market potential: </li>
</ul>
Positioned in a robust sector with a USD 2 billion global pet care app market growing at a CAGR of 18%, and a broader USD 307 billion global pet care market expanding at 5% CAGR. 
<ul>
<li>Masktos is ready for international expansion: </li>
</ul>
The app is already available in English, Spanish, and French, starting with two home markets. Maskots benefits from a powerful and protected brand, enhancing its scalability.
<ul>
<li>Investment in Maskots represent a moderate risk as a robust first version of the product is already delivered:</li>
</ul>
The app is up and running and has been extensively tested. Officially launched on July 1st, it has already begun acquiring users through veterinary clinic pilots, reducing typical early-stage investment risks.
<ul>
<li>Investors can expect important return as the valuation is still early stage:</li>
</ul>
Investors have a unique chance to enter before the app reaches the first tens thousands of users milestone, a point expected to significantly increase its valuation.
By investing in Maskots, you&#39;re not just funding a startup; you&#39;re supporting a visionary platform poised to redefine the pet care landscape. This is an unique opportunity to join a mission-driven company dedicated to transforming pet care through digital and AI innovation, enhancing the well-being of millions of pets and improving the lives of their owners.
--
Explore this early-stage opportunity while it lasts, <a href="https://investors.seedblink.com/invest/maskots/264">on SeedBlink.</a>

Read about the inspiration behind Maskots, how it addresses key challenges in the pet care market, and Stéphane's vision for scaling the business.

Transforming the lives of our furry friends

Laurentiu Niță is the visionary founder of Quarks Interactive, the company behind the groundbreaking educational game Quantum Odyssey. Driven by a mission to democratize access to quantum computing education, Laurentiu has combined his passion and expertise to create interactive platforms that make complex quantum concepts accessible to learners of all backgrounds. Under his leadership, Quarks Interactive has successfully developed award-winning software that bridges the gap between gaming and advanced scientific learning. Laurentiu&#39;s commitment to providing equitable educational resources in the quantum field has positioned him as a notable figure in both the tech startup ecosystem and the broader quantum computing community.
Let’s learn more about your recent work at Quarks Interactive.
Certainly! The most significant recent development is that we secured funding from EEA Grants to transform our prototype versions into Quantum Odyssey: Essentials for handheld devices. We’re also working on completing a full video game version that we plan to release on Steam this year. The timing couldn’t be better since UNESCO has declared 2025 as the Year of Quantum. We are on track to offer the best software solutions in quantum education, whether it’s through learning on-the-go on handheld devices, the upcoming Steam version, or Quantum Odyssey Academia, a toolset designed for deployment in schools and universities worldwide.
In terms of partnerships, we’ve put Romania on the map in multiple ways. We founded Digiq.eu and became the first Romanian startup invited by the Korean government to participate in the K-Startup Grand Challenge program. Our R&amp;D successes and the support from our partners have earned us numerous nominations and awards, including the “Best Startup” award in Singapore at a leading quantum tech conference (q.tech) and multiple prizes such as PatriotFest and the Stevie Awards. We’ve even seen professors win significant accolades for improving educational standards using Quantum Odyssey.
Quantum computing can be tough to grasp. How does the game make it easier for beginners?
There’s a lot of media hype around quantum computing, and many attempts to explain concepts like qubits, superposition, and entanglement are often misleading or overly complicated. Quantum Odyssey started as a research project during my Ph.D., aiming to simplify these concepts. We showed that any computation or algorithm you can perform on a real universal quantum computer can be distilled into a visual set of elements and just four colors. By achieving this, we proved that quantum computing isn’t as complex as it’s often made out to be!
Our platform allows users to create visuals that represent quantum concepts, see the underlying equations, and even export the code to run directly on quantum hardware. We always saw solving equations as akin to solving puzzles, so Quantum Odyssey naturally evolved into a beginner-friendly puzzle game where the rules are grounded in actual quantum computing principles. We rigorously tested the software in schools and universities alongside professors, publishing papers on the results. Players as young as 12, with no prior knowledge of mathematics, physics, algorithms, or coding, can learn the fundamentals of quantum computing—and best of all, they’ll enjoy doing it!
What’s been the most rewarding part of creating Quantum Odyssey, and what challenges have you faced?
The most rewarding moments came when we developed the first course materials on famous quantum algorithms. For the first time, we—the theoretical physicists working on it—could truly grasp the intuitive understanding behind the mathematical behavior these algorithms imply. We had some incredible &quot;Eureka&quot; moments, and I believe more are yet to come. Reading the user feedback we gather anonymously through our platform is also immensely gratifying. One memorable comment was: “This module deserves more stars than there are in the universe. I finally succeeded in teaching complex numbers to my nephew!”
As for challenges, being a Romanian quantum software company has certainly had its difficulties. We&#39;ve struggled over the years to find funding sources to complete our project. Many Eastern European VCs we approached wanted us to abandon our IP and focus on outsourcing (i.e., building quantum software for other companies) to secure funding. The deep tech nature of our software required substantial upfront investment before it could be released, so it took us about six years to bring Quantum Odyssey to its current level. We never had VC backing, and most of our R&amp;D was funded through revenue from licenses sold. We generated twice as much revenue as our initial angel investment and three times that amount in grants, which kept us moving forward. Friends in the U.S. quantum startup scene often tell us that if we had started in the U.S., we would easily have a mid-8-figure valuation by now.
It’s been a tough journey building in-house IP in Romania, but thanks to the EEA Grants program and their generous (and equity-free!) funding, we are now in a position to deliver a near-complete version of Quantum Odyssey on Steam this year and have successfully ported the older versions to handheld devices.
How do you plan to spread the word about Quantum Odyssey: Essentials and reach more users?
We’re currently raising funds and seeking partners to prepare a marketing campaign. Besides our efforts on LinkedIn, Reddit, and through our partners (such as APS Quantum Village/Defcon32, Womanium, IBM, and Digiq.eu), we can’t do much more until we secure a marketing budget.
Will the game stay free, or do you have a monetization plan?
The “Essentials” versions for iPhone, iPad, and Android are free to play, with commercials shown every three puzzles and the option to unlock an ad-free experience for $10. From what we’ve seen, it’s by far the best quantum game available on handheld devices. However, these are simplified versions of what’s to come later this year: Quantum Odyssey on Steam. This installment will take things to the next level, featuring a modern video game experience where players can collect achievements, unlock badges, and follow a well-crafted story with cutscenes and multiple endings. It will also introduce exciting features like “quantum hacking” other players. I don’t want to spoil too much, so if you’re interested in our progress, I suggest following me on LinkedIn. This will be a premium game targeted at $30, a Steam exclusive that many believe will significantly push the boundaries of what an educational game should look and feel like.
<img src="/img/steamedition.jpg" alt="">
Steam edition, screenshot of a learning module. The text opens an interactive Encyclopedia, where all “quantum words” are interconnected and clickable within any learning module. 
<img src="/img/steamknowledgemap.jpg" alt="">
Steam Edition, Knowledge Map (wip). The players decide what sort of “quantum skills” they want to learn, by following through different learning modules, led by 4 different Sages
How big is the team at Quarks Interactive now, and how are you managing the runway to ensure the company’s growth?
When it comes to coding, I was fortunate to have a lead developer, Razvan Suciu, who took this project under his wing from day one. I’d like to give credit to Razvan and his startup, Magma Flow Games SRL. He has been working on Quantum Odyssey since 2019, and it would be hard to find a line of code that wasn’t written by him—or at least improved by him. For the past two years, we’ve been a team of five full-timers, all dedicated to seeing this project through to completion. No matter the challenges, we are committed to making it a great success on Steam.
__
<img src="/img/qi-team.jpg" alt="">
Do you see Quantum Odyssey becoming part of formal education or training programs? Any partnerships in the works?
We have indeed formed an impressive list of partnerships over the years. Notably, Quantum Odyssey has become the flagship educational software for the EU’s Quantum Flagship initiative and the pan-European project to teach quantum computing called Digiq.eu. This year, we won Patriotfest’s first prize for Creativity in National Security, which opened the door for discussions with the Romanian government about introducing our learning platform on a national level. We’ve also formed exciting partnerships this year with CERN’s Open Quantum Institute and DEFCON’s Quantum Village. For a longer list, please visit our website.
We’ve been organizing hackathons in quantum computing and have been involved in National Quantum Day events in Romania for years through partners like OctagonHub Romania, Măgurele Summer School, Womanium, and IBM Quantum Explorers. We are also in ongoing talks with officials in the Romanian government and at the EU level. We’ve demonstrated that kids can learn quantum computing; the challenge is that there aren’t enough educators around the world to teach it. Hopefully, with UNESCO proclaiming 2025 as the Year of Quantum, we’ll see more schools and universities wanting to add quantum to their curricula. By then, we hope everyone will know that Quantum Odyssey is the world’s most accessible, yet challenging—and incredibly fun and addictive—quantum educational resource.
You can experience Quantum Odyssey: Essentials on your preferred platform:
<ul>
<li>iPhone Version: <a href="https://apps.apple.com/us/app/id6502397417?ct=Tap33737577">Download on the App Store</a></li>
<li>Android Version: <a href="https://play.google.com/store/apps/details?id=com.QuarksInteractive.QuantumOdyssey&amp;hl=en_AU&amp;pli=1">Get it on Google Play</a></li>
<li>Steam Version: <a href="https://play.google.com/store/apps/details?id=com.QuarksInteractive.QuantumOdyssey&amp;hl=en_AU&amp;pli=1">Play on Steam</a></li>
</ul>
For bulk license purchases and other inquiries, visit QI website.
Dive in and start your quantum journey today!

Interview with Laurentiu Niță, founder of Quarks Interactive – A SeedBlink Portfolio Company

Quantum computing education for everyone – the startup changing the game

Alex Govoreanu and Claudiu Petria are the visionary co-founders behind Questo, a platform revolutionizing city exploration through gamification. Alex, a serial tech entrepreneur and product visionary, has been recognized as a Young Leader in Travel by Phocuswright. Claudiu, a tech entrepreneur with over a decade of experience in advertising and marketing, is an IAA Young Global Leader dedicated to creating authentic local experiences.
Questo offers a unique blend of travel and gaming, creating a new category of city exploration games that serve both discovery and entertainment. The platform allows partners worldwide to create and offer their own city exploration games, fostering local engagement and community development. Alex and Claudiu&#39;s innovative approach aims to make cities entertaining for both travelers and locals, driving the future of travel through digitalization and gamification.
How would you describe the founding team of Questo? In what are you alike and how are you different?
The best way to describe us is probably how others see us. During hiring interviews, everyone mentions that we are different: we&#39;re natural, direct, and allergic to bullshit and fancy words. Our relationship has evolved over time as the business has grown. We&#39;ve learned to listen to and trust each other. We share the same vision, the same dream—to make people happy. If you see us together, you might think we&#39;re different: one of us is more focused on numbers, while the other is more involved in operations. But at our core, we believe we share the same values.
What was your drive back then, and what change did you aim to make?
The first Questo game was created by Alex, and Claudiu played it. When we met and started discussing the experience, we had the feeling that many others would love it, and we could be the ones who bring joy to those people. We then had our first participants in public testing, followed by the first 1,000 attendees at an event in one night, and eventually reached 100,000 players, and so on. From day one until now, we&#39;ve continued to grow and evolve. The main driver for us remains the same: the people&#39;s joy, only the scale changed in time. Now we plan to do the same thing for millions.
How does Questo&#39;s platform contribute to enhancing city exploration, and what specific market gap does it address?
If you&#39;re a traveler, your options are limited. You can book a tour, but you&#39;ll be stuck with a rigid schedule, doing the same things as everyone else at the same time. There&#39;s no privacy, no flexibility, and no extra time to enjoy beyond what&#39;s scheduled. Alternatively, you could try audio or other self-guided tours, but if you check the reviews, you&#39;ll see that many of them barely reach 2 out of 5 stars. This is one reason why half of travelers don’t book a tour or activity—about 700 million people.
We offer flexibility—you can start and play at any time. We offer privacy because you can play with your friends or family. We also add gamification, role-playing, and storytelling, transforming a simple walk into an adventure.
When you&#39;re in your city, we give you a reason to go out, meet your friends or family, and spend quality time together, creating new memories.
How do you plan to scale Questo’s business model? How do you envision Questo&#39;s future growth?
We will focus on fewer but more significant projects once the path becomes clear. Our plan is to work with the world&#39;s most popular IPs and bring them to life in the real world—whether from movies, books, anime, or other games.
Secondly, we will continue to attract more creators to our ecosystem. The plan here is straightforward. Once these two verticals reach millions, we aim to expand into education and other areas.
How does Questo guide and empower partners to create engaging city exploration games for their customers?
We focus on building the tools and providing them to creators, along with the knowledge we&#39;ve gained throughout our journey. We consistently introduce new technologies, share insights and feedback, and host webinars or one-on-one sessions. All of this is aimed at helping our creators build faster, build better, and sell more.
Was there any milestone or pure joy Questo has brought to you in these years? 
We can definitely share a few memorable moments. Like when we welcomed our first players, when we received payment from our very first customer (hello, Mihai! Thank you again), and when we won the prize from Booking.com, along with many other international recognitions. But our biggest source of energy comes from the 35,000+ photos and 110,000+ reviews from players, which arrive daily to remind us that we are on the right track.
What are potential exit scenarios for investors supporting Questo?
Products like Questo have the potential to serve hundreds of millions, and we believe we are on the right track to achieve that. In the near future, we are focused on building and increasing our supply of experiences while serving our first 10 million users. From there, the path to an IPO will be crystal clear.
Do you have a mentor or figure whom you admire and draw inspiration from?
We draw inspiration from everywhere and stay in constant contact with professionals in related industries, such as gaming, entertainment, and travel. One of our biggest sources of inspiration continues to be sports teams, with Jürgen Klopp being one of our greatest influences.
Why should investors consider being part of Questo&#39;s journey?
You didn’t have the opportunity to invest when Apple, Airbnb, or UiPath were at 5 million in revenue. Now, you have the chance to invest in Questo. For more arguments,<a href="https://investors.seedblink.com/invest/questo/270"> visit our campaign page.</a>
--
ASK ME ANYTHING WITH QUESTO | On September 4, starting at 4pm EEST, join Alex Govoreanu and Claudiu Petria, the co-founders of Questo, for an exclusive online Ask Me Anything session. <a href="https://us02web.zoom.us/meeting/register/tZEvde-srjovHtTEYh9B_k0i1Z9-33-BpSJ7">Register here</a>.

Alex Govoreanu and Claudiu Petria, the innovative minds behind Questo, share their journey in creating a platform that revolutionizes city exploration through gamification.

Exploring cities through games: a discussion with Alex Govoreanu & Claudiu Petria, founders of Questo

<a href="https://seedblink.com/en/press-room/2024-05-02-seedblink%E2%80%99s-tech-investors-academy-returns-for-3rd-edition-with-practical-insights-for-startup-investors">Tech Investors Academy, powered by SeedBlink</a>, is a hybrid learning program designed for startup investors who want to enhance their venture capital knowledge. Check the wrap-up of <a href="https://seedblink.com/en/2024-08-07-portfolio-building-101-how-to-assess-a-startup-investment-opportunity">lesson one here</a>. 
The second learning session of the Tech Investors Academy by SeedBlink focused on the legal conditions influencing various types of investment rounds. This session delved into the details of priced and unpriced rounds, explaining how each can affect an investor&#39;s portfolio under different market scenarios.
This session was led by <a href="https://www.linkedin.com/in/andreihancu/">Andrei Hancu</a>, Head of Legal at SeedBlink and one of the hosts of the Tech Academy series. His conversation partner was <a href="https://www.linkedin.com/in/nicoleta-cherciu-lawyer-technology-and-investment-expert/">Nicoleta Cherciu</a>, a Romanian-based lawyer and the Managing Partner of Cherciu &amp; CO. This law firm works with investment funds and technology companies during their financing rounds.
From their discussion, we have unpacked the most important things you should know to learn about different round types and the legal conditions each of them has.
<h2 id="what-investment-instruments-are-available">What investment instruments are available?</h2>
There are two types of financing rounds: priced rounds and unpriced rounds.
In a priced round, the company has a determined valuation and share price, and investors receive equity in exchange for their investment. It’s known as an equity round. Priced rounds occur when the company has reached a stage where it can be valued, often after achieving key milestones.
In an unpriced round, the company does not have a determined valuation, so investors do not receive equity directly. Instead, they provide a loan to the company, which is later converted into equity at the next priced financing round. These unpriced rounds are often referred to as bridge rounds, as they help the company bridge the gap between financing events.
<h2 id="what-you-need-to-know-about-priced-rounds">What you need to know about priced rounds</h2>
One of the most important parts of a priced round is the negotiation, where investors sit with the company&#39;s founders to discuss over a term sheet document. 
The conversation starts with the company&#39;s valuation. It includes other important commercial provisions, such as: 
<ul>
<li>drag-along rights (forcing minority shareholders to join a sale)</li>
<li>tag-along rights (allowing minority shareholders to participate if a majority shareholder sells)</li>
<li>liquidation preferences (determining payout order in a sale or liquidation)</li>
<li>reserve matters (critical decisions requiring investor approval).</li>
</ul>
&quot;You have these rights as shareholders right after you sign the fundraising documents and shares have been issued. Even if the law doesn’t allow the creation of preferred shares, investors get these rights, which to a certain extent, make these shares preferred.&quot;
mentioned <a href="https://www.linkedin.com/in/nicoleta-cherciu-lawyer-technology-and-investment-expert/">Nicoleta Cherciu</a>, Managing Partner of Cherciu &amp; CO.
Investors need this information to understand how the investment round is governed and what rights shareholders will have. In some cases, lawyers often discuss these decisions, but as they directly impact control over the company and future decision-making, you should be involved or aware of what is being decided.
The structure of a priced round
The structure and dynamics of a typical priced round depend on the mix of investors. When VC funds are involved, the lead investor often secures a board seat, possibly allocating another seat if the majority of preferred shareholders can appoint one. 
The concept of reserved matters doesn&#39;t require unanimous investor decisions but is subject to a threshold and voting majority, often around 60%. This setup resembles a democratic process where, even if you are a minority or retail investor, you don&#39;t directly influence decisions.
mentioned <a href="https://www.linkedin.com/in/nicoleta-cherciu-lawyer-technology-and-investment-expert/">Nicoleta Cherciu</a>, Managing Partner of Cherciu &amp; CO.
Holding a small percentage of the company means their voting rights won&#39;t sway major decisions. However, private investors can evaluate the lead VC&#39;s reputation and track record and align with reputable VCs with significant rights and board memberships. 
While private investors might have limited direct power, aligning with experienced and reputable VCs who share the goal of maximizing returns offers security and indirect influence. Angels and private investors might have less power, but organized structures like those <a href="https://seedblink.com/investors">we offer at SeedBlink</a> give rights to smaller investors. 
How do you protect your ownership in a priced round?
Unlike private equity, venture capital investors often have to balance their investment protection with their non-controlling role in the company. To safeguard their investments, they usually use a liquidation preference clause. 
In the event of an exit or liquidation, preferred investors can either get back their initial investment or participate in the proceeds as common shareholders, whichever yields a better return. It’s a 1x non-participatory liquidation preference, providing a safety net even for private investors. 
Moreover, there&#39;s another, less common, type of liquidation preference, the 1x participatory liquidation preference. This clause offers an even higher level of protection and potential return by allowing investors to &quot;double dip.&quot; With this clause, investors return their initial investment (1x) and then participate pro rata in the remaining distribution alongside common shareholders. 
It is not a common solution because industry standards consider it too much. I understand that you want your money back in a worst-case scenario, but getting your money back and getting something extra doesn’t look good. The founders worked for that exit, and they deserve something, regardless of how much it is.
mentioned <a href="https://www.linkedin.com/in/nicoleta-cherciu-lawyer-technology-and-investment-expert/">Nicoleta Cherciu</a>, Managing Partner of Cherciu &amp; CO.
Liquidation preferences can be structured in different ways. Investors receive their return simultaneously or on a waterfall basis. Companies have different dynamics as they grow and move to more advanced funding rounds. 
Initial investors might find their control decreasing, facing dilution as new capital flows in. It’s especially true in Series C or D rounds, where the likelihood of early-stage investors still holding significant ownership is low.
New investors, whether VCs or private equity funds, often aim to buy out earlier investors, seeking as much equity as possible at each funding round. This strategy labels early investments as &quot;<a href="https://seedblink.com/en/2024-07-08-divestment-dead-equity-how-do-you-manage-your-cap-table-in-unusual-situations">dead equity</a>,&quot; meaning the initial investors have already made a return and are seen as no longer contributing actively to the company&#39;s growth. 
If you’d like to learn more about exit power plays, <a href="https://seedblink.com/en/2024-08-13-exits-in-startup-investing-maximizing-returns-power-plays">check this out. </a>
<h2 id="what-do-you-need-to-know-about-unpriced-rounds">What do you need to know about unpriced rounds?</h2>
Convertible instruments, like convertible notes or <a href="https://seedblink.com/en/2021-01-18-introduction-to-safe-financial-instrument-how-it-works">Simple Agreements for Future Equity (SAFEs),</a> are common in unpriced rounds. 
Investors are generally familiar with convertible rounds, a debt and equity financing hybrid. A convertible round is a contract where investors lend money to a company with the agreement that the loan will convert into shares during a future equity financing event.
<a href="https://seedblink.com/en/2024-07-11-understand-the-impact-of-convertibles-on-your-ownership-structure">Convertibles allow investors to provide funding</a> without setting a fixed price per share. Instead, they agree on terms like a valuation cap, discount rate, and maturity date, which define how their investment will convert into equity in the future. Instruments like convertible notes or SAFEs are particularly useful for early-stage startups where determining an accurate valuation can be challenging or premature.
The structure of convertible-driven rounds.
Since convertible loans are often used when it&#39;s difficult to determine a precise company valuation, these agreements usually include a valuation cap. A valuation cap sets an upper limit on the company’s valuation for conversion, protecting investors by ensuring they don&#39;t convert at an excessively high valuation. 
The valuation cap is generally an estimate based on the company’s current status, projected growth, and the amount of convertible loans expected before the equity round. While some investors may push for a lower valuation cap to maximize their shareholding upon conversion, this approach can backfire.
Investors often negotiate a lower valuation cap in convertible rounds to maximize their potential returns. For example, if the cap is set at $2M and the next round&#39;s valuation is $6M, investors can triple their money, which seems ideal. 
However, this can lead to significant dilution of the founders&#39; ownership, causing potential problems in future financing rounds. To avoid such scenarios, keep a balance by setting the valuation cap around realistic future expectations. 
If founders are overly diluted, it might deter future investors or lead to difficult negotiations. Setting the cap too low can raise questions from subsequent investors while setting it too high can make the company seem out of touch with reality.
mentioned <a href="https://www.linkedin.com/in/nicoleta-cherciu-lawyer-technology-and-investment-expert/">Nicoleta Cherciu,</a> Managing Partner of Cherciu &amp; CO.
Convertible rounds also feature variations like discounts and sometimes even interest provisions. A standard discount is around 20%, allowing early investors to convert at a price 20% lower than the next round&#39;s valuation. Occasionally, an additional interest might be included, especially in bridge financing scenarios, to incentivize the company to secure the next round quickly. 
However, the primary purpose of these instruments is equity, not interest income. The discount and valuation cap can generate substantial returns for early investors, sometimes producing 3x or 4x gains. 
How do you protect your ownership in unpriced rounds?
Convertible rounds need a well-defined maturity date to avoid the loan&#39;s indefinite hanging. 
If no equity round occurs by the maturity date, the loan typically converts based on the valuation cap or the company&#39;s current capitalization. A conversion mechanism ensures investors are not left without a return. 
Additionally, a floor valuation can be a safety net when an equity round is delayed or the company underperforms. The floor valuation is the minimum value at which conversion can occur, often based on the last financing round, ensuring investors do not convert at an unreasonably high valuation.
When an exit occurs instead of a subsequent equity round, convertible instruments typically convert right before the exit. It allows investors to participate in the sale on equal footing with other shareholders. 
However, some investors might prefer to get their money back instead of converting in cases of a &quot;fire exit&quot; or a less favorable sale. While this could benefit individual investors, it often doesn&#39;t align with the interests of all stakeholders, especially if the company&#39;s remaining funds are limited. 
When you negotiate the transaction documentation, remember that you need to keep the founders happy. Otherwise, they will not be so incentivized and feel they work as employees. 
It’s not what you want to do because they started the business and want to change the world. So, let them do that, while sure, find a way to protect your interests!
mentioned <a href="https://www.linkedin.com/in/andreihancu/">Andrei Hancu</a>, Head of Legal at SeedBlink.
<h2 id="stay-connected">Stay connected!</h2>
<a href="https://seedblink.com/newsletter">Subscribe to our newsletter</a> and stay tuned for similar updates and insights into European startup news, equity trends, VCs, and investment opportunities.

Understand different types of instruments used in startup investment and how they impact portfolios under different market conditions 

Portfolio Building 101: What is the best investment round type for your portfolio

We recently hosted a webinar on “EXITS— Power plays &amp; maximizing returns.” 
Our guests were <a href="https://ro.linkedin.com/in/radugeorgescu">Radu Georgescu</a>, Chairman of the Board at <a href="https://seedblink.com/">SeedBlink</a>; <a href="https://at.linkedin.com/in/wolfgang-neubert-801305285">Wolfgang Neubert</a>, Partner at <a href="https://www.apex.ventures/">Apex Ventures;</a> while <a href="https://at.linkedin.com/in/ronald-rapberger">Ronald Rapberger</a>, DACH Regional Manager at <a href="https://seedblink.com/">SeedBlink</a> moderated the talk. 
<iframe width="560" height="315" src="https://www.youtube.com/embed/cOPLP7O7KqY?si=oM-vaMdOR9qCqYtd" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

During the webinar, they covered:
<ul>
<li>understanding the key players in an exit and their influence</li>
<li>exploring diverse exit strategies from an investor&#39;s perspective</li>
<li>recognizing when investors have a say in the process. </li>
</ul>
Radu and Wolfgang shared real-life stories from their experience, offering a deep dive into what makes an exit successful and the various strategies that can be employed to achieve the best outcomes.
<h2 id="the-players-at-the-startups-table-during-an-exit">The players at the startup’s table during an exit</h2>
Exits in startup investing are the most desired goal in every <a href="https://seedblink.com/investors">investor’s portfolio</a> because when you start investing in a company, you don’t know the final outcome since there are many variables and many alternatives to take. It can be a good exit. It can be a bad exit. It can go bankrupt. It can go into a long-life relationship with dividends paying profits. 
Additionally, there is a whole process around what happens to a company through fundraising and how you prepare for its evolution as an investor. There are <a href="https://seedblink.com/en/2022-10-06-the-players-at-a-startups-table-and-their-role-in-an-exit-1">different players sitting at the startup’s table in an exit situation</a>: the buyer, multiple sellers, and advisors. 
The buyers and sellers are the key players. 
The buyer is typically cautious and wary, while the sellers, who can be multiple, are focused on the outcome. If the exit is successful and everyone profits significantly, things go smoothly. However, in a less favorable situation, like a fire sale where the company is sold for much less, tensions rise, and everyone tries to maximize their share.
“The buyer has the riskiest position at the table because, at the end of the day, the buyer doesn&#39;t necessarily know what they&#39;re buying, no matter how strong the due diligence is.” 
mentions<a href="https://ro.linkedin.com/in/radugeorgescu"> Radu Georgescu</a>, Chairman of the Board at <a href="https://seedblink.com/">SeedBlink</a>.
Among the sellers, we have the following categories: the founder, the CEO, and investors, who can be represented by VCs, angel investors, or early members of<a href="https://seedblink.com/en/2024-05-14-guide-to-employee-stock-option-plans-esops"> the employee stock option plan. </a>
The founder can exert significant control, sometimes even challenging investors, because those typically don&#39;t want to run the company themselves.
Then, you have the big investors, such as VCs, who also have a substantial say in the exit. However, their influence is still secondary to the founder’s. Following them are the early angels—those who invested in the very early stages of the company—and employees who hold equity.
While these groups are important, they generally have less power than the founder and the big investors.
These three types are slightly different from each other, but the founder has the most power, as he has the keys to the company. The dynamics between the founders and investors are key factors influencing how negotiations take place and how successful they are.
Advisors don’t necessarily have a direct impact, but they can facilitate some events and actions that lead to an exit. They help navigate the complexities of legal aspects, handle financial taxes, and play a vital role in understanding the interests of all parties involved and finding common ground.
In cases where there’s only one buyer and one seller, finding this middle ground might be simpler. But when multiple sellers are involved, the situation becomes more complicated. Investors and advisors become the players who informally assess the situation, determine where interests align, and guide the parties toward a compromise. They aim to ensure that all parties feel they’ve gotten a fair deal, even if it means each side has to make some sacrifices.
<h2 id="types-of-exit-events-in-a-startups-journey">Types of exit events in a startup’s journey</h2>
When a startup reaches a certain stage of maturity or success, it often faces the decision of how to exit—essentially, how the founders and investors will realize the value they’ve built. Exits in business can take many forms. 
The most celebrated exit is an IPO, where a company goes public and sells shares on the stock exchange. However, this is not the only one. 
5 most common types of exit events:
<ul>
<li>The IPO event is when a company goes public by offering its shares on the stock market. It allows the company to raise significant capital while allowing early investors and employees to cash out. </li>
<li>The acquisition event is when the startup is sold to another company and is often pursued when a larger company sees value in integrating its products, services, or technologies into its operations. </li>
<li>The merger event involves combining the startup with another company to create a new, larger entity, often to achieve greater market power or operational synergies.</li>
<li>The secondary sale takes place when the shares of the company are sold to another investor, providing liquidity to early investors without the need for a full company exit.</li>
<li>The Management Buyout (MBO) happens when the current management team purchases the company from existing shareholders, often to gain more control over the company’s direction. </li>
</ul>
IPOs are the most difficult exit event to achieve and are relatively rare. The most common ones are mergers &amp; acquisitions, where another company buys the startup. An M&amp;A can involve the acquirer purchasing 100% of the shares or retaining key founders as co-shareholders to incentivize them.
Other exit strategies include asset deals, where only specific assets are purchased, and <a href="https://tech.seedblink.com/secondaries">secondary sales</a>, where smaller shareholders are bought out to simplify the cap table or optimize governance. 
Liquidity events before an actual sale or IPO are quite a viable exit route that is often overlooked. 
These liquidity events allow investors to realize returns mid-way through a company&#39;s growth phases. Although not publicized like IPOs, they offer significant returns. 
mentions <a href="https://at.linkedin.com/in/ronald-rapberger">Ronald Rapberger</a>, DACH Regional Manager at <a href="https://seedblink.com/">SeedBlink</a>.
Additionally, there are management buyouts, where founders or managers buy out investors. Each exit scenario involves different timing, structures, and interests, making the process complex and unique to each situation. 
<h2 id="early-investors-and-exits">Early investors and exits</h2>
Small investors can play a decisive role in significant exits, too.
Early-stage investors tend to develop more personal relationships with the founders, and their early involvement fosters a unique bond with the founders. 
A strong relationship based on value-adding can potentially influence exit negotiations, and there are cases when angel investors become cofounders later on. 
“The idea that you, as a first-time pre-seed or seed investor with a small investment, will remain on the cap table until the company is sold is more the exception than the rule.&quot; 
mentions <a href="https://at.linkedin.com/in/wolfgang-neubert-801305285">Wolfgang Neubert</a>, Partner at <a href="https://www.apex.ventures/">Apex Ventures</a>
Pooling small investors into a <a href="https://tech.seedblink.com/syndicates">syndicate </a>can consolidate their influence, making it easier for acquirers to negotiate. A syndicate mitigates the challenges of dealing with numerous small shareholders, who may have differing opinions and availability. 
Assigning a spokesperson to represent the group can streamline negotiations, ensuring that the collective interest is well-represented and reducing the likelihood of an acquirer abandoning the deal due to complications. 
<h2 id="vcs-and-exits">VCs and exits</h2>
“We still have some influence over who joins the cap table. Ideally, we can choose growth investors or private equity funds we trust, often based on past successful exits or established relationships.
private equity funds we trust, often based on previous successful exits or established relationships.” 
mentions <a href="https://at.linkedin.com/in/wolfgang-neubert-801305285">Wolfgang Neubert</a>, Partner at <a href="https://www.apex.ventures/">Apex Ventures</a>
When selecting investors for future fundraising rounds, you want to bring in partners who align with your goals and values while maintaining some degree of control over the company&#39;s future.
Unlike business angels, whose influence is often based on personal relationships or specific expertise, VCs like <a href="https://www.apex.ventures/">APEX Ventures</a> leverage their industrial experience and knowledge of financial structures to guide and support founders effectively. 
Given VC funds&#39; typical ten-year lifespan, they often need an earlier exit, typically through secondary sales. These sales allow them to realize returns before the company&#39;s final exit, accommodating the longer development cycles of deep-tech investments. 
&quot;Secondary sales offer specialized investors the opportunity to focus on these deals, providing liquidity to early investors while maintaining the potential for substantial returns.&quot;
mentions <a href="https://at.linkedin.com/in/wolfgang-neubert-801305285">Wolfgang Neubert</a>, Partner at <a href="https://www.apex.ventures/">Apex Ventures</a>
<h2 id="exits-through-the-eyes-of-investors">Exits through the eyes of investors</h2>
Radu Georgescu&#39;s first exit, <a href="https://gecad.com/company/rav-antivirus/">selling his antivirus security company</a>, RAV Antivirus, to Microsoft in 2003, stands out as his happiest and most significant. 
At that time, Microsoft did not have a security business, and the acquisition began what would become a substantial part of their operations. The deal was particularly notable because it involved Microsoft acquiring a primarily Linux-based antivirus product, leading them to offer customer support for Linux, a rare move for the company.
Negotiating the deal was relatively straightforward due to the simple cap table. Radu was the majority owner, and no venture capitalists or other financial investors were involved, only an employee stock ownership plan (ESOP). 
Negotiations were easier since the ESOP participants were entitled to financial gains but did not have decision-making power in the deal. 
&quot;Microsoft described this exit as their best in the past 10 to 15 years and used it as a case study in their internal M&amp;A training.&quot;
mentions <a href="https://ro.linkedin.com/in/radugeorgescu">Radu Georgescu</a>, Chairman of the Board at <a href="https://seedblink.com/">SeedBlink</a>.
Wolfgang Neubert shared two examples of exits that, despite their differences, shared some important similarities. 
In both cases, strategic investors aimed to take over the companies while keeping the founders on board. The founders retained some shares and had the opportunity for a future exit based on the company&#39;s value increase.
&quot;Financial investors want to exit with a strong return, while founders aim to optimize their future compensation package and ensure that the acquirer doesn&#39;t overspend initially, preserving funds for their eventual exit. This often leads to misaligned interests.&quot;
mentions <a href="https://at.linkedin.com/in/wolfgang-neubert-801305285">Wolfgang Neubert</a>, Partner at <a href="https://www.apex.ventures/">Apex Ventures</a>
The founders ultimately hold significant power because they drive the company. If they become dissatisfied, it can jeopardize the deal. As an investor, trying to control things from the co-pilot seat is risky. 
<h2 id="stay-connected">Stay connected!</h2>
For more insights, watch the whole SeedBlink webinar on EXITS—The returns of startup investing: Power plays &amp; maximizing returns.
<iframe width="560" height="315" src="https://www.youtube.com/embed/cOPLP7O7KqY?si=vOwkN4CKvPeyAegq" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>



<a href="https://seedblink.com/newsletter">Subscribe to our newsletter</a> and stay tuned for similar updates and insights into European startup news, equity trends, VCs, and investment opportunities.

Learn more about exit events in startup investing from real-life stories, and see how you can maximize returns.

Exits in startup investing: maximizing returns & power plays 

<a href="https://seedblink.com/en/press-room/2024-05-02-seedblink%E2%80%99s-tech-investors-academy-returns-for-3rd-edition-with-practical-insights-for-startup-investors">Tech Investors Academy, powered by SeedBlink</a>, is a hybrid learning program designed for startup investors who want to enhance their venture capital knowledge. 
This year’s edition of the Tech Investors Academy had a different format, taking the shape of an online course with four different modules on the following topics, which we’ll summarize on our blog in the upcoming weeks:
<ul>
<li>Deal assessment and portfolio building  </li>
<li>Legal conditions influencing different round types</li>
<li>Cross-border investment strategies</li>
<li>Understanding liquidity and secondary market transactions</li>
</ul>
During the first learning session, we explored the essentials of crafting a successful investment strategy. Participants learned to identify the key factors that drive portfolio performance, aiming for high returns of 10x and above. 
This session was led by <a href="https://www.linkedin.com/in/angelhadjiev/">Angel Hadjiev</a>, SeedBlink’s Regional Manager for SEE, experienced in mergers and acquisitions (M&amp;A) and debt restructuring. Angel also invited <a href="https://www.linkedin.com/in/tihomir-dyankov-cfa/">Tihomir Dyankov</a>, a Partner at <a href="https://invenio.partners/">Invenio Partners</a> with extensive portfolio management experience and a history of working in the venture capital and private equity industry.
From their discussion, we have unpacked the most important things you should know to learn how to assess your deals successfully.
<h2 id="how-do-you-build-a-strong-portfolio-in-todays-environment">How do you build a strong portfolio in today’s environment?</h2>
Investing in startups and venture capital has a form of cyclicality that can significantly impact the portfolio that investors are trying to build. In today’s fundraising landscape, it can be particularly challenging due to fluctuating interest rates, inflation, and <a href="https://seedblink.com/en/2022-03-29-investing-in-uncertain-times">geopolitical uncertainties.</a>
Historically, some of the best investments have been made<a href="https://seedblink.com/en/2022-03-08-15th-of-january-2020-does-it-ring-any-bell-editorial-by-ionut-patrahau"> during difficult times</a>. It&#39;s easy to invest when the economy is thriving, money is abundant, and market sentiment is positive. However, staying committed to investing during downturns is one of the best strategic moves despite its challenges. 
On average, investors can overcome difficult economic cycles and achieve a more stable and consistent return over the long term.
Look at the <a href="https://seedblink.com/en/2023-11-01-bull-vs-bear-understanding-markets-ups-and-downs">dynamics of markets&#39; ups and downs</a> to understand how to adapt strategy and navigate market transitions. Interest rates and inflation directly affect asset prices and returns, while geopolitical events can lead to sudden market volatility and shifts in investment landscapes. 
Adjusting your investment thesis based on macroeconomic, geopolitical, and regional developments is often necessary, but keep in mind that some elements and factors will always exist. 
While the sectors you focus on may change in response to these external factors, the core aspects of your investment strategy—such as the amount invested, follow-on investment rounds, and the number of investments—should remain constant.
mentions <a href="https://www.linkedin.com/in/tihomir-dyankov-cfa/">Tihomir Dyankov</a>, Partner at<a href="https://invenio.partners/"> Invenio Partners.</a> 
<h2 id="diversify-your-portfolio">Diversify your portfolio</h2>
To manage the potential risks associated with investing in startups, investors focus on building a diversified portfolio. 
A consistent investment strategy spreads investments across various opportunities, which can help mitigate the risks associated with this type of asset class. 
By diversifying,<a href="https://seedblink.com/en/2022-02-16-portfolio-diversification"> investors can protect their portfolios</a> from the volatility of private investments, ensuring a more stable and potentially lucrative outcome over time.
To efficiently diversify a portfolio, spread your investments across 20 to 25 companies and avoid being overly exposed to any single investment&#39;s failure. Additionally, we recommend allocating 20% to 30% of the investment budget for private assets towards follow-on investments to capitalize on opportunities with companies performing well and mitigate overall risk by spreading investments over a broad portfolio.
mentions <a href="https://www.linkedin.com/in/tihomir-dyankov-cfa/">Tihomir Dyankov</a>, Partner at <a href="https://invenio.partners/">Invenio Partners</a>. 
<h2 id="how-much-of-your-portfolio-should-you-invest">How much of your portfolio should you invest?</h2>
When it comes to investing in private assets, it&#39;s generally recommended that private <a href="https://seedblink.com/en/2022-05-27-the-rise-of-the-digital-retail-investors-and-their-revolution">investors </a>allocate between 5% and 10% of their net worth to this asset class. Private investments are inherently risky and highly illiquid, unlike publicly traded stocks, which can be easily bought and sold on the stock exchange. Ideally, choose to invest in platforms where the <a href="https://seedblink.com/en/2023-03-09-unlocking-liquidity-demystifying-the-secondary-market-for-startup-investments">secondary market </a>is part of the process to lower the risk of your portfolio.
Venture capital funds, for instance, often expect a return of 50% to 60% on seed investments to compensate for these risks. However, private investments require <a href="https://seedblink.com/en/2023-07-27-the-winning-edge-in-angel-investing-embracing-the-power-of-long-term-thinking">patience and a long-term commitment</a>, as the pathway to realizing returns can be unpredictable and quite a long one.
One option for private investments is <a href="https://seedblink.com/secondary-market">secondary markets</a>, which offer a measure of liquidity that is typically unavailable in the private asset space. Secondary markets can make these investments slightly less risky, offering investors the option to realize their investments earlier, potentially at a discount. 
<h2 id="4-important-factors-in-deal-assessment">4 important factors in deal assessment</h2>
When assessing deals, individual investors should start by making a personal assessment to understand why they want to invest, whether in startups or more advanced companies, and how much they are willing to invest. 
The process takes into account their own network and investment portfolio. Due to their high risk and illiquidity, private assets typically represent only 5% to 10% of an individual&#39;s portfolio. Since <a href="https://seedblink.com/en/2023-07-27-the-winning-edge-in-angel-investing-embracing-the-power-of-long-term-thinking">investing in startups is a long-term game</a>, with results often taking 3 to 10 years to materialize, investors must decide on the types of opportunities they want to pursue.
One of the most crucial factors in deal assessment is consistency in adhering to predefined investment parameters. From vertical to maturity or even instrument or specific investment rights, investors should remain strict about their investment criteria to avoid making mistakes. Venturing outside of one&#39;s comfort zone can lead to poor decision-making and potential losses. This principle applies to private assets and all types of investments.
Another key factor in the early stages of startup investments is assessing non-financial metrics. These include the quality of the team, the market potential, and the innovation of the product or technology. These factors can often be better indicators of future success than financials alone, especially when dealing with startups that may not yet have a proven revenue stream.
The next component is having a clear exit strategy from the beginning. Understanding and planning for how and when to exit an investment can significantly impact the realization of returns. Given current market conditions, strategic acquisitions are often more favorable than IPOs. This way, you can maximize their returns and align their exit strategy with market opportunities.
Another factor to consider is that if a startup hasn&#39;t shown significant growth within three years, it might be a good time to consider <a href="https://seedblink.com/secondary-market">selling your ownership through a secondary market</a>. If you regain your funds, you can reinvest them in new and more promising opportunities.
What matters more in deal assessment?
When you are investing in companies in difficult times that don’t generate significant revenues but show potential for substantial revenue growth, you might consider focusing on the next three elements:
<ul>
<li>Team</li>
<li>Market</li>
<li>Technology</li>
</ul>
Assessing the team before the deal.
Investors often focus on determining whether the founder is truly dedicated to the idea or just testing the waters. Spend time with the founders to understand their commitment and motivation for building and growing the company. 
After determining the founder&#39;s commitment, the next step is to uncover their motivations. Asking questions like, &quot;Why is the founder in this space?&quot; and &quot;Is it purely for financial gain, or are there deeper reasons?&quot; can reveal a lot.
Knowing what keeps them awake at night and whether this is something they are passionate about every day can indicate their likelihood of persevering through challenges. 
A founder with a strong &quot;why&quot; is more likely to find solutions to problems and push through tough times, which is crucial for the business&#39;s success. A passionate and committed founder can often distinguish between success and failure.
Additionally, Tihomir mentioned that, as an investor, he also looks for the founder&#39;s ability to attract additional team members, either as <a href="https://seedblink.com/en/2024-06-03-the-founder-factor-on-startup-success-solo-vs-co-founders">co-founders leading the company</a> or as one of the first key employees. A founder who can persuade other senior team members to join gives investors a good pillar on which to step in the company&#39;s development.
What comes first, the market or the deal?
While there is an open discussion about whether the market comes first in deal assessment, there is no doubt that sooner or later, you’ll have to consider it. 
Prioritization can come from how involved VCs are in the daily operations of the companies in which they invest. Smaller funds typically manage fewer investments, usually around eight to ten per fund. 
The approach allows for a more hands-on approach, providing substantial company support and guidance, but also comes with more strict investment criteria, focusing on selecting the best teams to ensure success. 
On the other side, larger VC funds often manage between 50 and 100 investments in a single fund, making it difficult to stay deeply involved with each one. In these cases, a significant market opportunity can compensate for a less-than-stellar team or product because the sheer market potential can drive growth and returns. 
Some investors believe a strong, committed team can navigate and succeed even in a decent market. A great team can differentiate themselves, build a competitive advantage, and drive the company forward, overcoming market challenges. 
<h2 id="stay-connected">Stay connected!</h2>
<a href="https://seedblink.com/newsletter">Subscribe to our newsletter </a>and stay tuned for similar updates and insights into European startup news, equity trends, VCs, and investment opportunities.

Portfolio building, diversification, market transitions, and other key factors you need to know for successful deal assessments. 

Portfolio building 101: How to assess a startup investment opportunity 

Growth is a clear indicator of investor’s confidence in the European venture market.
In the second quarter of 2024, VC investment in Europe saw a significant increase from $13.9B in Q1 to $17.8B, <a href="https://kpmg.com/xx/en/home/campaigns/2024/07/q2-venture-pulse-report-europe.html">according to KPMG</a>. As valuations recover and interest rates decrease, VC deal activity in Europe is on a trajectory to a more positive level, with larger transactions gaining a significant share.
“I think the European fundraising sentiment is more positive because we have a more rational market, and it’s a market that we can understand. [...] 
The power law is operating well here, 20% of the companies is creating 80% of returns. Europe continues to have this dynamic of building companies with less capital”
Mentioned <a href="https://www.linkedin.com/in/chris-wade-isomer/">Chris Wade</a>, Founding Partner at<a href="https://www.linkedin.com/company/isomer-capital/"> Isomer Capital</a>, in a recent episode of the <a href="https://www.eu.vc/p/mid-year-review-2024-european-fundraising">EUVC podcast</a>. 
Now, let’s dive into the data!
<h2 id="european-seed-and-angel-investments-in-q2">European seed and angel investments in Q2</h2>
The seed stage funding increased to $1.8B across 900 rounds, down from $2.3B in Q2 2023.
<img src="/img/screenshot-2024-08-01-140648.png" alt="">
Source: <a href="https://news.crunchbase.com/quarterly-and-annual-reports/venture-europe-startups-ai-builder-revolut/">European Venture Funding by Crunchbase</a>
<h2 id="european-early-stage-investments-in-q2">European early-stage investments in Q2</h2>
Early-stage funding totaled $6.5B across more than 300 rounds in Q2, with Series B funding experiencing the largest year-over-year increase at this stage.
<img src="/img/screenshot-2024-08-01-140812.png" alt="">
Source: <a href="https://news.crunchbase.com/quarterly-and-annual-reports/venture-europe-startups-ai-builder-revolut/">European Venture Funding by Crunchbase</a>
<h2 id="european-late-stage-investments-in-q2">European late-stage investments in Q2</h2>
Late-stage funding hit $7.5B across over 100 rounds in Q2, <a href="https://news.crunchbase.com/quarterly-and-annual-reports/venture-europe-startups-ai-builder-revolut/">according to Crunchbase</a>, showing the most significant quarterly and yearly increases, though not the highest in the past year. Since funding began fluctuating a couple of years ago, quarterly totals have varied, with late-stage funding rising and falling over the past five quarters.
<img src="/img/screenshot-2024-08-01-140908.png" alt="">
Source: <a href="https://news.crunchbase.com/quarterly-and-annual-reports/venture-europe-startups-ai-builder-revolut/">European Venture Funding by Crunchbase</a>
<h2 id="european-vc-funding-in-q2">European VC funding in Q2</h2>
In Q2 2024, VC investment in Europe went from $13.9B in Q1 to $17.8B. 
<img src="/img/screenshot-2024-08-01-141011.png" alt="">
Source: <a href="https://kpmg.com/xx/en/home/campaigns/2024/07/q2-venture-pulse-report-europe.html">European Venture Pulse Q2 by KPMG</a>
The increase was driven by substantial mega-deals, including a $1 billion funding round by AI autonomous driving technology company <a href="https://wayve.ai/">Wayve</a>, a $999.6 million raise by consumer lending platform <a href="https://www.getabound.com/">Abound</a>, a $650.6 million raise by LLM-focused <a href="https://mistral.ai/">Mistral AI</a>, and a $621M raise by neobank <a href="https://monzo.com/">Monzo</a>. 
In Germany, VC investment held steady at $2.2B in Q2 2024, featuring notable rounds for AI-driven deeptech <a href="https://www.deepl.com/">DeepL </a>($300M), chip manufacturer<a href="https://www.linkedin.com/company/black-semiconductor/"> Black Semiconductor</a> ($275M), and satellite launch company <a href="https://www.isaraerospace.com/">Isar Aerospace</a> ($237M). Austria also saw VC investment rise to $283M, its highest since Q1 2022, driven by significant rounds for companies like <a href="https://www.storyblok.com/">StoryBlok </a>and <a href="https://www.enspired-trading.com/">enspired</a>. 
<h2 id="vc-deal-activity-in-q2">VC deal activity in Q2</h2>
In Q2 2024, European venture capital investment increased by 14% from Q1 and 12% year over year, with European startups raising $15.B, <a href="https://dealroom.co/reports/europe-tech-update-q2-2024">according to Dealroom</a>.
<img src="/img/screenshot-2024-08-01-141240.png" alt="">
Source: <a href="https://dealroom.co/reports/europe-tech-update-q2-2024">Europe Tech Update – Q2 2024</a>
Venture investments are performing above all previous years except the outlier years of 2021/22 in 2024. In the first half of this year, 1450 rounds and +$2M were raised, which shows that the sector is more active than it used to be before 2021.
<img src="/img/screenshot-2024-08-01-141338.png" alt="">
Source: <a href="https://dealroom.co/reports/europe-tech-update-q2-2024">Europe Tech Update – Q2 2024</a>
Early-stage European venture capital has shown remarkable stability in recent years, a reassuring sign for the market. Breakout-stage VC has reached its highest level in six quarters, and late-stage investment in Q2 2024 is up year over year, surpassing Q1 levels.
<img src="/img/screenshot-2024-08-01-141427.png" alt="">
Source: <a href="https://dealroom.co/reports/europe-tech-update-q2-2024">Europe Tech Update – Q2 2024</a>
<h2 id="top-3-european-regions-in-vc-deals">Top 3 European regions in VC deals</h2>
The UK, France, and Germany continue to lead as the top venture-funded countries in Europe, maintaining their strong positions in attracting venture capital in the first quarter of 2024 and Q2.
<img src="/img/screenshot-2024-08-01-141537.png" alt="">
Source: <a href="https://dealroom.co/reports/europe-tech-update-q2-2024">Europe Tech Update – Q2 2024</a>
<h2 id="top-3-industries-in-vc-deals">Top 3 industries in VC deals</h2>
In 2024, Energy was the most funded sector in Europe, continuing its dominance from 2023 when it led funding every quarter. It marks a significant shift, as before 2023, Energy typically ranked behind Fintech, Health, and Enterprise Software in venture.
<img src="/img/screenshot-2024-08-01-141632.png" alt="">
Source: <a href="https://dealroom.co/reports/europe-tech-update-q2-2024">Europe Tech Update – Q2 2024</a>
In terms of leading sectors in the first half of 2024, Generative AI, Hydrogen, and Electric Mobility are leading the way, <a href="https://dealroom.co/reports/europe-tech-update-q2-2024">according to Dealroom. </a>
Artificial intelligence. 
AI remained a hot investment area in <a href="https://kpmg.com/xx/en/home/campaigns/2024/07/q2-venture-pulse-report-europe.html">Europe during Q2 2024</a>, with investments pouring into companies focused on core AI technologies and those leveraging AI to enhance business models. Germany-based <a href="https://www.deepl.com/">DeepL </a>raised $300 million, while France’s <a href="https://www.hcompany.ai/">H Company</a> secured $220M.
The broad interest in AI reflects its potential to revolutionize various sectors, from customer experience to product development. This potential makes AI a key focus for VC funding, inspiring innovation, and growth in the market.
Additionally, the regulatory environment is evolving, with the Council of the EU approving the AI Act, the first global effort to harmonize AI regulations. 
Energy &amp; CleanTech.
VC investors continue to look for alternative energy and cleantech in Europe. In Q2&#39;24, notable funding rounds included $381.9M for UK-based energy storage company <a href="https://highviewpower.com/">Highview Power</a>, $168M for Estonia-based hydrogen company <a href="https://elcogen.com/">Elcogen</a>, and $152M for Netherlands-based hydrogen startup <a href="https://tes-h2.com/">Tree Energy Solutions.</a>
The <a href="https://finance.ec.europa.eu/capital-markets-union-and-financial-markets/company-reporting-and-auditing/company-reporting/corporate-sustainability-reporting_en">EU&#39;s Carbon Sustainability Reporting Directive </a>(CSRD) and other evolving sustainability regulations and climate change commitments have also driven interest in RegTechs focused on the sustainability space. These regulatory pressures push larger companies to report on their sustainability metrics, making this sector increasingly attractive to investors.
However, while we are happy and optimistic about seeing the fundraising process moving toward a more positive trend, we must remember that we are only moving on to the year&#39;s first half. So, we don’t have much market visibility if the trends continue by the end of the year! 
We recommend you watch these market reports every quarter and one on <a href="https://seedblink.com/blog">our blog</a>, as we publish a summary of the most important trends every three months. 
<h2 id="expectations-for-h2-of-2024">Expectations for H2 of 2024</h2>
European VC fundraising in 2024 is on track to decrease by 13.1% year-over-year, potentially dropping from €21.7B in 2023 to a lower figure, <a href="https://pitchbook.com/news/reports/q2-2024-european-venture-report">according to Pitchbook</a>. As of the first half of 2024, €9.4B has been raised, leaving a significant €12.3B gap to match last year&#39;s total. 
<img src="/img/screenshot-2024-08-01-141951.png" alt="">
Source: <a href="https://pitchbook.com/news/reports/q2-2024-european-venture-report">European Venture Report Q2 2024</a>
The top 20 open VC funds already amount to €15.6 billion, suggesting that if these funds close as expected, with additional contributions from smaller funds, the overall fundraising levels could match those of 2023.
<img src="/img/screenshot-2024-08-01-142109.png" alt="">
Source: <a href="https://pitchbook.com/news/reports/q2-2024-european-venture-report">European Venture Report Q2 2024</a>
As we move into the second half of 2024, there is a growing sense of optimism, especially around sectors like AI, Energy, and CleanTech, <a href="https://kpmg.com/xx/en/home/campaigns/2024/07/q2-venture-pulse-report-europe.html">according to KPMG. </a>
The IPO market in Europe could see new activity in Q3 2024 as more companies regain confidence in the current market conditions beginning to look optimal for a listing starting Q2, <a href="https://www.ey.com/en_gl/insights/ipo/trends">according to EY.</a>
<img src="/img/screenshot-2024-08-01-142218.png" alt="">
Source: <a href="https://www.ey.com/en_gl/insights/ipo/trends">EY Global IPO Trends Q2 2024</a>
However, there is also a feeling of uncertainty due to the presidential elections in different European countries and the US, which, in some cases, are most likely to make investors cautious.
Additionally, the upcoming compliance deadline for the <a href="https://www.eiopa.europa.eu/digital-operational-resilience-act-dora_en">EU&#39;s Digital Operational Resilience Act (DORA)</a> on January 17, 2025, is expected to drive increased interest in regtech companies. As a result, we anticipate a surge in investments aimed at regtech solutions that assist companies in meeting these new regulatory requirements, highlighting the ongoing importance of regulatory technology in the evolving financial landscape.
<h2 id="find-the-right-investor-and-financing-vehicle-for-your-round">Find the right investor and financing vehicle for your round</h2>
If you want to connect with these investors or check out other active investors in the region, check out the <a href="https://tech.seedblink.com/vc-network">European VC Network list </a>covering venture capital funds from SEE, DACH, Benelux, and others. 
At the same time, we strongly encourage you to consider more flexible funding options for your next round, such as<a href="https://tech.seedblink.com/syndicates"> SeedBlink&#39;s syndicate infrastructure</a> with its rolling facility.

Discover the latest in European venture capital for Q2 2024! We’ll cover the rise in VC funding, the hottest regions and industries for deals, and key market trends.

State of Fundraising in Q2 2024: key findings from market reports

If you&#39;re a founder <a href="https://tech.seedblink.com/financing-solutions">getting ready for a fundraising round this year</a>, keep an eye on these venture capital firms. They have recently raised new funds and are more likely to seek new investment opportunities. 
Understand which VCs have available capital and focus your efforts more effectively. Knowing each VC&#39;s investment focus and stage preference enables you to tailor your pitch to their specific interests. 
To get you started, we&#39;ve compiled a list of venture capital funds in the SEE, DACH, and Benelux regions that have raised fresh capital in 2024. Check it out below!
<h2 id="new-vc-funds-raised-in-see">New VC funds raised in SEE</h2>
Here is a list of new venture capital (VC) funds raised in the second quarter of 2024 in the SEE region: 
<ul>
<li>[Romania] Early Game Ventures -&gt; announced the <a href="https://www.linkedin.com/posts/early-game-ventures_proud-to-announce-early-game-ventures-fund-activity-7194255384872632320-Hldv/?utm_source=share&amp;utm_medium=member_desktop">closing of Early Game Ventures Fund II</a>, a new €60M VC fund that will invest in early-stage startups in CEE.</li>
<li>[Romania] Voyager Ventures -&gt; Romanian-founded company Bitdefender announced the <a href="https://therecursive.com/romanian-bitdefender-launches-voyager-venture-to-empower-cybersecurity-startups-for-market-success/">launch of a new investment program</a> dedicated to funding and developing startups in the fields of Cybersecurity, Data Analytics, Automation, and Artificial Intelligence (AI).</li>
<li>[Bulgaria] BrightCap Ventures -&gt; announced the c<a href="https://therecursive.com/brightcap-ventures-announces-first-close-of-e60m-fund-to-scale-see-startups/">losing of its new fund</a>, targeting €60М, which aims to invest in founders from Southeastern Europe.</li>
<li>[Greece] Apeiron Ventures -&gt; announced its<a href="https://therecursive.com/apeiron-ventures-launches-e25m-seed-investment-fund-to-propel-gen-z-economy-and-b2b-software-innovation/"> new seed investment fund</a>, which closed its first round at €25M. The fund aims to invest in founders from the Gen Z economy and B2B software across Greece, the Greek Diaspora, and Europe.</li>
<li>[The Czech Republic] KAYA VC -&gt; is <a href="https://www.vestbee.com/blog/articles/kaya-vc-is-raising-a-80-m-fund">raising Kaya Fund V</a>, aiming for a €80M generalist fund to allow them to invest globally, focusing on Slovak, Polish, and Czech startups. </li>
<li>[The Czech Republic] ZAKA VC -&gt; went <a href="https://sifted.eu/articles/czech-family-office-zaka-vc-news">from a family office to a VC</a> and announced their first fund of €15M, with a first closing of €10.5M in June.</li>
<li>[The Czech Republic] Presto Tech Horizons -&gt; Czech Presto Ventures and Czechoslovak Group Launch announce <a href="https://therecursive.com/czech-presto-ventures-and-czechoslovak-group-launch-e150m-investment-fund-focused-on-security-and-defence-tech/">a new €150M investment fund </a>focused on Security and Defence Tech.</li>
<li>[Poland] Radix Ventures -&gt; announced raising<a href="https://www.linkedin.com/posts/radix-vc_vc-cee-newproject-activity-7208815083328544769-j8mp/?utm_source=share&amp;utm_medium=member_desktop"> their first DeepTech fund,</a> with a target of €60M.</li>
<li>[Poland] bValue Growth — BVG -&gt;announced the<a href="https://therecursive.com/polish-bvalue-growth-fund-fuels-tech-innovation-in-cee-with-e90m-cap/"> closing of their new fund </a>with a total cap of €90M, with +10M on the initial €80M target.</li>
<li>[Hungary] Lead Ventures -&gt; launches <a href="https://therecursive.com/hungarian-lead-ventures-launches-e100m-fund-for-cee-startups/">a new €100M fund</a> to invest between €2M and €10M in Seed and Series A companies in the region. </li>
</ul>
If you are a founder looking to raise funds in this geographical area, these funds will continue to invest in and support the growth of startups in the SEE region. 
<h2 id="new-vc-funds-raised-in-dach">New VC funds raised in DACH</h2>
Here is a list of new venture capital (VC) funds raised in the second quarter of 2024 in the DACH region: 
<ul>
<li>[Austria] Elevator Ventures -&gt; Austrian Elevator Ventures, RBI&#39;s venture capital arm, announced the <a href="https://therecursive.com/elevator-ventures-launches-e70m-ev-ii-fund-to-power-innovation-across-dach-and-cee-regions/">launch of its second fund worth €70M.</a></li>
<li>[Switzerland] Lakestar -&gt; announced the closing of <a href="https://lakestar.com/news/lakestar-announces-closing-of-its-latest-fund-generation">Lakestar Early IV and Lakestar Growth II</a>, with new total funds of $600M aiming to invest in European startups from Artificial Intelligence (AI), digitalization, DeepTech, HealThcare, and FinTech.</li>
<li>[Switzerland] 14Peaks -&gt;announced the closing of its<a href="https://www.eu-startups.com/2024/04/swiss-venture-capital-firm-14peaks-closed-its-inaugural-fund-of-over-e28-million-to-power-software-startups-in-fintech/"> inaugural fund of over €28M</a> to power software startups in FinTech</li>
<li>[Germany] Vsquared Ventures -&gt; announced a fund of €214M aiming to <a href="https://sifted.eu/articles/vsquared-third-deep-tech-fund-news">invest in early-stage DeepTech startups</a> across Europe. NATO Innovation Fund is among the LPs.</li>
<li>[Germany] Identity.vc -&gt; announced the first close of a fund raised at €15M of a target €50M fund aiming to <a href="https://sifted.eu/articles/identity-vc-lgbtq">back LGBTQ+ founders in Europe.</a></li>
</ul>
If you are a founder looking to fund in this geographical area, these funds are poised to invest and support the growth of startups in the DACH region, giving you a reason to be hopeful. 
<h2 id="new-vc-funds-raised-in-benelux">New VC funds raised in Benelux</h2>
Here is a list of new venture capital (VC) funds raised in the second quarter of 2024 in the Benelux region: 
<ul>
<li>[Luxembourg] MiddleGame Ventures -&gt; announced the<a href="https://sifted.eu/articles/middlegame-new-fund-news"> first close of a targeted €150M fund</a> focusing on FinTech despite the declining investor appetite for the sector.</li>
<li>[Belgium] Pitchdrive -&gt; after two successful funds that performed well, Pitchdrive announced <a href="https://www.pitchdrive.com/stories/pitchdrive-raises-third-fund-of-eu40m-to-fuel-entrepreneur-driven-early-stage-investing-in-europe">Fund III with a total of €40M</a> to back 30 early-stage European startups.</li>
<li>[The Netherlands] LUMO Labs -&gt; announced the launch of LUMO Rise Fund, <a href="https://www.eu-startups.com/2024/07/dutch-investor-lumo-labs-launches-a-e100-million-fund-to-support-30-to-35-impact-driven-startups/">a new investment fund </a>of €100M aiming to invest in European startups focused on emerging digital technologies for a greener and stronger society. </li>
<li>[The Netherlands] Carbon Equity -&gt; announced<a href="https://siliconcanals.com/amsterdams-carbon-equity-bags-60m/"> the “strong first close”</a> of its Climate Tech Portfolio Fund III at raised €60M, after raising €100M in March 2024. </li>
<li>[The Netherlands] Innovation Industries -&gt; announced <a href="https://siliconcanals.com/innovation-industries-launches-500m-fund/">a new €500M fund</a> as their third fund to back deep-tech startups and scale-ups in Benelux and Germany.</li>
<li>[The Netherlands] PhotonVentures -&gt; announced the<a href="https://siliconcanals.com/photonventures-closes-second-fundraising-round/"> closing of their second fundraising round </a>for its fund at €75M, aiming to back photonic chip companies.</li>
<li>Notably, the European Investment Fund has taken a significant step towards enhancing its impact by opening<a href="https://siliconcanals.com/eif-opens-amsterdam-office-benelux/"> an office dedicated to the Benelux region in Amsterdam</a>. This move is part of its new strategy to be closer to the markets. </li>
</ul>
If you are a founder looking to fund in this geographical area, these funds will continue to invest and support the growth of startups in the Benelux region.
<h2 id="find-the-right-investor-and-financing-vehicle-for-your-round">Find the right investor and financing vehicle for your round</h2>
If you want to connect with these investors or check out other active investors in the region, check out the <a href="https://tech.seedblink.com/vc-network">European VC Network</a> list covering venture capital funds from SEE, DACH, Benelux, and others. 
At the same time, we strongly encourage you to consider more flexible funding options for your next round, such as <a href="https://tech.seedblink.com/syndicates">SeedBlink&#39;s syndicate infrastructure</a> with its rolling facilit, is one such option worth considering.

Discover the latest European VC funds raised in Q2 2024. Find out who you should pitch if you match their investment criteria. 

VCs who are ready to invest: new funds raised in Q2 2024

As we advance into the mid-summer of 2024, we are thrilled to share the latest updates from our portfolio companies, showcasing their remarkable progress and innovations. This July&#39;s highlights feature 
Here’s a snapshot of the achievements of the startups we&#39;ve proudly backed: 
Adastec&#39;s trial of their driverless bus in Vicinity, Michigan, is a testament to their innovative capabilities in autonomous transportation. This trial represents a major step forward in the deployment of driverless technology, paving the way for more efficient and sustainable public transport solutions. Check out more info <a href="https://www.sustainable-bus.com/its/adastec-trial-vicinity-michigan-driverless-bus/">here</a>. 
Arcanna AI has been celebrated in the AI Global Excellence Awards by Acquisition International Magazine. This recognition highlights their excellence in AI development and their impact on the global corporate landscape. Moreover, the CEO has announced they’ll be present at BlackHat 2024, the world&#39;s premier technical cybersecurity conference. 
Authic Labs has been recognized among the top 50 blockchain startups by the European Blockchain Convention. This accolade reflects their work in blockchain technology, positioning them as a significant player in this complex industry. <a href="https://www.linkedin.com/posts/lemar-bachtiar_startupbattle-activity-7223670423035518976-l1Xu?utm_source=share&amp;utm_medium=member_desktop">More info here</a>. 
DRUID, along with other Romanian firms such as Questo, FintechOS, and Kinderpedia, has been recognized in the Deloitte EMEA Technology Fast 500. Their growth and technological advancements highlight the vibrant tech ecosystem in Romania and their ability to compete on a global stage. 
Dronamics recently presented their advancements to leading tech journalist and Forbes contributor Bernard Marr at The Goodwood Group. This exposure is a significant milestone for Dronamics, underscoring their innovative contributions to the tech industry. 
Finqware&#39;s<a href="https://lnkd.in/dDEWbFDv"> latest integration with Keez </a>marks a significant advancement in accounting automation for SMEs in Romania. By embedding Finqware&#39;s bank connectivity into Keez&#39;s platform, over 7,000 SMEs can now enjoy streamlined daily accounting reconciliations, reducing the need for manual input and increasing efficiency. 
FlowX.AI, led by co-founder and CEO Ioan Iacob, continues to empower banks with its modernization and integration platform. The company enables financial institutions to consolidate systems and build robust digital products, ensuring they stay ahead in a rapidly evolving digital landscape. FlowX.AI&#39;s platform is a critical tool for banks seeking to innovate and provide superior customer experiences. <a href="https://fintechmagazine.com/articles/flowx-ai-empowering-banks-to-build-modern-apps-platforms">Find out more</a>. 
Lande has re-opened its secondary market with new features, enhancing the platform&#39;s appeal to investors and borrowers alike. This agricultural lending platform continues to innovate, providing farmers with essential financial tools and opening new avenues for investment in the agricultural sector. Take a look at the news <a href="https://alternativecreditinvestor.com/2024/07/19/lande-adds-new-features-to-re-opened-secondary-market/">here</a>. 
Procesio, the brainchild of Mihai Dârzan and a division of Ringhel, has made significant strides in the business process automation space. With a goal to surpass €1 million in revenue this year, Procesio is expanding its functionality and partner network. The platform&#39;s ability to automate complex business processes is gaining traction both nationally and internationally, positioning it as a leader in the field. Read more about this achievement <a href="https://www.zf.ro/zf-it-generation/zf-it-generation-start-up-update-mihai-darzan-fondator-ceo-procesio-22425048">here</a>. 
Swisspod Technologies, in collaboration with EPFL DESL, <a href="https://www.swisspod.com/press-releases/swisspod-secures-pre-series-a-funding-to-build-worlds-largest-hyperloop-testing-hub">has set new benchmarks in the hyperloop industry.</a> Over the past few months, they have completed 82 successful hyperloop missions, covering a cumulative distance of over 1300km. Their unique drive train technology and autopilot system have proven that travel between Geneva and Bern can be achieved in under 20 minutes at a fraction of the energy cost of traditional trains. 
We strongly support building trust and transparency by engaging funded start-ups in discussions around their updates and communicating their business decisions to their investors and our community of tech supporters. 
To support any of our Portfolio companies with your network, knowledge, or mentorship, please contact us at <a href="investors@seedblink.com">investors@seedblink.com</a>.

Significant achievements from Adastec, Arcanna AI, Authic Labs, DRUID, Dronamics, Finqware, FlowX.AI, Lande, Procesio, and Swisspod Technologies. Let's dive into their success stories. 

Investor insight: July 2024 Portfolio success stories 

Remarkable technological advancements are just around the corner, and the data and capital to power them is already here. Discover the future with visionaries who are predicting, embracing, and innovating on tomorrow&#39;s potential.
<h2 id="active-opportunities">Active opportunities</h2>
🇺🇸 VC-Backed | Enterprise SaaS | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D11c7086224%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cf942af50d8544f6d331908dcaa17b03a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638572265936495542%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=uHfjpX7IBJCw9sYpIRj%2BfpjUAY%2F%2FO4MhUIlzIG02cJE%3D&amp;reserved=0">Ambr </a>extends its pre-seed round with €100,000 to accelerate the onboarding of its global customers. Co-invest next to Fuel Ventures, APX VC, Loyal VC, and Plug &amp; Play.
🇷🇴 Angel-led | CleanTech | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D044765f41e%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cf942af50d8544f6d331908dcaa17b03a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638572265936509041%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=MZGtAwrCyIPbBvhA4wr%2FKTPJmHL2RY8KmvSW%2F0D5tsI%3D&amp;reserved=0">CO2Later </a>is raising €600,000 to empower businesses to make impactful sustainability decisions. Is has an experienced founding team coming from the UiPath mafia and successfully exited Kubeark, the largest pre-seed round in Romania.
🇪🇸 Community-led | PetTech | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Db6ba038423%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cf942af50d8544f6d331908dcaa17b03a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638572265936520198%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=smymz1%2F3wUN0E%2FyRRiZraja%2FPLHPaM%2Bo5vx%2F1tIsaV8%3D&amp;reserved=0">Maskots </a>is raising €200,000 to expand its pet care app, helping pet owners keep their animals happy and healthy. 
🇬🇧 Community-led | Marketplace | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dd93d2271ce%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cf942af50d8544f6d331908dcaa17b03a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638572265936530851%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=DCLCjLa22U%2BL%2BCAXWULUc2qBIWI1vnY9B%2BbO%2FGe9nSk%3D&amp;reserved=0">FlairMakers </a>is raising €300,000 to expand its digital platform that connects hospitality businesses with trained, short-term talent. This ensures a flexible, reliable workforce that can meet the dynamic needs of the industry, improving service quality and reducing operational stress.
Pitch of the Week: Join us on July 29 at 4 PM, where you&#39;ll have the chance to meet George Dumitrascu, the visionary founder and CEO of CO2Later | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D365638cc03%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cf942af50d8544f6d331908dcaa17b03a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638572265936542531%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=a2nLeuO49jDFxokqjWqlvD4WNjjzOQY6kz0KqdlxtQc%3D&amp;reserved=0">Register here</a>. 
<h2 id="liquidity-on-your-terms">Liquidity on your terms</h2>
On the secondary market, you can find rare, mature, or undervalued investment opportunities. Invest or sell your ownership in 45 tech companies with different maturity levels and no minimum ticket. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D37dd4e43f5%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cf942af50d8544f6d331908dcaa17b03a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638572265936555538%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=EbKxDO8lQLlZ64m7TvC%2FNFc%2FPrrn5AUESzpYKBe%2BFJA%3D&amp;reserved=0">Check the Bulletin Board.</a>
<h2 id="investor-webinar-on-exits">Investor webinar on EXITS</h2>
On August 1st will feature experts discussing strategies for achieving substantial returns through strategic exits in startup investing. The event will include insights from Radu Georgescu, Wolfgang Neubert, and Ronald Rapberger. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Db1bd3bdc7d%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cf942af50d8544f6d331908dcaa17b03a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638572265936567342%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=3%2FqcnoXBKMjcP5%2B1Z0Fa4Gk2NnEi6d%2FjSkeaAu3Pqko%3D&amp;reserved=0">Register here</a>. 
<h2 id="investors-resources-pick">Investors resources pick</h2>
Co-Intelligence with AI | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D031bf81df3%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cf942af50d8544f6d331908dcaa17b03a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638572265936578595%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=ECq6OKHKB9R1d5K1h1MonZ0tsT46AMQNfuvxM4sf6gQ%3D&amp;reserved=0">Learn more</a>
In his new book Living and Working with AI, Associate Professor Ethan Mollick of the University of Pennsylvania covers key concepts for entrepreneurs, including the four rules of Co-Intelligence. 
EU-Startups Podcast | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D4dcbf84152%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cf942af50d8544f6d331908dcaa17b03a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638572265936599655%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=xPgMaYdMlI7PWvm5hGxcHqU4c9a89B9bs6r%2BCPPxm%2Fw%3D&amp;reserved=0">Tune in</a>
Catch up with Sabina Wizander, Partner at Creandum, one of the most important VCl funds in Europe, whose portfolio includes unicorns such as Spotify, Klarna, Trade Republic, and many more.
Oncology is evolving | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Df2f57f6ca8%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cf942af50d8544f6d331908dcaa17b03a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638572265936608081%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=dhnzpAxiNxt5ceLDU9d%2BPj1gGdzmruI3JiC%2FF6BNlS4%3D&amp;reserved=0">Food for thought</a>
The tumor-seeking radiopharmaceuticals are charting a new course in oncology, with promise for targeted treatments with fewer side effects.

Written by Ionuț Pătrăhău, Managing Partner and Corporate Development @ SeedBlink. In addition to his extensive experience in banking, Ionuț Pătrăhău has also worked in the healthcare sector. He was the CEO of the private healthcare network Regina Maria and co-founder of the Brain Institute, a neurosurgery center developed in collaboration with Monza Hospital. 
Starting a start-up with current friends and former colleagues might seem like a foolproof plan, as long as everyone brings diverse skills to the table or at least complements each other’s abilities. This is one approach. 
Alternatively, you might choose to start a venture on your own, with just your spouse. In this scenario, prudence suggests bringing in additional expertise later by hiring diverse team members as needed. You could also implement an <a href="https://tech.seedblink.com/esop-design">ESOP program</a> to keep people motivated if things go well. This is another approach.
Which is the best choice? As always, the answer is: it depends. It depends on the type of business you&#39;re building. It depends on your transparency in relationships with others and how you fuel your business with the necessary capital. Each ownership solution can be both good and bad. Each comes with challenges, usually when there&#39;s no planning, and you’re unsure what you&#39;ll do in the coming years. 
What kind of business do you want to build? Small or large?
Profitable or one that accumulates value? A business worth one million, ten million, or a billion?
What portion of the business do you want to keep for yourself? And for the initial founders?
What is your time horizon? Three years, five years, or ten years?
This is only the preface of the novel you are about to write, you and your start-up. How you finance your growth depends on this preface and a few other chapters. Bootstrapping, angel investors, crowd investing, micro-VC, or even VC. None of these are an exact science. Nothing can be precisely mapped out to ensure a smooth and trouble-free journey. There are so many variables in a business story, both internal and external, that it all becomes a game of risk and return, with a lot of common sense added in. 
You might wonder then: what can I do? Is it better to move forward without any plan? Is it better to learn from my mistakes and face all possible challenges head-on? This is also an option. It is the option most founders choose, and yes, it educates them on the job. However, learning is one thing, and building a healthy business is another. 
After five years of work, resulting in over 250 funded start-ups and several thousand more evaluated, we have assembled our experience and existing technology into a product we call <a href="https://tech.seedblink.com/fundingsprint">Funding Sprint</a> because SeedBlink is itself a financing ecosystem.
We are not an accelerator, a start-up studio, or an incubator. We are a financing platform where everyone can find the right capital solution. It depends solely on the founders to accept hard work, acknowledge their mistakes and shortcomings, amplify their strengths and qualities, and trust their partners. Because without trust, nothing solid can be built, neither in business nor in life. 
Interested? <a href="https://share-eu1.hsforms.com/1-WobcUrgRoCMiW2OIwN2lAflrgt">Let’s talk.</a> 
--
SeedBlink is the all-in-one equity and investment platform that provides the infrastructure, financial services and network coverage for European tech companies and their stakeholders to access, manage and trade equity at every stage of growth.   
With a comprehensive suite of products and services, SeedBlink streamlines investment processes and provides robust support throughout the equity lifecycle, from initial funding rounds through to mature investment opportunities and secondary markets. 
<a href="https://sso.seedblink.com/realms/seedblink/protocol/openid-connect/auth?client_id=nimity&amp;redirect_uri=https://equity.seedblink.com&amp;response_type=code&amp;scope=openid&amp;_gl=1*1nqzce8*_ga*MTc0NDUwMDY4LjE2ODQyMTU1MDY.*_ga_KSNT1WVLT2*MTcyMTAxODQwMS45NTkuMS4xNzIxMDIwNDg5LjYwLjAuMA..*_gcl_au*NDU2NDI0NDcwLjE3MTk4MTc5NDc.">Become part of our community. </a>

“There are so many variables in a business story, both internal and external, that it all becomes a game of risk and return, with a lot of common sense added in.” 

The Founder's Guide: exploring financing options for start-ups 

<h2 id="a-lot-of-interesting-news-to-talk-about-scroll-down-for">A lot of interesting news to talk about. Scroll down for:</h2>
<ul>
<li>Primary Market: active opportunities</li>
<li>Secondary market updates</li>
<li>Investors resources picks</li>
</ul>
Remarkable technological advancements are just around the corner, and the data and capital to power them is already here. Discover the future with visionaries who are predicting, embracing, and innovating on tomorrow&#39;s potential.
&quot;When choosing SeedBlink as a syndication platform, we had these two things in mind: to resolve the need of the founders to raise more money and to allow business angels to be part of this financing round, angels who otherwise might not have been able to place a substantial ticket enough to directly enter the cap table.&quot;
 — Marius Istrate
, Chairman of the Board, TechAngels.
<h2 id="investment-opportunities">Investment opportunities</h2>
PITCH OF THE WEEK | It took us years, but it finally happened – .lumen, the innovative startup renowned for creating glasses for the blind, is about to launch a financing round on SeedBlink this week! 
Join us on July 16 at 3 PM, where you&#39;ll have the chance to meet <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D2f6fb8f5bf%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C8ece7b38f17f4998ffe508dca49787a2%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638566217943905887%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=L5LsVR8KdmkPkNngrEZ6ZG4HDxnXpsXDL6jUsH0cGh0%3D&amp;reserved=0">Cornel Amariei</a>, the visionary founder and CEO of .lumen. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dd4f536610b%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C8ece7b38f17f4998ffe508dca49787a2%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638566217943913444%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=hZLCmQST1cl8H4qCCF%2B3JOkcS1oguZsUOa5u%2F4Q6oFI%3D&amp;reserved=0">Register here</a>. 
Explore 4 VC-backed and 4 Community-led opportunities<a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Da006bde316%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C8ece7b38f17f4998ffe508dca49787a2%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638566217943920578%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=2scNcJHuSr%2Fz2k1a9A5HP5CGZnw2KZfkISf3i%2BuTj6I%3D&amp;reserved=0"> raising now. </a>
<h2 id="insightful-reads">Insightful reads</h2>
NVIDIA’s AI Podcast: .lumen | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D84e7cb49bb%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C8ece7b38f17f4998ffe508dca49787a2%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638566217943937472%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=FZ7cgABk69TwzZueF%2BPCTufYdhMZxvKaVVLVRFvtXc0%3D&amp;reserved=0">Tune in</a>
Lumen is highlighting a new tool to assist visually impaired individuals navigate. Noah Kravitz interviewed Romanian startup founder and CEO Cornel Amariei on creating its flagship glasses. 
H1 highlights | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D34154e6205%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C8ece7b38f17f4998ffe508dca49787a2%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638566217943942983%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=6GBZhEN4lmT5lqEiTv2o4Za9FFyAPrBGIvBiDNmOrAM%3D&amp;reserved=0">Read more</a>
The year&#39;s first half is over, and Europe&#39;s tech ecosystem is clearly better than 6 months ago. In H1, European startups received €47.3bn, including €18.7bn in debt.
Europe Tech Update | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D751f2f318f%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C8ece7b38f17f4998ffe508dca49787a2%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638566217943948380%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=m7ZXYVOuxgx6OHMv7yGMT7yVaRj5bcsaxWp1NzI4QQk%3D&amp;reserved=0">Learn more</a>
Q2 venture capital investment in Europe is up 14% on Q1, and 12% year on year. Energy has been the most funded sector in Europe so far in 2024. 
Future fuels | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dd178894e2c%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C8ece7b38f17f4998ffe508dca49787a2%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638566217943953834%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=9QDXhpfvbdk1Uu621YNvI6sT6GM7aCV%2FEiBFHoUEglI%3D&amp;reserved=0">Food for thought</a>
We need new fuels to transport people and goods around the globe as society moves away from coal, natural gas and oil. Here’s how things are shaping up.
<h2 id="liquidity-on-your-terms">Liquidity on your terms</h2>
On the secondary market, you can find rare, mature, or undervalued investment opportunities. Invest or sell your ownership in 45 tech companies with different maturity levels and no minimum ticket. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dc9c3129117%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C8ece7b38f17f4998ffe508dca49787a2%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638566217943960380%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=d19ks6tnV%2FQwtUvpG941MncmJmkNoMDP1BozGIR3Y7g%3D&amp;reserved=0">Check the Bulletin Board</a>.

Welcome to our weekly conversation starter.

Daniel Dunose, CEO and Founder of Brainactive, has spent over 18 years immersed in the market research industry, building and leading international teams, and delivering quality data to clients across various sectors. His passion for helping others reach their maximum potential has driven him to establish two successful start-ups. Based in Bucharest, Romania, Daniel brings extensive experience from previous roles at The Staff Supply, DataDiggers, Rakuten Insight, and Ipsos Interactive Services.
Brainactive leverages AI and automation to connect businesses with their target audiences in real-time, enabling them to gather actionable insights directly from their customers. This self-service platform simplifies the process of obtaining vital feedback, making it accessible to businesses of all sizes and industries. By reducing the need for intermediaries, Brainactive cuts costs and time significantly while maintaining complete confidentiality over tested concepts and prototypes.
<ul>
<li>What ‘aha’ moment led to the founding of Brainactive?</li>
</ul>
The launching of the ChatGPT 3.5 made me instantly think about the myriads of options that this technological advance could create in multiple industries, including ours. Though far from offering a perfect output, the general purposed LLM was already able at that point to provide a good start in covering many of the regular tasks of a researcher. I realized then that we could put together a revolution if we harnessed what’s best of the two sides, technology and human talent, by properly training a model to become a true researcher and offering qualified human support to facilitate the switch. 
<ul>
<li>What was your drive back then, and what change did you aim to make?</li>
</ul>
I’ve always been up for innovation, to the tiniest details. If there is a way to do things better, reduce resources consumption to achieve the same or a superior outcome, then we should go for it. It’s the same target that I had in this case: if we could create an alternative to the current traditional market research process that benefits all parties involved, then by all means we should do it. So, we gathered a team of experts in different areas, brainstormed, planned and executed, and 10 months later we managed to launch the actual product.
<ul>
<li>How does Brainactive&#39;s platform contribute to obtaining actionable insights, and what specific market gap does it address?</li>
</ul>
For me, actionable insights translate into accurate, easy to digest information that comes when I need it and not “when it is ready”. And this is just what Brainactive does:
<blockquote>
Imagine you are a SaaS start-up, you have been working on your concept, you have a business model and even some pretty neat wireframes. Your biggest question is: Will somebody buy my product?
How do you answer that? You defined that perfect persona, but where do you find the people that fit that pattern, what do you ask them, how do you ask them, will they answer? How long does this process take?
Now, imagine you have a place where you can ask you initial question (Will somebody buy my product?) - and only that question - and it will take care of every step you worried about and bring you in a few hours the simple, unbiased and direct answer.
</blockquote>
In terms of gap, I will not even refer to AI driven platform; just think about this: digital Do-It-Yourself market research platforms account for less than 2.5% out of the entire industry. But this niche dynamic is well over 25% YoY.
<ul>
<li>How do you scale Brainactive’s business model?</li>
</ul>
Our go to market strategy follows a waterfall logic: 
<ul>
<li>we’ll first use a full specter of digital marketing tactics to attract free users to the platform, have a look around, get convinced of its features and USP</li>
<li>then we’ll implement full-on onboarding, engaging and retention communication to turn free subscribers into paid ones (the Plus plan, which is a one-seat type of subscription)</li>
<li>then further on the focus will be converting Plus into Team subscribers (the plan dedicated to larger market research teams that accommodates up to 15 seats, with ability to share/assign tasks and roles)</li>
<li>and finally, we’ll aim to turn Team users into Enterprise license holders, our prepaid account that covers all the needs of a large market research buyer, with a 24/7 available team dedicated to enhancing customers’ experience, while enjoying the significant financial benefits that come with it. </li>
</ul>
And we will carry on this logic ongoingly, optimizing it on the go. 
<ul>
<li>How does Brainactive guide and empower businesses to make informed decisions about their products and services?</li>
</ul>
Businesses can directly interview their current and potential buyers in the Brainactive platform, selecting those who are most relevant to them out of our pool of 300+ million engaged consumers in 135 countries. With a few simple clicks, the user can have a brief conversation with our in-house research-engineered gen AI that plays the role of an experienced market researcher, and its purpose is to guide and fine-tune user’s idea or market problem that needs to be fixed. 
The AI can instantly generate a professional questionnaire, help users with adjusting it, and suggest the demographics for the audience that companies need to interview. In a short while, the AI will be able to ensure the responses meet the quality standards by actively removing incoherent or sub-par answers and will be able to suggest key insights that sound business decisions rely on. 
<ul>
<li>How do you envision Brainactive&#39;s future growth?</li>
</ul>
I strongly believe the market research industry (and for that matter, all industries) will change dramatically in the next 5 to 10 years, even earlier, considering the fast advance of technology. As a matter of fact, it hasn’t seen much innovation for the past decades, other than being able to interview people online rather than face to face or over the phone. And I think that what we are witnessing today with the AI expansion is only the tip of the iceberg. 
Brainactive is here to take part in this transformation, with a full focus on providing our customers with higher data quality, faster than ever before, controlling their expenditure on a service that is more than vital for sound business decisions. 
We have a phenomenal roadmap of features to implement which will gradually turn Brainactive.ai into a research powerhouse that will completely change the way companies source their insights today – to name just a few: 
<ul>
<li>Improved user-AI interaction, introducing voice recognition, exposing AI to images, audio and video stimuli to self-generate relevant research from the scratch</li>
<li>Diversify the pool of respondents from the 300+ million engaged and profiled consumers in 135 countries that are already integrated in the platform into over 1 billion people, by posting surveys in mobile apps networks and social media </li>
<li>Increase the accuracy of AI output by integrating it with statistics and secondary research sources, to help AI get a better context for the advice provided to users.</li>
<li>Do you have a mentor or figure whom you admire and draw inspiration from?</li>
</ul>
Absolutely. I highly admired Lee Kwan Yew in his stubbornness, tenacity, and drive to create the nation of Singapore. I draw inspiration from the way he overcame all possible barriers to reach his objectives despite all complications and risks, to turn a poor piece of the planet into the highly evolved society that it is today, focusing on meritocracy and on building and improving country’s relevance on the global stage. I see running a business in a similar manner: first you need to find a spot that you can tackle effectively, then to iterate until finding the right formula, and then scale. Just as he thought of a country, I believe that the main purpose of a business is to win the #1 spot in its niche, nothing less. 
<ul>
<li>What are potential exit scenarios for investors supporting Brainactive?</li>
</ul>
We plan to raise more funding rounds to secure our scale, so one exit scenario for the investors who enter in early stages is when we raise a higher round. Another one is when firms get acquired, which I’m confident it is a likely scenario considering the level of innovation we bring to the market research industry, the quality of our team that translates into the capacity of execution and business development, and our future product roadmap. Finally, we explore the option of listing publicly in the long run, so that event will transform our investors’ input into a highly liquid one. 
<ul>
<li>Why should investors consider being part of Brainactive&#39;s journey?</li>
</ul>
First, it’s the solid idea behind Brainactive: market research should be a commodity available to everyone, regardless of previous experience with surveys, expertise in sociology, or even the understanding of basic terms. We like to keep things simple: companies run surveys mainly to be able to become more competitive and/or increase their market share; for that to happen they need accurate, on time, and actionable information from the people that buy or might be interested to buy their products. And Brainactive is here to simplify this process, make it financially accessible to everyone, and providing those answers in nearly real-time. 
Then, the team that build Brainactive is not only highly skilled in different areas (UX, AI, software dev, product design, marketing), but it has actual successful experience in building and running businesses, so it is perfectly able to execute a plan this ambitious.
And finally, the potential that Brainactive has to decisively turn the tides in this industry by introducing a completely new alternative to the traditional market research process, together with implementing the features roadmap mentioned earlier. The total turnover of the industry was $129 bn in 2022, growing at an average CAGR of ~4% YoY. Most of this growth is due to the tech-enabled sector of market research, specifically the one that belongs to the DIY platforms. Yet, these platforms only represent ~2.4% of the total turnover. Hence, the natural trend of switching from traditional research methodologies to the tech-enabled ones has already started and it is a matter of time until it will accelerate, as the benefits for companies (time, speed, and data quality) are unbeatable.

Discover how Brainactive empowers companies with direct access to their target audience, reducing costs and time, and explore the potential growth and impact of this company.

Transforming market research: an interview with Daniel Dunose, CEO & founder of Brainactive

We’ve recently hosted a webinar to discuss the impact of convertibles on startups’ ownership structure. Our guest, <a href="https://at.linkedin.com/in/maxschausberger">Maximilian Schausberger</a>, Managing Director at <a href="https://www.elevator-ventures.com/en/home.html">Elevator Venture</a>s, was joined by <a href="https://at.linkedin.com/in/ronald-rapberger">Ronald Rapberger</a>, Regional Manager DACH at SeedBlink, and<a href="https://ro.linkedin.com/in/andreihancu"> Andrei Hancu</a>, SeedBlink’s General Counsel. 
They discussed how convertibles can be an important pillar of startup financing, providing flexibility and bridging equity financing rounds. 
<img src="/img/convertible-webinar-wrap-up-watch-now-s.png" alt="">
During the webinar, they covered:
<ul>
<li>A brief overview of convertibles, including terms and market trends; </li>
<li>Comparing convertibles to other fundraising tools; </li>
<li>Strategic decision making: When to use convertibles: pros and cons; </li>
<li>Tools for managing ownership and convertibles - the role of cap tables. </li>
</ul>
It’s time to delve deeper into the information from this webinar and unpack the most important learnings. 
<h2 id="understanding-the-ownership-structure-in-tech-startups">Understanding the ownership structure in tech startups</h2>
Understanding equity structure helps founders and investors determine how ownership percentages are allocated and how <a href="https://tech.seedblink.com/financing-solutions">future funding rounds</a> affect these allocations.
The company&#39;s ownership structure is reflected in the cap table, and In the early stages of a startup, the <a href="https://tech.seedblink.com/equity-management">cap table is simple,</a> with just the founders, or maybe the founders and a few initial investors. 
However, the cap table becomes increasingly complex as the company advances and raises funds. This complexity necessitates a thorough grasp of how different funding instruments impact other fundraising rounds and how each affects ownership percentages and dilution.
“Understanding the ownership structure is important for every founder, regardless of stage, and it becomes increasingly important as you progress through the rounds,&quot; <a href="https://at.linkedin.com/in/ronald-rapberger">Ronald Rapberger</a>, Regional Manager DACH at SeedBlink.
<img src="/img/convertibles-webinar-quote-16_9-ronald.png" alt="">
<h2 id="types-of-startup-funding-rounds">Types of startup funding rounds</h2>
There are two main types of startup funding rounds: priced and unpriced. 
<img src="/img/screenshot-2024-07-11-093309.png" alt="">
Main types of startup funding rounds: Unpriced and Prices. Source: SeedBlink
Priced rounds are straightforward. 
The <a href="https://seedblink.com/en/2024-05-07-startup-valuation-understanding-409a-83b-bspce-and-hmrc">company has a set valuation</a>, and investors receive shares based on this. This clarity allows all parties to understand what is being exchanged—a specific amount of money for a particular amount of equity. Priced rounds provide a clear snapshot of the company&#39;s worth at the time of investment, reassuring investors who want to see tangible proof of value before committing their funds. 
On the other hand, unpriced rounds occur before or between priced rounds and involve investments made without a current company valuation. These rounds typically use instruments like CLAs or <a href="https://seedblink.com/en/2021-01-18-introduction-to-safe-financial-instrument-how-it-works">SAFEs</a>, which we’ll talk more about immediately, where investors provide funds in exchange for the promise of future equity. 
<img src="/img/screenshot-2024-07-11-093538.png" alt="">
CLA vs SAFE comparison. Source: SeedBlink
The conversion into equity happens during a subsequent priced round, with terms predefined to protect the interests of early investors, such as valuation caps and discounts. 
Unpriced rounds offer flexibility and speed, which can be critical for startups needing quick capital infusions to reach milestones or bridge the next significant funding event.
<img src="/img/screenshot-2024-07-11-093632.png" alt="">
Connection between funding rounds and convertibles. Source: SeedBlink
<h2 id="what-is-a-convertible-note">What is a convertible note</h2>
Convertibles are loans from investors that convert into equity. They’re a common way for investors to invest in early-stage startups, particularly pre-valuation ones. A short-term loan will <a href="https://tech.seedblink.com/equity">convert into equity</a> upon a triggering event, usually a subsequent funding round. 
&quot;_Convertible instruments, the most common ones, are convertible loan agreements (CLAs), also called convertible notes, or simple agreements for future equity (SAFEs). SAFE instruments always come back to equity at future priced rounds,_” <a href="https://ro.linkedin.com/in/andreihancu">Andrei Hancu</a>, SeedBlink’s General Counsel.
The debt-to-equity conversion mechanism means that the loan amount the investor provides converts into company shares at a predetermined valuation cap or discount rate. A setup like this allows startups to delay valuation discussions while securing necessary funds. For investors, this offers the potential for equity ownership in the future, providing upside potential if the company&#39;s valuation increases.
&quot;Some of the investors want to reserve rights in future equity rounds. So, they can reserve a preemption right or other shareholder-specific rights,” 
Andrei Hancu, General Counsel, SeedBlink.
<img src="/img/convertibles-webinar-quote-16_9-hancu.png" alt="">
A valuation cap sets a maximum company valuation at which the loan converts into equity, ensuring that early investors benefit from investing at a lower valuation if the company grows rapidly. Similarly, discounts offer investors shares at a reduced price compared to future investors, rewarding them for the additional risk of investing early.
Usually, investors have a discount applied to the price per share that investors have in the priced round. As the investors back the company early, they will get a discount in return. Eventually, they will get more shares for the same money to buy cheaper.
<h2 id="convertible-loans-vs-equity-rounds-in-fundraising">Convertible loans vs equity rounds in fundraising</h2>
Convertibles and equity rounds represent two distinct fundraising approaches, each with advantages and considerations. As mentioned earlier, convertibles are debt instruments that convert into equity at a later stage, typically during a subsequent funding round. 
Convertibles allow startups to delay valuation discussions and raise capital quickly, which can be crucial for meeting immediate funding needs or bridging the gap to the next major funding milestone. The flexibility and speed of convertible loans make them attractive for early-stage startups or those facing market uncertainties.
Equity rounds, however, involve selling a portion of the company&#39;s shares directly to investors at a set valuation. They provide immediate clarity on the company’s worth and the equity stake investors receive in return. 
Equity rounds tend to be more complex and time-consuming due to the need for extensive due diligence, negotiations on terms, and formal valuation processes. However, they offer a clear and straightforward ownership structure from the outset, which can be reassuring for founders and investors looking for transparency and stability.
One key consideration in choosing between convertible loans and equity rounds is the potential impact on the company’s cap table and the timing of fundraising. Convertible loans often include terms like valuation caps and discounts to incentivize early investors, but these can also complicate future equity rounds if not managed properly. 
_“From the investor perspective, if you give money to a company, you want to be a shareholder. When times were different, and market sentiments were positive, you would expect another fundraising round to come in 12-18-24 months. Today, the sentiment has changed, and we’ve seen that fundraising is not easy anymore. Raising priced rounds for higher valuations has become difficult, even for good companies. This is one of the reasons why interest rates are going up on convertibles, and the maturity dates are rather closer. We’ve seen 36 months as well, but rather leaning towards a 12-month maturity date,_” <a href="https://at.linkedin.com/in/maxschausberger">Maximilian Schausberger</a>, Managing Director at <a href="https://www.elevator-ventures.com/en/home.html">Elevator Ventures</a>.
<img src="/img/convertibles-webinar-quote-16_9-maximilian-3a.png" alt="">
This timing pressure can create urgency for startups to raise subsequent equity rounds at favorable valuations, highlighting the need for strategic planning and market timing in using convertible loans as a fundraising tool.
<h2 id="advantages-and-disadvantages-of-convertible-loans">Advantages and disadvantages of convertible loans</h2>
Advantages of convertibles
&quot;_The argument for a convertible, that it is a faster and easier negotiation about certain terms is certainly right. It&#39;s easier than a full equity round, but it&#39;s only to a certain extent free from valuation discussions because when you’re discussing the cap, you’re indirectly discussing a rough direction on where you think the next round might be. So, this is something that everyone has to have in mind!_​​,” <a href="https://at.linkedin.com/in/maxschausberger">Maximilian Schausberge</a>r, Managing Director at <a href="https://www.elevator-ventures.com/en/home.html">Elevator Ventures</a>.
<ul>
<li>Delayed valuation discussion: Allows startups to postpone valuation until a later funding round, which can be advantageous for early-stage companies or those expecting significant growth.</li>
<li>Speed and flexibility: Requires less negotiation and due diligence than equity rounds, enabling faster access to capital.</li>
<li>Lower upfront costs: Typically involves fewer legal and administrative expenses, making it more cost-effective initially.</li>
<li>Investor incentives: These can include attractive terms like valuation caps and discounts, which provide potential upside benefits to early investors.</li>
</ul>
Disadvantages of convertibles
“_If new investors come in for a priced round and see that there is a huge stack of convertibles waiting to be converted at different cap prices, the dilution that will occur will be much higher than the investor might be comfortable with,_” <a href="https://at.linkedin.com/in/maxschausberger">Maximilian Schausberger</a>, Managing Director at <a href="https://www.elevator-ventures.com/en/home.html">Elevator Ventures.</a>
<img src="/img/convertibles-webinar-quote-16_9-maximilian-2.png" alt="">
<ul>
<li>Risk of significant dilution: If the company&#39;s valuation does not increase as expected, converting debt to equity can substantially dilute the founders&#39; ownership.</li>
<li>Uncertainty in future funding rounds: Existing CLAs with various caps and discounts can complicate negotiations with new investors, potentially deterring them.</li>
<li>Conversion pressure: The need to convert debt to equity within 12-36 months can create urgency and additional stress to secure favorable valuations.</li>
<li>Complexity in cap table management: Multiple convertible notes with different terms can add complexity to the cap table, requiring careful management to avoid adverse impacts on future fundraising efforts. Use simulation tools to see how equity allocations will look in the next fundraising rounds and how they’ll reflect in your <a href="https://seedblink.com/2024-07-08-why-a-clean-cap-table-makes-your-startup-more-investable">cap table</a>.</li>
</ul>
For more insights, <a href="https://www.youtube.com/watch?v=aObwcDC45Z0">watch the whole SeedBlink webinar on The impact of convertibles on your ownership structure.</a>****
<img src="/img/convertible-webinar-wrap-up-watch-now-s.png" alt="">
<pre><code>
</code></pre>
<h2 id="get-professional-advice-on-how-to-best-structure-your-next-round">Get professional advice on how to best structure your next round</h2>
Bottom line, don&#39;t panic about fundraising. Be strategic about it. 
Get advice not only on how to pitch your company and which investors to target, but also on how to structure your deal effectively. For comprehensive support, <a href="https://tech.seedblink.com/financing-solutions">check out SeedBlink&#39;s Fundraising as a Service</a>. Investment experts will help you navigate every aspect of the fundraising process, taking into account factors such as your stage of development, current ownership structure, growth potential in the current market situation and company vision.

Understand the powerful impact of convertibles on ownership structure and the role of bridge rounds in startup financing.

Understand the impact of convertibles on your ownership structure.

Radu Negulescu saw an opportunity when the work landscape pivoted to remote and hybrid models during the pandemic. In 2020, he founded <a href="https://sessions.us/">Sessions</a>, a platform designed to address the shortcomings of virtual meetings. Sessions goes beyond simple video conferencing. It integrates with popular productivity tools, allowing teams to access documents, brainstorm on whiteboards, and share content directly within the platform. The platform&#39;s unified workspace empowers teams to structure meetings, find information quickly, and collaborate efficiently on various tasks, from sales pitches to user research. 
And… there’s more. Here’s Radu’s view on the “End of work” empowered by AI - <a href="https://www.loom.com/share/3c939555d2394b3586c4e89c7b923442?sid=4e47d80a-6fc7-471d-a03a-1d2852fc284d">meet AR2R</a>.
Today, we are meeting with Radu to discuss Sessions&#39; fundraising journey following their successful crowdfunding round on SeedBlink earlier this year.
Key takeaways:
<ul>
<li>Building a community should be at the core of any business and viewed as the &quot;governing body&quot; that provides valuable feedback. </li>
<li>Crafting a compelling narrative is more important for fundraising than metrics alone. Continuous refinement of the story is key.</li>
<li>Intentional fundraising preparation and alignment with suitable investors are important.</li>
</ul>
<h2 id="early-fundraising-decisions">Early fundraising decisions</h2>
Radu realized that fully capitalizing on the newly identified market opportunity would require substantial financial resources. His previous founding experiences in the industry helped Radu ground his new company into reality and have a clear understanding of the costs associated with scaling a tech company. 
Rather than bootstrapping, which could have constrained the company’s growth and delayed critical product developments, Sessions opted to seek venture capital from its early days.
“_When I saw this market opportunity and realized that there was a super interesting angle to be approached in the market, I also understood that it would be expensive to deploy or attack that angle. So, we embedded the idea of being VC-backed. I think your success is also a matter of how you design your company or your “intentionality” from day one._”
<h2 id="community-driven-fundraising">Community-driven fundraising</h2>
For Sessions, embracing community-driven funding was a natural extension of its core philosophy. The company prioritized building a strong community, viewing it as a market for its product and a crucial stakeholder in their journey. 
“We knew that Sessions would be a community-driven company. Community is part of our essence. We do not use the community just to win Product Hunt or raise money. Our community is our governing body. Our community is where we find or learn that we are going in the right direction. Community is part of the building process. 
_We currently have more than 3000 people in our community, but by the end of the year, we will be near 10,000. We have the same level of engagement with companies with millions of users, and this is because people are discussing and engaging. After all, they find value there._” 
<img src="/img/blog-quote-1920x1080-16_9-sessions-1.png" alt="">
If we speak about communities, we can’t continue without mentioning the recent shift towards community rounds as an alternative to traditional venture capital. This movement is driven by a growing recognition of the value a dedicated and engaged community can bring to a company beyond financial investment. 
“I&#39;m a big believer in community rounds, and I think that’s the model of the future. I believe tomorrow&#39;s startups will be way more inclined to build founding rounds from communities than investors. That community is not there because they want to invest in you. They love your narrative. They are already hooked. They are there because they love your product. They want to be part of the journey. ” 
Community investors are more passionate and loyal because they believe in the product and the company’s mission. Emotional investment can translate into higher levels of engagement and advocacy, turning investors into brand ambassadors who actively promote the company within their networks. 
Moreover, having a broad base of community investors can provide a more stable and resilient funding source, as it is less likely to be influenced by the volatile swings of venture capital markets.
“A company that manages to raise money from its community has way more chances to survive than a company that raises from venture capital. Here is why I think this. It&#39;s easier to raise from VCs than it is to raise from your community. 
_Communities are regular people with regular lives; they have their priorities and things going on. However, it&#39;s a strong signal when your community decides to invest and share resources with you. I think in 10 years from now, community rounds will be more relevant than VCs._”
<img src="/img/blog-quote-1920x1080-16_9-sessions-2.png" alt="">
<h2 id="top-three-fundraising-lessons">Top three fundraising lessons</h2>
1. Craft a compelling narrative
One of the most important fundraising lessons from Sessions’ journey is crafting a compelling narrative. In the early stages of a company, the story you tell about your vision, mission, and the problem you&#39;re solving can be more influential than the numbers alone. 
Investors are often drawn to a vision they can believe in and be excited about. For Sessions, articulating a clear, inspiring vision was essential in capturing investor interest and trust. The founders learned that while strong financials are crucial, the narrative truly resonates with investors and convinces them to support the company&#39;s journey.
“A great story will raise a great round. If you have numbers to sustain the story, that is even better, but the story is fundamental, so words can count “harder” than numbers.”
To leave you with actionable advice, we asked Radu how to build a compelling story. Here are his thoughts:
“You build a story by talking to people. I once spoke with somebody from the stand-up industry who told me something very insightful. His tactic was to test phrases randomly with the public and see how they reacted. His most successful shows are a series of continuous experiments that he tested in different contexts.
_This is how you build a pitch and a narrative. You constantly improve through feedback. As founders, we tend to use complex ideas and complex words, and people don’t get it. If they don’t get it, they don’t buy it. They don’t invest. Nobody will invest. So, this is why I think words have a bigger impact than numbers._”
2. Be intentional and prepared in the fundraising process.
Another key lesson is the strategic approach to selecting investors. Sessions’ founders realized successful fundraising is not just about meeting as many potential investors as possible. Sessions adopted a different strategy. Instead of casting a wide net, the team focused on identifying investors who brought more than just capital to the table.
Radu and his team aspired to find those who could offer strategic advice, industry connections, and a deep market understanding. They also meticulously prepared the pitch and refined the product and business model to appeal to the right investors.
This selective approach paid off, allowing Sessions to develop partnerships with investors aligned with their vision and could provide substantial value beyond financial investment. The focus was on quality over quantity, ensuring each investor could contribute meaningfully to the company’s journey.
“I think founders should be more intentional in how they approach fundraising. 
_Put a lot of effort into refining your story and positioning, and start looking very narrowly at investors. Find those who understand your niche, understand you as a founder, and your context._” 
<img src="/img/blog-quote-1920x1080-16_9-sessions-3-1.png" alt="">
3. Build your business thoroughly, and success will follow. 
The third lesson is about the ultimate goal of a startup.
“I think people should prepare things, not for the sake of fundraising, but for the sake of clarity. If you are doing things just for the sake of fundraising, you’ll most probably fail. Founders should focus 90% on building a compelling business and narrative. That will in turn bring you money and success.” 
<ul>
<li>To learn more about Sessions, visit their <a href="https://sessions.us/">website</a>.</li>
<li>Connect with<a href="https://www.linkedin.com/in/negulescuradu/"> Radu Negulescu on Linkedin.</a></li>
</ul>
To learn more about Session&#39;s fundraising journey and to ask Radu questions directly, <a href="https://youtu.be/X1qHWt8tKpY">watch this webinar</a> on effective strategies for fundraising from your community:
<img src="/img/webinar-1920x1080-16_9-8-.png" alt="">
<h2 id="do-you-need-help-with-getting-ready-for-a-funding-round">Do you need help with getting ready for a funding round?</h2>
SeedBlink can assist with pitch deck and fundraising materials review, introductions to angel investors and VCs, and deal structuring and development guidance. 
Check out <a href="https://tech.seedblink.com/financing-solutions">SeedBlink’s financing solutions</a> for startups at every growth stage.

Session's fundraising journey and lessons learned

Sessions — about community building and fundraising success

We’ve recently hosted a webinar with <a href="https://www.linkedin.com/in/eric-bartha-08154810b?miniProfileUrn=urn%3Ali%3Afs_miniProfile%3AACoAABuqpmEBCHT1t3gcSRTdThhtTPxmCPtwB1Q&amp;lipi=urn%3Ali%3Apage%3Ad_flagship3_search_srp_all%3Bq8I2XqLqRlStUDGLdU0z7Q%3D%3D">Eric Bartha</a>, SeedBlink’s Head of Revenue, and <a href="https://www.linkedin.com/in/bogdan-stoian-b88a67279?miniProfileUrn=urn%3Ali%3Afs_miniProfile%3AACoAAEP3Y9gBqH2b8qMCrpEFTkOMg_A3BCybL_o&amp;lipi=urn%3Ali%3Apage%3Ad_flagship3_search_srp_all%3B8W67ZYIMQO%2BUlgsn5ak3QA%3D%3D">Bogdan Stoian</a>, Professional Services Lead, where they explained how a well-managed cap table safeguards your ownership and simplifies your growth and fundraising journey.
<img src="/img/screenshot-2024-07-08-132415.png" alt="">
A clean cap table clearly shows how founders allocate ownership, eliminating misunderstandings and legal complications. Investors assess the equity health and future potential of the company. A clean cap table also helps simplify due diligence processes, making it easier for companies to secure funding rounds without unnecessary delays or disputes. The need for a clean cap table is evident. 
<ul>
<li>Investors’ perspectives on cap tables – best practices and pitfalls </li>
<li>Effective strategies for managing a growing shareholder list </li>
<li>Tips to prevent significant ownership dilution in early funding rounds </li>
<li>The effects of different funding instruments or amounts on your ownership and how to strategically allocate equity based on your startup&#39;s stage.</li>
</ul>
Before we dive into the takeaways from this webinar, let&#39;s unpack some basic things about cap tables. 
<h2 id="overview-of-cap-table-management">Overview of cap table management</h2>
We want to have a quick look first at the structure of a cap table:
General Information:
<ul>
<li>Nominal Value (or Par Value): This value is extracted from your company&#39;s founding documents. While typically a small, arbitrary amount, is used to ensure that the company maintains a certain level of capital.</li>
<li>Common (or Ordinary) Shares: These shares grant holders dividends and voting rights, serving as a fundamental form of ownership in the company.</li>
<li>Preferred Shares: Preferred shares carry a fixed dividend and are often issued to raise capital while offering certain privileges over common shares.</li>
<li>Convertible Shares: This type of security can be converted into common shares, allowing for flexibility in equity ownership structure.</li>
</ul>
There may be also other types of shares, like non-voting, of different classes, and so on. 
Shareholder Information:
<ul>
<li>Shareholder Name: The names of your company&#39;s shareholders, including any share pools like an Employee Stock Ownership Plan (ESOP).</li>
<li>Number of Shares / Shareholder: Each shareholder&#39;s shares are inputted here. The template you use calculates share value based on the number of shares and share price.</li>
<li>Type of Share: Designates the type of shares each shareholder holds, Common, Preferred, Convertible, or other categories.</li>
</ul>
Calculated Information:
<ul>
<li>Total Number of Shares: It represents the cumulative count of shares held by all current shareholders.</li>
<li>Shareholding Percentage: The ownership percentage for each shareholder calculated by dividing their shares by the total issued shares.</li>
<li>Shares Value per Shareholder: The value of shares for each shareholder obtained by multiplying their number of shares by the nominal or current share price.</li>
<li>Total Company Value: The overall value of your company based on the nominal share price (for initial cap tables) or the current share price multiplied by the total number of shares.</li>
</ul>
Important note! Always make sure that the math behind the cap table is correct. A mistake startups make at their first investment at pre-seed, post-MVP, or MVP level can result in major legal problems and fees paid later on. 
Solution: To manage a cap table more easily and effectively, we recommend using a user-friendly platform that can handle the complexities of equity distribution and updates. <a href="https://tech.seedblink.com/equity-management">Platforms like SeedBlink</a> help you avoid errors associated with manual management methods, such as spreadsheets. 
As a founder, you get real-time updates and can offer easy access for your stakeholders, ensuring everyone is on the same page. A platform reduces the risk of mistakes and improves operational efficiency, enabling companies to focus on growth rather than administrative tasks.
Equally important is updating the cap table and reporting changes to the relevant trade registries across jurisdictions. By doing so, founders ensure that all stakeholders, including employees with stock options, are clear about their shares and potential future equity.
Investors evaluate cap tables meticulously to understand the company&#39;s ownership structure and potential future liabilities. A clean, well-maintained cap table indicates a well-managed company, which is more attractive to investors. 
Investors often look for a balance of <a href="https://seedblink.com/en/2024-06-19-shareholders-and-stakeholders-in-your-cap-table">power among shareholders</a>, a clear delineation of voting rights versus economic rights, and the presence of any potential red flags, such as large equity stakes held by inactive or former employees. Investors prefer cap tables with fewer complications, facilitating quicker decision-making processes and reducing the risk of corporate governance bottlenecks.
&quot;A red flag that typically investors don&#39;t like to see is a large chunk of the company being owned by someone who is no longer with the firm, who left for whatever reason.&quot;
<h2 id="founders-equity-split">Founders&#39; equity split</h2>
How should founders split equity in a startup? 
This is a challenging question that doesn’t have an answer by the book. What is right for your scenario might not be for others, and <a href="https://seedblink.com/en/2024-02-15-founder-equity-split-%E2%80%94-is-equality-the-best-decision">splitting 50/50 is not always the best solution</a>. 
“An important step in the beginning is to split your equity so that it doesn’t create conflicts over time. 
This should be an open-hearted decision between founders when you decide to create the company. Figure out how you want to split the pie so that it allows you to build and keep a long-standing relationship.”
However, if there is one piece of advice we wanted to give you as a starting point from our discussion with Eric and Bogdan, it is this one. Base your decision on the division of power dynamics and experience to prevent conflicts down the road. This approach ensures that each founder&#39;s contribution and decision-making power are reflected in their equity stake.
“If Bogdan and I, you know, start a company and he has, you know, 10 years of experience in a certain domain, and then we open up a company in that certain domain, maybe it would be good to reflect it in such a way that Bogdan has a majority stake over myself.&quot;​​
<h2 id="why-implement-a-stock-option-plan-early-on">Why implement a stock option plan early on?</h2>
<a href="https://tech.seedblink.com/esop-management">Employee stock option plans</a> allow employees to become shareholders, aligning their interests with the company&#39;s success. This motivates employees to work towards the company&#39;s growth and helps attract top talent who might prefer the potential upside of equity over immediate higher salaries.
When to implement an ESOP? 
The answer is the sooner, the better.
When setting up an ESOP, you allocate a good percentage of <a href="https://tech.seedblink.com/equity">the company&#39;s equity to be distributed</a> over time to key employees without significantly diluting the founders&#39; stakes. This should be reflected in your cap table. 
Typically, startups allocate between 8% and 20% of their equity for ESOPs, depending on the jurisdiction and the company’s growth stage​​. Keeping a healthy percentage of equity allocated will help you manage dilution, maintain a healthy equity structure, and have control over your company as a founder.
<h2 id="how-to-manage-a-growing-list-of-shareholders-in-a-startup">How to manage a growing list of shareholders in a startup?</h2>
If you don’t want too many complicated situations later on, start your journey as simple and clear as possible from the beginning. To build the base for this, you need to document the ownership structure, including equity stakes, voting rights, and convertible notes, and update it every time there is a change. 
Early on, startups should anticipate shareholder growth by implementing structures that facilitate efficient management. One effective method is to use a nominee structure or create a special purpose vehicle (SPV) to aggregate smaller shareholders. Instead of having numerous individual shareholders, the company can manage a single entity representing these stakeholders, simplifying communication and decision-making processes. 
“We’ve seen founders struggle and face many difficult situations when their cap tables become complicated. This is why we are raising these issues today, to avoid unnecessary problems tomorrow.” 
Another crucial aspect is ensuring transparency and clear communication with all shareholders. Founders should regularly update shareholders on the company&#39;s performance, strategic decisions, and any changes in the cap table. This transparency builds trust and helps preempt potential conflicts. 
Additionally, setting clear expectations about the role and rights of shareholders from the outset can prevent misunderstandings.
&quot;Managing your cap table will need to create a full circle when it comes to actually managing all the people that are involved within the important decision and the importance of taking the next steps for your business.&quot;
<h2 id="cap-table-best-practices">Cap table best practices</h2>
Calculate dilution after a new fundraising round.
To <a href="https://tech.seedblink.com/equity-calculators">accurately calculate dilution</a> in a cap table after a new investment round, founders must consider various factors such as convertibles, ESOP plans, and other equity instruments. 
First, consider the conversion of any convertible notes or SAFEs into equity, as these will impact the total number of shares and the ownership percentages. Next, factor in the exercise of stock options from the ESOP, which typically dilutes existing shareholders. 
Avoid over-dilution and under-dilution.
Start by<a href="https://tech.seedblink.com/compliance"> setting realistic valuation</a> expectations that reflect the company’s current stage and growth prospects. Avoid raising too much capital early, which can lead to excessive dilution. 
Conversely, underfunding can result in a lack of resources to achieve critical milestones, potentially necessitating unfavorable future financing terms.
Use simulations in fundraising rounds.
Creating different scenarios allows you to visualize how various funding amounts, <a href="https://seedblink.com/en/2024-05-07-startup-valuation-understanding-409a-83b-bspce-and-hmrc">valuations</a>, and equity allocations affect the cap table. Simulations provide clarity, allowing you to align your round with the company&#39;s strategic objectives.
&quot;The simulations also help you actually to look at multiple setups... So, creating these scenarios from scratch will help you, as a founder, understand exactly how this will impact the company.&quot;
Here’s an example of a simulation using convertibles - see how the ownership percentage changes depending on the conversion options:
<img src="/img/screenshot-2024-07-08-133027.png" alt="">
A clean cap table. Source: SeedBlink Equity
<img src="/img/screenshot-2024-07-08-133112.png" alt="">
A cap table with convertibles included. Terms: 10M valuation cap / 20% discount. Source: SeedBlink Equity
<img src="/img/screenshot-2024-07-08-133155.png" alt="">
Simulation of round at 30M valuation - 10M valuation cap is applied. Source: SeedBlink Equity
<img src="/img/screenshot-2024-07-08-133227.png" alt="">
Simulation of round at 8M valuation - 20% discount is applied. Source: SeedBlink Equity
<h2 id="use-a-nominee-structure-to-clean-up-the-cap-table">Use a Nominee structure to clean up the cap table.</h2>
After an investment round, use a <a href="https://tech.seedblink.com/syndicates">Nominee structure</a> to clean up the cap table by aggregating smaller shareholders into one entity through syndication. It will simplify the management of shareholder communications and voting processes, reducing administrative burden. 
“The nominee structure will be within your cap table as the shareholder and will be the legal owner of the shares, but the investors aggregated within the pocket of the nominated structure will be the legal beneficiaries.&quot;​​
Create a syndicate for employees to invest in your company.
A syndicate for employees can help them invest in the company and facilitate their access to equity without complicating the cap table. By pooling employee investments into a single entity, the company can manage fewer entries on the cap table, maintaining simplicity and clarity.
&quot;_If they would like to invest, I suggest creating a syndicate within your company that will aggregate all the employees that want to invest&quot;_​​.
<h2 id="legal-mistakes-in-cap-tables">Legal mistakes in cap tables</h2>
Founders should understand that mistakes in early calculations can lead to significant legal and financial consequences later. Legal mistakes in cap tables can be particularly challenging and expensive to fix, especially during the <a href="https://seedblink.com/en/2024-06-20-a-guide-on-how-to-prepare-for-due-diligence-when-fundraising">due diligence process</a>. 
Investors and their legal teams will examine your company’s cap table to ensure all equity transactions have been accurately recorded. Errors discovered at this stage can delay funding rounds and incur substantial legal fees. 
&quot;What lawyers of investors are usually looking at, percentages and shares, and those need to be correctly calculated... mistakes are done in the past that need to be corrected&quot;​​. 
To avoid this type of mistake, we recommend you seek help from professional legal and financial advisors to review cap table transactions and use a dedicated cap table management platform that guides you in this process. 
For more insights, watch the whole SeedBlink webinar on Why a clean cap table makes your startup more investable:
<iframe width="560" height="315" src="https://www.youtube.com/embed/HtFh0UNf4oo?si=iw1igaLQYVSHAyYF" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

<h2 id="explore-the-benefits-of-cap-table-management-software">Explore the benefits of cap table management software</h2>
Cap table management software enhances accuracy and transparency. It also helps you become more credible and attractive to investors. 
Discover SeedBlink’s equity and<a href="https://tech.seedblink.com/equity-management"> cap table management solution. </a>

Discover why a clean cap table makes your startup more investable and learn practical strategies to achieve it from our recent webinar.

Why a clean cap table makes your startup more investable

Building and growing a company takes a lot of work. From initial funding rounds to product pivots and team changes, founders encounter unforeseen situations. 
Founders may leave, investors may change course, and unforeseen events may call for restructuring. In these situations, your focus should be to protect your company and<a href="https://tech.seedblink.com/equity-management"> adapt your cap table</a> to reflect the new reality while minimizing the impact on your team and company growth.
In this article, we picked four situations that can lead you to divest your co-founder or encounter dead equity. You might not encounter them very often, but it’s good to be prepared. We&#39;ll also provide practical tips and best practices to maintain a <a href="https://seedblink.com/en/2024-02-20-6-common-cap-table-problems-in-vc-fundraising-1-2">healthy cap table</a>, even when going is tough.
<h2 id="1-divesting-a-co-founder">1. Divesting a co-founder.</h2>
Divesting refers to removing a co-founder from a company&#39;s ownership structure, which can happen for personal and performance-related reasons.
Divesting a co-founder has an impact on your cap table.
Changing the equity structure after a co-founder leaves leads to a proportional increase in ownership percentage for the remaining founders and shareholders. The departing co-founder&#39;s shares get redistributed amongst those who remain. 
It can be a positive outcome, but it&#39;s important to understand the dilution effect and ensure a fair deal for all parties.
There are two ways to handle the buyout:
<ul>
<li>Company buyback — The company uses its own funds to purchase the co-founder&#39;s shares. It reduces the total number of outstanding shares, increasing everyone else&#39;s ownership percentage. </li>
</ul>
&quot;Outstanding shares&quot; refers to the total number of shares owned by shareholders, including founders, employees, and investors.
<ul>
<li>Investor buyout — An existing or new investor acquires the co-founder&#39;s shares. The method does not increase the total number of outstanding shares. New shares are not issued in an investor buyout, so dilution is avoided.</li>
</ul>
📌 Founder tip: Don’t wait for troubles to find you! Include a few divesting clauses to protect your equity and company in your founder&#39;s agreement. Describe in a few words what the process would look like, including valuation methods and possible dispute resolutions that all co-founders agree to when signing the document.
<h2 id="why-is-divesting-a-good-solution-and-when-you-need-it">Why is divesting a good solution, and when you need it?</h2>
Divesting a co-founder is a serious and often challenging decision for any company, and as we saw earlier, it can happen for personal and performance reasons. A co-founder may leave the company for personal reasons like health issues, family relocation, or wanting to pursue a new company.
If co-founders can&#39;t agree on how to move forward due to a personal conflict or one founder becomes incapacitated, divestment can be a way to break the deadlock.
Here are some of the most commonly encountered situations where divesting can be a viable option:
1. Misalignment of vision and goals.
Sometimes, co-founders may start with a shared vision, but their goals and priorities diverge over time. If this misalignment becomes too great, it can hinder the company’s progress, making it necessary to part ways.
2. A shift in focus or a company M&amp;A.
As a company grows, its core business might change, or it can include merging with another company. Your partner might not see the new changes in a bright light or agree with them, even though they are the right solution for the company. 
In cases like this, we recommend handling it through open communication, mediation, negotiation, and consulting with your board members. However, divesting them can be a solution if this fails to work and your co-founder decides to leave.
3. Conflicts and ethical concerns. 
Personal conflicts or ongoing disagreements that disrupt the workflow and morale of the team can be a major issue. If these conflicts can&#39;t be resolved through mediation or compromise, parting ways and divesting a co-founder might be the only viable option. 
Similarly, it can be a solution in case of any unethical behavior, legal issues, or misconduct by a co-founder.
4. Health or personal circumstances. 
Sometimes**, personal health issues or family matters** may prevent a co-founder from fulfilling their role effectively. While this is often handled with empathy and support, in some cases, it may lead to the need for a change in the founding team.
One personal situation that can impact the company’s cap table is the founder’s divorce or legal issues. If the spouse receives shares, they may also gain voting rights, which can affect decision-making processes within the company. The balance of power on the board or among shareholders might shift, leading to potential conflicts or changes in strategic direction.
Additionally, suppose a founder is involved in significant litigation, such as lawsuits related to previous businesses, personal debts, or other legal disputes. In that case, they might need to liquidate some of their equity to cover legal costs or settlements. It can lead to dilution if new shares are issued or changes in ownership if shares are sold.
Legal issues can also impact the founder’s reputation, especially if the company <a href="https://tech.seedblink.com/financing-solutions">prepares for a fundraising round</a>, potentially affecting investor confidence. Investors might push for the founder’s removal or restructuring of the ownership to protect their investment.
<h2 id="tips--tricks-for-divesting-a-co-founder">Tips &amp; tricks for divesting a co-founder</h2>
When a co-founder is no longer a good fit for the company, it can be helpful to have a plan in place for how to divest them from their equity. Divesting a co-founder can be a complex and emotionally charged decision, but it is often necessary for the health and success of the startup.
Here are some tips and tricks for divesting a co-founder the right way:
<ul>
<li>Communicate openly and honestly with the co-founder about your reasons for divesting. It’s important to avoid any misunderstandings or resentment.</li>
<li>Be prepared to negotiate with the co-founder about the terms of the divestiture. It may include the price of their equity, the form of payment, and any other relevant terms.</li>
<li>Get legal and financial advice. Ensure the process is handled properly and that all implications are considered.</li>
<li>Evaluate the impact on the company. Divesting a co-founder can hurt the company&#39;s confidence and culture. It is important to be mindful of this and mitigate potential problems.</li>
</ul>
<h2 id="managing-dead-equity">Managing dead equity</h2>
Dead equity occurs when shares in a company are held by individuals who are no longer actively contributing to the company&#39;s success. A cap table overloaded with dead equity can be demotivating for the current team. 
When the co-founder leaves the company or is no longer contributing actively to the company’s success but still owns a significant amount of ownership. In general, departing founders are the main source of dead equity on company cap tables.
As you already saw, founder agreements can solve many problems later if developed early and well enough. Make sure to insert a few lines on how you would address the situation if your co-founder is no longer actively involved or wants to leave the company.
📌 Founder tip: Pawel Maj recommends using<a href="https://www.linkedin.com/pulse/reverse-vesting-pawel-maj-1c/"> the reverse vesting method</a>, and if founders agree to leave within a specified period of time, they are obliged to resell some or all of their shares to the other founder(s).
<h2 id="why-is-it-important-to-solve-dead-equity-and-how-can-it-be-done-right">Why is it important to solve dead equity, and how can it be done right?</h2>
The most direct consequence is a de facto decrease in ownership percentage for the remaining founders and ESOP holders, contributing to the company&#39;s growth. The co-founder&#39;s unutilized shares dilute the ownership of those driving the company forward.
Dead equity in your cap table is a red flag for investors.
Investors often view <a href="https://seedblink.com/en/2024-02-29-why-is-a-cap-table-a-dealbreaker-for-vc-in-startup-funding-2-2">a cap table</a> with significant dead equity as a red flag. It can signal potential governance issues, a need for more alignment between ownership and contribution, and problems in making strategic decisions. It can make fundraising more difficult and lead to less favorable terms for the company.
Here are some ways to avoid dead equity with a co-founder.
<ul>
<li>Pick your co-founders wisely — Avoid choosing co-founders based only on personal relationships, and make sure that <a href="https://seedblink.com/en/2024-06-03-the-founder-factor-on-startup-success-solo-vs-co-founders">co-founders are passionate, committed, and skilled</a>. Equity splits should not factor in friendship but should be based on each person&#39;s value to the company.</li>
<li>Think carefully about your equity split — Figure out <a href="https://seedblink.com/en/2024-02-15-founder-equity-split-%E2%80%94-is-equality-the-best-decision">how you split equity with your co-founders</a> before starting the company. A 50/50 split is not always the best-case scenario. The level of ownership held should reflect each founder’s initial contributions (time, money, intellectual property, assets, etc.), commitment level, network and contacts for raising capital and onboarding advisors, pay equity, skills, and experience.</li>
<li>Implement vesting schedules — Use standard vesting schedules for all founders and employees, and avoid acceleration clauses. Do not include acceleration provisions for termination (for any reason) to avoid dead equity, as these can lead to disputes or litigation.</li>
</ul>
<h2 id="what-do-you-do-if-your-co-founder-passes-away">What do you do if your co-founder passes away?</h2>
One situation where implementing vesting schedules or having a good founders’ agreement can have a big impact is when one of the co-founders passes away unexpectedly. 
The ownership of the deceased co-founder&#39;s equity will depend on their will, state law, and existing agreements, such as a co-founder agreement or a buy-back provision. In the case of the unvested shares, they may revert to the company if the deceased co-founder had not yet fully vested in their equity.
However, in the case of vested shares, where the founder has beneficiaries, these are typically inherited by their family members. It introduces new shareholders who may not be familiar with the business or have a strong interest in its operations.
The involvement of new shareholders can lead to potential conflicts, especially if they have differing opinions on company management or strategic decisions.
To manage the company&#39;s equity effectively after a co-founder&#39;s death, consider these tips:
<ul>
<li>Review existing agreements: Carefully examine the co-founder agreement, buy-back provision, and any other relevant contracts to determine the ownership of the deceased co-founder&#39;s equity and any potential rights of the heirs.</li>
<li>Communicate with stakeholders: Open and transparent communication with the company&#39;s board of directors, employees, and relevant investors is crucial to maintain trust and address concerns.</li>
<li>Consider liquidity options: Explore potential liquidity options, such as<a href="https://seedblink.com/secondary-market"> secondary market transactions</a> or company acquisitions, to provide liquidity for the deceased co-founder&#39;s heirs or for the company to repurchase vested shares.</li>
<li>Update company records: Make necessary changes to the company&#39;s capitalization table and other relevant records to reflect the changes in ownership structure.</li>
</ul>
<h2 id="dead-equity-from-departing-esop-holders">Dead equity from departing ESOP holders</h2>
When an employee who holds equity leaves the company, the shares they own might be subject to repurchase or redistribution based on the terms of their employment contract or shareholder agreement. It can affect the overall equity distribution among the remaining stakeholders.
Unvested shares.
Similarly to the co-founder situation, if the departing employee has not fully vested their stock options, the unvested portion usually reverts to the company’s equity pool. These shares can be reallocated to new or existing employees, which can help attract or retain talent.
Vested shares.
The challenges come with the vested shares, where the repurchase of shares or reallocation can lead to changes in dilution. If the company buys back shares, it might reduce the dilution for remaining shareholders. 
Best practices for managing dead equity with company leavers
<ul>
<li>Having clear policies for <a href="https://tech.seedblink.com/esop-management">ESOP management </a>in case of departures helps smooth transitions. It includes clearly defined vesting schedules, repurchase rights, and redistribution protocols.</li>
<li>Keep open lines of communication with employees to explain how departures will affect their equity and ESOP. Transparency helps maintain trust and morale.</li>
<li>Seek legal and financial advice to<a href="https://tech.seedblink.com/esop-design"> implement a strong employee stock option plan</a> right from the start and address the complexities encountered along the way.</li>
<li>Regularly review and update your ESOP plan to align with the company’s growth, changes in the workforce, and strategic goals.</li>
</ul>
<h2 id="future-thoughts">Future thoughts.</h2>
Handling unusual personal situations involving co-founders can be challenging for startups, requiring careful consideration of equity management and potential liquidity options. 
While unforeseen events like death, divorce, or bankruptcy may disrupt the <a href="https://seedblink.com/en/2023-12-18-equity-ownership-empowering-investors-and-founders-in-the-startup-landscape">company&#39;s ownership structure</a>, there are strategies to mitigate risks and protect your equity.
Seeking legal and financial counsel from experienced professionals is required to navigate complex situations involving co-founders&#39; equity. Attorneys specializing in business law can advise on contractual agreements, inheritance laws, and bankruptcy proceedings. Financial advisors can guide you on liquidity options, tax implications, and investment strategies.
Last but not least. When addressing the personal situation of a co-founder, show empathy towards the person’s problem but keep a focus on the company&#39;s long-term interests. The decisions should be in the business&#39;s best interest, preserving its stability and operations.
Want to read more articles like this? Subscribe to the<a href="https://seedblink.com/newsletter"> SeedBlink all-things-equity and investment newsletter.</a>

Learn how to manage your cap table and the ownership holders in your company in different unusual situations. 

Divestment & dead equity. How do you manage your cap table in unusual situations? 

DevOps it&#39;s all about developers and operations teams breaking down silos and working together to innovate faster. For many companies, the ability to innovate at a fast pace — responding to market conditions and customer feedback — is a key factor for success. Adopting the DevOps philosophy requires a new mindset, new tools and new skills.
<h1 id="what-is-devops">What is DevOps?</h1>
Market data and industry experts mention that<a href="https://www.youtube.com/watch?v=rUfNMlggCLg&amp;t=1s"> 47% of teams have adopted full test automation</a>, almost double the previous year, indicating the increasing importance of automated testing. According to <a href="https://www.linkedin.com/in/ddesanto">David DeSanto</a>, VP of Product at GitLab, who had a recent conversation at It Works On My Computer podcast by Bunnyshell, a DevOps platform is essential, as teams using six to ten tools face increased complexity and maintenance challenges. Moreover, it fosters a culture of shared responsibility, boosting team morale and productivity. 
<iframe width="560" height="315" src="https://www.youtube.com/embed/rUfNMlggCLg?si=buM74grWhRe5_9f5" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

<h2 id="key-concepts-in-understanding-devops">Key Concepts in Understanding DevOps</h2>
If you&#39;re looking to dip your toes into the thriving ocean of DevOps, there are a few key concepts you should become familiar with. These principles shape the industry and are instrumental in understanding how it works.
Let&#39;s dive in, shall we? 
1. Continuous Integration and Continuous Deployment (CI/CD) 
Picture a manufacturing assembly line but for software. That&#39;s CI/CD — a process that allows developers to integrate code into a shared repository several times daily. It&#39;s like a well-oiled machine, churning out software updates faster than you can say &quot;DevOps.&quot;
2. Infrastructure as Code (IaC) 
It&#39;s a fancy term, but at its core, it&#39;s about managing and provisioning computer data centers through machine-readable files rather than physical hardware configuration. Simply put, it&#39;s like building software to manage your software. 
3. Microservices 
This architectural style breaks down applications into smaller, independent services that can be deployed and scaled separately. It&#39;s like breaking a bar of chocolate into its squares, each a delicious, self-contained treat. 
With these key concepts under your belt, you&#39;re well on your way to exploring the dynamic landscape of DevOps.
<h1 id="why-and-how-companies-are-using-devops">Why and how companies are using DevOps?</h1>
DevOps acts like a shot of adrenaline to the development process. 
This methodology encourages a culture of fast iterations, incremental improvements, and constant delivery. It’s like having your in-house pit crew ready to tweak, tune, and turbocharge your tech as you race toward your objectives. 
Startups are always battling against time and budget constraints. By breaking down the silos between development and operations teams, DevOps optimizes the use of resources, reducing costs and accelerating delivery times. In other words, it&#39;s like having an early warning system for your tech infrastructure.
<h1 id="the-state-of-devops-in-2023">The State of DevOps in 2023</h1>
The DevOps market is experiencing remarkable growth. In 2022, the <a href="https://www.researchandmarkets.com/reports/4904705/global-devops-market-by-offering-services">market was valued at $8.5B</a>, and experts predict it will continue to expand at a compound annual growth rate (CAGR) of 10.7% and reach $19.4B by 2030. This surge can be associated with various factors, including the increasing adoption of cloud technologies, rapid application delivery, advancements in artificial intelligence, and software automation. 
<img src="/img/screenshot-2024-07-08-122839.png" alt="">
Source: <a href="https://www.researchandmarkets.com/reports/4904705/global-devops-market-by-offering-services">Global DevOps Market </a>
Organizations that have embraced DevOps solutions are already reaping benefits such as faster software delivery, reduced coding errors, quicker issue resolution, and optimized allocation of IT resources, creating a favorable environment for the DevOps industry.
<img src="/img/screenshot-2024-07-08-122941.png" alt="">
Source: <a href="https://sapphireventures.com/blog/future-of-devops-ecosystem-european-players/">Future of DevOps Ecosystem by Sapphire Ventures</a>
VC Investors in DevOps
The DevOps industry has caught the attention of some of the top venture capital funds, leading to significant <a href="https://investors.seedblink.com/">investments in innovative startups</a> and companies. 
Sequoia Capital, Accel, Index Ventures, and Lightspeed Ventures Partners are just some of the most active VC funds actively seeking opportunities in the DevOps space. These funds recognize the immense potential of DevOps in transforming software development and delivery, and they are keen to support startups at the forefront of this technological revolution.
<img src="/img/screenshot-2024-07-08-123105.png" alt="">
Source: <a href="https://files.pitchbook.com/website/files/pdf/Q2_2021_Emerging_Tech_Research_Cloudtech_DevOps_Preview.pdf">Emerging Tech Research — Pitchbook
</a>
<h1 id="the-european-devops-ecosystem">The European DevOps ecosystem</h1>
In part, Europe&#39;s strength in the DevOps arena can be attributed to its vast and diverse developer talent pool. With 8.8 million developers, Europe boasts 30% of the world&#39;s open-source developers. It continues to attract new talent through computer science graduates and remote work opportunities, further enriching the continent&#39;s talent base. 
The catalytic effect of the COVID-19 pandemic has accelerated the adoption of DevOps principles and drawn ambitious entrepreneurs to contribute to open-source projects and develop cutting-edge tools in Europe and Israel. 
Our European ecosystem showcases several exciting trends that mirror those seen globally. Machine learning&#39;s integration into the software development life cycle (SDLC), software supply chain security, continuous experimentation, shifting right, and measuring and improving engineering productivity are all driving forces behind the region&#39;s DevOps evolution. 
Moreover, the focus on next-gen development environments indicates a forward-thinking approach to development practices in the European DevOps landscape.
<h2 id="local-success-stories">Local Success Stories</h2>
GitLab
<iframe width="560" height="315" src="https://www.youtube.com/embed/rkFMgQ_WL74?si=KLOzFn6SXJLvv0Hm" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

GitLab is the leading DevOps platform that provides a complete set of tools to manage the entire software development lifecycle. Offering an all-in-one solution for version control, continuous integration, continuous delivery, security, and more, GitLab has gained immense popularity among development teams worldwide. It enables seamless collaboration, faster development cycles, and improved project visibility. 
With +$413M in total funding raised and a valuation exceeding $6 billion, GitLab is one of DevOps&#39;s most preferred success stories. Its platform remains a go-to choice for organizations looking to enhance their practices.
Grafana Labs
<iframe width="560" height="315" src="https://www.youtube.com/embed/0n2UNzk2OaI?si=eF1XVbC6lFgzlCrB" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

Grafana Labs has emerged as a key player in DevOps teams&#39; observability and monitoring space. Their flagship product, Grafana, is an open-source analytics and visualization platform that empowers users to effortlessly track, analyze, and alert on their metrics data. Grafana&#39;s flexible and user-friendly interface has attracted a vast community of users and contributors. 
With +$535M in total funding raised and a valuation surpassing $1 billion, Grafana Labs has become a DevOps success story due to its widespread adoption. The company gained a strong position since it has a critical role in helping organizations gain insights into their complex systems and applications.
Snyk
<iframe width="560" height="315" src="https://www.youtube.com/embed/2oCog1TGM0w?si=GM-zOQ14cNYEpbGz" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

Headquartered in the United Kingdom, Snyk is a DevOps security platform that addresses vulnerabilities in open-source libraries and containers. As open-source adoption continues to rise, ensuring the security of third-party code has become a critical concern for developers. 
Snyk offers a comprehensive solution that allows organizations to identify and remediate security issues early in the development process, reducing the risk of potential breaches. With its innovative approach to security and +$1.2B funding raised in +10 rounds, Snyk has earned its unicorn status and is actively helping organizations worldwide embrace secure DevOps practices.
The DevOps market is thriving, driven by cloud adoption, AI advancements, and the need for faster software delivery. 
The pandemic has only accelerated this growth as businesses embraced digital transformation. While challenges exist, the ongoing efforts to standardize and optimize DevOps practices indicate a promising outlook for the development of the operations industry.
With its vibrant talent pool and an array of promising startups, Europe stands as a strong ecosystem for DevOps innovation, poised to shape the future of software development and delivery globally.
Read more articles about startups, financing, and equity ownership on <a href="https://seedblink.com/blog">our blog</a>.

Unlock valuable insights into DevOps trends, investment opportunities, and associated risks for savvy investors. Read our blog post now and stay ahead of the curve.

DevOps Investment 101: An overview of investing in a high-growth industry

<h2 id="a-lot-of-interesting-news-to-talk-about-scroll-down-for">A lot of interesting news to talk about. Scroll down for:</h2>
<ul>
<li>Primary Market: active opportunities</li>
<li>Secondary market updates</li>
<li>Investors resources picks</li>
</ul>
<h2 id="active-opportunities">Active opportunities</h2>
🇺🇸 VC-Backed | AI &amp; MobilityTech | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Df2d53b3df9%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C1204950aaebd481f1a0e08dc99973524%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638554121924746360%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=9p05iPqSsaRn4b7obUkEpXGpdofCpvP3E4tAHmVh5dg%3D&amp;reserved=0">ADASTEC</a> extends its Series A round to scale its B2B/B2G solution of autonomous electric buses on a global scale.
🇬🇷 VC-Backed | Enterprise SaaS | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D71d6881e8f%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C1204950aaebd481f1a0e08dc99973524%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638554121924762867%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=cSgIKG2qiENDkZM2PZmUzhDi1JRGK65BmmUNODIRMW8%3D&amp;reserved=0">MyTeam </a>is raising up to €2M to help sports clubs to become profitable. With an ARR of €120,000, the Greek startup is backed by Eleven and Genesis Ventures.
🇦🇹 VC-Backed | SaaS | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D8c869c3605%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C1204950aaebd481f1a0e08dc99973524%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638554121924774647%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=s8eEJn4RJP%2B2w%2BDFki4AZII%2FjZQxV1Rr7i1c3KN%2FPcA%3D&amp;reserved=0">Klarsicht </a>is raising €590,000 to scale its digital marketplace connecting opticians, manufacturers, and customers. Backed by ProSieben/Sat1 Group and GMPVC, offering €20.8M in marketing volume for equity after the round. 
<h2 id="liquidity-on-your-terms">Liquidity on your terms</h2>
In H1 2024, the SeedBlink Secondary Market facilitated transactions totaling €240,588.61 across 58 deals. Investors who closed their negociation in Q2 2024 can expect to receive their documents for signature in July.
<a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Df3df4ad12f%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C1204950aaebd481f1a0e08dc99973524%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638554121924796637%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=qmkbR5cHDtTxlIWPrnaxzPl%2F0lDJaeouV6ATsAsNKgQ%3D&amp;reserved=0">Check the H1 Secondary Market Report.</a>
<h2 id="investors-resources-pick">Investors resources pick</h2>
June Portfolio updates | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D9a7fc99218%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C1204950aaebd481f1a0e08dc99973524%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638554121924805592%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=GMahUyaJeVNyGQlPJh7w%2BytzaIZyb2LeTnfRqY0b094%3D&amp;reserved=0">Learn more</a>
As we reach the end of Q2 and the midpoint of the year, we are excited to share updates from our portfolio companies. From Alcatraz and FLOWX.AI to Bonapp and Swisspod, startups continue to achieve significant milestones that we know you’ll appreciate. 
AI Europe Report | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D03d9f03b19%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C1204950aaebd481f1a0e08dc99973524%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638554121924812443%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=7mO8mpl5OxzPqeof%2Fm8mMm9ZOTpCLNUtyflhqZi4Bws%3D&amp;reserved=0">Learn more</a>
AI now accounts for it&#39;s largest ever share of European venture capital. European AI is extremely concentrated in the UK, France and Germany. These three make up 77% of European AI funding in 2023/34, compared to 59% for the rest of tech. 
Mid-year outlook 2024 | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dab4c7872b9%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C1204950aaebd481f1a0e08dc99973524%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638554121924819770%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=94Jv4LVZpEak3BqtIMp0aejaEq4L9SGCDWB6PuQyoWM%3D&amp;reserved=0">Learn more</a>
After decades of generally declining interest rates, low inflation and the rapid advance of globalization, we are facing a new reality of investing. Read about different scenarios in the years ahead.
The battle for your brain | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D3cdf6d6021%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C1204950aaebd481f1a0e08dc99973524%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638554121924827599%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=vhhcBgcDHkD0yQWWDnPok5IgpTH6mkGmFSyj5QZ6JIM%3D&amp;reserved=0">Food for thought</a>
Tech that aims to read your mind and probe your memories is already here. We need new rules to protect our cognitive liberty, says futurist and legal ethicist Nita Farahany.
<h2 id="3-takeaways-from-tech-investors-academy">3 takeaways from Tech Investors Academy</h2>
This week at Tech Investors Academy we looked closely at cross-border investments. Key takeaways:
<ul>
<li>Conduct thorough due diligence to understand a startup&#39;s reasons for seeking cross-border investments and assess the viability and potential risks.</li>
<li>Be aware of the significant challenges startups face in international markets, including local legal frameworks, market conditions, and liabilities in foreign countries.</li>
<li>A diverse group of investors, especially those with international experience, can provide valuable support and resources for startups looking to expand.</li>
</ul>
<a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Df7d94123a4%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C1204950aaebd481f1a0e08dc99973524%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638554121924835669%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=%2BPiccfJ5w5hTVxElwSm59lRk6rZTazjEqSq%2FYTj8Wqw%3D&amp;reserved=0">You can still register</a> for Tech Investors Academy - join our self-paced, online course.

In a market thirsting for solutions to liquidity challenges, Oliver Holle, managing partner of Austrian VC Speedinvest, aptly notes “the industry desperately needs to solve the liquidity issue we all face.” 
This sentiment echoes the concerns of VCs and all stakeholders in the investment arena. Recognizing this, we&#39;ve invested our energy into facilitating early liquidity for our vibrant community of investors through the SeedBlink Secondary Market.
Launched in March 2023, the Bulletin Board has quickly become an essential tool for those seeking liquidity and new investment opportunities. The first half of 2024 has been particularly dynamic, reflecting the market&#39;s growth and the increasing engagement from our community. 
The platform has seen 654 sell offers and 85 buy offers, demonstrating robust activity and interest from investors. Notably, three investors have completed over 10 transactions each, and several have total transaction values exceeding €50,000 and €30,000, indicating strong confidence and engagement in the market. 
One of the key attractions of the SeedBlink Secondary Market is its ability to provide liquidity and freedom to investors. Here, you can sell your shares early to suit your strategy, or post a buy request if you missed out on an initial investment opportunity, allowing sellers to find you. This flexibility means you can set your own exit timelines without enduring the traditional long waits, enjoying the same potential for returns with less risk and more freedom.
While negotiations can occur at any time, the final transaction documents required for registration with authorities are dispatched at the end of each quarter. Investors who closed their negociation in Q2 2024 can expect to receive their documents for signature in July. During these events, our entire team gathers to ensure a seamless transfer of ownership between parties. With opportunities to invest or sell ownership in 45 tech companies of varying maturity levels and no minimum ticket required, these events are not to be missed.
<h1 id="whats-next">What’s next</h1>
Looking ahead to H2 2024, we have ambitious plans to further enhance the SeedBlink Secondary Market. We aim to make our market convertible and SAFE-friendly, expanding its functionalities to accommodate a variety of investment vehicles. Additionally, we are committed to enhancing communication and reporting, ensuring a seamless and transparent experience for all investors.
As we continue to build on the successes of the first half of the year, we invite you to explore the opportunities available on our platform. Whether you’re looking to invest or sell, the SeedBlink Secondary Market offers a dynamic and flexible environment tailored to meet your needs.
For more information and to see the current offers, visit our<a href="https://seedblink.com/secondary-market"> SeedBlink Secondary Market page. </a>

In H1 2024, the SeedBlink Secondary Market facilitated transactions totaling €750,588 across 58 deals. This impressive figure adds to the €526,761 recorded in 2023, bringing the all-time transaction value to €1,517,938.

SeedBlink Secondary Market H1 2024 Report 

These companies continue to achieve significant milestones that we know you’ll cherish. Here are the latest highlights of the startup’s you’ve backed so far: 
Alcatraz AI, the Bulgarian AI-security startup, has partnered with Genetec to enhance enterprise access control and physical security measures. Together, Alcatraz AI and Genetec deliver access control solutions that increase the security of protected facilities and provide business insights while simultaneously making the experience frictionless and touchless for end users.<a href="https://www.securityinfowatch.com/video-surveillance/press-release/53059100/alcatraz-ai-alcatraz-ai-collaborates-with-genetec-to-advance-enterprise-access-control-and-physical-security"> More info</a>. 
Bonapp.eco is<a href="https://www.revistabiz.ro/bonapp-anunta-extinderea-in-150-de-orase-noi/"> expanding its services to 150 new cities</a> through an extended partnership with PENNY Romania, aiming to make sustainable consumption more accessible. In addition, Bonapp.eco users have collectively saved over €2.5 million by purchasing food items close to their expiration date. 
DRUID has successfully<a href="https://www.linkedin.com/posts/druidai_octavian-ai-casestudy-activity-7209887831299674114-VU7z?utm_source=share&amp;utm_medium=member_desktop"> assisted OTP Bank in enhancing their digital operations</a>. By leveraging advanced AI capabilities, DRUID has streamlined various processes, contributing to improved efficiency and customer experience. 
FieldOS, the Romanian startup providing software solutions for managing field teams, has opened a €1 million funding round. The funds will primarily support international expansion in Europe and the USA. The new version of their application allows companies to configure it according to their needs without requiring technical knowledge. <a href="https://m.zf.ro/zf-it-generation/zf-it-generation-start-up-update-ion-gavrilescu-cofondator-fieldos-22397772?trk=feed_main-feed-card_feed-article-content">FieldOS is in discussions with two investment funds</a> to secure the necessary capital for their ambitious growth plans. 
<a href="http://flowx.ai/">FLOWX.AI</a>, the Romanian DNA startup, has been used by OTP Bank Romania to <a href="https://business-review.eu/money/banking/otp-bank-romania-utilizes-flowx-ai-for-modern-digital-mortgage-platform-dedicated-to-brokers-262999">modernize its digital mortgage</a> services for brokers. This technology has streamlined the mortgage application and approval processes, making them more efficient and user-friendly. The implementation of FLOWX.AI’s solutions has enabled OTP Bank to offer a superior digital experience to its customers and brokers, enhancing operational efficiency and customer satisfaction. 
<a href="https://alternativecreditinvestor.com/2024/06/20/lande-reopens-secondary-market/">Lande has successfully reopened its secondary market</a>, providing investors with enhanced liquidity options. This move is expected to attract more investors and increase trading volumes on the platform. 
Stasher has acquired StoreMe, <a href="https://www.phocuswire.com/stasher-acquires-store-me-north-america-expansion">expanding its footprint in North America.</a> This acquisition will enhance Stasher&#39;s ability to provide convenient storage solutions across major cities in the region. 
<a href="https://www.linkedin.com/company/swisspod/">Swisspod&#39;</a>s team in <a href="https://www.linkedin.com/feed/hashtag/?keywords=switzerland&amp;highlightedUpdateUrns=urn%3Ali%3Aactivity%3A7201872404598501378">Switzerland </a>completed a record-breaking 5.4 km hyperloop journey, reaching a top speed of 50 km/h. This test is a significant step towards their full-scale model, which aims to achieve speeds of 600 km/h over a 64.8 km journey. Additionally, Swisspod has completed 40 km of successful tests, equivalent to a 480 km passenger ride, and welcomes <a href="https://www.linkedin.com/pulse/3-days-debris-flows-countries-3000-kilometers-maarten-zwarts-cuo6e/?trackingId=8bUXWEbBatODcu3H5Xx0bQ%3D%3D">Robert Karsunky to their Board of Directors</a>. 
Willicroft continues to gain recognition as Michelin Star Restaurant Triptyque joins the movement. This partnership underscores the quality and appeal of Willicroft&#39;s offerings, attracting top-tier culinary establishments. <a href="https://www.linkedin.com/posts/willicroft-plantbasedcheese_original-better-is-collecting-more-and-more-ugcPost-7205854775068803072-8f0S?utm_source=share&amp;utm_medium=member_desktop">Read more about it</a>. 
As we continue through the year, we look forward to witnessing further growth and success from our portfolio companies. Stay tuned for more updates and exciting news in the coming months. 
To support any of our Portfolio companies with your network, knowledge, or mentorship, please contact us at <a href="mailto:investors@seedblink.com">mailto:investors@seedblink.com</a>.

As we reach the end of Q2 and the midpoint of the year, we are excited to share some updates from our portfolio companies.

Investor Insight: June 2024 Portfolio success stories 

David H. Keller introduced the concept of self-driving cars in 1935, transforming what was once science fiction into today&#39;s reality. Now, the focus has shifted to self-driving buses. While the idea of a car that drives itself, allowing the driver to relax, is appealing, a driverless bus, navigating city streets, raises significant questions. How safe are these buses? Does this technology contribute to the growing concern of AI displacing jobs? In fact, self-driving buses can offer substantial societal benefits. Let&#39;s delve into how this innovation can create a safer future for both drivers and passengers. 
<h2 id="addressing-the-bus-driver-shortage">Addressing the bus driver shortage</h2>
Concerns about driverless buses leading to job losses are mainly unfounded. In reality, Europe faces a bus driver shortage of 10%, leaving 105,000 positions unfilled. This shortage has increased by 54% since 2022, and projections for 2028 suggest it will likely double (Source: <a href="https://www.iru.org/news-resources/newsroom/europes-bus-and-coach-driver-shortage-widens-54-grim-outlook-2028">IRU.org</a>). The current shortage forces many bus drivers to work split shifts and overtime, jeopardizing their health and driving safety. 
<h2 id="legislative-landscape-and-job-security-for-bus-drivers">Legislative landscape and job security for bus drivers</h2>
In the USA, current legislation mandates that driverless buses, regardless of their technological advancements, must have a supervising driver on board. This requirement ensures job security for bus drivers. However, it is anticipated that these laws will evolve over time. 
In contrast, <a href="https://traton.com/en/newsroom/stories/legal-framework-in-the-eu-driverless-through-europe.html">Europe </a>is already laying the groundwork for the legal operation of driverless buses, with Germany permitting them on certain roads. This raises the question: will bus drivers become redundant? <a href="https://www.adastec.com/">Adastec</a>, the developer of SAE Level 4 automated driving software, believes otherwise. Their vision is for transportation agencies to create new career paths for bus drivers, offering opportunities for career advancement and safer working conditions. 
In essence, bus drivers will transition to the role of bus operators, where they will oversee multiple buses from a central platform, ensuring passenger safety and efficient traffic management. This shift not only secures their employment but also enhances their professional development and working environment. 
<h2 id="scaling-up-quickly">Scaling up quickly</h2>
Adastec, founded in 2018, is the most advanced company in the full-size bus automation market. Headquartered in Michigan, USA, with engineering teams in Turkey, Adastec is pioneering a safer future for drivers and the public by developing automated, shared, and connected commercial vehicles. Their Flowride.ai software platform, designed for full-size buses, utilizes fault-tolerant sensors, HD maps, advanced sensor fusion, and deep learning techniques to ensure reliability and safety. Notably, Adastec is the only company currently licensed to deliver autonomous buses in the USA and has signed manufacturer agreements to supply a complete factory-fitted solution. It has already been in operation for two years in Michigan (NHTSA approved) and for 20 months in Norway (TUV Nord approved). 
As a fast-scaling startup, Adastec secured its first deal with SeedBlink and a private equity firm. They are now raising a $20 million round at a $15 million post-money valuation. With paying customers in Norway, Turkey, the Netherlands, and Romania, Adastec is solidifying its position as a global leader in autonomous bus technology. 
<h2 id="a-broader-look-at-the-bus-market-and-adastecs-solutions">A broader look at the bus market and Adastec&#39;s solutions</h2>
With increasing concerns about environmental issues, rising gas costs, and overall traffic congestion, more people are choosing to drive less. Consequently, the global bus market is projected to grow at an 8% CAGR, reaching $72 billion by 2028, up from $47 billion in 2022. This trend presents a significant opportunity for Adastec, which offers buses that are five times more cost-effective than traditional models: each bus has a setup cost of $100,000 and an annual license fee of $50,000. At this rate, Adastec expects to break even by 2026, having sold 200 buses. 
Adastec has already secured three OEM agreements for automated buses with Karsan (EU), Custom Denning (Australia), and VCM (USA). Additionally, five deployment agreements have been successfully implemented in the US, Norway, France, Romania, and Turkey. The company boasts a total pipeline of $32 million, including $7 million under contract in France, Israel, Turkey, Germany, and Australia. 
Adastec is driven by its team of five complementary co-founders and a dedicated workforce of 75 full-time employees, including 60 engineers. This success story demonstrates that future technologies are not intended to steal jobs but to address labour shortages, enhance employees&#39; lives, and create a safer future for everyone. 
<a href="https://investors.seedblink.com/invest/adastec/256">Explore their active raise on SeedBlink here.</a>

Are autonomous buses a necessary asset?

The road ahead: the future of self-driving technology 

Understand how due diligence works and what's important for investors and founders at each stage. Learn actionable steps to prepare and ensure a smooth fundraising journey

A guide on how to prepare for due diligence when fundraising

<h2 id="a-lot-of-interesting-news-to-talk-about-scroll-down-for">A lot of interesting news to talk about. Scroll down for:</h2>
<ul>
<li>Primary Market: active opportunities</li>
<li>Secondary market updates</li>
<li>Investors resources picks</li>
</ul>
<h2 id="raising-now">Raising now</h2>
🇦🇹 VC-Backed | SaaS | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D00dd10057c%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C7783e197679b483b621008dc8e96fac2%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638542026313385831%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=XSa0n7XfSAU7aQQ410N2dYlicbIWDRj4w%2BltCdB18Z0%3D&amp;reserved=0">Klarsicht </a>is raising €590,000 to scale its digital marketplace connecting opticians, manufacturers, and customers. Backed by ProSieben/Sat1 Group and GMPVC, offering €20.8M in marketing volume for equity after the round.
<h2 id="liquidity-on-your-terms">Liquidity on your terms</h2>
Invest or sell your ownership in 45 tech companies with different maturity levels and no minimum ticket. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D82a453c6e1%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C7783e197679b483b621008dc8e96fac2%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638542026313395176%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=45FYwFhtKDyL6UWpowF9lc9Gf18pbWOLpvEkuM3qGBg%3D&amp;reserved=0">Check the Bulletin Board.</a>
<h2 id="5-takeaways-from-tech-investors-academy">5 takeaways from Tech Investors Academy</h2>
We recently wrapped up Lesson 1 of our online investment course, covering Deal Assessments &amp; Portfolio Diversification. Here are the top 5 takeaways our participants found most valuable:
<ol>
<li>When assessing non-financial factors, the quality of the team should be your main focus.</li>
<li>Spread your investments across more than 15 startups in different sectors and business models to reduce risk and boost returns.</li>
<li>Always have a clear exit strategy from the beginning.</li>
<li>Keep funds aside for follow-up investments in the startups that show success.</li>
<li>Over 80% of investments might not yield returns, underscoring the importance of diversification and follow-on strategies.</li>
</ol>
<a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D6aea7abcc4%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C7783e197679b483b621008dc8e96fac2%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638542026313401760%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=VQPO8Kwj03%2Fvpj3Dpb7%2FtS7E%2BRLGY9jnqZF2YE1cfzc%3D&amp;reserved=0">You can still register</a> for Tech Investors Academy - join our self-paced, online course.
<h2 id="investors-resources-pick">Investors resources pick</h2>
Introducing the Rolling Facility | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D21296c6abf%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C7783e197679b483b621008dc8e96fac2%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638542026313410899%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=kyYuOGsrFyckiyIx7jm95L2ywUOYwjwsrfm0ByzsVtM%3D&amp;reserved=0">Learn more</a>
In the challenging landscape of startup funding, we introduce Rolling Facility. This innovative approach allows continuous fundraising, reducing the pressure on founders and enabling them to engage with potential investors at any time. 
2024 Technology Pioneers | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D49dfb04f80%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C7783e197679b483b621008dc8e96fac2%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638542026313417763%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=llCKfrym3toxnUn4KzHPRWu1V9di8USufgIXY5SSt%2B4%3D&amp;reserved=0">Learn more</a>
The World Economic Forum announces this year’s 100 companies joining its Technology Pioneers Community as part of the 2024 cohort. These companies are applying new advances in AI to develop industry solutions, including breakthrough innovations in clean energy, healthcare, biotech, space and neurotechnology.
Tracking startups’ lives | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dc7793324ab%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C7783e197679b483b621008dc8e96fac2%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638542026313424319%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=C1YSiqxzMQZWhNCO01ojDjPTDaX4h3VTMkfQFWfynlo%3D&amp;reserved=0">Learn more</a>
How many rounds of venture capital financing does the average European startup go through? The median European startup with a €500 million+ exit only went as far as a Series C. 
Future of data | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D2deccde5f9%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C7783e197679b483b621008dc8e96fac2%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638542026313436080%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=VNFST6tHTK4qKHAFV5rK5tbmutIIrI52ZPRzh405V6g%3D&amp;reserved=0">Tune in</a>
The future economy won&#39;t be built by people and factories, but by algorithms and artificial intelligence, says data scientist Mainak Mazumdar. But what happens when these algorithms get trained on biased data?

The current rocky macroeconomic climate has significantly shortened the cash runway for many startups. According to <a href="https://www.vestbee.com/blog/articles/vc-funding-in-cee-report-q1-2024">recent data from Vestbee</a>&#39;s Q1 2024 report, venture activity in Central and Eastern Europe (CEE) has experienced a decline, with total VC funding reaching approximately €0.5 billion, a 40% decrease compared to the previous quarter. This trend mirrors the broader global decline in venture activity, with notable decreases in seed and Series A investments.
In today&#39;s volatile economic climate, securing funding is more challenging than ever for startups. The metrics required to achieve Series A or Series B funding have increased significantly compared to 12 to 18 months ago, as evidenced by the evolving <a href="https://x.com/chrija/status/1797913781126742099">SaaS Funding Napkin</a>. Traditional funding rounds are now taking longer to close, pushing many early-stage companies to explore alternative financing methods such as revenue-based financing, venture debt, and crowdfunding to extend their runway and sustain growth amid the tightened venture capital landscape.
<h2 id="understanding-bridge-rounds-and-extensions">Understanding Bridge rounds and Extensions</h2>
Bridge Rounds are interim funding rounds that occur between primary financings, typically using instruments like Convertible Notes. They offer a quick influx of capital, helping startups maintain operations and bridge the gap until the next major funding round. 
Extensions allow a reopening of the latest funding round, leaving room for current investors to increase their stakes or new investors to join. It provides additional capital without the need for a completely new funding round. 
<h1 id="introducing-rolling-facilities-a-new-fundraising-approach">Introducing Rolling Facilities: A new fundraising approach</h1>
In the challenging landscape of startup funding, we introduce the Rolling Facility on SeedBlink Syndicates, leveraging our expertise and infrastructure to help founders raise capital without headaches. 
This innovative approach allows continuous fundraising, reducing the pressure on founders and enabling them to engage with potential investors at any time. By consolidating multiple small investments into a single entity, Rolling Facility streamlines cap table management, making it easier for startups to plan financially. This model not only maintains operational stability but also empowers startups to scale efficiently, converting productive conversations into commitments without waiting for traditional funding rounds. 
<h2 id="key-benefits-of-the-rolling-facility">Key benefits of the Rolling Facility</h2>
<ol>
<li>Continuous fundraising: Startups can keep their funding open indefinitely, collecting funds as they grow. This is ideal for founders who anticipate future capital needs but do not require immediate funding. </li>
<li>Reduced pressure on founders: Unlike traditional rounds that demand closing deals within tight timelines, Rolling Facilities offer a flexible timeline, backed by SeedBlink’s support, allowing founders to engage investors without the usual urgency. </li>
<li>Leveraging productive conversations: Any promising discussion with a potential investor can be turned into a commitment without waiting for a new funding round, maintaining momentum and ensuring business focus. </li>
<li>Streamlined investment management: Rolling Facilities consolidate multiple small investments into a single entity, simplifying cap table management and future financial planning for both founders and investors. </li>
</ol>
<h2 id="the-success-of-continuous-funding">The success of continuous funding</h2>
Consider the case of a European tech startup that leveraged Rolling Facility to manage its fundraising process. Rather than waiting for their cash runway to deplete, the company adopted a strategy of keeping their funding open continuously. This approach allowed them to secure commitments from investors at various stages, ensuring a steady inflow of capital. By utilizing a Convertible Loan Agreement (CLA), they were able to close funding rounds in a timely manner that suited their needs—let&#39;s say every six months. 
This strategy has significant advantages: 
<ul>
<li>They avoided the financial stress of sporadic large-scale funding. </li>
<li>They could seize growth opportunities without urgent fundraising. </li>
<li>The founders could concentrate on strategic planning rather than immediate capital needs. </li>
</ul>
The continuous funding approach transformed their fundraising from a reactive, high-stress activity into a proactive, manageable process, contributing to their sustained growth and success. 
In an environment where traditional fundraising is fraught with challenges, bridge rounds, extensions, and Rolling Facility provide viable alternatives that offer flexibility and security. 
By maintaining continuous funding, startups can navigate economic uncertainties more effectively, convert promising leads into investors, and grow without the constant pressure of closing new funding rounds. 
At SeedBlink, our goal is to empower founders with the tools and support they need to thrive, ensuring a robust and sustainable growth trajectory. <a href="https://tech.seedblink.com/syndicates">Get in touch.</a>
--
Editorial written by <a href="https://www.linkedin.com/in/eric-bartha-08154810b/">Eric Bartha</a>, our Head of Revenue at SeedBlink. As an alumnus of Vienna University of Economics and Business, Eric focuses on identifying ambitious founders eager to integrate a European community of investors into their VC fundraising efforts. His role also involves building connections with local partners and family offices.

Running out of operating capital is a startup's worst nightmare. 

Forget huge funding efforts: Rolling Facility and bridge rounds keep your startup thriving

With its rolling green hills and storied past, Ireland isn’t just a haven for history and nature enthusiasts; it has quietly evolved into a bubbling startup ecosystem.
From Dublin&#39;s bustling tech hub to Cork&#39;s innovative spirit, Ireland&#39;s cities serve as ideal springboards for emerging businesses. Let&#39;s delve into the remarkable evolution of startups in Ireland from modest roots to international contenders.
<h1 id="irelands-strong-pillars">Ireland’s strong pillars</h1>
This beautiful country has a robust economic foundation and a reputation for being one of the most business-friendly countries in the world. 
Ireland provides a fertile ground where startups can grow and thrive, and people’s opinions reflect Ireland’s growth in the eyes of the public. According to <a href="https://144147128.fs1.hubspotusercontent-eu1.net/hubfs/144147128/Innovation%20Island%20Pulse%202023.pdf">Tech Ireland’s survey</a>, 64% of people believe that Ireland is a better place to start a business than it was five years ago.
Strategic geographical positioning
Ireland is a bridge gateway between Europe and North America, thus facilitating international business operations. The country also thrives on its rich talent pool, especially in technical aspects, marketing areas, and international relations. Its<a href="https://startupuniversal.com/country/ireland/"> talent pool comes</a> thanks to its strong education system and the presence of global tech giants that have fostered a skilled workforce in the region. 
Coupled with this is the sectoral strength in Agtech, Fintech, and Healthtech, where pre-existing industries and supportive regulatory frameworks have given rise to innovative startups ready to become global contenders.
Flexible financial infrastructure
Ireland has advantageous corporate tax structures and Research &amp; Development tax incentives, serving as springboards for entrepreneurial ventures and overseas <a href="https://investors.seedblink.com/?utm_source=SeedBlink%20Content&amp;utm_medium=ecosystem%20overview&amp;utm_term=Ireland&amp;utm_content=&amp;utm_campaign=all%20things%20equity">investments</a>. 
Ireland&#39;s regulatory bodies have demonstrated a progressive and adaptable approach towards emerging businesses and technologies, particularly in Fintech sectors, which demand a delicate balance between innovation facilitation and risk mitigation.
Great educational infrastructure
The educational background of the country is another pillar that attracts attention. Irish universities and institutions are breeding grounds for young, tech-savvy talent and research and innovation hubs, spawning ideas that often translate into startups. Adding to a collaborative culture that encourages knowledge transfer between academia and industry leads to more innovative solutions. 
Furthermore, with<a href="https://startupuniversal.com/country/ireland/"> international technology giants in the local community</a> and various industries establishing substantial operations in Ireland, there is a reciprocal relationship where corporations and startups can leverage each other&#39;s presence, assets, and expertise to mutual benefit.
<h1 id="the-startup-funding-landscape-in-ireland">The startup funding landscape in Ireland</h1>
Over the years, government funding and assistance predominantly drove the Irish startup ecosystem. However, in the recent 4-5 years, significant exits and international achievements have paved the way for a new generation of entrepreneurs. 
Consequently, while the government laid the foundation, the ecosystem is now transitioning to one that is still supported by governmental initiatives but steered by these seasoned entrepreneurs.
As captured in the<a href="https://144147128.fs1.hubspotusercontent-eu1.net/hubfs/144147128/TechIreland%20Startup%20Funding%20Review%202024%20(FINAL)-1.pdf"> Tech Ireland 2024 Funding Review,</a> the Irish startup ecosystem displayed remarkable resilience in 2023. While total funding dipped from €1.3B in 2022 to €847M in 2023, the number of companies <a href="https://tech.seedblink.com/financing-solutions">securing investment</a> doubled, exceeding 400 companies closing deals last year. 
<img src="/img/screenshot-2024-06-06-093914.png" alt="">
Source: <a href="https://techireland.org/en/techireland-publications-content">Tech Ireland — 2024 Funding Review</a>
The report also highlighted sectors poised for growth and innovation in 2023, particularly the technology and innovation sectors, driven by an unyielding demand for digital transformation and innovative technologies. Companies like Everseen, <a href="https://www.pymnts.com/news/investment-tracker/2023/everseen-raises-71-million-to-battle-retail-theft-with-ai/">involved in AI adoption</a>, and Weev, in the EV charging infrastructure space, with investments of €50M, respectively, exemplify the strategic focus on technology and ESG-driven investments that align with current market demands.
<img src="/img/screenshot-2024-06-06-094515.png" alt="">
Source: <a href="https://techireland.org/en/techireland-publications-content">Tech Ireland — 2024 Funding Review</a>
The momentum continued into early 2024 with notable acquisitions such as <a href="https://www.keensightcapital.com/keensight-capital-acquires-softco-a-global-leader-in-procure-to-pay-solutions/">SoftCo by Keensight Capital</a> (over €100M) and <a href="https://www.exponentpe.com/exponent-announces-investment-in-chanelle-pharma">the sale of Chanelle Pharmaceuticals</a> to private equity group Exponent (approximately €300M).
This trend highlights Ireland&#39;s attractive investment environment and a strong startup scene that continues to demonstrate adaptability. While some caution lingers due to global uncertainties, there are signs of continued investment, particularly in these sectors positioned for long-term growth and sustainability. 
“We are confident that there is significant scope to grow the Northern Ireland startup and tech ecosystem further. This could become a Cambrian moment for more quality start-ups to be founded and accelerated, new businesses in which local and off-island investors will be keen to invest. 
There is an ever-developing and interconnected startup ecosystem of stakeholders across the island that is enabling this transformation, and InterTradeIreland is a key connection point in that ecosystem.”
Says<a href="https://www.linkedin.com/in/drewosullivan/"> Drew O’Sullivan, </a>Lead Equity Advisor for<a href="https://techireland.org/en/techireland-publications-content"> Tech Ireland 2024 Funding Review</a>
<h1 id="irelands-major-startup-communities">Ireland’s major startup communities</h1>
Dublin, the capital, often known as &quot;The Silicon Docks,&quot; and many other major cities that are <a href="https://www.irishexaminer.com/business/companies/arid-41109766.htm">major attractions for tech giants</a>, has witnessed a surge of homegrown startups rubbing shoulders with many international players. 
The city&#39;s diverse talent pool, supported by organizations such as Trinity College, provides a fertile ground for creativity and technological advancement.
<img src="/img/screenshot-2024-06-06-094859.png" alt="">
Source: <a href="https://techireland.org/en/techireland-publications-content">Tech Ireland — 2024 Funding Review</a>
The result? Many successful startups across sectors like FinTech, SaaS, and Biotech have emerged from here, drawing global attention.
<h2 id="dublin-the-heartbeat-of-irish-startups">Dublin: The heartbeat of Irish startups</h2>
Dublin&#39;s startup ecosystem enjoys a standing for its inclusivity, diversity, and accessibility. The city is considered the heart of the Irish startup ecosystem and is ranked Ireland&#39;s best startup ecosystem and <a href="https://www.startupblink.com/startup-ecosystem/dublin-ie">10th in Western Europe.</a>
The local startup ecosystem is diverse, welcoming, and accessible. Both the city and the country recurrently secure favorable positions in numerous <a href="https://dublin.ie/invest/starting-a-business/startup-ecosystem/">annual startup ecosystem rankings</a>, underscoring their commendable reputation in the entrepreneurial arena. Dublin offers entrepreneurs all sorts of opportunities, including startup grants, support, and networking events organized by <a href="https://www.thedigitalhub.com/">The Digital Hub</a> and the <a href="https://www.dublinchamber.ie/">Dublin Chamber of Commerce.</a>
<h2 id="beyond-the-capital-expanding-innovation-across-ireland">Beyond the capital: expanding innovation across Ireland</h2>
However, the entrepreneurial spirit isn&#39;t confined to Dublin alone. Cities like <a href="https://startupuniversal.com/country/ireland/">Cork, Galway, and Limerick</a> have been nurturing their startup communities, buoyed by local universities, tech parks, and incubators. 
The collaborative spirit embedded in these cities and unique regional strengths have birthed innovations ranging from agri-tech solutions in rural areas to cutting-edge health tech in urban centers.
<h1 id="irelands-most-funded-sectors">Ireland’s most funded sectors</h1>
Nowadays, you’ll find a strong focus on various sectors in this startup ecosystem, such as <a href="https://seedblink.com/en/2023-06-07-carbon-market-trading-opportunities-at-the-intersection-of-cleantech-fintech">Energy/CleanTech</a>, <a href="https://seedblink.com/en/2023-10-19-revolutionizing-healthcare-in-europe-with-artificial-intelligence">HealthTech</a>, <a href="https://seedblink.com/en/2023-05-29-industry-overview-exploring-the-ever-evolving-fintech-startup-scene">FinTech</a>, <a href="https://seedblink.com/en/2023-08-03-the-pandemic-paradigm-shift-exploring-the-evolution-of-healthtech-and-medtech">Life Sciences</a>, and many others.
<img src="/img/screenshot-2024-06-06-095445.png" alt="">
Source: <a href="https://techireland.org/en/techireland-publications-content">Tech Ireland — 2024 Funding Review</a>
Energy and ClimateTech is the most funded sector in 2024. 
The industry&#39;s major trends are thanks to Europe’s higher focus on Energy and thanks to <a href="https://www.lkshields.ie/news-insights/publication/new-funding-measures-for-the-irish-energy-sector-announced-in-budget-2024">the Irish government </a>announcing the implementation of two new state funds by the Minister for Finance and publishing its first energy security strategy paper to enhance Ireland&#39;s energy security position. 
<img src="/img/screenshot-2024-06-06-095612.png" alt="">
Source:<a href="https://dealroom.co/reports/europe-tech-update-q1-2024"> Europe Tech Update – Q1 2024</a>
The Marine Institute has also contributed significantly, according to the <a href="https://www.seai.ie/publications/Energy-in-Ireland-2023.pdf">Sustainable Energy Authority of Ireland</a>, as they funded several renewable energy projects, awarding up to €200,000 each to seven different companies and research initiatives. 
You can explore future industry trends in this great video explainer from Mason Hayes &amp; Curran Lawyers.
<iframe width="560" height="315" src="https://www.youtube.com/embed/eBTKqzgvmqo?si=wa-ouwDZ58KMCKd0" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

The next sector that is gathering investors&#39; attention is health tech, where startups in Ireland have recently received significant funding, with many companies securing multi-million dollar investments. For example, <a href="https://siliconcanals.com/crowdfunding/altach-secures-1-2m/">Altach raised €1.2M</a> to enhance articular cartilage injury treatments, and the Irish venture capital firm <a href="https://siliconcanals.com/crowdfunding/life-sciences-vc-firm-closes-fund-iv-at-123m/">Seroba closed its Fund IV </a>at the beginning of this year to target new investments in life sciences and HealthTech.
The Fintech space in Ireland has also been gaining traction, largely due to its proximity to London, a global financial center. Many major financial institutions have established their presence in Ireland, leveraging the benefits of remaining an active trading member of the EU. 
<h2 id="spotlight-on-unicorns--future-unicorns">Spotlight on unicorns &amp; future unicorns</h2>
Stripe, established by the Irish brothers Patrick and John Collison, dominates the global payment processing sphere, reaching a valuation of approximately $68B while maintaining its roots through an office in Dublin despite being headquartered in San Francisco. 
Intercom is the next well-known company in Ireland&#39;s unicorn herd. It emerged in Dublin in 2011, transforming customer communication with its sophisticated messaging and engagement tools and achieving the unicorn milestone in 2018. 
Other noteworthy enterprises like Fenergo and TransferMate have demonstrated Ireland’s prowess in Fintech, reaching unicorn status in 2018 and 2023, respectively.
With an enchanting blend of homegrown and internationally-relocated unicorns like Udemy, AMCS, Trustpilot, and Workhuman, Ireland unfailingly provides a conducive environment for startups to flourish and transcend borders. 
Together, these unicorns illuminate the formidable strength and future potential of Ireland’s startup ecosystem, validating its standing as a hotbed for innovation and enterprise in various industrial landscapes, from finance to health, on a global stage.
<h2 id="irish-venture-capital-funds">Irish Venture Capital Funds.</h2>
<ul>
<li><a href="https://www.enterprise-ireland.com/en/">Enterprise Ireland</a> — The team partners with venture capital funds to finance small and medium-sized enterprises. Over €700m of Enterprise Ireland funding is under management in Seed and Venture Capital funds.</li>
<li><a href="https://actventure.capital/">Act Venture Capital</a> — A Dublin-based fund that targets Irish seed-stage startups. The firm&#39;s investment team usually puts between €500k and €5m into each company.</li>
<li><a href="https://www.deltapartners.com/">Delta Partners Ireland </a>— A venture capital firm that <a href="https://seedblink.com/">invests in technology startups</a>. The firm typically invests between €100k and €3m in seed and Series A rounds.</li>
<li><a href="https://www.elkstonepartners.com/">Elkstone Partners</a> — A venture capital firm that invests in technology startups. The firm typically invests between €500k and €5m in seed and Series A rounds.</li>
<li><a href="https://www.crunchbase.com/organization/tribal-vc">Tribal.vc</a> — A venture capital firm that invests in early-stage technology startups. The firm typically invests between €500k and €3m in seed and Series A rounds.</li>
<li><a href="https://www.abven.com/">Atlantic Bridge Capital</a> — A venture capital firm that invests in technology startups. The firm typically invests between €2m and €20m in each company.</li>
<li><a href="https://www.mediahuis.com/en/activities/mediahuis-ventures/">Mediahuis Ventures</a> — a corporate venture capital arm of Mediahuis that backs startups developing innovative solutions for students and the modern workforce.</li>
<li><a href="https://www.kernel-capital.com/">Kernel Capital</a> — Kernel Capital is a VC of the country’s oldest bank. The firm aims to be the first institutional investor and oftentimes tends to lead or co-invest with other prominent institutional players and high-net-worth individuals.</li>
<li><a href="https://surevalleyventures.com/">Sure Valley Venture</a>s — Sure Valley Ventures is an entrepreneur-led fund interested in software-focused startups across the British-Irish Isles.</li>
<li><a href="http://www.dbicventures.ie/">Furthr VC</a> — Founded in 1990, Furthr VC is the venture capital arm of Furthr based in Dublin, Ireland. The firm seeks to invest in early-stage companies operating in Ireland&#39;s B2B software products and medical devices sectors.</li>
<li><a href="https://www.nomadcap.vc/">Nomad Capital</a> — Nomad Capital is a seed-stage fund that invests in emerging companies building marketplaces and B2B software. </li>
<li><a href="https://venturewave.com/">Venture Wave Capital</a> — The VentureWave Capital team focuses on investing in businesses with high potential for impact. They support companies with a positive social impact that meets at least one of the UN&#39;s Sustainable Development Goals.</li>
<li><a href="https://www.tapestry.vc/">Tapestry Venture Capital</a> — Tapestry VC is a fund from the organizers of one of Europe’s largest startup conferences - Web Summit, first organized in 2009. </li>
</ul>
These are just a few of the most local active venture capital funds.
Additionally, Dublin has an excellent ecosystem of <a href="https://www.ideamotive.co/blog/guide-to-dublin-startup-scene">accelerators and incubators</a> that provide<a href="https://seedblink.com/startup?utm_source=SeedBlink&amp;utm_medium=Blog&amp;utm_campaign=ecosystem+overview&amp;utm_term=Ireland"> pre-seed funding</a>, mentorship, and support for pre-seed and seed-stage startups.
<ul>
<li><a href="https://www.ndrc.ie/">NDRC LaunchPad </a>— is Ireland&#39;s national startup accelerator program for globally ambitious entrepreneurs. It provides startups mentorship, investment, and support to help them scale up their businesses.</li>
<li><a href="http://www.dublinbic.ie/our-programmes/">Dublin BIC </a>— This firm runs different programs, some of which are accelerator programs, for entrepreneurs at the idea stage to scale-ups. The most famous programs are Dublin BIC Smart Start and Dublin BIC Innovate. Each program has terms, investment funding (if any), benefits, duration, and selection criteria.</li>
<li><a href="https://www.newfrontiers.ie/">New Frontiers</a> — One of Ireland’s top accelerators for startups. Since its inception in 2012, it has helped over 500 founders build and scale their businesses.</li>
</ul>
<h1 id="wrap-up">Wrap-up</h1>
Looking ahead, Ireland&#39;s ability to adapt to evolving market conditions and its commitment to fostering innovation, particularly in the technology and sustainability sectors, stands out right now. This, coupled with a growing pool of successful exits like Cubic Telecom and Immedis, creates a compelling narrative for future investors.
For more information and details about the European startup ecosystem, technology trends, insights into venture capital, and investment opportunities,<a href="https://seedblink.com/newsletter"> subscribe to our newsletter.</a>
Want to check out another interesting European market? 
Read our article on<a href="https://seedblink.com/en/2024-05-21-the-netherlands-everything-you-need-to-know-to-build-and-grow-a-tech-startup"> the Netherlands region</a>, which features the essential things you need to know to build and grow a tech startup.

Explore the Irish startup ecosystem, where innovative ideas are nurtured and fostered by constant support and a dynamic entrepreneurial spirit.

A greenhouse for innovation - Ireland's startup ecosystem

Red, white, rosé—who doesn&#39;t love wine? Europe boasts 45% of the world’s wine-growing regions, <a href="https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Vineyards_in_the_EU_-_statistics">covering </a>an impressive 3.2 million hectares. That&#39;s a tremendous amount of wine to savor, but have you considered it as an investment opportunity? 
For most people, investing means buying stocks, bonds, and funds. But you may also be able to turn a profit on a nice bottle of Cabernet or Sauvignon Blanc if you know how to pick them. Here’s everything you need to know to invest in wine, even if you don’t have a wine cellar—yet. 
The history of investing in wine 
Since the early 1970s, wine has emerged as a significant global commodity, experiencing remarkable fluctuations in value that reflect broader economic trends. Between the early 1970s and 1972, the price of wine surged by 400%, driven by increasing global wealth and a burgeoning appreciation for fine vintages. However, this dramatic ascent was abruptly followed by a sharp decline in 1974, mirroring the era&#39;s economic volatility.
Is investing in wine for everybody? 
You might believe that wine lovers and connoisseurs hold an advantage when it comes to investing in this divine elixir. Indeed, possessing knowledge and market insights can undoubtedly enhance any investment strategy. However, just as the pleasure of wine transcends backgrounds and experiences, so too does the opportunity for anyone to invest in wine. 
The valuation of wine is often influenced by renowned critics and the prestige of the brand. Yet, whether you are a seasoned aficionado or a curious newcomer, you can still access the intricacies of wine investment.
A portfolio of wines as an alternative investment 
Like any other alternative investment, buying wine can provide your portfolio with an excellent source of diversification. Stocks and bonds go through familiar cycles of boom and bust, but collectibles like fine wine deliver investment returns with little to no correlation to traditional assets—they may even be negatively correlated with the stock market. 
Wine offers a unique source of diversification because its value is based on factors that have little relation to the performance of the economy, interest rates, corporate earnings, or conventional investor sentiment. 
The value of wine responds to factors such as weather patterns, harvest yields, and vintage and consumer trends, all of which together intersect with supply and demand. Because these factors are unrelated to the overall stock market, wine investments can complement a traditional portfolio.
How to evaluate wine as an investment opportunity
A wide range of factors influence a wine’s potential to appreciate in value. Some are fundamental while others are more market-driven and related to supply and demand. 
No matter the vineyard or appellation, there are a number of factors that have a significant influence on the investment potential of every wine. Follow these simple steps to make sure you’re buying investment-grade wine: 
<ul>
<li>Pay attention to vintage - Vintage is the year in which grapes are harvested and wine is produced in a particular region. The quality of a harvest varies from year to year, with weather having the most significant impact on the grapes. A well-informed investor should be aware of the vintages that yield the best production of the wine under consideration. </li>
<li>Weigh the wine producer’s reputation - The reputation of a wine producer has a big impact on a wine’s potential for appreciation. Many of the most investable wines come from leading producers, for example, Domaine de la Romanée-Conti (DRC), Pétrus, Château Mouton Rothschild, and Château Lafite Rothschild, as well as from regions such as Burgundy and Bordeaux. </li>
<li>Understand a wine’s aging potential &amp; longevity - Aging potential is critical for fine wine because some wines age better than others. Factors that can influence the potential to age well include the type of grape and the level of acid and tannins. You can also look at a producer’s track record of creating wines that age well. </li>
<li>Longevity varies among wines. Investment-grade wines tend to mature around 10 years after bottling, but some wines can age for extended periods, appreciating in value and quality all the while. Others will only be drinkable for a shorter period after fully mature. </li>
<li>Examine scarcity and price history - Wine scarcity drives up the value of the vintages you invest in. Take Domaine de la Romanée-Conti, for example. This vineyard is known for some of the world’s most sought-after Burgundy, yet because of its small size produces only around 450 cases annually. However, when producers are ranked by the value of aggregate sales, DRC tops the list. Meanwhile, a wine’s price history demonstrates the trend in value, with investable wines showing a steady progression upward. </li>
<li>Wine Critics - The recommendations of wine critics are taken very seriously, and critic ratings can have a strong impact on a wine’s potential to be appreciated. Robert Parker, James Suckling, and Jancis Robinson are among the most influential wine critics, so be sure to assess their published opinions on wines you’re considering. </li>
</ul>
How can you invest in Wine – introducing WineFortune 
As an investment platform specializing in wine, <a href="https://winefortune.com/">WineFortune </a>seamlessly blends the expertise of its in-house specialists with comprehensive data from Liv-ex, the renowned B2B marketplace for the wine trade. Utilizing an advanced algorithm, WineFortune analyzes two decades of data to identify wines with the highest growth potential, offering investors valuable insights. 
WineFortune makes wine investment straightforward and accessible, eliminating the need for substantial capital. With an entry point as low as 1 euro and no hidden fees, anyone can embark on their wine investment journey. Managing your portfolio is effortless with investment subscriptions, and the secondary market provides opportunities to trade wines acquired directly from producers and contracted partners. 
Moreover, WineFortune offers a unique twist: the ability to enjoy the wines you invest in. As your tastes evolve and your understanding of the industry deepens, you are not confined to your initial selections but can explore new additions to your portfolio. 
As a B2B2C enterprise, WineFortune leverages an AI-driven SaaS platform to connect wineries, investors, and wholesalers, revolutionizing the wine industry. The wine market is valued at $340.23 billion in 2021 and is projected to rise to $456.76 billion by 2028, at a CAGR of 4.30% (Source: <a href="https://winefortune.com/fundraising">Fine Wine Investment Platform - WineFortune </a>). 
Building on their success in their home market of Estonia, where clients have invested over €1,000,000, WineFortune is now raising a seed investment of €150,000 to fuel their angel investment initiatives. This funding will support their mission to expand their reach and solidify their position in the European market. 
Join WineFortune in changing the wine industry, where technology meets tradition, and investment meets enjoyment.<a href="https://investors.seedblink.com/invest/winefortune/222"> Explore WineFortune’s seed round on SeedBlink</a>.

In vino veritas

Investing in wine – an asset class for everyone

Here’s a snapshot of the achievements of the startups we&#39;ve proudly backed (in alphabetical order): 
Check out Bogdan Nicoară, founder of Bright Spaces, in the debut episode of &quot;<a href="https://lnkd.in/eNft7iG7">Sweat, Tears, and Equity</a>&quot; by Fortech Investments, where he chats about his entrepreneurial journey. Bogdan shares the challenges of inspiring his team with a big vision while balancing realistic investor expectations, a struggle he faced early on. From his high school entrepreneurial experiments to founding multiple projects, his story is full of lessons on resilience and adaptability. 
Contents has joined NVIDIA Inception, a program dedicated to nurturing companies revolutionizing industries with cutting-edge technology. Besides this, the Generative AI company has presented their solution at The European House-Ambrosetti the premier international platform for economic dialogue and innovation. These days, Contents is attending #Shoptalk Europe 2024 - Visit them at Stand hashtag#H14 in Hall 2 – Barcelona to discover our latest advancements and explore collaboration opportunities. 
Dronamics was one of the few European companies invited to exhibit and present at Sushi Tech, the largest technology event in Tokyo. <a href="https://www.suasnews.com/2024/05/dronamics-at-sushi-tech-tokyo/">More info here.</a> To set the context, Tokyo is aiming to be a major startup hub. To achieve this, they&#39;ve launched several initiatives including the SusHi Tech Tokyo program which connects foreign startups to Japan&#39;s business world. This program offers a pitch contest with a 10 million yen prize and other opportunities for promising startups. 
Frontwave Imaging recently announced a leadership change. After a successful tenure as CEO, Susana Castel has transitioned from the role. We are pleased to welcome Cristina Duran Martinez as our new CEO. Cristina brings a wealth of experience, strategic vision, and a deep commitment to Frontwave Imaging&#39;s mission. Having previously served as COO, she is well-positioned to lead the company forward.
Siena AI x Stripe integration is live! Siena is now capable of autonomously performing actions and retrieving information directly from Stripe accounts, unlocking powerful new use-cases. 
To find out more, check out this <a href="https://lnkd.in/e8qW5kre">blog post. </a>
Swisspod, the largest hyperloop hub project in the world has reached a milestone in Pueblo: completed first 100 meters of infrastructure. When complete, the test track will be the largest vacuum chamber in the country and the largest operational hyperloop hub in the world. Take a look at the <a href="https://www.youtube.com/watch?v=1bgkpK9lM3g">news here. </a>
Synaptiq’s medical team attended the prestigious National Scientific Forum of Young Oncologists in Romania. Remus-Cosmin Stoica shared his expertise on a cutting-edge topic with his presentation titled &quot;Radiotherapy in the AI Era - Looking at the Data.&quot; Besides this, Synaptiq was selected to attend Iceland Innovation Week, an initiative supported by the EEA and Norway Grants Business Programme in Romania. 
 &quot;Freedom of mind and using everyone&#39;s full potential accelerates humankind&#39;s evolution, at all levels.&quot;
This is what the founder of Vestinda, Alin Breaban, shared recently in the <a href="https://youtu.be/b9odmAyGiZc?feature=shared">Arena Finantelor podcast</a> with Mihai Prelipcean. A math guy turned journalist, entrepreneur, and crypto enthusiast. 
Willicroft released its 2024 Emissions Report, revealing the environmental impact of the company&#39;s products. The first product examined is the Italian Aged, a dairy alternative. 
For example, the Italian Aged - compared to real Parmesan cheese - has a significantly lower carbon footprint, with cashews being the ingredient with the highest emissions. For a full breakdown, you can check out the <a href="https://willicroft.com/emissions-report">report here.</a>
We strongly support building trust and transparency by engaging funded start-ups in discussions around their updates and communicating their business decisions to their investors and our community of tech supporters. 
To support any of our Portfolio companies with your network, knowledge, or mentorship, please contact us at <a href="mailto:&#105;&#110;&#118;&#101;&#x73;&#116;&#111;&#114;&#115;&#x40;&#115;&#101;&#x65;&#x64;&#98;&#108;&#105;&#110;&#x6b;&#x2e;&#99;&#x6f;&#109;">&#105;&#110;&#118;&#101;&#x73;&#116;&#111;&#114;&#115;&#x40;&#115;&#101;&#x65;&#x64;&#98;&#108;&#105;&#110;&#x6b;&#x2e;&#99;&#x6f;&#109;</a>.

May is a critical month for startups, marking the heart of Q2. This period is often characterized by heightened activity as startups strive to achieve key performance indicators established for the year.

Investor Insight: May 2024 Portfolio success stories

Explore the pros & cons of solo founders vs. multiple founders, key factors to consider, and how your choice impacts raising capital for your startup.

The Founder Factor on Startup Success: Solo vs. Co-Founders

Risto Kaljurand is the Co-Founder and CEO of WineFortune, a FinTech startup. With a strong background in project management, sales, and B2B marketing, followed by a degree in economics from Tallinn University of Technology, Risto brings a blend of different business skills to the table.
Founded with the mission to democratize wine investing, WineFortune offers solutions like a machine-learning passive-fee investment fund and a subscription service for wine list shares. These products enable investors to easily invest in high-demand wines and provide wholesalers with a centralized platform to access a wide range of fine wines from well-aged vintages. 
1. What ‘aha’ moment led to the founding of WineFortune? 
My co-founder Paavo and I attended a wine-tasting event where we discovered that the other participants were not only interested in enjoying the wines but were also exploring investment options. 
As we looked deeper into the topic, we learned that proper storage is crucial for wine investing. From there, our idea evolved from just storage solutions to comprehensive investment solutions. Today, we have a full platform offering multiple wine investment opportunities, catering to investors with various focuses, regardless of their level of expertise or financial status. 
2. What was your drive back then, and what change did you aim to make? 
Years ago, I began exploring physical assets to add to my personal investment portfolio. When I discovered wine investment opportunities, the entry barriers were too high—minimum investments starting at €10,000. Therefore, it became WineFortune’s mission to lower the minimum investment requirement and make this asset class accessible to all investors, regardless of the size of their portfolios.
3. How does WineFortune&#39;s platform contribute to the wine investment market, and what specific market gap does it address? 
Classical investors often don&#39;t understand the wine market, so we have made it convenient for them to enter this asset class with our actively managed fine wine investment fund. 
Fine wine enthusiasts seek access to world-class fine wines, and we have made it possible for them to tap into the largest fine wine database in the world—Liv-ex—which is otherwise only accessible to businesses. Through our wine list subscription service, we have preselected wines that are in their perfect drinking window for them to choose from. 
Looking at the fine wine market in a broader sense, it lacks advancement in terms of data and technological innovation. We are on a mission to change that by incorporating data-based decision-making and machine learning into our products. Fraud is a significant issue in the luxury market, and wine is no exception. We aim to reduce fraud and ensure that wine lovers can enjoy the actual wine they have paid for. 
4. How do you scale your business model? 
By leveraging technology and strategic partnerships we can enhance wine investment outcomes and user experience. This will grow fine wines as a potential asset class to invest in for the classical investors. This will also provide a convenient option for fine wine enthusiasts to access wines in the perfect drinking window when they are ready to enjoy it. 
On the other hand, we are continuously expanding our network of wine producers and wholesalers to have the best selection of wines available. This is a huge obstacle in the fine wine industry - you need lots of connections and partners, but even still it is hard to get access to well-aged wines. But these wines are most demanded by wine lovers. 
When it comes to our specific growth strategy, we plan to do it through strategic partnerships with financial sector banks and companies. Also, with affiliates to attract and retain a broader retail investor base.
5. How does WineFortune guide and empower investors to make informed decisions about their wine investments? 
We have simplified the decision-making process for our investors by offering two main options for wine investing: 
<ul>
<li>For those interested in wines purely for capital gain and dividends, the fund is the ideal choice. </li>
<li>For those who would like the option to enjoy the wines they have invested in, the wine list subscription is perfect. </li>
</ul>
With the fund, investors have a straightforward path, while the wine list subscription offers flexibility with various options to match personal preferences. This approach bridges the knowledge gap between the intricacies of the fine wine market and translates them into easy-to-understand investment choices. 
The decision-making process is further supported by detailed data on our platform and a regular newsletter to keep customers updated on historical performance, market trends, and expert reviews. Additionally, we host monthly or bi-monthly online and offline events to educate customers about several aspects of fine wine and wine investment. We also provide comprehensive customer support to address any questions our clients may have. 
6. What are potential exit scenarios for investors supporting WineFortune? 
<ul>
<li>Scenario 1: Vivino will acquire WineFortune. Their goal is to build a platform where users don’t make just a picture of wines but can always order the most favorable wines to their doorstep too. Their biggest obstacle is that wholesalers don’t have wines older than 10 years, while these wines are just exactly in their perfect drinking window. Our platform would solve this problem for them by becoming a key component in their value chain. </li>
<li>Scenario 2: Getting WineFortune publicly listed on the AIM (Alternative Investment Market) in the London Stock Exchange, and subsequently on the SSE (Shanghai Stock Exchange). This would make us publicly available on two continents where demand for fine wines is the greatest. </li>
</ul>
7. How do you envision WineFortune&#39;s future growth within the wine investment sector? 
WineFortune’s primary goal is to become the world&#39;s leading fine wine platform for both investors and wholesalers. This would enable us to control the entire value chain from producers to investors to wholesalers who can later sell to the end customer. 
How would it work? We would establish direct connections with wine producers to secure the best deals on the market. Investors would use our platform to allocate their investment capital, which we would then manage and grow most profitably. When it is time to sell the wines, we can easily sell them to interested consumers through wholesalers. 
Our business model includes generating revenue through transaction, management, and success fees. The management process would be fully automated through AI, which would handle technical market analysis, purchasing the right wines at the optimal times, and selling them to the right parties at the most profitable moments. The physical planning of wine storage would be in Belgium and London through Liv-ex, which has a global network of storage facilities. 
8. Do you have a mentor or figure within the investment or wine industries whom you admire and draw inspiration from? 
As a business, I admire the LVMH group for how they are building a holistic value chain within the fine wine industry. Their investment and business portfolio includes wine producers, cork manufacturers, glass and packaging factories, transport companies, as well as media publications and exclusive distributors. This aligns well with WineFortune’s goals. 
As a person in the industry, I deeply respect Heini Zachariassen, the founder of Vivino, with whom I have had very insightful conversations about the future of the fine wine industry. We have discussed how our business futures can be mutually beneficial and provide a potential exit strategy for us. 
9. Why should investors consider being part of WineFortune&#39;s journey?
The global fine wine market is expected to grow from $340.23 billion in 2021 to $456.76 billion in 2028. This is a market where demand always exceeds supply. WineFortune aims to make investing in fine wine as simple and accessible as crowdfunding has made real estate investing. Additionally, it offers distributors the opportunity to access a curated list of aged vintages of the world&#39;s best wines, which are highly sought after by customers, without needing to store them for years in their limited warehouse spaces. 
As an investor, you can become a shareholder in a company with the potential to grow into a billion-euro enterprise within the next five years.
<a href="https://investors.seedblink.com/invest/winefortune/222">Explore the opportunity on SeedBlink.</a>

Risto Kaljurand shares the inspiration behind WineFortune, how the platform makes wine investment accessible to everyone, and the strategies for scaling the business. 

Investing in the future of fine wines

<h2 id="a-lot-of-interesting-news-to-talk-about-scroll-down-for">A lot of interesting news to talk about. Scroll down for:</h2>
<ul>
<li>Primary Market: active opportunities</li>
<li>Secondary market updates</li>
<li>Investors resources picks</li>
</ul>
<h2 id="have-you-heard-the-news">Have you heard the news?</h2>
SeedBlink is set to transform tech equity ownership in Europe with an all-in-one equity management and investment platform, bringing together Equity, Ventures, Syndicates, and Secondaries on a single platform. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dcdfa685ace%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C74602b2c47e943d6907708dc839acd70%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638529948120082525%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=PLE13A%2Ftu1iHJcHckFc6gaQHEgX8FjE6BX7S3ZZAlcY%3D&amp;reserved=0">Discover the new SeedBlink.</a>
<a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D48de8a8f00%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C74602b2c47e943d6907708dc839acd70%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638529948120110174%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=hXPlY%2FdX37XHgdIMuPrG3p99RMvY%2F7%2BUhweWMbbMGIc%3D&amp;reserved=0">Register here</a> if you have questions, we&#39;re hosting an Ask me Anything session tomorrow. 
<h2 id="active-opportunities">Active opportunities</h2>
🇵🇱 VC-Backed | Healthtech | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D00ad23df93%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C74602b2c47e943d6907708dc839acd70%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638529948120130607%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=BoxhHrfwIjEcGgllQvwTVj1iz23e09uWvAQgGI4M1t8%3D&amp;reserved=0">Mindgram </a>is raising €1,75M to support mental health &amp; well-being in the workplace. Backed by Credo, Portfolion &amp; others.
🇵🇱 VC-Backed | Fleming | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D54de7f7f3b%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C74602b2c47e943d6907708dc839acd70%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638529948120150421%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=Np68DPLabvEKcH%2BjZ2AjZB8p3kMmK4OSiNseqwfnucQ%3D&amp;reserved=0">Fleming </a>is raising €700,000 to provide smart financial &amp; banking solutions for healthcare professionals. 
Explore all the active <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dedb218dacb%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C74602b2c47e943d6907708dc839acd70%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638529948120170696%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=PGW1bEq1JrQBwEPaqMO9y%2FS%2BjdmmRMHoNw2nRvtCgEI%3D&amp;reserved=0">opportunities here. </a>
<h2 id="liquidity-on-your-terms">Liquidity on your terms</h2>
Rare, mature, or discounted investments are available on the secondary market. Rearrange, reconfigure, and reload your portfolio. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D8a2936c367%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C74602b2c47e943d6907708dc839acd70%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638529948120190684%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=RHDJwmeh4n5Mo%2FMNo71yOg5KxC0d1EHkerK2HwepEgY%3D&amp;reserved=0">Check the Bulletin Board.</a>
<h2 id="investors-resources-pick">Investors resources pick</h2>
Tech Investors Academy | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dd43096f929%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C74602b2c47e943d6907708dc839acd70%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638529948120208823%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=%2F9BLXmWPjR7gW7iy9Ld9LiN780Lu4WeUXUn1dd43Mag%3D&amp;reserved=0">Learn more</a>
Registration ends tomorrow! Delivered over four weeks by experts from venture capital and academia, TIA blends theory, case studies, and live sessions on advanced investment strategies. 
What VCs can teach us | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D8f8f75bb5a%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C74602b2c47e943d6907708dc839acd70%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638529948120244010%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=G%2FCeotDAb0B8tGEAYvqNLLxRowjGKoxOKDIWtHCWoxA%3D&amp;reserved=0">Tune in</a>
VC’s operationalize risk, embrace disagreement over consensus, and stay agile in their decision-making—all valuable lessons that apply outside Silicon Valley. 
60 Minutes&#39; tech innovations | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D32b950a00f%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C74602b2c47e943d6907708dc839acd70%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638529948120261676%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=DvfLi%2BbgiuS%2F3fvPJjmwOAJKSrgzFz6GUCoiG1xJXBw%3D&amp;reserved=0">Watch now</a>
This 60 Minutes episode covers quantum computing, AI, nuclear fusion, renewable energy, and groundbreaking interviews with industry leaders.
Banking for doctors | Read more
Have you ever considered the challenges faced by medical professionals? There&#39;s a Fintech offering improved access to financial resources for those backing our healthcare.

Have you ever considered the challenges faced by medical professionals? With limited job opportunities in the public system, many graduates aim to open their own practices. However, they encounter real-world hurdles. Banks are often reluctant to lend them money, especially given the high costs of -tech equipment—around €500,000 for dental practice in Europe (Local SEO Healthcare Tips) (<a href="https://pdq-funding.co.uk/dental-practice-funding/">PDQ Funding</a>). 
But that&#39;s just the beginning. 
The healthcare market is evolving rapidly, driven by increasing demand for digitalization in both the USA and Europe. Yet, healthcare professionals often find themselves navigating an outdated and time-consuming financial landscape. They face financial solutions plagued by lengthy processes, causing significant inconvenience and inefficiency. These outdated banking services come with high costs due to limited track records and a lack of specialized market knowledge. Despite having a low default rate, healthcare professionals are subjected to disproportionately high interest rates because they are grouped with higher-risk categories. 
Let&#39;s examine some of the key challenges: 
<ul>
<li>High initial costs - For example, opening a dental practice can cost between €200,000 and €500,000, covering expenses such as equipment, staff, and premises (The Peloton - Chartered Accountants) (Freemont Building Ltd). Another pressing problem for healthcare workers is the rising costs of medical products with short life expectancies, which add to the difficulties of establishing private practices. These challenges, combined with time-consuming financial processes, delay healthcare workers from finding optimal financial solutions. </li>
<li>Complex financing - medical professionals often struggle to secure loans due to high initial costs and lack of specialized banking services. </li>
<li>This creates a barrier to entry for new professionals and limits the ability of existing practitioners to invest in innovative technologies or expand services, ultimately impacting patient access to quality care. </li>
<li>Outdated processes - Traditional banking systems and financial services are not optimized for the specific needs of healthcare providers, leading to inefficiencies and higher costs. </li>
<li>Moderate Financial literacy - Across Europe, over half the population has a moderate grasp of personal finance, particularly regarding expenses, investments, and risks. This knowledge gap impacts medical practitioners seeking private practice funding, who often depend on bank solutions. Additionally, their unstable salaries increase financial risk, making them less attractive loan candidates. </li>
</ul>
<h2 id="fleming---smart-financial-banking-solution-for-healthcare">Fleming - Smart financial banking solution for healthcare</h2>
To support medical practitioners in opening private practices or obtaining funds for equipment, Fleming – a German Fintech startup - has developed a specialized banking solution tailored to their needs, which addresses critical issues such as the lack of financial knowledge, analog financial processes, and outdated banking services. 
Fleming&#39;s solution streamlines the entire financing process by fully digitalizing it, significantly reducing waiting times. It consolidates all necessary information into a single, centralized platform, providing a structured and user-friendly solution that enhances efficiency and clarity. 
<h2 id="fintech-investment-opportunity-in-healthcare">FinTech investment opportunity in healthcare</h2>
The expanding healthcare market presents significant fintech opportunities, particularly for medical professionals. In Germany alone, over 850,000 potential customers seek viable solutions for private practices. Fleming addresses this need with an end-to-end automated loan platform, using machine learning to assess credit and risk. It is the only program in Germany that conducts credit checks for promotional loans, allowing Fleming to offer the best market conditions tailored to healthcare professionals. 
Fleming isn&#39;t the first neobank to understand the problems but also the opportunities of this market: in the USA, <a href="https://panaceafinancial.com/">Pancea Financial</a> created a banking system for doctors and their unique financial needs. It is only natural for Europe to find its own solution, personalized for practitioners and adapted to its laws and rules. 
The process is straightforward: a doctor seeking a loan submits a query to Fleming and receives a response with a credit check and interest rate within 48 hours. A few days later, the necessary funding is provided. Fleming itself does not offer loans but partners with institutions such as Deutsche Bank, ING-DiBa, and Mediserv. 
Dr. Andreas Spengel, Senior VP Fintech, Platfroms &amp; New Verticals at Mastercard, supports their solution: &quot;We are firmly convinced that Fleming&#39;s business model and its vision of a simple, exclusive end-to-end solution comprising financing, banking and payment for healthcare professionals is exactly the right one!&#39;
Fleming&#39;s team comprises experts in banking, digital processes, lending, payment, asset securitization, and scaling B2B operations. Their combined expertise addresses a critical issue in the healthcare market, offering a viable financial and banking solution. 
Fleming&#39;s innovative approach and specialized services provide a promising investment opportunity within the expanding healthcare fintech sector. They are currently targeting €700.000 for the seed round and are backed up by lead investors bmp Ventures to scale their business in the DACH region, wishing to expand later into Europe. <a href="https://investors.seedblink.com/invest/fleming/251">Explore Fleming’s round live now on SeedBlink. </a>

Improved access to financial resources for those backing our healthcare 

Healthcare professionals now benefit from a dedicated banking solution 

We are thrilled to share some exciting news with you! At SeedBlink, we’re taking a big step forward with today’s launch of our all-in-one equity management and investment platform. 
Since our market entry in 2020, we’ve collaborated with thousands of European startups, scaleups, stakeholders, and investors. One thing they all have in common is the need for a single source of truth for all things equity and, more importantly, the desire to make equity ownership and fundraising strategic and painless at every stage of growth. 
Key elements to consider include technology infrastructure, services, knowledge, guidance, and the network. 
We had the main ingredients: four years of successful community and VC-backed investments, the expertise of Nimity, SeedBlink’s one-year-old equity management arm, and a deep understanding of European market dynamics and regulations. 
That’s why I’m so excited about this release. Here are the four key services at the heart of our all-in-one platform:
<h2 id="seedblink-equity">SeedBlink Equity</h2>
Drive growth with informed equity choices 
This module includes cap table management, locally relevant employee stock option plans, simulations, stakeholder governance, and portfolio management, among other services. It helps companies and their stakeholders manage equity efficiently and transparently, making educated, strategic equity decisions. 
Formerly known as Nimity by SeedBlink, this module is now fully integrated under the SeedBlink umbrella. Check out the rebranded <a href="https://demo-equity.seedblink.com/">demo environment here.</a>
<img src="/img/image-19-.png" alt="" title="Sneak Peek at SeedBlink Equity">
<h2 id="seedblink-ventures">SeedBlink Ventures</h2>
Tailored financing solutions for tech companies 
Designed to accelerate the fundraising journey for top-tier tech startups, this service provides professional guidance, tools, investment vehicles, and introductions to a <a href="https://tech.seedblink.com/vc-network">network of institutional investors </a>and high-net-worth individuals. 
For example, we&#39;re offering co-investments through SeedBlink&#39;s premium network of investors, with investment solutions ranging from €25k to €5M. Other options include rounds supported by your community through crowdfunding campaigns. Sessions recently chose this option, mobilizing their global community beautifully for an oversubscribed round. 
<blockquote>
&quot;At Sessions, we prioritize efficiency, productivity, and innovation. Our funding and equity strategy couldn’t be any different. We&#39;re thrilled to partner with SeedBlink, which gave us access to diverse funding options and enabled us to provide equity to investors, our top talent, and our user community. We’re essentially taking equity participation and fundraising to the next level. SeedBlink’s all-in-one platform is a big plus, kudos to them for bringing it to the market.” — Radu Negulescu, CEO and Founder of Sessions. 
</blockquote>
If you’re unsure where to start your fundraising journey or how to find the right lead investor, SeedBlink is a good place to begin. From pitch reviews to warm investor introductions, explore <a href="https://tech.seedblink.com/pricing-companies">our add-on services. </a>
As an investor, we offer opportunities to diversify your portfolio with access to private VC-backed companies fundraising in Europe, from pre-seed to Series B+, extending to community discoveries and a bulletin board with portfolio companies where you can buy shares from other investors. 
<h2 id="seedblink-syndicates">SeedBlink Syndicates</h2>
Pool investors under a single line in your cap table and streamline the fundraising journey 
This new service allows angel investors and founders to pool and deploy capital within their own networks, fostering collaborative investment opportunities. You can aggregate smaller tickets, share deals with your network, and let them co-invest on a deal-by-deal basis, efficiently and cost-effectively. 
From deal creation and sharing, pooled investment structures, investor communication, and portfolio management to automated workflows, all in one place – we help you save time and money by eliminating intermediaries, regulatory complexity, and low-tech administration. 
<blockquote>
&quot;We found a strong partner in SeedBlink, who provided the syndicate investment vehicle and infrastructure to make this happen efficiently. We were able to aggregate our preferred angel investors and close the round quickly. We applaud the availability of the nominee vehicle among other investment options to meet the needs of startup funding at every stage of growth.&quot; — Mihai Gavan, CEO and Co-Founder of FoodFix 
</blockquote>
<h2 id="seedblink-secondaries">SeedBlink Secondaries</h2>
Strategic liquidity for shareholders 
We announce another exciting new module that facilitates equity trading, offers early liquidity for vested shares, and supports portfolio diversification strategies. This allows companies to run end-to-end secondary market transactions for their early investors and employees. 
Incentivizing employees with ESOP is a great way to increase engagement, but in some cases, it’s beneficial to unlock early liquidity and create opportunities for new investors through secondaries. Our <a href="https://seedblink.com/en/press-room/2024-02-21-seedblink-and-accumeo-partner-to-streamline-equity-growth-and-boost-european-tech-startups-financing-in-primary-and-secondary-markets">partnership with Accumeo</a> plays a key role in bringing this service to market. 
Doubling down on processes and automation 
You may not be as interested in the &quot;behind the scenes&quot; details, but digitizing, automating, and centralizing operations in the equity management and fundraising industry is essential. 
When you are just starting out, additional manual work is the last thing you want on your plate. As you scale and complexity increases, automation becomes critical. As a core part of the modules described above, we have focused on improving these aspects with our all-in-one modular platform. 
These &quot;routine&quot; processes are essential for effective stakeholder governance and streamline investment and equity management for all stakeholders: companies, investors, employees, and collaborators. 
We are committed to supporting technology companies throughout their growth journey, with equity management functionalities, diverse investment vehicles, and a robust roadmap. Stay tuned for more updates and details! 
In the meantime, if you’re looking to get ready for funding rounds, access the right investors, or seamlessly manage equity, <a href="https://seedblink.com/welcome-to-seedblink">get started free with SeedBlink today. </a>

With the new SeedBlink release, European companies seamlessly access, manage, and trade equity

SeedBlink launches all-in-one equity management and investment platform

<h1 id="what-determines-a-healthy-mental-state">What Determines a Healthy Mental State?</h1>
Mental health is influenced by various individual attributes such as thoughts, emotions, and behaviors. However, these are often shaped by external social, cultural, political, and economic factors, leading to emotional crises that frequently go unnoticed. WHO estimates that 76% to 85% of people with severe mental disorders do not receive the necessary treatment, remaining unheard of by society. Recognizing the critical importance of mental health,<a href="https://iris.who.int/bitstream/handle/10665/345301/9789240031029-eng.pdf?sequence=1"> WHO has launched a comprehensive mental health action plan that will extend to 2030</a>. This plan aims to enhance information systems, implement preventive strategies, and bolster mental health research globally, with tailored approaches for different regions. 
<h1 id="the-impact-of-poor-mental-well-being-on-companies">The Impact of Poor Mental Well-being on Companies</h1>
Burnout has emerged as one of the most pressing workplace mental health issues. Intensified by the pandemic, burnout leads to numerous mental and physical problems, adversely affecting businesses with unpredictable costs and serious repercussions. The rise of technology and constant connectivity has blurred the boundaries between personal and work life, making it difficult for employees to disconnect and recharge.
<h1 id="workplace-and-mental-well-being">Workplace and Mental Well-being</h1>
Burnout reduces productivity, impacting not only individuals but entire teams. <a href="https://medium.com/@benjamin_goss/the-silent-epidemic-employee-burnout-in-2023-2b40627100bf">A single burnt-out employee can cause a 15% drop in productivity.</a> Burnout also leads to higher turnover rates, increasing recruitment costs. Beyond burnout, various personal issues such as financial stress, parenthood, and relationship problems can negatively impact mental health, making it crucial for workplaces to recognize and address these challenges. 
<h1 id="mental-care-apps">Mental Care Apps</h1>
The tech industry has developed numerous mental health apps in response to WHO&#39;s call to alleviate the global mental health burden. These apps cater to various needs, from dealing with depression to managing stress and fostering healthy social relationships. Some offer therapy through online sessions or text, while others provide coping mechanisms through games or activities designed to reduce stress and improve focus. There are also apps targeting addiction, sleep issues, and overall well-being through meditation. While many meditation and sleep apps are free, therapy apps can be costly, raising accessibility concerns. 
<h1 id="do-people-pay-for-their-mental-health">Do People Pay for Their Mental Health?</h1>
The willingness to invest in mental health varies. Therapy is becoming more accepted, even in developing countries, and the stigma surrounding mental health is diminishing. However, therapy costs have risen, and a lack of education on mental health issues can deter people from investing in their well-being. Apps offer a more approachable option, but full access to their benefits can also be expensive. 
<h1 id="can-companies-help">Can Companies Help?</h1>
Absolutely. Companies not only can help but are increasingly required to support their employees&#39; mental health as part of Environmental, Social, and Governance (ESG) mandates. Enter <a href="https://investors.seedblink.com/invest/mindgram/250">Mindgram</a>, a mental health app designed specifically for companies to offer their employees support with both work-related and personal challenges. Companies like Volvo, Orange, and Pfizer already use Mindgram. 
<h1 id="what-sets-mindgram-apart">What Sets Mindgram Apart?</h1>
Mindgram is tailored for companies to maintain their employees&#39; well-being through a holistic approach to mental health. Unlike other well-being apps, Mindgram provides a wide range of services, including online therapy, text support, psycho-dietitians, child and adolescent psychologists, and business mentors to address financial and work-related goals. Employers can subscribe to the platform, giving their employees access to these comprehensive resources, enhancing both mental and physical health. 
<h1 id="investment-opportunity">Investment Opportunity</h1>
Mindgram, already boasting 140 clients including DB Schenker, Bolt, and ING, is a startup focused on holistic well-being. Currently available in English, Spanish, and Polish, Mindgram aims to support 37 languages by the end of the year. With a customer retention rate of 94% and platform engagement twice the industry average, Mindgram has successfully completed pre-seed and seed funding rounds and is now moving to Series A. The goal is to become the leading B2B well-being platform in Europe and select Latin American markets. 
Explore this investment opportunity <a href="https://investors.seedblink.com/invest/mindgram/250">here</a>.

The World Health Organization (WHO) defines health as a state of complete physical, mental, and social well-being, not merely the absence of disease. Mental health, therefore, is an essential component of overall health. 

A broader view on mental health and its growing visibility 

Today, we are excited to bring you a new discussion on all things equity. 
We are returning to a known investor from our community, Galina Markova, a corporate banker turned angel investor who is focused on investing in HighTech and DeepTech-led sustainability.
Just a few months ago, we had the privilege of <a href="https://seedblink.com/2023-08-21-investing-with-purpose-galina-markovas-approach-to-angel-investing">meeting with Galina</a> to discuss impact investing, portfolio diversification, and investment strategies. Since then, the innovation wave in Southeastern Europe tech and the explicit shift in entrepreneurs’ behavior towards creating net positive outcomes led her to widen her investment universe. In her world, HighTech and DeepTech-led sustainability are the new paradigm. 
Indeed, the data from her portfolio indicates that c.15% of the startups in Romania, Bulgaria, or Greece have a clear sustainability component, demonstrating that founders actively combine their business strategy with achieving positive stakeholder outcomes. Many of these have been set up in the last five years, evidencing an upward trend.
Today, we delve deeper into the unique perspective of equity ownership for an angel investor like Galina, who is not just an investor but a deep supporter of sustainability investing.
<h1 id="from-banking-to-angel-investing">From banking to angel investing</h1>
Angel investing became a natural extension of Galina’s experience and bridged the gap between angel investing as a form of diversification and her drive to be part of something meaningful. This allowed her to leverage her financial expertise and support ventures to realize their potential.
Galina mentions how passion played a role in her career and why this was one of the major elements that caught her attention and interest within the startup world. She loves working with founders who build products with passion and vision.
Galina’s journey into this space began when working with private equity, where she realized that smart investing merges financial return with societal and environmental good.
While acknowledging the importance of founders deliberately aiming to create positive change (intentionality), Galina notes that many businesses can achieve a positive impact simply by proactively considering stakeholders and their needs. 
Beyond the definition itself, Galina emphasizes two key aspects of impactful businesses:
<ul>
<li>Intentionality </li>
<li>Additionality </li>
</ul>
Intentionality refers to the founders&#39; conscious goal of generating positive outcomes through their product or service. 
Additionality ensures that the impact created wouldn&#39;t have existed without this particular business. It fills a unique gap and brings about a positive change that wouldn&#39;t have happened otherwise. In many cases, this is effectively the same as identifying a gap in the market and building a product to fill that gap.
Galina expands the concept of sustainability investing beyond its typical association with environmental causes. She emphasizes that a sustainable business model, considering both the company&#39;s longevity and the long-term viability of its offerings, is inherently impactful. 
To illustrate, she provides two examples: a FinTech app that facilitates financial inclusion for immigrants by digitizing traditional saving circles widely used in Latin America and an application that connects users with discounted, high-quality food nearing its expiry date, thereby tackling food waste and economic insecurity. 
<h1 id="best-practices-in-stakeholder-communication">Best practices in stakeholder communication</h1>
Galina emphasizes the importance of communication, transparency, and collaboration between founders and investors and how cultural differences between regions can have an impact.
For example, founders in the UK are more comfortable with seeking help from their investors than in other regions such as Southeastern Europe. Galina encourages founders to be upfront about their needs and leverage investors&#39; collective knowledge and connections. 
Conversely, Galina mentions the importance of founders choosing investors wisely. Investors shouldn&#39;t just be seen as a source of capital but as strategic partners who share the company&#39;s vision and values. 
Founders should seek investors who can offer financial backing, guidance, valuable connections, and industry expertise during challenging times. 
<h1 id="impact-of-broken-cap-tables-on-investors">Impact of broken cap tables on investors</h1>
For investors, understanding<a href="https://seedblink.com/en/2024-02-20-6-common-cap-table-problems-in-vc-fundraising-1-2"> the ownership of other investors on the cap table</a> is crucial. Transparency is key to understanding the actual rights of an investor, including the allocation of proceeds from future liquidity events. 
Voting power, or who has the power to make which decisions, is crucial to both daily operations as well as the strategic direction of a company. While accepting these discrepancies to an extent, she emphasizes the importance of a balanced risk-reward scenario and clear expectations before entering a deal.
Beyond the cap table, Galina focuses on the rights attached to different share classes. She has even walked away from deals with overly complex or imbalanced structures that excessively favor founders or other investors.
Galina also uses a few examples from her portfolio to illustrate the importance of maintaining a healthy founder share percentage. Data suggests a drop from 65-75% at the seed stage to 45% at Series A, which she also observes in her portfolio. 
However, she identifies a broken cap table situation where a founder&#39;s stake dropped below 45% due to slow growth and numerous funding rounds. This highlights the risk founders face of dilution if they&#39;re not careful about maintaining their ownership.
<h1 id="plan-your-equity-early-on-for-your-esop-program">Plan your equity early on for your ESOP program.</h1>
Galina concludes the discussion by highlighting the importance of stock options for attracting and retaining top startup talent. 
While this might seem like a requirement from VCs, it&#39;s also relevant for angel investors like herself. Strong talent is crucial for a company&#39;s successful growth, and stock options provide a valuable tool to incentivize and keep key employees on board.
Watch the discussion between colleague Irina and Galina on equity management best practices, cap tables, and more here. 
<iframe width="560" height="315" src="https://www.youtube.com/embed/gpaI0M1oU7s?si=hnLgxE1KCweyXm5m" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

The interview is part of our <a href="https://seedblink.com/blog-category?category=allThingsEquity&amp;page=1">#AllThingsEquity content series</a>, and you can learn more about employee stock option plans and equity from our collection of articles and guides.
<h1 id="connect-with-galina">Connect with Galina:</h1>
<ul>
<li><a href="https://www.linkedin.com/in/galina-markova-impact/">Linkedin
</a></li>
<li><a href="https://therecursive.com/impact-investing-what-it-is-and-why-it-will-go-mainstream/">Guest author on The Recursive</a></li>
</ul>

An insightful discussion on equity ownership planning, cap table best practices, tips and tricks for stakeholder communication, and more.

Equity ownership - an angel investor perspective with Galina Markova

In today&#39;s rapidly changing world,<a href="https://investors.seedblink.com/?utm_source=SeedBlink&amp;utm_medium=Blog&amp;utm_campaign=impact-investing"> investors increasingly seek deals and opportunities</a> that align with their values. 
Impact investing goes beyond traditional philanthropy by integrating sustainable development goals into investment decisions. It’s about investors actively seeking positive impacts, such as climate change, poverty alleviation, gender equality, and access to healthcare and education.
In this article, we will explore the concept of impact investing, delving into its meaning, risks, opportunities, advantages, and disadvantages. We will also delve into the key differentiators, such as environmental, social, and governance (ESG) and socially responsible investing (SRI).
Key takeaways:
<ul>
<li>Impact investing <a href="https://seedblink.com/en/2023-08-21-investing-with-purpose-galina-markovas-approach-to-angel-investing">allows investors to align their capital</a> with values and pursue positive impacts alongside financial returns.</li>
<li>This sector is projected to continue its upward trajectory, expecting to <a href="https://www.thebusinessresearchcompany.com/report/impact-investing-global-market-report#:~:text=The%20global%20impact%20investing%20market,least%20in%20the%20short%20term.">reach $955.95B by 2027.</a></li>
<li>The landscape has seen significant growth, with the emergence of unicorn impact companies and increased funding. </li>
<li>Impact investing differentiates from sustainable approaches like ESG and SRI, offering unique focuses and objectives.</li>
</ul>
<h1 id="characteristics-of-impact-investing">Characteristics of impact investing</h1>
<a href="https://therecursive.com/impact-investing-what-it-is-and-why-it-will-go-mainstream/">Impact investing is an investment approach</a> that intentionally seeks to generate positive social and environmental impact alongside financial returns.
The key characteristics of impact investing are:
<ul>
<li>Intentionality: Impact investors are deliberate in their search for investments that will create a positive impact. They have clearly defined impact goals and objectives and <a href="https://seedblink.com/?utm_source=SeedBlink&amp;utm_medium=Blog&amp;utm_campaign=impact-investing">invest in companies</a> and funds aligned with them.</li>
<li>Additionality: Impact investors invest in companies and funds that create new value and add to the existing social and environmental good pool. They avoid investing in companies and funds that are simply &quot;business as usual.&quot;</li>
<li>Measurability: Impact investors measure the impact of their investments. They track the progress of their investments toward their impact goals and objectives and make adjustments as needed.</li>
</ul>
These characteristics distinguish impact investing from other sustainable investment approaches, such as ESG and SRI. ESG investing and SRI focus on integrating environmental, social, and governance factors into investment decisions. 
<h1 id="key-differentiators-of-impact-investing">Key differentiators of impact investing</h1>
Impact investing is often intertwined with other sustainable approaches, such as environmental, social, and governance (ESG) and socially responsible investing (SRI). While they share common goals of integrating sustainability into investment decisions, they have distinct characteristics and objectives.
While these approaches share common goals of generating positive change, they differ in their specific focuses and implementation.
<h2 id="impact-investing-vs-esg">Impact investing vs. ESG</h2>
Whether an investor seeks to actively drive measurable change or integrate sustainability factors into their portfolio, both approaches offer opportunities to create a positive impact while pursuing financial returns. 
<img src="/img/copy-of-disadvantages-of-a-cap-table-software-vs.-excel-sheets-1-.png" alt="">
Ultimately, the choice between impact investing and ESG investing depends on an individual&#39;s specific objectives, preferences, and desired outcomes.
<h2 id="impact-investing-vs-sri">Impact investing vs. SRI</h2>
While both seek to align investments with ethical and social considerations, they have different approaches and objectives. 
While impact investing focuses on creating measurable positive change through intentional investments, SRI primarily emphasizes negative screening to exclude assets conflicting with specific ethical criteria. 
<img src="/img/copy-of-disadvantages-of-a-cap-table-software-vs.-excel-sheets.png" alt="">
Both approaches provide avenues for incorporating values into investment decisions, and the choice between impact investing and SRI ultimately depends on an investor&#39;s preferences, deals, and desired outcomes.
In conclusion, impact investing offers a unique opportunity to combine financial success with meaningful social and environmental results. Impact investing can disrupt the economic environment and generate good change on a global scale as more investors understand its potential. 
<h1 id="risks--opportunities-of-impact-investing">Risks &amp; opportunities of impact investing</h1>
This sector offers a unique blend of risks and opportunities that investors should consider when aligning their capital with their values.
By understanding and evaluating the advantages and disadvantages of impact investing, investors can make informed decisions and align their investment strategies with their desired impact goals.
<h2 id="advantages-of-impact-investing">Advantages of impact investing</h2>
Social and environmental impact. 
One of the primary advantages of impact investing is the ability to create positive change in the world. Investors can contribute to solutions for pressing global issues, such as climate change, poverty, and inequality.
Financial returns. 
Contrary to popular belief, impact investments can generate competitive financial returns. 
Many studies have shown that companies with strong environmental, social, and governance (ESG) performance often outperform their peers in the long run, potentially leading to attractive financial gains.
Risk mitigation
Impact investing can help mitigate risks associated with traditional investments. 
By considering environmental and social factors, investors gain insights into potential risks that may affect the financial performance of companies, such as regulatory changes, reputational damage, or supply chain disruptions.
Innovation and long-term thinking
Impact investments often focus on disruptive and innovative solutions. By supporting these ventures, investors contribute to developing groundbreaking technologies and business models that can drive sustainable change. 
Additionally, impact investing encourages a <a href="https://seedblink.com/en/2023-07-27-the-winning-edge-in-angel-investing-embracing-the-power-of-long-term-thinking">long-term perspective</a>, fostering portfolio stability and resilience.
<h2 id="disadvantages-of-impact-investing">Disadvantages of impact investing</h2>
Limited investment opportunities
Despite the growing interest in impact investing, the universe of <a href="https://investors.seedblink.com/?utm_source=SeedBlink&amp;utm_medium=Blog&amp;utm_campaign=impact-investing">investment opportunities</a> may still be relatively limited compared to traditional markets. 
This can present challenges in achieving diversification and may require investors to be patient in finding suitable investments that align with their specific impact goals.
Measurement and reporting challenge
The impact of investments can be complex, as there needs to be a standardized framework for measuring and reporting social and environmental outcomes. 
This lack of uniformity can make it difficult to compare and evaluate the effectiveness of different impact investments.
Market volatility.
As with any investment, impact investments are subject to market volatility and economic fluctuations. Investors should be aware that the value of their investments may fluctuate and may experience periods of lower returns or even losses.
<h1 id="the-state-of-impact-investing">The state of impact investing</h1>
Before delving into impact investing, let’s look at its core principles. It involves allocating capital toward ventures, organizations, and funds that generate measurable social and environmental benefits alongside financial returns. 
Impact investing has become a tool that allows investors to support causes they care about while pursuing economic returns. The <a href="https://www.thebusinessresearchcompany.com/report/impact-investing-global-market-report#:~:text=The%20global%20impact%20investing%20market,least%20in%20the%20short%20term.">global impact investing market </a>size grew from $420.91B in 2022 to $495.82B in 2023 at a compound annual growth rate (CAGR) of 17.8% and is expected to grow to $955.95B in 2027.
“We see impact investing, in the venture capital context, as a superior investment strategy because it addresses the most pressing problems in the world. Startups that solve meaningful problems experience the highest growth and generate the highest returns for their investors - this has always been the case! 
We are now at a point where, especially in the EU and US, the most pressing problems relate to impact -- reducing negative impact and maximizing positive impact. Individuals, organizations, and regulators are slowly but surely accepting this and creating an environment where solving such problems will be generously rewarded!
We invest in European digital tech startups that solve meaningful problems for the Planet or People. For us at 4impact, the case for digital tech and impact is also a very clear one. Many unsustainable behaviors, be they committed by individuals or organizations, come from bad decision-making due to complexity. Digital technologies, and by that I mean smart software solutions, are best suited to informing better, more sustainable decision-making at scale. 
Oh, and digital technologies have generated some of the highest venture returns to investors in history! They can, therefore, attract a lot of much-needed capital.
Sustainability and impact are becoming driving forces of our societal, political, and economic thinking, and digitization continues to shape our lives. This is why we invest in the intersection of digitization and sustainability.”
 <a href="https://www.linkedin.com/in/svnmyr/">Sven Meyer</a>, Associate at <a href="https://www.4impact.vc/">4Impact.</a>
Additionally, there&#39;s a significant slowdown in impact VC funding globally despite the urgent need for progress on Sustainable Development Goals (SDGs). Impact startups raised ~$41 billion in 2023 (projected), a 36% drop compared to 2021-2022, mirroring the global VC funding decline (35%). This is concerning because none of the 17 SDGs are expected to be achieved in 2023.
<img src="/img/screenshot-2024-05-21-123242.png" alt="">
Source: <a href="https://dealroom.co/reports/the-state-of-impact-startups-and-vc-2023">Impact Startups 2023 - Dealroom</a>
In Europe and this sector, there are a few notable movements. Europe surpassed the US as the top founder of impact startups in 2023 and is showing more signs of resilience during the downturn compared to other regions of the world. 
Other significant highlights are:
<ul>
<li>Europe holds the highest share (over 30%) compared to the US (under 10%).</li>
<li>Low- and middle-income countries (LMICs) have a minimal share (5%) despite their vulnerability to climate change and large populations.</li>
<li>Climate tech dominates impact investment, with areas like carbon capture, lab-grown meat, and hydrogen seeing strong growth.</li>
<li>Climate tech VC funding is down 35% from 2022, but other funding sources, such as private equity, project finance, and debt, are also filling the gaps. </li>
</ul>
&quot;At Impact X Capital, we see impact investing as a catalyst for social change. 
By strategically deploying our capital into companies led by underrepresented entrepreneurs, we create a double bottom line: fostering positive change while shaping a future that reflects diversity, equity, and shared pride in the world we collectively build.&quot;
 <a href="https://www.linkedin.com/in/ericdcollinsba/?originalSubdomain=uk">Eric Collins</a>, CEO of <a href="https://www.impactxcapital.com/">Impact X Capital.</a>
Over the past three decades, the landscape has witnessed significant growth and success. A remarkable testament to this is the +200 impact companies that have attained unicorn status.
<img src="/img/screenshot-2024-05-21-124227.png" alt="">
Source:<a href="https://dealroom.co/reports/the-state-of-impact-startups-and-vc-2023"> Impact Startups 2023 - Dealroom</a>
The commitment towards sustainable development is evident as Climate Action and Affordable and Clean Energy remain among <a href="https://dealroom.co/reports/the-state-of-impact-startups-and-vc-2022">the most funded Sustainable Development Goals</a> in 2022 and 2023, according to Dealroom. 
What conclusions can we draw from here? Europe has and will continue to have a deep focus on addressing environmental challenges and promoting clean and accessible energy sources. 
“The Future is Sustainable.
State-led initiatives regarding sustainability have been growing in number and importance. New regulations, definitions, methodologies, and classifications have appeared. This has consequences: It may be challenging for non-impact or non-sustainable companies to keep up and adapt to a new, more sustainable market. 
Meanwhile, for impact-driven companies, this change may imply just a few tweaks and little adaptation, in fact, new regulations entail a more solid foundation where to establish the impact ecosystem.
These regulations and initiatives span from tax-related and financial regulations to specific market regulations such as manufacturing, transportation, climate-related regulations, labor laws, circular economy, trade, waste, etc.
This makes impact investment “future-proof.”
Generational Shift and Growing Trends. 
In a recent Forbes article and multiple market platforms, top trends include purpose-driven and sustainability-related startups. People are starting to care whether your business is trying to make a difference. This has its roots in the growing awareness of the need to address social and environmental challenges.
As more people become aware of our problems, they are also increasingly interested in finding solutions that generate both financial returns and positive impacts, especially among Gen X and Millennials.
At a human level, impact investing is also quite fulfilling,”
<a href="https://www.linkedin.com/in/lorenzo-guerra-bautista/">Lorenzo Guerra Bautista</a>, Investment Director at <a href="https://creas.es/en/about-us/">Creas</a>.
Europe is leading globally in impact investing, counting more than 60% of the global efforts. Most European investments were deployed nationally, but a surprising 16% has been<a href="https://seedblink.com/en/2022-07-26-the-state-of-cross-border-investments-in-europe"> invested cross-border. </a>
In 2023, Climate tech investors raised $10.9B, a much slower fundraising pace than the last two years. However, a lot of dry powder from this sector is still available to deploy. 
<img src="/img/screenshot-2024-05-21-125005.png" alt="">
Source: <a href="https://dealroom.co/reports/the-state-of-impact-startups-and-vc-2023">Impact Startups 2023 - Dealroom</a>
Beyond VC funding, climate tech companies raised nearly $50B in other private financing, a historical high. Private funding is projected to be on par with 2021-2022.
<img src="/img/screenshot-2024-05-21-125101.png" alt="">
Source: <a href="https://www.evpa.ngo/sites/www.evpa.ngo/files/publications/EVPA_Accelerating_Impact_2022.pdf">Impact Europe - Accelerating Impact 2022</a>
The average of mainstream impact investing is estimated to be €17.8T, the sustainable/ESG investment reached €3T (17%) in 2021, and <a href="https://www.evpa.ngo/sites/www.evpa.ngo/files/publications/EVPA_Accelerating_Impact_2022.pdf">the latest Global Impact Investment Network (GIIN) </a>market sizing estimated the impact investing market (direct and indirect investments, including listed assets) to be 562.9 billion.
Italy, France, and Spain are the biggest European countries aiming for constant and better impact investing efforts. 
<img src="/img/screenshot-2024-05-21-125201.png" alt="">
Source: <a href="https://www.evpa.ngo/sites/www.evpa.ngo/files/publications/EVPA_Accelerating_Impact_2022.pdf">Impact Europe - Accelerating Impact 2022</a>
These achievements and ongoing support reflect the increasing recognition of the potential for impactful investments to drive positive change while delivering financial success.
<h1 id="measuring-your-impact">Measuring your impact</h1>
Measuring the impact of impact investments can be challenging. 
However, investors can use a few frameworks and tools to measure impact. For example, the Global Impact Investing Network (GIIN) has developed<a href="https://iris.thegiin.org/"> the IRIS+ system</a>, a widely used framework for measuring and reporting social and environmental impact.
“I recommend to startups and their investors to use the 3Ms” — Measure. Monitor. Manage. 
&quot;When intentional about it, devise your strategy for your stakeholders and build a process around measuring, monitoring, and managing that will inevitably lead to higher value generation.
You want to deliver the best outcomes for stakeholders. That creates value for them; thus, the market rewards your company with a high valuation.&quot;
Says <a href="https://seedblink.com/en/2023-08-21-investing-with-purpose-galina-markovas-approach-to-angel-investing">Galina Markova, Impact Angel Investor
</a>
Impact investors typically measure the impact of their investments in terms of the following:
<ul>
<li>Outputs: The number of people served, reduced pollution, etc.</li>
<li>Outcomes: The changes in people&#39;s lives or the environment attributable to the investment.</li>
<li>Impact: The broader social and environmental changes attributable to the investment.</li>
</ul>
<h1 id="future-thoughts">Future thoughts</h1>
Impact investing is a growing field, and there is an increasing body of research on the impact of impact investments. Studies have shown that impact investments can generate competitive financial returns while creating a positive social and environmental impact.
The future of impact investing is bright, and it is up to all of us to embrace this transformational strategy and help build a more sustainable and inclusive society.
For more information and details about the European startup ecosystem, technology trends, insights into venture capital, and investment opportunities, <a href="https://seedblink.com/newsletter">subscribe to our newsletter.</a>

Discover the power of impact investing! This guide demystifies the world of socially responsible investing, helping you make a difference. 

Investing for positive change: What is impact investing?

Two years ago, SeedBlink decided to not only offer a platform for Startups to receive funding but also help investors stay ahead of the curve in tech investing by offering them a course designed to educate on financial issues, the latest trends, and opportunities that will later help them make informed investment decisions. The 3rd edition of Tech Investors Academy will take place in June, and this year, after receiving feedback from our participants, the module has been improved to stay in line with the needs of investors. As we reflect on the program&#39;s impact, it&#39;s clear that the Academy has not only educated its participants but has also fostered a vibrant community of informed and proactive tech investors. 
The first two editions gathered 200 participants and guest speakers from all over Europe: Greece, Bulgaria, Romania, the Netherlands, the Czech Republic, Italy, and France. This year, we added specialists from Benelux and Sweden to the list.  
<h2 id="first-edition">First Edition</h2>
In 2022, the masterclass was addressed to all our investors willing to leverage their investment skills and was led by respected experts from the Bucharest International School of Management. The main focus was to clarify the startup investment ecosystem better, helping investors correctly evaluate tech startups, predict growth, and recognize promising opportunities. 
It included three external experts: Andreas Antonopoulos, rector of UNYP and visiting professor of Bucharest International School of Management, Sergiu Negut, Co-Founder and CFO at FintechOS, and Florin Ilie, Deputy CEO, Head of Wholesale Banking at ING Romania. Testimonials show that participants found the course enlightening and well-structured, offering access to valuable and essential resources otherwise hard to find. 
Participants also reported that these sessions significantly enhanced their understanding of venture investments and equipped them with practical skills to evaluate startup opportunities. The hybrid model was appreciated, and gathering was considered a proper way to wrap up the masterclass. 
<h2 id="second-edition">Second Edition</h2>
This edition was designed for early venture investment investors, who had newly embarked on the journey of venture investments. It was comprised of three sessions Masterclass on Understanding the basics of venture investments hosted by Andreas Antonopoulos, rector of UNYP and visiting professor of Bucharest International School of Management, and three Community Dialogues that allowed participants to hear directly from seasoned investors and special guests from the venture ecosystem.
These sessions highlighted key factors in investment decisions and strategies for successful due diligence, offering participants a deep dive into the local venture landscape and ensuring that participants could apply what they learned in real-world scenarios. 
Radu Georgescu, Founder of SeedBlink, and Cristian Munteanu, Partner at Early Game Ventures had a dialogue with Octavian David, a member of our community to discuss the key factors in investment decisions and identify promising sectors and strategies. Mario Peshev, a very active investor in our community, Dimitris Matsakis, an Angel Investor &amp; Business Advisor and Andrea Piazza 
Angel Investor &amp; Co-leader at COREangels Femtech + reviewed the critical role of Angel Investors. In the third session, Octavian David, Alexandros Eleftheriadis, Partner at Big Pi Ventures, and Diana Koziarska, Founding Partner at SMOK Ventures addressed VC&#39;s valuation techniques. 
The participants reported how important this edition was in understanding startup dynamics or a business&#39;s potential performance from different points of view. The insights from both VC Partners and Angel Investors offered multiple perspectives on the startup ecosystem and effective strategies.
<h2 id="3rd-edition-what-we-learned-what-we-will-improve-and-what-to-expect">3rd edition, what we learned, what we will improve, and what to expect</h2>
The experience of the last two years has shown that most prefer a self-paced class divided into chunks of lessons, making them easier to follow and revise. This translates into turning the program into a four-week course, with videos released at the start of each week and a live Q&amp;A session at the end of every week. This also offers a chance for anyone to participate, no matter their location or time zone.  
The last two editions were targeted towards beginner and intermediate investors, but this year, we will focus our content on advanced investors, making the information go deeper into the many aspects of investments. This doesn’t mean you can&#39;t participate if you are a beginner; once signed up, you gain access to last year’s classes and can gain the knowledge you lack before the start of the 2024 edition.   
Participants of the former years have also expressed a desire to better understand the dynamics of investment by being presented with real-life case studies of SeedBlink&#39;s founders. This meant involving more of our expert colleagues to dissect and find successful startup patterns. This will also help participants better understand our internal expertise and the people behind it, with whom they might interact in the future if they decide to invest via SeedBlink.  
Hosts for the classes will be SeedBlink experts and their guests, a blend of engaging finance-savvy specialists. Moreover, this year&#39;s edition will venture further into the understanding of investments: 
<ul>
<li>Angel Hadjiev, and Tihomir Dyankov, VC, will identify the factors that contribute to portfolio performance and the process of deal assessment.  </li>
<li>Andrei Hancu and Nicoleta Cherciu, an investment lawyer, will examine the impact of legal conditions and commercial terms on investment portfolios. </li>
<li>Robbin Hoogstraten and Willen Hulsink, an investor and entrepreneurship professor, will discuss how to develop strategies for effective cross-border investment and help navigate macroeconomic challenges.  </li>
<li>Eric Bartha with Oden Vallien and Markus Oberg, entrepreneurs, will engage in understanding market dynamics and secondary market transactions. </li>
</ul>
<a href="https://pages.seedblink.com/tech-investors-academy-2024/">Join Tech Investor Academy</a> and get 40% off our Club Membership.

The 3rd edition of Tech Investors Academy will take place in June

The story of Tech Investors Academy  

<h2 id="a-lot-of-interesting-news-to-talk-about-scroll-down-for">A lot of interesting news to talk about. Scroll down for:</h2>
<ul>
<li>Primary Market: active opportunities</li>
<li>Secondary market updates</li>
<li>Investors resources picks </li>
<li>Events we can meet at</li>
</ul>
<h2 id="portfolio-news">Portfolio news</h2>
85% of our portfolio companies have shared their Q1 2024 results. Access your account to review the most recent KPIs for your portfolio. 
<h2 id="active-opportunities">Active opportunities</h2>
🇵🇱 VC-Backed | Healthtech | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D912945def2%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Ccc9420d7edc5465a62e308dc789a818d%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638517852208963792%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=uvFnOLQ5LjEc5gOaRZnpeUuE0aISwYyo44F0PNf47m4%3D&amp;reserved=0">Mindgram</a> is raising €1,75M to support mental health &amp; well-being in the workplace. Backed by Credo, Portfolion &amp; others.
<a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D1cefc153de%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Ccc9420d7edc5465a62e308dc789a818d%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638517852208973485%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=vD%2Fu6mqNiIp5eJmBGaj9POqKwyZ6Vq6%2BFXkHwR63SeY%3D&amp;reserved=0">Explore all the active opportunities here. </a>
<h2 id="liquidity-on-your-terms">Liquidity on your terms</h2>
Rare, mature, or discounted investments are available on the secondary market. Rearrange, reconfigure, and reload your portfolio. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dce35732d82%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Ccc9420d7edc5465a62e308dc789a818d%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638517852208980067%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=yhY8SCoXkN%2F%2BMv0hd4%2Bp12PhUDw3Nu6GTWYd7ougNIs%3D&amp;reserved=0">Check the Bulletin Board.</a>
<h2 id="investors-resources-pick">Investors resources pick</h2>
Tech Investors Academy | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D89fc2b915a%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Ccc9420d7edc5465a62e308dc789a818d%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638517852208985831%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=sr9%2BL8nuvfy3EBDPFE3FnQQj%2FARMkuWQOY56ofq41tQ%3D&amp;reserved=0">Learn more</a>
Delivered over four weeks by experts from venture capital and academia, TIA blends theory, case studies, and live sessions on advanced investment strategies. 
The rise of ESOPs | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D1906d437df%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Ccc9420d7edc5465a62e308dc789a818d%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638517852208991302%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=QjdsvUjVHUWG%2BFkem10GYlY%2FnyI7sTvdOFjBBIPUJeg%3D&amp;reserved=0">Read more</a>
The ESOP encourages employees to go beyond their specializations and to think beyond what they know how to do. 
<h2 id="lets-network">Let&#39;s network</h2>
🇦🇱 May 22: Tirana Tech Open, Tirana | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Df261afcf57%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Ccc9420d7edc5465a62e308dc789a818d%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638517852208996692%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=0zeTYZtoanlL7JcZ9paPKkZ1pX5MptWjztZU1p4%2FgRY%3D&amp;reserved=0">Info
</a>
🇳🇱 May 28: SuperConnectors Summit, Rotterdam | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3De3fc066f9a%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Ccc9420d7edc5465a62e308dc789a818d%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638517852209002114%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=NvPC4XjyRIuHu9dfr8E4SOWMP0%2B7e1YvLorMBXV1AGY%3D&amp;reserved=0">Info
</a>
🇳🇱 May 29-30: Upstream Festival, Rotterdam | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D65d43fbbaf%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Ccc9420d7edc5465a62e308dc789a818d%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638517852209007463%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=hbujMx5Jvo%2FYzORFFd5xbmwlZSwZ9d5XI8T%2Bt6R8uyo%3D&amp;reserved=0">Info</a> 
<h2 id="perk-of-the-week">Perk of the week</h2>
Discounted <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D7573723f54%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Ccc9420d7edc5465a62e308dc789a818d%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638517852209012867%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=N%2FY4NHVrlEaA0k%2BSh40KezjL0c2juZst%2FIa32MXZ3MM%3D&amp;reserved=0">full lifecycle recruitment</a> and talent acquisition from On The Brink Recruiting.

The Netherlands has established itself as a leading hub for startups in Europe, marking down the first stock exchange in the world and the first equity crowdfunding platform in Europe. 
Are you a founder looking to build and grow your company in The Netherlands? This article is a good start to familiarize yourself with the market, see what local support is available through startup programs and accelerators, explore different funding options available, and see what resources you have to take your company to the next stage of growth from a simple idea to become the next unicorn.
<h2 id="are-you-an-investor">Are you an investor?</h2>
Stick around to learn about the strong community of startups in local hubs like Amsterdam or Rotterdam, and <a href="https://seedblink.com/en/2023-04-25-the-netherlands-a-hub-for-innovation-and-entrepreneurship">check out the ecosystem overview guide</a> with dedicated resources for investors.
<h1 id="overview-of-the-netherlands-startup-ecosystem">Overview of the Netherlands startup ecosystem</h1>
The country has highly skilled talent, a strong legacy in science and technology, and a culture of innovation and entrepreneurship. Dutch people are well known to foster a culture of innovation and risk-taking.
Is the Netherlands a good country to start a business?
Yes, absolutely, and here are some reasons why:
<ul>
<li>A thriving startup ecosystem</li>
<li>A supportive government </li>
<li>A wide range of access to funding</li>
<li>A highly educated workforce</li>
<li>A friendly business environment</li>
<li>A leader in sustainability and corporate responsibility</li>
</ul>
The most crucial aspect of fostering a thriving startup ecosystem isn&#39;t just about starting businesses but empowering them to scale. The Netherlands can unlock the true potential for value creation by providing resources and support for growth.
According to<a href="https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/building-a-world-class-dutch-start-up-ecosystem#/"> a McKinsey report,</a> start-ups founded in the Netherlands have created more than 130,000 local jobs across all provinces and hold the potential to contribute an estimated €250B to €400B market capitalization by 2030.
The Netherlands is also a very friendly startup country that holds the 4th place in start-up value creation in Europe, according to the same McKinsey report.
How many startups are in the Netherlands? 
There are approximately<a href="https://www.iamsterdam.com/en/business/startupamsterdam"> 4500 Dutch startups right now</a>, with around 1000 launched in the Netherlands annually and around 900 startups per million residents by 2030. It’s one of the reasons why the country is among the top countries in the European Union.
<img src="/img/screenshot-2024-05-21-111227.png" alt="">
Source: <a href="https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/building-a-world-class-dutch-start-up-ecosystem#/">Building a world-class Dutch start-up ecosystem</a>
This pace of founding puts the Netherlands <a href="https://2021.stateofeuropeantech.com/chapter/europe-global-tech-force/article/europes-next-act/">fifth in the European Union,</a> alongside Estonia, Ireland, Luxembourg, and Denmark, and eighth Europe-wide, alongside Switzerland, the UK, and many others.
<h1 id="how-do-you-start-a-business-in-the-netherlands">How do you start a business in the Netherlands?</h1>
As a founder looking to start a business in the Netherlands, it&#39;s essential to understand the local legal structures and registration processes. The local government has created <a href="https://business.gov.nl/starting-your-business/checklists-for-starting-a-business/">a comprehensive guide for founders</a> that is easy to follow as a checklist.
Here is a short explainer video to guide you around some of the most commonly encountered legal structures companies have in the Netherlands.
<iframe width="560" height="315" src="https://www.youtube.com/embed/2g_X-vXQmAs?si=_vK_msXGg5bYS4bJ" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>

Begin by selecting the appropriate legal structure for your business. These are the main options and a few important things you should know. 
<h2 id="sole-proprietorship-eenmanszaak">Sole Proprietorship (Eenmanszaak)</h2>
It is one of the most common business structures in the country where you, as the sole owner, have unlimited liability, meaning you are personally responsible for all company debts. You also provide all the capital for the business. 
The key advantage of this structure is that you, as the owner, have complete control over company decisions and are the sole beneficiary of its profits. 
<h2 id="private-limited-company-bv">Private Limited Company (BV)</h2>
It is one of the most popular startup choices due to its limited liability protection. Compared to sole proprietorship, you are not liable for any debts made by the company. 
The disadvantage of this type of company is the higher taxes to be paid and the need to list the company&#39;s capital every year. As a founder, owning more than 5% means you&#39;ll have to pay a 25% tax on profits.
<h2 id="general-partnership-vof">General Partnership (VOF)</h2>
This type of company structure applies when two or more persons own the business. In this case, they are jointly and severally liable for the company’s activities, including debts, and every party involved should bring their contribution from all perspectives: money, goods, time, etc.
Once you&#39;ve chosen your legal structure, register your business with<a href="https://www.kvk.nl/en/"> the Dutch Chamber of Commerce (KvK).</a> This registration officially establishes your business as a legal entity in the Netherlands. 
Additionally, you must register with the Dutch Tax Authorities (Belastingdienst) to meet all tax obligations, including VAT registration, if applicable. 
<h1 id="the-netherlands-startup-visa">The Netherlands Startup Visa</h1>
If you are not based in the Netherlands and want to move locally or build your startup in this beautiful country, you might want to look at <a href="https://www.startupvisa.nl/">the Netherlands Startup Visa.</a>
This residence permit is specifically designed for ambitious entrepreneurs from outside the European Union (EU) who wish to launch an innovative business in the Netherlands. This visa aims to attract global talent and foster the growth of innovative startups within the country.
According to the local organizations that guide the program, here is what a suitable candidate for the program looks like. 
A foreign entrepreneur who wants to launch an innovative startup that introduces a new technology that is not yet known in the Dutch market. 
You can <a href="https://business.gov.nl/coming-to-the-netherlands/permits-and-visa/residence-permit-for-foreign-startups/?gad_source=1&amp;gclid=Cj0KCQjw3ZayBhDRARIsAPWzx8qN465Ipg27QSk5ChxC69XUsHdNsajNCT6l3fIf4iQZWC4vBdv07GAaAnw0EALw_wcB">learn more about the program,</a> the application process, eligibility conditions, and other particularities from the local government. 
<h1 id="how-do-you-grow-your-company-in-the-netherlands">How do you grow your company in the Netherlands?</h1>
In the early stages of funding, finding the right resources to take you to the next step is important. For some of you, this may be a mentorship program; for others, it may be networking opportunities and potential access to funding from angel investors.
Taking your startup from a simple idea to a fully developed company is not easy, but you should remember you are not alone. As a founder, you have a community of more experienced founders and investors to guide you.
<h2 id="early-stage">Early-stage</h2>
The startup ecosystem in the Netherlands includes a strong network of incubators, accelerators, and co-working spaces that provide access to mentorship, funding, and various resources in all the country&#39;s major hubs. Here are some of the resources you can find in the local community:
Startup Amsterdam.
An initiative by the <a href="https://www.iamsterdam.com/en/business/startupamsterdam">City of Amsterdam</a> to support the local startup ecosystem by connecting startups with talent, investors, and other resources. It offers various programs, events, and a <a href="https://www.iamsterdam.com/en/business/setting-up-a-business-in-amsterdam/step-by-step-guide">comprehensive guide to starting and scaling a business in Amsterdam.</a>
<img src="/img/screenshot-2024-05-21-112052.png" alt="">
The Dutch Startup Association.
A <a href="https://www.dutchstartupassociation.nl/">non-profit organization</a> that represents and advocates for the interests of startups and scale-ups in the Netherlands. Its mission is to create a favorable environment for startups to grow and thrive, contributing to the country&#39;s innovation ecosystem. 
Techleap.nl.
<a href="https://techleap.nl/">A government-backed initiative</a> aimed at helping Dutch startups scale globally. Techleap.nl offers programs focused on scaling, funding, and talent acquisition and provides a platform for connecting with international markets.
Startup bootcamp.
Startupbootcamp is one of <a href="https://www.startupbootcamp.org/">the first European acceleration platforms</a> active across 4 continents with over 80 individual startup accelerators. The 3-month accelerator helps promising startups access relevant knowledge, connections, and opportunities in their fields and build a sustainable global business. 
<h2 id="late-stage">Late-stage</h2>
We already know that the value comes from scaleups and large companies that have reached the unicorn level or beyond. However, as your company grows, you might require larger funding stages. It comes with a challenge because the Dutch ecosystem, like many others in Europe, needs more late-stage capital to deploy. 
It is one of the biggest challenges grown companies face, so they must look for international venture capital funds to invest in late-stage rounds. According to the McKinsey report, local companies are underperforming in scaling to larger markets compared to other European countries and the regular EU average.
<img src="/img/screenshot-2024-05-21-112450.png" alt="">
Source:<a href="https://www.mckinsey.com/industries/technology-media-and-telecommunications/our-insights/building-a-world-class-dutch-start-up-ecosystem#/"> Building a world-class Dutch start-up ecosystem</a>
Additionally, the Netherlands also has a high dependency on foreign VC funds for later-stage funding, leaving a clear need for more domestic support. It’s a problem often encountered in many European startup ecosystems, as startups must look for international venture capital funds at late funding stages.
<img src="/img/screenshot-2024-05-21-112808.png" alt="">
Source:<a href="https://techleap.nl/report/state-of-dutch-tech-report-2024/#toggle-id-1"> State of Dutch Tech 2024</a>
<h1 id="how-do-you-find-investors-for-startups-in-the-netherlands">How do you find investors for startups in the Netherlands?</h1>
According to Dealroom, there are around <a href="https://www.iamsterdam.com/en/business/startupamsterdam">250 venture capital funds</a> in the Netherlands, and more than 3000 fundraising rounds raised only in the Amsterdam region. 
Despite the <a href="https://seedblink.com/en/2022-03-29-investing-in-uncertain-times">uncertain times </a>surrounding Europe and the world in the past few years, the Netherlands has a bright fundraising outlook for 2024. Venture capital investment is up 2.2 times yearly, currently outpacing even the global boom from 2021 and 2022, and is more active than ever.
<img src="/img/screenshot-2024-05-21-113252.png" alt="">
Source: <a href="https://dealroom.co/uploaded/2024/04/Dealroom-Netherlands-Q1-2024-report.pdf?x90202">Netherlands Q1 2024 report by Dealroom</a>
If we look across all the stages of growth, we notice that early-stage funding has settled above pre-2021 levels, and late-stage has its highest quarter
on record.
<img src="/img/screenshot-2024-05-21-113351.png" alt="">
Source: <a href="https://dealroom.co/uploaded/2024/04/Dealroom-Netherlands-Q1-2024-report.pdf?x90202">Netherlands Q1 2024 report by Dealroom</a>
Check out the SeedBlink <a href="https://www.nimity.com/vc-network">European VC network</a> featuring all the local venture capital funds, and let us help you in your fundraising journey. We’ll help you find the right lead investor for your upcoming round!
<h1 id="growing-your-startup-through-employee-equity-incentives---esop-in-the-netherlands">Growing your startup through employee equity incentives - ESOP in the Netherlands</h1>
ESOPs allow startups to attract and retain top talent by offering employees a stake in the company&#39;s future success. Employees and early collaborators are motivated to contribute to the company&#39;s growth and profitability by providing stock options aligning their interests with the founders. 
This sense of ownership can lead to increased productivity, innovation, and commitment, which are some of the building blocks for the growth of a startup.
<h2 id="types-of-esop-in-the-netherlands">Types of ESOP in the Netherlands</h2>
Culturally, Dutch ESOP practices emphasize consensus-building, social dialogue, and collaboration between employers and employees. Employee ownership is common in the Netherlands, particularly in large companies, though the prevalence and structure of ESOPs can vary by industry, company size, and ownership. Dutch startups can choose from various types of employee stock option plans to incentivize their employees. 
Phantom plan.
The phantom plan is a cash-based incentive allowing companies to motivate their team without equity transfer. The cash bonus amount is derived from the value of company shares (either full value or appreciation over time).
Phantom or virtual plans are ideal for early-stage because they are less complex as legal procedures have lower taxes and administrative costs. The company doesn&#39;t transfer ownership, offering more flexibility on equity ownership and voting rights.
<h2 id="stak">STAK.</h2>
The STAK plan is locally known as the “Stichting administratiekantoor plan” and is a trust set up by the company that allows employees to own the so-called depository receipts (DRs). Put simply, DR-holders have the financial rights of a shareholder without the decision-making powers.
STAK is an alternative well-suited for growth-stage and mature startups with headquarters in the Netherlands that want to give their people company shares but want to keep the decision-making rights with the company.
<h2 id="sar">SAR.</h2>
SAR (Share Appreciation Rights) is a cash bonus based on the increase in the value of a company’s shares over a set period. Unlike stock options, SARs don&#39;t require employees to pay an upfront cost to acquire them. They simply benefit from the stock price growth if they exercise the SARs.
SARs don&#39;t dilute ownership by issuing new shares, which can help young startups looking to maintain control. There are also lower administrative costs compared to traditional stock options.
Founders can set vesting schedules, determine the underlying number of shares for the SAR, and choose the exercise window.
<h2 id="esop">ESOP.</h2>
Offering equity through the traditional ESOP approach grants employees the right, but not the obligation, to purchase company shares at a pre-set price (exercise price) during a specific timeframe (exercise window). 
This incentivizes employees to hold onto their options until the stock price increases, allowing them to profit from the difference between the exercise and market prices.
The <a href="https://www.tax-consultants-international.com/publications/dutch-rules-for-employee-stock-option-plans">new Dutch tax legislation</a> has made stock options more attractive for startups and smaller businesses that want their team to own company shares (after exercise).
<h1 id="lets-meet-in-the-netherlands">Let’s meet in the Netherlands!</h1>
We can’t talk about the beautiful Dutch community without witnessing it with our own eyes. This is why, this year, we have packed our bags and got ready for the upcoming Upstream Festival Rotterdam.
<img src="/img/blog-1200x675-hole-in-one-1-.png" alt="">
We’ll be in Rotterdam between May 28th and May 29th, featuring a series of activities, including a keynote speech by Radu Georgescu, SeedBlink’s Chairman of the Board, and an exclusive event on golf &amp; fundraising readiness as a pro. 
<a href="https://seedblink.com/en/press-room/2024-04-24-seedblink-is-set-to-boost-entrepreneurial-skills-at-upstream-rotterdam-with-radu-georgescu-as-a-speaker-and-an-exciting-city-event">Join us at Upstream Rotterdam.</a>
Last but not least, our colleagues from SeedBlink Netherlands are always available to chat with you and guide you in the fundraising journey. If you are unsure who you should contact, meet <a href="https://nl.linkedin.com/in/robbin-hoogstraten">Robbin Hoogstraten</a>, our Regional Manager of Benelux. 
<img src="/img/screenshot-2024-05-21-114029.png" alt="">

 Unfold the Dutch advantage! Discover the information and resources you need to build and grow your company in The Netherlands in 2024.

The Netherlands - Everything you need to know to build and grow a tech startup

<h1 id="a-lot-of-interesting-news-to-talk-about-scroll-down-for">A lot of interesting news to talk about. Scroll down for:</h1>
<ul>
<li>Primary Market: active opportunities</li>
<li>Secondary market updates</li>
<li>Investors resources picks </li>
<li>Events we can meet at</li>
</ul>
<h1 id="portfolio-news">Portfolio news</h1>
New Q1 2024 Reports are added daily - several startups have already shared their latest results. Access your account to review the most recent KPIs for your portfolio, and explore the most recent <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dd90f879f18%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cb2f6d320739d443a966f08dc731a507a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638511804087367803%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=a8V0caCDJky6BJlwzccmBmNit5eqLhBvn2yK6t4nLLk%3D&amp;reserved=0">news highlights. </a>
<h1 id="active-opportunities">Active opportunities</h1>
🇵🇱 VC-Backed | Healthtech | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D1d71f2bf01%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cb2f6d320739d443a966f08dc731a507a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638511804087382953%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=olI7Pa67LEdwxtbJOYCS3GR2kIAKSbLGfuYwgGpNips%3D&amp;reserved=0">Mindgram</a> is raising €1,75M to support mental health &amp; well-being in the workplace. Backed by Credo, Portfolion &amp; others.
🇺🇸 CLOSING SOON: <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3De43b4af5d8%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cb2f6d320739d443a966f08dc731a507a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638511804087395102%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=ts8VS9nHY7n%2BKV0aGQYZVhZaBXpmDVy1pP3t4vUR7uU%3D&amp;reserved=0">Hunch </a>is raising €1,25M to increase sales through automated marketing &amp; AI. Backed by Catalyst Romania, Euroventures. 
Explore all the active <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D32f0965dc2%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cb2f6d320739d443a966f08dc731a507a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638511804087409164%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=n6CAfvXWXUUg8CYsM4MPPZJat8G7ZzniHi%2FB7Pld1Vw%3D&amp;reserved=0">opportunities here. </a>
<h1 id="liquidity-on-your-terms">Liquidity on your terms</h1>
We&#39;re transforming investment liquidity and it&#39;s clear that freedom, flexibility, and control are at the forefront of every smart investor&#39;s mind. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D0ff54668d2%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cb2f6d320739d443a966f08dc731a507a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638511804087421737%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=LCzJ%2Fb8e%2FxsfYxNeqVBLbh8HRJ1DZ5hGAzygT49%2B9%2FM%3D&amp;reserved=0">Check the Bulletin Board.</a>
<h1 id="investors-resources-pick">Investors resources pick</h1>
Tech Investors Academy | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dbe73d78bc7%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cb2f6d320739d443a966f08dc731a507a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638511804087432901%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=yWEmZnkCvH9b0bDCJFV0qKqw1AEoM69GWyl70UwLAbU%3D&amp;reserved=0">Learn more</a>
Learn about deal assessment, portfolio building, legal aspects, cross-border investment strategies, and liquidity in secondary markets. 
VC Red Flags | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D04c2e9fa5b%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cb2f6d320739d443a966f08dc731a507a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638511804087443212%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=M2zo6S38rVKuqunHq6FiUWzfsXeWhfC0M%2BMK%2FevGqIo%3D&amp;reserved=0">Read more</a>
Essential tactics for cap table structuring, reducing startup risks, and avoiding grant reliance, from our dear friends from EU.VC
From Airbnb PM to $1.5BN Founder | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Df5926658ac%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cb2f6d320739d443a966f08dc731a507a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638511804087466238%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=lHj3Nx%2FK1ffBpY66Sw%2Flz45T8MR59678ry5Gel1mEF0%3D&amp;reserved=0">Tune in</a>
A deep dive with Rujul Zaparde, the Co-Founder and CEO of Zip, adopted by leading enterprises and startups including Snowflake, Canva, Airtable, Webflow, and others. 
Why athletes become investors | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dd394f8d9df%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cb2f6d320739d443a966f08dc731a507a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638511804087476835%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=jOL7n66v2%2BDlTuHLEUtBp1B%2BApeFDsFCu74iVt04ieo%3D&amp;reserved=0">Read more</a>
Ball is life, but so is financial security! Learn why athletes like Jason Esseboom are trading jerseys for investments. 
<h1 id="lets-network">Let&#39;s network</h1>
🇷🇴 May 17-19: Techstars Startup Weekend, Bucharest | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D5b41899315%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cb2f6d320739d443a966f08dc731a507a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638511804087487627%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=%2BHIiGjbnQcIK3Jocpi7LxFgk7Llmysne04vAZ5tIbMc%3D&amp;reserved=0">Info
</a>
🇦🇱 May 22: Tirana Tech Open, Tirana | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Da37206de4d%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cb2f6d320739d443a966f08dc731a507a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638511804087497989%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=Z6eE65CmZmlqaxqWdIlcuA4kVYW246asWEIm4M0Y60o%3D&amp;reserved=0">Info
</a>
🇳🇱 May 28: SuperConnectors Summit, Rotterdam | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dd7ebe60ca0%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cb2f6d320739d443a966f08dc731a507a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638511804087508171%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=kDDPW8BbQ%2FqTWL4YObfEZtyz3vtiY%2FhexhaySDOnrH4%3D&amp;reserved=0">Info
</a>
🇳🇱 May 29-30: Upstream Festival, Rotterdam | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D798b997676%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cb2f6d320739d443a966f08dc731a507a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638511804087517319%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=lX1mTfZ%2FwLcYERKPNMj2EqUVztBaTO%2BSNDqnWXkwJLk%3D&amp;reserved=0">Info 
</a>
<h1 id="perk-of-the-week">Perk of the week</h1>
<a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D3b91bb4d1a%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cb2f6d320739d443a966f08dc731a507a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638511804087527130%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=Chs8LvRcte9nlwPD%2BdqBoJFbpiN0TOqsIpLeSNhCi4E%3D&amp;reserved=0">Technical &amp; Product Due Diligence Services</a> from our partners Ostracon Technology.

Welcome to our guide on Employee Stock Option Plans - ESOPs, which will give you a detailed understanding of this interesting form of ownership and employee compensation plan.

Guide to Employee Stock Option Plans (ESOPs)

Dive into fair market value and startup valuations with our guide on 409A, 83B, BSPCE, HMRC and understand their roles in how to manage equity ownership. 

Startup valuation: Understanding 409A, 83B, BSPCE, and HMRC

Today, we are happy to introduce you to Davide for a conversation on all things equity. <a href="https://it.linkedin.com/in/davide-scafuro-48b5191a">Davide Scafuro</a> is the Founder and Managing Partner of Orbita Verticale and Senior Investment Advisor at Lumen Ventures. 
Let&#39;s get to know him better and discover how his investor experience helps him work with founders on <a href="https://www.nimity.com/equity-management?utm_source=Nimity&amp;utm_medium=SB-blog&amp;utm_campaign=interview&amp;utm_term=davide+scafuro">managing equity</a> correctly.
<h1 id="who-is-davide-scafuro--orbita-verticale">Who is Davide Scafuro &amp; Orbita Verticale?</h1>
“I am Davide Scafuro, and I have a rich background in the fashion industry and a passion for entrepreneurship. 
Over the years, I&#39;ve been deeply immersed in the vibrant startup landscape, wearing the hats of both an entrepreneur and an astute investor. The inception of Orbita Verticale was driven by a singular mission - to provide unwavering support to early-stage enterprises, guiding them through the intricacies of equity management and a myriad of other critical facets of their journey to success.
Orbita Verticale is an early-stage venture capital firm that focuses on investing in innovative startups, primarily in the technology sector. The fund provides financial support, strategic guidance, and mentorship to help startups grow and succeed.”
<h1 id="davides-view-on-how-to-manage-your-cap-table--equity">Davide’s view on how to manage your cap table &amp; equity.</h1>
Davide has a strong foundation in the marketing and fashion industry. 
He has gone through diverse roles, from the complex venture capital world to taking the bold entrepreneurial lead and founding startups.
This journey allowed him to nurture a profound understanding of startups&#39; myriad challenges and opportunities, particularly about the art of effective equity management. 
“Through firsthand experience, I&#39;ve come to recognize the importance of founders possessing a crystal-clear comprehension of their ownership structure.
My professional journey has equipped me with a profound grasp of startups&#39; managerial and operational dimensions. This experience enables me to connect with founders on a deeper level and offer them pragmatic advice. 
_I&#39;ve realized that success in this space is not solely about funding but also about providing mentorship and imparting valuable insights to empower founders in making well-informed decisions regarding their equity management._”
Davide works actively with startup founders on <a href="https://www.nimity.com/equity-management?utm_source=Nimity&amp;utm_medium=SB-blog&amp;utm_campaign=interview&amp;utm_term=davide+scafuro">equity management, </a>so we asked him what this looks like daily.
“We work closely with startup founders to address equity management issues on an ongoing basis. It&#39;s a crucial part of our investment process. 
_We understand that how equity is distributed, how the cap table is managed, and related matters are fundamental to a startup&#39;s long-term success. We are dedicated to helping founders tackle these challenges effectively._”
Furthermore, we wanted to learn from Davide the role of a cap table in his investment thesis and his recommendations for startup founders.
“The cap table structure is undeniably a pivotal element in our evaluation, although it&#39;s not the sole determinant. We also analyze factors such as market potential, team proficiency, and various facets of the business. 
Nonetheless, an excessively convoluted or unfavorable cap table can raise concerns, potentially signifying governance and alignment issues among stakeholders. Striking a harmonious balance is crucial, as it&#39;s imperative that the cap table aligns with and bolsters the company&#39;s long-term objectives.”
More flexibility from investors to improve cap tables at an early stage.
“The company&#39;s stage does play a role in shaping our tolerance for cap table issues to a certain extent. There is typically more room for flexibility in making adjustments and corrections in the early stages. 
However, as the company matures, the cap table should transition into a more stable structure with reduced susceptibility to changes. We tend to be more accommodating of cap table issues in early-stage startups, understanding that they may require time for resolution as the company evolves. 
Furthermore, ensuring that the team, including founders and key employees, holds an equitable share of the equity to maintain a strong alignment with the company&#39;s goals is of utmost importance.”
Broken cap tables come with challenges, and investors must know how to address them.
“Investing in a company with a significantly disrupted cap table would pose challenges. A disordered cap table can signal past mismanagement and even legal entanglements. 
However, we would thoroughly evaluate the unique circumstances, considering whether the founders proactively addressed the issue. While other positive factors may partially offset the problem, it remains a substantial concern. 
In such cases, we might explore the possibility of secondary transactions, although, particularly in the early stages, prioritizing the allocation of funds for the company&#39;s growth is often the most prudent approach.”
Cap table red flags for investors:
<ul>
<li>Losing control of your startup before reaching the Series A funding round.</li>
<li>Not establishing a clear ESOP early on. </li>
</ul>
“It&#39;s important to carefully manage equity distribution to retain influence and provide incentives to crucial team members.”
<h1 id="getting-expert-help-on-esops">Getting expert help on ESOPs</h1>
Awareness of <a href="https://www.nimity.com/employee-stock-options?utm_source=Nimity&amp;utm_medium=SB-blog&amp;utm_campaign=interview&amp;utm_term=davide+scafuro">ESOP plans</a> and cap table management differs from one startup ecosystem to another. Here is how this looks like in Austria through Davide’s lens: 
“It&#39;s crucial for founders to proactively educate themselves on these subjects and seek counsel from seasoned advisors or mentors. 
Local startup associations, legal experts, and venture capital firms like Orbita Verticale can serve as valuable sources of resources and insights to aid Austrian startups in crafting more robust cap tables and implementing effective ESOP programs. 
Building a strong network and leveraging the expertise of experienced professionals can play a pivotal role in enhancing the aspects of startup management.”
<h1 id="best-practices-in-equity-management-from-davide">Best practices in equity management from Davide</h1>
Before diving into Davide&#39;s direct recommendations for startups and how to manage their equity, he wanted to highlight the importance of equity ownership for European founders.
“Clarity in ownership is crucial when assessing an investment opportunity. It provides transparency and ensures that all stakeholders are on the same page. 
Lack of clarity can lead to disputes and complications down the road, potentially jeopardizing the success of the investment.”
Clear vesting schedules.
“One effective best practice is establishing transparent vesting schedules for founders and early employees.
This ensures that their interests are aligned with the company&#39;s long-term success. I&#39;ve had experience with a startup that implemented a well-structured vesting schedule, which played a pivotal role in securing the commitment of key team members to the company&#39;s growth over the years. 
Furthermore, it&#39;s worth mentioning that we always use good and bad leaver clauses for founders to address various exit scenarios.”
Strategic fundraising.
“In my opinion, a strategic approach to fundraising is key to avoiding future problems. It&#39;s not just about raising capital for the round; it&#39;s about finding the right investors to support the company&#39;s growth. 
Strategic investors can provide invaluable guidance and connections, and aligning with them early on can prevent a host of issues down the road.“
<h1 id="resources-mentioned-in-the-discussion">Resources mentioned in the discussion:</h1>
Connect with Davide:
<ul>
<li><a href="https://it.linkedin.com/in/davide-scafuro-48b5191a">Linkedin</a></li>
<li><a href="https://orbitaverticale.it/main-home-2/?lang=en">Orbita Verticale</a></li>
<li><a href="https://lumen.ventures/">Lumen Ventures</a></li>
</ul>
<h1 id="want-to-learn-more">Want to learn more?</h1>
If you want to learn more about fundraising rounds, best practices, industry trends, and a snapshot of the venture capital market right now, <a href="https://seedblink.com/newsletter">subscribe to our weekly newsletter. </a>

Dive into Davide Scafuro's insights on equity ownership from an investor's perspective.

Equity management: What VCs pay attention to - with Davide Scafuro

A lot of interesting news to talk about. Scroll down for:
<ul>
<li>Primary Market: active opportunities</li>
<li>Secondary market updates</li>
<li>Investors resources picks </li>
<li>Events we can meet at</li>
</ul>
<h1 id="portfolio-news">Portfolio news</h1>
The Q1 2024 Reports are piling up - some startups already shared their recent results. Check your portfolio&#39;s latest KPIs from your account, and take a look at the news that made it live in April. 
<h1 id="active-opportunities">Active opportunities</h1>
🇩🇪 CLOSING SOON: VC-Backed | LogTech | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D74f4e048d8%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cdf54a088f2ae4d8e64b208dc6d9e5656%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638505774060452725%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=xP7A%2F382ADpNptrWoxWJuNC97ZUCzP6DFUiuM5V0Oys%3D&amp;reserved=0">Paket Concierge</a> is raising €3M to simplify last-mile delivery via Out-of-Home pickup hubs. 
🇺🇸 VC-Backed | MarTech | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D1092c18577%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cdf54a088f2ae4d8e64b208dc6d9e5656%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638505774060465024%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=9GOVg5%2FvIr%2B6foepKkAg60GXmvvQGOoM6zoznGKUTOU%3D&amp;reserved=0">Hunch </a>is raising €1,25M to increase sales through automated marketing &amp; AI. Backed by Catalyst Romania, Euroventures. 
🔒 <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dda0d47941d%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cdf54a088f2ae4d8e64b208dc6d9e5656%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638505774060477636%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=oGx18wI9WjIEIHeIrnULxHf3ka3P5lLmi1EU6rkwqFs%3D&amp;reserved=0">SeedBlink Club</a> members can currently participate in one private round. 
<h1 id="on-the-bulletin-board">On the bulletin board</h1>
Rare, mature, or discounted investments are available on the secondary market. Rearrange, reconfigure, and reload your portfolio. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dfe1a16807a%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cdf54a088f2ae4d8e64b208dc6d9e5656%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638505774060490006%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=ax%2BvR8HrsM%2BZ7xXBK%2FxxLl%2FPp3mcjnKgktofkbXNPfg%3D&amp;reserved=0">Check the Bulletin Board.</a>
<h1 id="investors-resources-pick">Investors resources pick</h1>
Northvolt’s battery breakthrough | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D7c1a6fc3e8%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cdf54a088f2ae4d8e64b208dc6d9e5656%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638505774060502078%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=lW2lB4iBCZtaoavmOF38JLnz6AiaLuO2x8FUlZoq%2FUY%3D&amp;reserved=0">Read more</a>
Building a battery that doesn’t rely on lithium or cobalt is a holy grail for the green transition. European Northvolt developed a battery entirely without any critical minerals in it. 
Tech Investors Academy | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D9f0fc504be%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cdf54a088f2ae4d8e64b208dc6d9e5656%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638505774060513975%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=jHQ%2B%2FHA2e8pXuMR%2BGXk6nrzpLLXyDN5IedLaHlXH7D4%3D&amp;reserved=0">Learn more</a>
A self-paced, four-week online course with a mix of theory, practical case studies, and live sessions aimed at intermediate to advanced investors.
Angel investing insights | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D0b3c16d33c%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cdf54a088f2ae4d8e64b208dc6d9e5656%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638505774060525797%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=dVDpYe9XW9K7JDJAjSwS9RA6H1BVlnLZtPLRn3X0RuQ%3D&amp;reserved=0">Tune in</a>
Mikko, first investor in Bolt, Hugo, and PayMongo, shares his knowledge and wisdom in startup investing. 
We need a European NASDAQ | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D8080159aa8%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cdf54a088f2ae4d8e64b208dc6d9e5656%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638505774060537656%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=DMZEJJ5z68Tg6SYyDebdl%2FoWutcrZoZ4ZUAQ2nzZp1o%3D&amp;reserved=0">Read more</a>
Creating a more tech-centric stock market in Europe should be a priority for policymakers. 
The Road Untraveled | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D6f97af3afd%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cdf54a088f2ae4d8e64b208dc6d9e5656%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638505774060549401%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=lGIxcDVgvQyb7GrguAk22GBhVeRKtIYHciD%2FAYhQt5w%3D&amp;reserved=0">Podcast</a>
Most venture capital firms are stress-testing the technology and hard-hitting questions about what &#39;tomorrow&#39; may look like. Here&#39;s their real-time take. 
<h1 id="lets-network">Let&#39;s network</h1>
🇦🇹 May 8: Austrian Startups Summit 2024 | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Df034d355f4%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cdf54a088f2ae4d8e64b208dc6d9e5656%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638505774060560972%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=IDnhGJKUzScGmQ7m5fow26JTTBOpPZ7ia6rU9y1RY5I%3D&amp;reserved=0">Info
</a>
🇲🇰 May 11: Longest Pitch Marathon, Skopje | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Db84cda9022%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cdf54a088f2ae4d8e64b208dc6d9e5656%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638505774060572636%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=u1oV4HE%2BY0DDwEsgTYHE3ooyI3ufbLr1LAJiWTWs%2BTE%3D&amp;reserved=0">Info
</a>
🇦🇱 May 22: Tirana Tech Open, Tirana | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dd8a992f62f%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cdf54a088f2ae4d8e64b208dc6d9e5656%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638505774060583563%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=3O7mznHQRybrEwwve2SmYVoCab1hvw2%2FHOP8ipJECHk%3D&amp;reserved=0">Info
</a>
🇳🇱 May 28: SuperConnectors Summit, Rotterdam | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D3fb57fdbd7%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cdf54a088f2ae4d8e64b208dc6d9e5656%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638505774060594100%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=8cSKSwb9Us5pGrHOFhdmoxp7oVmjktHg7KiE5M9DRXg%3D&amp;reserved=0">Info
</a>
🇳🇱 May 29-30: Upstream Festival, Rotterdam | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D36cc9eb836%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cdf54a088f2ae4d8e64b208dc6d9e5656%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638505774060604559%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=SgSfCvt%2BJpU75LtBVxAt7V%2BX2dan6lORDAOoHDXWkwc%3D&amp;reserved=0">Info</a>

Here’s a snapshot of the achievements and future visions from the startups we&#39;ve proudly backed: 
<ul>
<li>Alcatraz AI launched Rock X during ISC West 2024 in Las Vegas. </li>
<li>AMSIMCEL announced that they&#39;re showcasing their solution at the NVIDIA GTC AI conference in San Jose, California. More details: <a href="https://amsimcel.com/amsimcel-at-nvidia-gtc-2024/">AMSIMCEL at NVIDIA GTC 2024 </a></li>
<li>Bonapp, FlowX, Kinderpedia, Quarks Interactive, Finqware, are finalists at the ANIS &quot;IT Industry Excellence Awards&quot; 2024. The winners from each of the 8 judged categories will be announced on May 8, 2024, during the event that will conclude the day of debates at the first edition of the ANIS International Summit. </li>
<li>Dronamics hosted the first public exhibition of Black Swan in Sofia. If you&#39;re around, visit them until April 26, at Campus X. </li>
<li>Hunch is raising a new funding round via SeedBlink. </li>
<li>MOCAPP&#39;s Influencer Accelerator program opens its doors for the second edition, starting May 20, 2024. More details: <a href="https://www.iqads.ro/articol/67758/mocapp-iam-2024">MOCAPP IAM 2024 </a></li>
<li>Oveit, the Romanian startup using technology for ticketing and events, is raising a new investment round for expansion in the USA, UK, and EU. More details: <a href="https://start-up.ro/oveit-in-plina-campanie-de-investitie-pentru-extindere-in-sua-uk-si-ue/">Oveit Investment Campaign </a></li>
<li>**Productpine&#39;**s co-founders were listed on the Forbes 30 Under 30 list for 2024 in the Social Impact category. </li>
<li>Swisspod, the hyperloop startup that captured the interest of Richard Branson, is raising a new €7M round to revolutionize global transportation with its high-speed travel solution. More details: <a href="https://investors.seedblink.com/invest/swisspod/246">Swisspod Investment Campaign </a></li>
<li>Synaptiq has completed the Innovation Norway project, enabling them to conduct trials in 12 hospitals. </li>
</ul>
We strongly support building trust and transparency by engaging funded start-ups in discussions around their updates and communicating their business decisions to their investors and our community of tech supporters. 
To support any of our Alumni Portfolio startups with your network, knowledge, or mentorship, please contact us at <a href="mailto:&#105;&#110;&#x76;&#101;&#115;&#x74;&#x6f;&#114;&#115;&#64;&#115;&#101;&#101;&#x64;&#98;&#108;&#x69;&#x6e;&#x6b;&#46;&#x63;&#111;&#x6d;">&#105;&#110;&#x76;&#101;&#115;&#x74;&#x6f;&#114;&#115;&#64;&#115;&#101;&#101;&#x64;&#98;&#108;&#x69;&#x6e;&#x6b;&#46;&#x63;&#111;&#x6d;</a>.

April has set a strong pace for SeedBlink’s Portfolio companies, and we're excited to share their latest milestones. 

April 2024 portfolio companies news 

Today, we are happy to introduce you to Davide for a conversation on all things equity. <a href="https://it.linkedin.com/in/davide-scafuro-48b5191a">Davide Scafuro </a>is the Founder and Managing Partner of Orbita Verticale and Senior Investment Advisor at Lumen Ventures. 
Let&#39;s get to know him better and discover how his investor experience helps him work with founders on <a href="https://www.nimity.com/equity-management?utm_source=Nimity&amp;utm_medium=SB-blog&amp;utm_campaign=interview&amp;utm_term=davide+scafuro">managing equity</a> correctly.
<h1 id="who-is-davide-scafuro--orbita-verticale">Who is Davide Scafuro &amp; Orbita Verticale?</h1>
“I am Davide Scafuro, and I have a rich background in the fashion industry and a passion for entrepreneurship. 
Over the years, I&#39;ve been deeply immersed in the vibrant startup landscape, wearing the hats of both an entrepreneur and an astute investor. The inception of Orbita Verticale was driven by a singular mission - to provide unwavering support to early-stage enterprises, guiding them through the intricacies of equity management and a myriad of other critical facets of their journey to success.
Orbita Verticale is an early-stage venture capital firm that focuses on investing in innovative startups, primarily in the technology sector. The fund provides financial support, strategic guidance, and mentorship to help startups grow and succeed.”
<h1 id="davides-view-on-how-to-manage-your-cap-table--equity">Davide’s view on how to manage your cap table &amp; equity.</h1>
Davide has a strong foundation in the marketing and fashion industry. 
He has gone through diverse roles, from the complex venture capital world to taking the bold entrepreneurial lead and founding startups.
This journey allowed him to nurture a profound understanding of startups&#39; myriad challenges and opportunities, particularly about the art of effective equity management. 
“Through firsthand experience, I&#39;ve come to recognize the importance of founders possessing a crystal-clear comprehension of their ownership structure.
My professional journey has equipped me with a profound grasp of startups&#39; managerial and operational dimensions. This experience enables me to connect with founders on a deeper level and offer them pragmatic advice. 
I&#39;ve realized that success in this space is not solely about funding but also about providing mentorship and imparting valuable insights to empower founders in making well-informed decisions regarding their equity management.”
Davide works actively with startup founders on equity management, so we asked him what this looks like daily.
“We work closely with startup founders to address equity management issues on an ongoing basis. It&#39;s a crucial part of our investment process. 
We understand that how equity is distributed, how the cap table is managed, and related matters are fundamental to a startup&#39;s long-term success. We are dedicated to helping founders tackle these challenges effectively.”
Furthermore, we wanted to learn from Davide the role of a cap table in his investment thesis and his recommendations for startup founders.
“The cap table structure is undeniably a pivotal element in our evaluation, although it&#39;s not the sole determinant. We also analyze factors such as market potential, team proficiency, and various facets of the business. 
Nonetheless, an excessively convoluted or unfavorable cap table can raise concerns, potentially signifying governance and alignment issues among stakeholders. Striking a harmonious balance is crucial, as it&#39;s imperative that the cap table aligns with and bolsters the company&#39;s long-term objectives.”
More flexibility from investors to improve cap tables at an early stage.
“The company&#39;s stage does play a role in shaping our tolerance for cap table issues to a certain extent. There is typically more room for flexibility in making adjustments and corrections in the early stages. 
However, as the company matures, the cap table should transition into a more stable structure with reduced susceptibility to changes. We tend to be more accommodating of cap table issues in early-stage startups, understanding that they may require time for resolution as the company evolves. 
Furthermore, ensuring that the team, including founders and key employees, holds an equitable share of the equity to maintain a strong alignment with the company&#39;s goals is of utmost importance.”
Broken cap tables come with challenges, and investors must know how to address them.
“Investing in a company with a significantly disrupted cap table would pose challenges. A disordered cap table can signal past mismanagement and even legal entanglements. 
However, we would thoroughly evaluate the unique circumstances, considering whether the founders proactively addressed the issue. While other positive factors may partially offset the problem, it remains a substantial concern. 
In such cases, we might explore the possibility of secondary transactions, although, particularly in the early stages, prioritizing the allocation of funds for the company&#39;s growth is often the most prudent approach.”
Cap table red flags for investors:
<ul>
<li>Losing control of your startup before reaching the Series A funding round.</li>
<li>Not establishing a clear ESOP early on. </li>
</ul>
“It&#39;s important to carefully manage equity distribution to retain influence and provide incentives to crucial team members.”
<h1 id="getting-expert-help-on-esops">Getting expert help on ESOPs</h1>
Awareness of<a href="https://www.nimity.com/employee-stock-options?utm_source=Nimity&amp;utm_medium=SB-blog&amp;utm_campaign=interview&amp;utm_term=davide+scafuro"> ESOP plans</a> and cap table management differs from one startup ecosystem to another. Here is how this looks like in Austria through Davide’s lens: 
“It&#39;s crucial for founders to proactively educate themselves on these subjects and seek counsel from seasoned advisors or mentors. 
Local startup associations, legal experts, and venture capital firms like Orbita Verticale can serve as valuable sources of resources and insights to aid Austrian startups in crafting more robust cap tables and implementing effective ESOP programs. 
Building a strong network and leveraging the expertise of experienced professionals can play a pivotal role in enhancing the aspects of startup management.”
<h1 id="best-practices-in-equity-management-from-davide">Best practices in equity management from Davide</h1>
Before diving into Davide&#39;s direct recommendations for startups and how to manage their equity, he wanted to highlight the importance of equity ownership for European founders.
“Clarity in ownership is crucial when assessing an investment opportunity. It provides transparency and ensures that all stakeholders are on the same page. 
Lack of clarity can lead to disputes and complications down the road, potentially jeopardizing the success of the investment.”
Clear vesting schedules.
“One effective best practice is establishing transparent vesting schedules for founders and early employees. 
This ensures that their interests are aligned with the company&#39;s long-term success. I&#39;ve had experience with a startup that implemented a well-structured vesting schedule, which played a pivotal role in securing the commitment of key team members to the company&#39;s growth over the years. 
Furthermore, it&#39;s worth mentioning that we always use good and bad leaver clauses for founders to address various exit scenarios.”
Strategic fundraising.
“In my opinion, a strategic approach to fundraising is key to avoiding future problems. It&#39;s not just about raising capital for the round; it&#39;s about finding the right investors to support the company&#39;s growth. 
Strategic investors can provide invaluable guidance and connections, and aligning with them early on can prevent a host of issues down the road.“
<h1 id="resources-mentioned-in-the-discussion">Resources mentioned in the discussion:</h1>
Connect with Davide:
<ul>
<li><a href="https://it.linkedin.com/in/davide-scafuro-48b5191a">Linkedin</a></li>
<li><a href="https://orbitaverticale.it/main-home-2/?lang=en">Orbita Verticale</a></li>
<li><a href="https://lumen.ventures/">Lumen Ventures</a></li>
</ul>
<h1 id="want-to-learn-more">Want to learn more?</h1>
If you want to learn more about fundraising rounds, best practices, industry trends, and a snapshot of the venture capital market right now<a href="https://seedblink.com/newsletter">, subscribe to our weekly newsletter. </a>

Equity management: What VCs pay attention to - with Davide Scafuro.

Swisspod, co-founded by 2 multiple award-winners of the SpaceX Hyperloop Competition — Denis Tudor, CEO, and Cyril Dénéréaz, CTO, stands at the forefront of transportation. They ventured into hyperloop technology development following an insightful conversation with industry titan Elon Musk himself, and their groundbreaking achievements garnered attention from forward thinkers, including Sir Richard Branson. Denis Tudor&#39;s track record in electrical engineering and hyperloop systems, and Cyril Dénéréaz&#39;s technical prowess, form the backbone of Swisspod&#39;s ambitious vision.
Swisspod is leading experimentation and research in high-speed transportation systems, supporting of the Distributed Electrical Systems Laboratory (DESL) at EPFL. The company built Europe&#39;s first operational hyperloop testing facility, in Switzerland, and started the construction of a second hyperloop testing facility in Colorado, USA, marking a significant milestone in the realization of their vision.
1. What ‘aha’ moment led to the founding of Swisspod?
That &#39;aha&#39; moment was winning the SpaceX Hyperloop Competition in 2018 and the conversation we had with Elon Musk. That year, we landed first place for our innovative capsule design focused on safety and third place for speed. We realized the potential of our ideas and how they could revolutionize transportation as we know it, reshaping every aspect of our lives. It was time to take the prototypes out of the lab and into the real world. Because the spirit of innovation is about ensuring that what you create leaves a positive mark on the future.
2. What was your drive back then, and what change did you aim to make?
Both me and Cyril are engineers at the core, so we kickstarted Swisspod driven by our passion for technology and innovation. We were determined to tackle the complex challenges of developing a high-speed transportation system that not only surpasses existing standards, but redefines efficiency, sustainability, and safety. Plus, we knew we were in for an exciting and fun ride.
Beyond the thrill of solving technical puzzles, our moonshot mission was to revolutionize how people travel, connect, work, and live. Hyperloop is our ticket to a future where distance no longer defines our bonds or opportunities – where speed, convenience, and environmental responsibility are the norm.
3. How do you plan to sell Swisspod&#39;s hyperloop technology?
Our approach to selling our hyperloop technology centers on two main pillars. The first is selling our hyperloop capsules directly, as a turnkey solution for organizations seeking to deploy advanced high-speed transportation systems. The second is by forging partnerships with infrastructure makers exploring new markets and innovative transportation solutions.
4. How do you envision Swisspod&#39;s future growth?
Taking our technology worldwide, and revolutionizing industries, empowering businesses, and improving lives worldwide. Growth is just a part of our journey; the heart of our mission lies in driving meaningful change worldwide through progress and innovation.
5. What&#39;s the ideal customer profile of Swisspod?
Our ideal customers are governments and transportation operators. Governments can greenlight major infrastructure projects such as Hyperloop, while transportation operators will need reliable vehicles for running their Hyperloop networks.
6. What&#39;s the ideal investor profile of Swisspod?
We&#39;re looking for investors who play the long game, ideally institutional partners, willing to commit to a journey that may span even a decade. They understand that groundbreaking technologies, like hyperloop, take time to mature and monetize. With their support, we can revolutionize the industry and deliver substantial long-term value.
7. Do you have a mentor or figure whom you admire and draw inspiration from?
Elon Musk is a huge source of inspiration for me. He takes ambitious ideas and makes them happen, and has a strong commitment to tackling some of the world&#39;s most pressing challenges head-on. Elon Musk is the only entrepreneur with a track record of success in tough tech industries, from sustainable energy to space exploration. He is proof that with hard work and vision, anything is possible.
8. Why should investors consider being part of Swisspod&#39;s journey?
We&#39;re leading the path with top-notch technology and a viable, promising approach to bringing Hyperloop to the market. Our real-world progress proves it — we&#39;re making things happen! And we&#39;ve got the best, most skilled team driving this forward. Investing in Swisspod is more than envisioning a thriving future, it’s about being part of history in the making.
<a href="https://investors.seedblink.com/invest/swisspod/246?utm_campaign=investor-24-q2-organic&amp;utm_medium=email-marketing&amp;utm_source=nl-seedblink&amp;utm_content=swisspod&amp;utm_term=null">Explore the opportunity on SeedBlink.</a>

Hyperloop can soon become a reality - learn more from one of its key innovators.

The ultra-fast transportation of the future, shaped by Denis Tudor, co-founder of Swisspod

Catalina, a seasoned professional with over 12 years of experience in delivering IT and technology services across various industries such as logistics, telecommunications, and mining, has a fervent passion for learning and exploration. Despite her educational background in European studies and international relations, Catalina found herself immersed in IT service operations early on in her career.
Driven by an insatiable curiosity and a desire to broaden her understanding of business operations, Catalina embarked on an executive business administration program. This endeavor aimed to augment her existing knowledge and equip her with a more comprehensive perspective on the intricacies of running businesses.
While Catalina&#39;s journey into investing began several years ago, her foray into the world of tech start-ups is a more recent development, spanning just a couple of years. Eager to delve deeper into this burgeoning ecosystem, she eagerly joined the SeedBlink community upon discovering it. Catalina&#39;s diverse professional background and relentless pursuit of knowledge position her as a valuable asset in the realm of tech start-up investment.
1. What is your biggest personal satisfaction since joining our community of startup investors? 
Being part of the SeedBlink community opened a new universe for me, as I could have access to like-minded and curious people to learn and contribute to the creation of future products and companies that should improve our world. 
2. How would you describe our community and to what extent do you feel it generates value for you? 
The knowledge available within the community, the easy access to a wide range of start-up options, and the fact that the platform offers a smooth way to start as a beginner in start-up investments made me join the community.
As a SeedBlink community member you can exponentially expand your knowledge about start-up ecosystems, learn from people with broader experience, and be able to get access to a curated list of start-ups, from where you can choose by doing your due diligence. 
3. What does investing mean to you? 
I think in the world of today it is important to contribute and support solutions that we need for those problems we face as individuals and society. I believe investing in start-ups is a great way to do so, even if sometimes it is just to test, try, and fail because even from those situations we can learn how we could do it better next time. 
4. What motivates you to invest in startups? 
I think the main motivator is contributing and supporting those people and companies trying to improve our day-to-day ecosystem, from the communities we live in, to the country we are part of, and why not even further. 
I would encourage everyone to do it. Investing in start-ups brings a lot of value through learning new technologies, and new ways of doing or improving things and services around us, therefore keeping your brain ‘young’ through continuous learning and as an individual, you remain up to date with the latest technology and business changes.
5. How would you describe your investor profile? 
I like to consider myself a balanced one, I have parts of my portfolio where I am taking risks, but also parts of it, which are more contained in terms of risk-taking. 
It is important to have a strong why on why I am taking a certain investment decision and what is the time horizon when looking at the outcome of the investment. 
6. When did you start investing in startups and what does your portfolio look like?  
I am calling myself a ‘rookie’ investor in the start-up landscape, as until now I have made only a few investments, in areas such as process digitalization, security, and transport. I am not following a specific industry, but there are some common points when deciding to invest -- what technology is used, what is it solving, who is the team behind and what are its societal implications. 
7. What are the most important aspects for you when evaluating a startup? 
There are some core elements that I look at: 
<ul>
<li>why the start-up was born (is it purely profit-driven or is there some kind of other trigger behind it), why the team behind came together to build a company, </li>
<li>who is the team behind (expertise, years in the industry, team dynamics/cohesion, etc.), </li>
<li>what is the vision for medium to long-term </li>
<li>how is the business operating (model, sustainability, scalability, etc.) </li>
</ul>
8. How much and in what ways do you choose to get involved in a startup&#39;s post-investment evolution? 
Up until now, I was not involved in their evolution, apart from following their performance and results. Though coming next, I am looking to get actively involved and support the start-ups with my expertise (if of help) or any guidance they might need. 
Though, here I am usually a cautious profile, as sometimes there is a need for a proper balance on how much an investor might get too involved and not allowing ‘space’ for the founder(s) and their team to move forward with the vision. 
All in all, I strongly believe it is important to get involved in the evolution of a start-up, though it needs to bring value and facilitate solutions, not create additional burdens and work. 
9. What has been one of the best or most impactful investments you&#39;ve made so far? 
The best investment made was in my personal development and professional growth and I assume this will remain the most impactful one. 
10. What lessons have you learned from your early investment experiences? 
I tended to jump quickly into the areas I thought I knew, looking only at the technology used, without looking too much at the industry to which is applied. 
Therefore, core lessons are to learn, search, research, and expose yourself to as much as possible; meet start-up founders (face to face, if possible, as it gives extremely valuable insights into the human dynamics of the company), do your research on the start-up and the industry they activate, ask questions, build a network of people with whom you can discuss and try to connect the dots by building thinking systems (it will ease the decision making process).

"Investing in start-ups brings a lot of value through learning new technologies, new ways of doing or improving things and services around us."

Investor Profile: Catalina Nicolae

A lot of interesting news to talk about. Scroll down for:
<ul>
<li>Primary Market: active opportunities</li>
<li>Secondary market updates</li>
<li>Investors resources picks </li>
<li>Events we can meet at</li>
</ul>
<h1 id="portfolio-news">Portfolio news</h1>
<ul>
<li>The first public exhibition of Dronamics Black Swan takes place in Sofia. If you&#39;re around, visit them until April 26, at Campus X.</li>
<li>MOCAPP announces a new Influencer Accelerator edition, focusing on education and mentoring for content creators. </li>
</ul>
<h1 id="active-opportunities">Active opportunities</h1>
🇨🇭 Syndicate | Transportation | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D9305f21005%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C37d79095cbf846c6fc2908dc6299d31a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638493660047934141%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=GszBtYs5geswG0joFsYi8TIO4qNLGxzTTB0NLqoLKyk%3D&amp;reserved=0">Swisspod </a>is raising €1,6M to develop the hyperloop, a high-speed transport system. 
🇺🇸 VC-Backed | MarTech | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3De7b82cd84f%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C37d79095cbf846c6fc2908dc6299d31a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638493660047950948%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=zfTvYsLRwe6vFXKAaUq%2FZx06gimC6wyb8f%2BWur0ozOA%3D&amp;reserved=0">Hunch </a>is raising €1,25M to increase sales through automated marketing &amp; AI. Backed by Catalyst Romania, Euroventures. 
🇩🇪 VC-Backed | HealthTech | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dca76e008a2%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C37d79095cbf846c6fc2908dc6299d31a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638493660047964848%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=9%2BUh8z4FePbP%2BTBI4mtPMufEAJ8SEAUjPmlqyzlcz4Y%3D&amp;reserved=0">MindAhead </a>is raising €1M to scale its digital therapy solutions that slow the progression of dementia. 
🔒 <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D5dd392b738%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C37d79095cbf846c6fc2908dc6299d31a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638493660047975614%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=1SkfJ9C4RvX1hrYdnbABIk0yDSPQVbXL3fMPgVhGtyE%3D&amp;reserved=0">SeedBlink Club</a> members can currently participate in one private round. 
<h1 id="check-the-bulletin-board">Check the bulletin board</h1>
The Secondary Market is a full-fledged ecosystem where: 
<ul>
<li>You can sell shares early for liquidity when it suits your strategy. </li>
<li>Missed out on an investment? Post a buy request and let sellers find you. </li>
<li>Set your own exit timelines without the usual long wait. </li>
<li><a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Def5a12d2c4%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C37d79095cbf846c6fc2908dc6299d31a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638493660047986613%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=Uz2y6vgMumDIrqHITlwfyhdHSNDHopkDHvKpDyAYAz0%3D&amp;reserved=0">Check the Bulletin Board.</a></li>
</ul>
<h1 id="investors-resources-pick">Investors resources pick</h1>
Signs of life | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D5c977a1d8f%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C37d79095cbf846c6fc2908dc6299d31a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638493660047996649%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=4%2FyuSdQqtLhbnwHNe3ULiCZD%2FtYXES6%2B%2F3BDghNaN9I%3D&amp;reserved=0">Must watch</a>
CB Insights examines last year&#39;s disastrous venture funding year, Q1&#39;s biggest market changes, resilient sectors, and more. Get up to speed. 
Meet the Climate Brick | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3De52f550459%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C37d79095cbf846c6fc2908dc6299d31a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638493660048014740%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=lo5T1%2FoHlBNkn0Qd2jivqzNyD99tDUrG3jWJonfYRrQ%3D&amp;reserved=0">Read more</a>
With a record 43% of global climate tech venture capital investments being deployed into Europe in 2023, the parties involved now see this as a perfect time to launch such an initiative. 
Sustainable FoodTech marketplace | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dd1fb4abb07%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C37d79095cbf846c6fc2908dc6299d31a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638493660048025579%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=us9Lcri7w%2BStRrRVjGHApS0brfRvoNuga%2FVc9oJWJU4%3D&amp;reserved=0">Read more</a>
Honest &amp; Rare is a platform that connects thousands of small producers with discerning customers seeking authentic and distinctive flavors.
7 investment trends | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D00d52e153f%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C37d79095cbf846c6fc2908dc6299d31a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638493660048035463%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=6QorGDuobFQCKyUTTgqhMJ1VNYhhbmO%2FYLLD1bzdbM8%3D&amp;reserved=0">Read more</a>
Explore 2024&#39;s top 7 investment trends, from fundraising dynamics to evolving venture capital landscapes, and gain key insights into the future of finance. 
<h1 id="lets-network">Let&#39;s network</h1>
🇷🇴 Apr 23-25: CEE Business Summit, Bucharest | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D6fcf0a73cc%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C37d79095cbf846c6fc2908dc6299d31a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638493660048045570%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=%2Bg8dzEVP1aL4iKtjo9F9tenc6DvuDh5fsegNFEAHu2I%3D&amp;reserved=0">Info</a>
🇦🇹 May 8: Austrian Startups Summit 2024 | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D947850487f%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C37d79095cbf846c6fc2908dc6299d31a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638493660048055335%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=YJb%2FMoconjt52mSyxlM5P2Z5ev7eU9OHeDW7oJmWQA4%3D&amp;reserved=0">Info</a>
🇲🇰 May 11: Longest Pitch Marathon, Skopje |<a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Debd346feed%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C37d79095cbf846c6fc2908dc6299d31a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638493660048064749%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=si083rrmFvNsicRnUWRxjbr%2FJhkSWVAZK5yOfm3%2FS8U%3D&amp;reserved=0"> Info</a>
🇦🇱 May 22: Tirana Tech Open, Tirana | Info
🇳🇱 May 28: SuperConnectors Summit, Rotterdam | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Da3dbe02014%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C37d79095cbf846c6fc2908dc6299d31a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638493660048082326%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=QbdlghWMszjuMg%2BBPtlRJkUm2pPlUHg8EBT8p0Pf5pU%3D&amp;reserved=0">Info</a>
🇳🇱 May 29-30: Upstream Festival, Rotterdam | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dd6c9eef2fc%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C37d79095cbf846c6fc2908dc6299d31a%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638493660048090835%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=D6HZ9ZhWP%2F22tUk%2BzsKgEoMfA5lWpW4Dl4kFmdGItLk%3D&amp;reserved=0">Info</a>

Ball is life, but so is financial security! Learn why athletes like Jason Esseboom are trading jerseys for investments.

Why athletes become investors. A conversation with Jason Esseboom

As we march into 2024, having already navigated through the initial months, it&#39;s an opportune moment to assess the evolving dynamics of the fundraising and investment market. 
Despite the year being underway, understanding the trends and predictions for the remainder of 2024 remains crucial for stakeholders across the globe, particularly in Europe. With this in mind, we&#39;ve delved into an in-depth analysis to forecast the key movements and opportunities in the financial landscape. Here&#39;s what we&#39;ve discovered.
<h1 id="a-stable-positive-sentiment">A stable positive sentiment.</h1>
The<a href="https://stateofeuropeantech.com/"> latest State of Tech Survey</a> shows a notable trend: 89% of venture capitalists worldwide and 87% of those in Europe expect more deal activity in 2024 than in 2023. 
“_As we approach 2024, we expect both inflation data and economic demand to soften as the tailwinds for growth and risk markets are fading. Overall, we are cautious about the performance of risky assets and the broader macro outlook over the next 12 months due to building monetary headwinds, geopolitical risks, and expensive asset valuations._” 
Says Marko Kolanovic,<a href="https://www.jpmorgan.com/insights/global-research/outlook/market-outlook?fbclid=IwAR2TRN1seXMvJvXga6us9D9DUScyyD8fJkAyfnMplmdFqbyPjgjhOpSwsQA#section-header%230"> Chief Global Markets Strategist at J.P. Morgan</a>.
A brighter future is also expected if we look more closely at ourselves in Europe. Here, the startup ecosystem is home to around 3,900 tech companies at the growth stage aiming to become global leaders. This number is expected to double over the next five years. 
As we move into 2024, the European investment landscape shows promising signs. The diversity and growth of active European investors are notable, with a steadfast dedication to investing across various market phases. 
These domestic investors, who contribute to 79% of the total early-stage funding for European startups, have become the cornerstone of our startup environment. Their consistent investment over the last five quarters, particularly at the early stages, provides a stable foundation for new entrepreneurs embarking on their ventures.
“Seizing these opportunities in 2024 is unpinned by investor capacity, upskilling and attracting world-class talent, and maintaining a long-term view around risk and value creation.”
Says Simon Bumfrey, <a href="https://stateofeuropeantech.com/">Head of Relationship Banking, HSBC Innovation Banking UK.</a>
<img src="/img/screenshot-2023-12-22-142629.png" alt="">
Source: <a href="https://stateofeuropeantech.com/">State of Tech 2023</a>
This is a considerable change from the previous year when just 66% of European investors foresaw an improvement in deal-making. Despite this positive forecast, there are still underlying worries about issues like reduced exit opportunities, unfavorable venture capital returns, and the ongoing tendency of US investors to pull back from the European market.
“In terms of the pace of deployment, we find the current climate attractive. We deployed rather slowly in 2021, kept it steady in 2022, accelerated in 2023, and expect to accelerate again in 2024.”
Says George Easley from <a href="https://techcrunch.com/2023/12/28/40-investor-predictions-for-2024/">Outsiders Fund for TechCrunch.</a>
The investor landscape has reached unprecedented depths, especially for those concentrating solely on Europe. There has been a steady increase in the number of distinct investors in the European tech sector over the last ten years. 
Since 2021, venture capitalists have amassed over $50 billion in new regional funds.
<h1 id="the-rise-of-female-founders--female-investors">The rise of female founders &amp; female investors.</h1>
There is a steady increase in female GPs and female founders across the European ecosystem, particularly at the early stage. 
Currently, venture capital teams with a high number of women are outperforming their male-only counterparts. According to the <a href="https://www.europeanwomenvc.org/">European Women in VC&#39;s</a> recent report, these teams excel by 9.3% points. This finding is a powerful testament to the benefits of gender diversity in decision-making within the VC sector.
<img src="/img/screenshot-2024-03-11-161848.png" alt="">
Source:<a href="https://www.europeanwomenvc.org/"> European Women in VC 2023 Report</a>
The outlook for female leadership in VC is optimistic. 
Nearly half of the survey respondents anticipate an increase in female GPs in the next five years, with 14% expecting significant growth. This trend points to a future where women play a more prominent role in guiding the direction of European venture capital. 
<img src="/img/screenshot-2024-03-11-161941.png" alt="">
Source: <a href="https://www.europeanwomenvc.org/">European Women in VC 2023 Report</a>
This shift is also highlighted by <a href="https://sifted.eu/articles/vc-predictions-2024">Sophia Bendz from Cherry Ventures and Ekaterina Almasque of OpenOcean</a> who observe a clear increase in female founders across the European ecosystem, particularly at the early stage. 
<h1 id="the-rise-of-defense-tech">The rise of defense tech.</h1>
Before Russia stepped into Ukraine, Europe was already dialing up its defense tech game. 
A lot of venture capital and tech companies in Europe stayed on the sidelines, missing a golden opportunity to jump into a field ripe with both strategic importance and potential profits. This hesitation has left a significant gap in the market, particularly when investing in companies that deal with defense and dual-use technologies. 
<img src="/img/screenshot-2024-04-17-100959.png" alt="">
Source: <a href="https://www.eu.vc/p/on-the-rise-of-defence-tech-with?utm_campaign=post">On The Rise of Defence Tech with Nicholas Nelson </a>
According to <a href="https://www.eu.vc/p/on-the-rise-of-defence-tech-with?utm_campaign=post">Nicholas Nelson, the General Partner of MD One Ventures</a> and one of the most active players in European defense tech, European defense tech companies are valued much less than their American counterparts. About 42% lower on average. This valuation gap reveals a big chance for investors to step in and make a difference. 
Meanwhile, defense spending in Europe has been on the rise, driven by a collective realization among EU countries that being able to stand independently on the global stage is crucial. This increase in spending is narrowing the gap with the U.S., particularly among NATO members, showcasing Europe&#39;s growing commitment to strengthening its defense capabilities.
<h1 id="investors-expect-more-deals-coming-in">Investors expect more deals coming in.</h1>
Investors are showing renewed optimism for 2024, with a significant shift in deal expectations. 
Compared to the previous year, where only 69% of investors expected to maintain or reduce their deal activities, now 89% are forecasting the same number or an increase in deals for 2024, as mentioned in a <a href="https://www.affinity.co/report/affinity-investment-predictions-report">survey by Affinity.</a>
<h1 id="ma-predictions-for-2024">M&amp;A predictions for 2024</h1>
CB Insights has analyzed the financial movements behind the scenes and has identified ten deals that could be <a href="https://www.cbinsights.com/research/2024-tech-acquisitions/">on the horizon for an acquisition this year</a>, and we see some interesting names coming out, such as a bold one: Shopify acquiring Stripe.
In Europe, the M&amp;A landscape wants to look hopeful but looks unsure in some areas. <a href="https://www.nortonrosefulbright.com/en/knowledge/publications/4eece7c4/m-a-outlook-2024">According to Norton Rose Fulbright</a>, 6 out of 10 companies want to buy more companies than in 2023. Some of them are eager, thinking they’ll do a lot more, mentioning that most are planning to do it through already saved-up money. 
The hottest bets right now are on artificial intelligence, and this industry is expected to get even more attention with further technological developments. Another important point is that rules and regulations, especially those that prevent companies from having too much control over the market, are big concerns.
It&#39;s a complex scene with lots of moving parts, but it&#39;s certainly interesting to watch how things will unfold.
<h1 id="down-rounds-will-continue-to-rise">Down rounds will continue to rise</h1>
<img src="/img/screenshot-2024-03-11-162135.png" alt="">
Source: <a href="https://endeavor.org/stories/theres-nothing-wrong-with-a-down-round/">There is nothing wrong with a down-round</a>
The estimated percentage of <a href="https://endeavor.org/stories/theres-nothing-wrong-with-a-down-round/">down rounds reached a 10-year high</a> of 17% in Q3 2023, up from just 5% in 2021. This trend has been steadily increasing over several quarters.
<img src="/img/screenshot-2024-04-17-101335.png" alt="">
Source: <a href="https://files.pitchbook.com/website/files/pdf/Q3_2023_US_VC_Valuations_Report.pdf">Q3 2023 US VC Valuations Report</a>
Despite efforts, cash reserves have their limits. Many companies are expected to enter the market in 2024, potentially facing flat or down rounds due to their high valuations from 2021/2022.
<h1 id="going-beyond-the-hype-with-ai">Going beyond the hype with AI.</h1>
Companies are now fighting with the practical challenges of implementing generative AI, such as large language models. 
These challenges encompass complex data handling, substantial computing costs, and adapting to new legislation – notably, the recent adoption of the<a href="https://sifted.eu/articles/european-ai-regulation-startups"> AI Act by the European Union</a>. The significant expenses and complexities involved in developing competitive foundational large language models will likely continue benefiting major players in the field, such as Microsoft, OpenAI, Google, and Meta. This trend of dominant incumbents is a familiar scenario in the technology sector.
For startups, competing with established giants is a common hurdle. Regardless of the industry or location, the key to a startup&#39;s success is in creating and delivering products that effectively address real-world issues on a large scale. 
<img src="/img/screenshot-2024-04-17-101450.png" alt="">
Source: <a href="https://www.affinity.co/report/affinity-investment-predictions-report">Private Capital Investment Predictions Report 2024 Edition</a>
AI is currently at a pivotal juncture, presenting a prime opportunity for breakthrough innovation and market application.
<h1 id="building-a-business-will-become-easier-in-2024">Building a business will become easier in 2024.</h1>
The downturn might continue, but AI advancements will make building businesses easier in 2024 and could lead to more efficient startups, as we<a href="https://www.antler.co/blog/antler-partner-predictions-2024#europe"> find out from Antler. </a>
For founders, the primary challenges will remain in product and team development and selling unique ideas. Founders must demonstrate in-depth knowledge and a profitable business model to attract VC interest. Capital will be a major challenge, particularly for companies that have previously raised significant funds.
&quot;There will be more innovation and, subsequently, opportunities for entrepreneurs. This means it will be easier to build in 2024.&quot; 
Says <a href="https://www.antler.co/blog/antler-partner-predictions-2024#europe">Alan Poensegen, Partner at Antler.</a>
Join our community of like-minded investors to align your thesis to these trends, build a diversified portfolio alongside reputable VCs and angel investors, and access public and private deals handpicked for you.
<a href="https://seedblink.com/investors?utm_source=SeedBlink&amp;utm_medium=SB-blog&amp;utm_campaign=investment+trends&amp;utm_term=2024+predictions">Start investing today.</a>

Explore 2024's top 7 investment trends, from fundraising dynamics to evolving venture capital landscapes, and gain key insights into the future of finance.

7 startup investment predictions for 2024

Yascha Roshani, CEO and Founder of Honest &amp; Rare brings together his entrepreneurial spirit and passion for quality to create an online marketplace for non-mainstream food and drinks. After graduating from the startup accelerator program at Founder Institute, Yascha launched Honest &amp; Rare, offering customers across Europe access to craft beverages and specialty foods directly from independent producers and merchants. 
Honest &amp; Rare is a platform that connects thousands of small craft drink producers with discerning customers seeking authentic and distinctive flavors. From beer to wine, coffee, and soft drinks, Honest &amp; Rare showcases the full breadth of the beverage landscape, empowering both producers and consumers alike.
1. What ‘aha’ moment led to the founding of Honest &amp; Rare?
Long time back in 2013 I got into making cocktails. Before going to the first Spirit specialty store, I had no idea how many different styles and products exist. I was used to the assortment of supermarkets. Soon after starting to brew my beer, make liquors, and roast coffee at home, I also got fascinated by the concept of online platforms where you facilitate supply and demand of something that already has a lot of supply and demand. It struck me that there is no online marketplace that does the same for food and drinks, like for fashion, furniture, electronics, hotels and so many more. So, we had to change that.
2. What’s the story behind the name? Very cool, by the way. 
The world is being overloaded by mass production and profit-hunting in all forms. From food, drinks, fashion, houses, even to films and series nowadays. The more and cheaper, the better. Everybody can see, feel, and observe how quality is suffering. Luckily, we have a growing trend towards quality, sustainability, ecology, “bio”, vegan, and so on. All the products and the producers behind the products on our platform do reflect these attributes. Honest because there are actual people behind the products. Putting in their ideas, passion, and mostly bare hands into creating those delights. Caring about where the ingredients come from and feeling responsible for their customers. Rare because they are all small-batch products that customers cannot find in every grocery store.
3. What was your drive back then? What change did you want to make?
I wanted and want to support what matters most about eating and drinking: quality and variety. Everyone enjoys discovering new tastes and specialties when traveling and going to restaurants or delicacies stores. But around 80% of food and drink purchases are made in supermarkets where you get the same products all the time. I personally increasingly got mine from small and regional producers. However, it is hard and annoying to always have to drive far. And well, the internet allows you to conveniently discover everything the food &amp; drink landscape has to offer and have it delivered to you. We are still at the beginning of specialty marketplaces. We are making the change of the first online marketplace for non-mainstream food &amp; drinks.
4. How does Honest &amp; Rare&#39;s platform significantly contribute to promoting small-batch specialty drinks and supporting independent producers?
Everyone has their strengths. Food and drink producers are there to produce food and drinks. When you think of any normal company, you’d think of a department or person responsible for “sales and marketing”. Small producers usually don’t have that. Additionally, they might lack the financial resources and expertise to navigate through the various options and changing dynamics of selling online. Thus, Honest &amp; Rare is a great solution for local, independent producers to sell their products online – not only to offer their products online where no one would find them but also to be found by customers in their target audience. Shop solutions and online marketing are what we do for the products on Honest &amp; Rare. This way we promote the entire segment of small-batch specialty food and drinks by acquiring new customers and offering Honest &amp; Rare as a convenient alternative for them to discover great tastes apart from the brands everyone knows.
5. How do you scale your business, driving financial success?
Inventory is one key to success for marketplaces. We also see a high correlation between the number of products and sales. We focus on onboarding new sellers and products and facilitating the speed of scaling our offering. For this reason, our main strategic project in 2023 was to expand from drinks to food and drinks; our milestone for this year is to internationalize to be able to scale our portfolio even faster. It’s hard for producers to sell to foreign countries due to tax and customs regulations. Due to our volume and technical expertise, we can enable our sellers to do so. Furthermore, we have a very efficient marketing approach and use organic channels next to paid marketing due to its financial sustainability. For example, SEO is an important channel for us, and we have a high visibility in our industry. Finally, we believe in shopping quality. For this reason, we emphasize our efforts to be the best place to find and buy food and beverages. Both in terms of hygiene factors like website speed, but also shopping convenience like having the most granular filter options or being able to shop by taste.
6. What are potential exit scenarios for investors supporting Honest &amp; Rare?
The food and drinks industry is one of the biggest industries worldwide, with many big multinational players. Exiting Honest &amp; Rare to one of those players is a very tangible scenario. While the online food market is still rather low with below 5% in most markets and mostly concentrated on specialty goods, this share is growing rapidly every year. Eventually established food brands will need to access online distribution channels as well as gain expertise, online sales technologies, and customer data.
7. How do you envision the company&#39;s future growth within the craft food and beverage industry?
We are already the biggest online address for specialty food and drinks. Our vision is to become Europe’s main supermarket for everything non-mainstream. We want to enable customers in all European Union countries to discover and buy products from across the continent. This entails allowing producers from all over Europe to offer their products online and ship them to customers who cherish their craft. We have the perfect team setup, the technical expertise as well as the food and drinks expertise to become the biggest and best place to enjoy food and beverage shopping.
8. Do you have a mentor or person you admire in the food or tech industry?
We see so many new brands and products every week, and I honestly admire the creativity and dedication of everyone in the market. It seems like the options to come up with new recipes, creative styles, names, and product designs are endless. In our team, we always wish we could try all of them. But we exceeded the 10,000 products milestone recently, so it looks like this will remain a fantasy.
9. Why should investors consider being part of Honest &amp; Rare&#39;s journey?
Food and drinks is the biggest consumer market in Europe and there is yet no online marketplace connecting customers with products. Just like people got used to buying their t-shirts and TVs online, they will increasingly use their phones and computers to buy their food and beverages online. We have developed a complete technical solution together with a strong brand and positioning, particularly for non-mainstream brands and products which will allow us to become a major player in the industry. Our investors will be part of the establishment of Europe’s biggest and best place for discovering food and drinks.
<a href="https://investors.seedblink.com/invest/honest-rare/239?utm_campaign=investor-24-q2-organic&amp;utm_medium=blog-sb&amp;utm_source=seedblink&amp;utm_content=honestrare&amp;utm_term=null">Explore the opportunity on SeedBlink.</a>

Honest & Rare is a platform that connects thousands of small producers with discerning customers seeking authentic and distinctive flavors.

Building a sustainable FoodTech marketplace: in conversation with Yascha Roshani, CEO of Honest & Rare

A lot of interesting news to talk about. Scroll down for:
<ul>
<li>Primary Market: active opportunities</li>
<li>Secondary market updates</li>
<li>Investors resources picks </li>
<li>Events we can meet at</li>
</ul>
<h1 id="portfolio-news">Portfolio news</h1>
The co-founders of Productpine were listed on the Forbes 30 Under 30 list for 2024 in the Social Impact category. 
<h1 id="active-opportunities">Active opportunities</h1>
🇨🇭 Syndicate | Transportation | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D56ddb8b142%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cfe9b29ff4f3d4231656408dc5d157414%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638487593961893864%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=DhnqEce31khzSf21upmRn5M1j1%2FA8ISgY9Kd0rnFqxA%3D&amp;reserved=0">Swisspod </a>is raising €1,6M to develop the hyperloop, a high-speed transport system. 
🇩🇪 VC-Backed | HealthTech | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D00af6aa410%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cfe9b29ff4f3d4231656408dc5d157414%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638487593961913155%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=c1kHk%2FRGk6UW7ScCZvZcYF%2BKBdBugMfhS9VFjBaXNFg%3D&amp;reserved=0">MindAhead </a>is raising €1M to scale its digital therapy solutions that slow the progression of dementia. 
🇷🇴 VC-Backed | SaaS | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Df48b0e8fc9%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cfe9b29ff4f3d4231656408dc5d157414%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638487593961931000%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=SZrPfK0dlybdKUEk%2FfWYsasFlorQw%2BXPTKJvuZQ%2F1Ao%3D&amp;reserved=0">Oveit </a>is raising €400,000 to scale its live events automation solution. 
🔒<a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D0c503eaa2f%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cfe9b29ff4f3d4231656408dc5d157414%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638487593961948440%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=LhvU2I4ykqQWvMi5156nHT6PJLShJUy3xh5K4eAWnBQ%3D&amp;reserved=0"> SeedBlink Club</a> members can currently participate in one private round. 
<h1 id="liquidity-on-your-terms">Liquidity on your terms</h1>
Rare, mature, or discounted investments are available on the secondary market. Rearrange, reconfigure, and reload your portfolio. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D6680a57d7f%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cfe9b29ff4f3d4231656408dc5d157414%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638487593961965969%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=ZCk9XChAfDoqdRkOTbPykL0huo%2BDM3f7ebr%2BQB7lny0%3D&amp;reserved=0">Check the Bulletin Board.</a>
<h1 id="investors-resources-pick">Investors resources pick</h1>
Megarounds comeback | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3De69df4a8e4%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cfe9b29ff4f3d4231656408dc5d157414%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638487593961983478%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=dnJrnElqGSvWrMv6QwY5cCuebGSR2UD6wK4w14T%2FdK4%3D&amp;reserved=0">Read more</a>
There were 42 rounds over $100m in Q1, the most since Q2 2022, and climate tech startups scored the big cheques. Berlin and Stockholm were the hotspots in Q1. 
A conversation with Dragoș Tudorache | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Ddc7156476d%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cfe9b29ff4f3d4231656408dc5d157414%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638487593962000813%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=qPyYmm952J7n1sD0UbrlHb6GZMv486QvZXY%2FRm3q%2FlM%3D&amp;reserved=0">Read more</a>
The politician behind the AI Act shares why he believes the landmark law he helped to shepherd through will change the AI sector for the better.
The role of cohorts in startup analysis | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D926d3b3275%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cfe9b29ff4f3d4231656408dc5d157414%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638487593962023025%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=ymSpNNC%2BXUQp1uiJqASPPK%2BOXuTV2NYlA60LtbT7RV8%3D&amp;reserved=0">Read more</a>
Cohort usage and purchase data present the ground truth in any business, regardless of the business model.
Cognitive monitoring | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D73922fdfc6%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cfe9b29ff4f3d4231656408dc5d157414%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638487593962058716%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=Y501uTvMAGkbrgkLKCr7mMtmYJs4Vcm2fIYHoo0rngA%3D&amp;reserved=0">Read more</a>
Read the interview with Adrian Brodesser, CEO of SOMAREALITY, as he discusses the company&#39;s real-time eye-tracking technology. 
<h1 id="lets-network">Let&#39;s network</h1>
<ul>
<li>🇷🇴 Apr 16: ESOP Design Workshop, Bucharest | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Df80c24f9ba%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cfe9b29ff4f3d4231656408dc5d157414%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638487593962075839%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=5F0rkZCi9s5kxaTmrGY0gPSbYnRPpoftndD1MZ2irfo%3D&amp;reserved=0">Info</a></li>
<li>🇷🇴 Apr 18: ESOP Design Webinar, Sofia | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D335f963181%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cfe9b29ff4f3d4231656408dc5d157414%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638487593962092011%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=oGriiNl7dEyT8UN5auvT7Ydggh7FKdnjgu0vAldVzYg%3D&amp;reserved=0">Info</a></li>
<li>🇷🇴 Apr 23-25: CEE Business Summit, Bucharest | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D4178057567%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cfe9b29ff4f3d4231656408dc5d157414%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638487593962106065%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=P7ad85n99y9T1qvm5R0RobSKq1wx%2B%2FOY%2BQi9FlWZBc4%3D&amp;reserved=0">Info</a></li>
<li>🇦🇹 Apr 23: The Vienna Startup Conference, Vienna | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D5cfba3bb9f%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cfe9b29ff4f3d4231656408dc5d157414%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638487593962116788%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=nX6UT1qOHr25QSaaWcsC%2FY%2B1y28KD4I%2B2fElIXUYwdI%3D&amp;reserved=0">Info</a> </li>
<li>🇦🇹 May 8: Austrian Startups Summit 2024 </li>
<li>🇳🇱 May 28: SuperConnectors Summit, Rotterdam | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dfbdda5a673%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cfe9b29ff4f3d4231656408dc5d157414%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638487593962127355%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=7C7iiW0c5NlUI7kIYHJrMlajLtIKrKGRsCHnOBEgT%2Fg%3D&amp;reserved=0">Info</a></li>
<li>🇳🇱 May 29-30: Upstream Festival, Rotterdam | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D21a8799722%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7Cfe9b29ff4f3d4231656408dc5d157414%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638487593962139868%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=aZWDrCXken%2Fp9702c4juWa5rxFXg8fHjHCzEg8bSKO0%3D&amp;reserved=0">Info</a></li>
</ul>

Read everything you need to know about how to implement an ESOP in Bulgaria, including insights from lawyer Ivelin Vasilev.
Today, we are happy to introduce you to a new type of discussion on equity ownership from the lawyer&#39;s perspective. 
To kick things off, we are joined by <a href="https://www.linkedin.com/in/vasilevivelin/">Ivelin Vasilev</a>, a Bulgarian attorney at law and the Managing Partner of <a href="https://vclaw.eu/">VC LAW FIRM</a>.
<h1 id="who-is-ivelin-vasilev--vc-law-firm">Who is Ivelin Vasilev &amp; VC LAW FIRM?</h1>
Ivelin is a seasoned lawyer specializing in corporate law who brings a wealth of experience managing intricate legal frameworks that drive business growth and safeguard interests. His expertise spans Mergers and acquisitions (M&amp;A), equity transactions, and the meticulous legal due diligence process.
Ivelin has a proven track record in incorporating investment funds, facilitating complex commercial deals, and guiding company reorganizations with strategic legal oversight.
“I specialize in providing legal advice to investment funds, startups, and rapidly growing companies. My experience includes structuring equity deals, conducting due diligence for investment funds, drafting investment agreements, and submitting necessary documents to the Commerce Register here in Bulgaria.
I&#39;ve also spent a lot of time on the other side of the table, advising local and international companies through securing equity or quasi-equity investments from investment funds. At one point, I served as the in-house lawyer for an alternative investment fund that won the public procurement for managing one of the funds under the Bulgarian Investment Fund, Innovation Capital. This fund has invested in over 200 companies, and I was involved in structuring the fund itself and securing legally the first 50 or so deals.
_My unique mix of legal expertise and hands-on experience reviewing companies for investment and serving on an Investment Committee has equipped me with a deep understanding of what makes a successful equity deal._”
<h1 id="esop-in-bulgaria">ESOP in Bulgaria.</h1>
Ivelin’s experience is also deeply connected with legal compliance, including GDPR, <a href="https://www.nimity.com/post/designing-an-esop-plan-for-your-startup">Employee Stock Option plan</a> structuring, and providing companies with innovative ways to motivate and retain key employees.
This is one reason why we wanted to ask him for his advice on implementing an ESOP in Bulgaria.
“When it comes to employee stock ownership plans (ESOPs), I&#39;ve noticed that Bulgaria&#39;s lack of specific legislation can create uncertainty for investors. 
This was somewhat addressed recently with the creation of a new type of company — Variable Capital Company (VCC), allowing for more flexible ESOP arrangements.
As of June 30, 2024, VCCs should be able to be established, as the legislation is expected to be amended. We anticipate that the Commerce Registry will update its website soon to reflect this change in the legislation.
_VCCs are companies that must simultaneously meet two conditions - the annual turnover/asset value must be less than BGN 4,000,000, and the average number of employees must be less than 50. If one of these conditions changes, the company must be reorganized into another type of company (a limited liability company or a joint stock company)._”
The challenge of implementing ESOPs in Bulgaria.
“In Bulgaria, founders typically have to choose between establishing a joint-stock or limited liability company. The latter is more popular due to its lower initial capital requirement. Yet, it&#39;s precisely this type of company that presents complexities around ESOPs.
The law here is quite strict, and making someone a shareholder isn&#39;t easily reversible, which poses risks if an employee stops contributing to the company or acts against its interests.”
ESOP in Limited Liability Companies.
“Delving into ESOP implementation within limited liability companies reveals innovative approaches to achieve desired outcomes. However, the absence of court rulings leaves uncertainty over these methods. 
_This legal ambiguity often leads companies to forgo these innovative solutions to avoid potential legal challenges, opting for simpler options like phantom shares._”
Alternative options — joint-stock companies.
“Joint-stock companies, on the other hand, provide a more adaptable framework. 
They allow for drafting articles of association that can include clauses enabling the company to revoke an employee&#39;s stock if they act detrimentally to the company&#39;s interests. This provision, however, must be explicitly outlined in both the articles of association, the stock agreements, and the subscribed stocks. 
_Many clients prefer this structure for its perceived flexibility in managing ESOPs despite the absence of legal validation through court precedents._” 
<h1 id="local-trends-and-the-impact-of-regional-culture">Local trends and the impact of regional culture.</h1>
ESOP is gaining more traction in Bulgaria, but the challenge is still the lack of clear legislation. Some company owners worry about what happens if someone leaves the company. 
Do they get to keep their shares? This question gets even more complicated when you consider taking a company public, which means selling its shares on the stock market for anyone to buy. 
“A common sentiment among Bulgarian companies we work with is a clear preference against employees retaining stock after their employment ends. 
_No one really likes the idea of former employees holding onto their shares, and it&#39;s a concern we hear across the board._”
Is ESOP popular in Bulgaria?
“Companies were eager to use ESOPs as a tool to hold onto their current team members and to bring new talent on board. It really took off as a strategy for reaching those goals, with many businesses looking to implement it. However, things started to shift after August 2023.
Now, the companies interested in setting up ESOPs tend to be those looking to bring specific experts into their fold, like a sought-after C-level executive or a top-notch senior developer. These professionals often request ESOPs, prompting companies to contact us for help setting them up. But it&#39;s more of a reaction to these individuals&#39; demands rather than companies actively pursuing this strategy on their initiative.
_The landscape has indeed changed. Many companies are seeing their teams shrink, with fewer developers than in previous years, and overall, they&#39;ve become more cautious about expanding their teams. While some have started hiring again, there&#39;s a noticeable slowdown. In this climate, the interest in ESOPs is primarily driven by the need to meet the demands of exceptional talent looking for equity in the company._”
ESOP vs. salary.
Many lean towards salaries and direct remuneration instead of shares for a straightforward reason. 
This preference is particularly strong among individuals prioritizing stable income to meet their day-to-day needs or having financial obligations that can&#39;t wait for the potential long-term gains from equity. 
“We often encounter specialists who join a company&#39;s team not primarily for the salary but because they believe in the company&#39;s vision and potential. These individuals, typically occupying C-level positions or being senior developers, have likely secured substantial career earnings.
With financial stability already in their back pockets, they&#39;re more interested in opportunities to invest emotionally and intellectually. They strongly prefer ownership and a stake in the company&#39;s future. 
This mindset is commendable and is an effective strategy for startups looking to attract top talent.” 
<h1 id="fundraising-rounds-investors-and-esop">Fundraising rounds, investors, and ESOP.</h1>
According to Ivelin, the effectiveness of Employee Stock Ownership Plans hinges significantly on two main factors: 
<ul>
<li>the type of fund involved </li>
<li>the specifics of the deal at hand. </li>
</ul>
“A smart fund that might propose an investment with the foresight that the company will likely undergo several funding rounds. They&#39;d want to know how many employees the company plans to hire in each phase and how the ESOP pool will adjust accordingly. 
Now, imagine a small business with ten employees receiving a 1M EUR investment. The fund could advise preparing to hire 20 more employees for specific departments while considering the need to expand the team by 80 in future funding rounds. 
As the company&#39;s valuation increases, the proportion of shares allocated to the ESOP should decrease, reflecting the rising value of each share.
In the initial round, the company might allocate 10% of its capital to the ESOP, followed by 3% in the next, and perhaps 1-2% in subsequent rounds, depending on the anticipated funding stages. 
_This strategic approach helps prevent future disputes and ensures all parties agree on the company&#39;s growth and handling of ESOP dilution._”
However, Ivelin says it&#39;s rare to see such proactive investor involvement in the planning of ESOPs in Bulgaria.
“Few cases exist where founders actively seek and incorporate investors&#39; advice into their ESOP strategies. And when advice is given, it&#39;s not always taken to heart. 
The dynamic between the investment fund and the founders is, therefore, crucial. When both parties are astute and cooperative, it can lead to a fruitful partnership, paving the way for seamless future investment rounds. 
_This approach ensures that subsequent investors are informed about how their capital will be utilized and whether it will be affected by the ESOP dilution._” 
<h1 id="legal-particularities-for-esop-in-bulgaria">Legal particularities for ESOP in Bulgaria</h1>
Several unique considerations must be remembered when setting up an ESOP in Bulgaria. These aspects reflect Bulgarian companies&#39; nuanced approach to ESOPs, which balances employee incentives with the company&#39;s strategic needs and legal framework.
We asked Ivelin to help us contour the most important ones you need to know about. 
<ul>
<li>Conditional share acquisition: Many Bulgarian ESOPs incorporate a provision where employees can acquire shares or stocks only a short period before a liquidity event, such as the company being acquired or going public through an IPO. This approach ensures employees have a stake in the company&#39;s success without immediate share ownership.</li>
<li>Vesting periods: ESOPs often include vesting periods, after which employees earn the right to acquire shares. However, equity ownership is contingent upon a liquidity event, aligning employee incentives with long-term company performance.</li>
<li>Dividend equivalents: Employees may receive payments equivalent to dividends if they were actual shareholders before a liquidity event. Despite the lack of formal stock ownership, this provides a tangible benefit during the vesting period.</li>
<li>Share transfer mechanisms: At the time of a liquidity event, qualified employees can receive their vested shares or stocks. This critical moment transforms their potential earnings into actual ownership, potentially leading to significant financial gains.</li>
<li>Pricing and acquisition of shares: Unlike the U.S. model, where employees often buy stocks at a discount, Bulgarian companies typically grant options as a gift without requiring any payment from the employee. This generous approach enhances the attractiveness of ESOPs as a component of employee compensation.</li>
<li>Profit realization: If an employee acquires shares shortly before a liquidity event and sells them during this event (e.g., an IPO or acquisition), they may realize a profit. This profit is then subject to taxation, just like any other income, underscoring the financial implications of participating in an ESOP.</li>
</ul>
<h1 id="connect-with-ivelin">Connect with Ivelin:</h1>
<ul>
<li><a href="https://www.linkedin.com/in/vasilevivelin/">Linkedin</a></li>
<li><a href="https://vclaw.eu/">VC LAW FIRM
</a></li>
</ul>
<h1 id="learn-more-about-esop">Learn more about ESOP.</h1>
If you want to learn more about employee stock option plans, ESOP tax advantages, fundraising rounds, industry trends, and a snapshot of the venture capital market right now, prepare for your fundraising round; we’ve got you covered. Check out our dedicated page on <a href="https://www.nimity.com/esop-design?utm_campaign=company-24-q2-organic&amp;utm_medium=blog-sb&amp;utm_source=other&amp;utm_content=esop&amp;utm_term=null">ESOP Design Programs</a>.
Join our upcoming webinar on How to implement an employee stock option plan in Bulgaria in collaboration with <a href="https://www.gugushev.com/en">Gugushev &amp; Partners</a>.
<img src="/img/event-flyer-esop-design-en-.jpg.jpg" alt="">
This program simplifies the process of creating and managing Employee Stock Option Plans (ESOPs) for Bulgarian companies by leveraging the experience of legal, tax, and digital management specialists, providing founders with the tools and expertise to implement effective ESOPs tailored to Bulgaria&#39;s specific legal and tax environment. 
<a href="https://seedblink.com/en/press-room/2024-04-03-how-to-implement-esop-in-bulgaria-webinar?utm_campaign=company-24-q2-organic&amp;utm_medium=blog-sb&amp;utm_source=other&amp;utm_content=esop&amp;utm_term=null">Register here for the webinar. </a>
Participation is free of charge. 
Places are limited.

How to implement ESOP in Bulgaria. Legal advice from Ivelin Vasilev, Managing Partner at VC Law firm.

ESOPs in Bulgaria: A legal perspective with VC LAW Managing Partner Ivelin Vasilev

<h2 id="a-lot-of-interesting-news-to-talk-about-scroll-down-for">A lot of interesting news to talk about. Scroll down for:</h2>
<ul>
<li>Primary Market: active opportunities</li>
<li>Secondary market updates</li>
<li>Investors resources picks </li>
<li>Events we can meet at</li>
</ul>
<h1 id="portfolio-news">Portfolio news</h1>
<h1 id=""></h1>
<h1 id="-1"></h1>
<ul>
<li><a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dff8eb7c414%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5cca08b591024464391808dc57954ffb%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638481546020208600%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=X8Fa07jQJhb%2Bnr4y5HXwdKGPSJhKGj4VqkSCNAbNgwM%3D&amp;reserved=0">Synaptiq </a>has completed the Innovation Norway project, enabling them to conduct trials in 12 hospitals.</li>
<li><a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dcc1809e677%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5cca08b591024464391808dc57954ffb%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638481546020219439%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=CcIYR1KZlRo%2BVufTYyTPCqcNWpO4KddVzFHRjFeAb2o%3D&amp;reserved=0">Alcatraz AI</a> launched Rock X during ISC West 2024 in Las Vegas. </li>
</ul>
<h1 id="active-opportunities">Active opportunities</h1>
🇳🇱 Syndicate | Fintech | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D083e5f1ea9%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5cca08b591024464391808dc57954ffb%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638481546020228629%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=SdFe9pAz9N2TU4qmvHA0hxnuhwmKq8ZpYQCO9BfIRQw%3D&amp;reserved=0">Corekees </a>is raising €1M to facilitate profitable investment projects with a net positive impact.
🇷🇴 VC-Backed | SaaS | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D2c1f1bc1fc%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5cca08b591024464391808dc57954ffb%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638481546020237837%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=mCkXHRRJIudrYC7l9WzPWHIjYCo7FssCq5Ylqlg1QLk%3D&amp;reserved=0">Oveit </a>is raising €400,000 to scale its live events automation solution. 
🇩🇪 VC-Backed | HealthTech | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Deb514656f3%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5cca08b591024464391808dc57954ffb%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638481546020251203%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=nj6pyYCaBjRH8LKiyWE8ri5Z%2B4ZqaiBCaeDfyndxiUU%3D&amp;reserved=0">PerioTrap </a>is raising €900,000 to scale the first solution to prevent periodontitis, a chronic condition affecting half of the adults.
🔒 <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D7c6c379ebc%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5cca08b591024464391808dc57954ffb%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638481546020264015%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=vcdb%2F8aTemKpj0%2FgxNVkl2t7jtB2np5%2BtQKanhd7%2BQM%3D&amp;reserved=0">SeedBlink Club</a> members can currently participate in two private rounds. 
<h1 id="liquidity-on-your-terms">Liquidity on your terms</h1>
We&#39;re transforming investment liquidity and it&#39;s clear that freedom, flexibility, and control are at the forefront of every smart investor&#39;s mind. <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D3d0ed730bf%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5cca08b591024464391808dc57954ffb%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638481546020276211%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=16s2QWfvo3rAHv2hLsPUn8zHDhYpW%2FbLjoaiKKiDBzY%3D&amp;reserved=0">Check the Bulletin Board</a>.
<h1 id="investors-resources-pick">Investors resources pick</h1>
Truly sustainable | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D262ac203d8%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5cca08b591024464391808dc57954ffb%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638481546020288333%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=VdMaX7LmS8PAcI5cf3nWnR5tdeC5LRCvwL5nRG6Lp54%3D&amp;reserved=0">Read more</a>
Only 0.5% of all European investments are impact investments. Nick van Heesewijk, CEO of Corekees, is sharing some food for thought on investing with a verified positive impact on society, the environment, and the climate.
Cyclical recovery | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Db9aba458c5%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5cca08b591024464391808dc57954ffb%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638481546020300340%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=e0RsmI3fwXKsYUs8TOHZ%2BBp7%2BmxB88uxU9YXr0jlr%2BM%3D&amp;reserved=0">Read more</a>
The economy is gaining altitude, and investor reaction should be good for value over growth, and stocks over bonds.
European Renaissance | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D54c789a1d7%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5cca08b591024464391808dc57954ffb%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638481546020312502%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=J8hZ9DlsF2xrsxNdqkrROlW0uaNrFdEe%2BkO6p1Whi0I%3D&amp;reserved=0">Tune in</a>
Europe used to be the entrepreneurial Ice Age in 2005 when Davor Hebel, Managing Partner at Eight Roads joined the VC world. An inspiring conversation on the evolution of the European market. 
Looking back | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Db3e7e76b40%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5cca08b591024464391808dc57954ffb%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638481546020337850%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=Tjjk2t9HtgMdfOKKFmO6BmvLBZs34D4Fe6EAGpTmNZ4%3D&amp;reserved=0">Read more</a>
Ten years later, Facebook’s Oculus acquisition hasn’t changed the world as expected. Despite Mark Zuckerberg&#39;s vision of immersive gaming and beyond, Oculus hasn&#39;t fulfilled its transformative promises. 
<h1 id="lets-network">Let&#39;s network</h1>
🇷🇴 Apr 23-25: CEE Business Summit, Bucharest | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Ddb59c87e5e%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5cca08b591024464391808dc57954ffb%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638481546020350192%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=Zj%2Bxifgj35lAsmxDK77vb0YykAYRgb3V3Jtg%2F9QaE14%3D&amp;reserved=0">Info
</a>
🇦🇹 Apr 23: The Vienna Startup Conference, Vienna | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3D882a973502%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5cca08b591024464391808dc57954ffb%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638481546020362930%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=YT3WKGt3ieLxBNdScT3bnoiPrZdz5n0cDJSyWbqs3a8%3D&amp;reserved=0">Info 
</a>
🇳🇱 May 28: SuperConnectors Summit, Rotterdam | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Db417ccb49a%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5cca08b591024464391808dc57954ffb%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638481546020375595%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=AnC4dUuLZBx08kdgKLi2y6Gx0oeFsvOOSmzi1FSxVUU%3D&amp;reserved=0">Info
</a>
🇳🇱 May 29-30: Upstream Festival, Rotterdam | <a href="https://eur05.safelinks.protection.outlook.com/?url=https%3A%2F%2Fseedblink.us19.list-manage.com%2Ftrack%2Fclick%3Fu%3D224b34ca20549631ee1243970%26id%3Dd98cae842d%26e%3D7eb0388181&amp;data=05%7C02%7Coana.ciurea%40seedblink.com%7C5cca08b591024464391808dc57954ffb%7C918fd975dab94c179397e33d58117c84%7C0%7C0%7C638481546020388312%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=4H0B4g7xxboQLOI3mcvvjTghKCUkSU5d9rlqirhn%2Brw%3D&amp;reserved=0">Info 
</a>

Investment readiness is actually critical for startups looking to raise money as it directly impacts your ability to secure funding and scale operations. A solid foundation of funding readiness enables startups to attract investment more easily - it builds credibility and trust with potential investors. 
It’s therefore important for founders to understand what investors are looking for when considering a startup.  
There are several components that make a company attractive for funding: a solid business plan, accurate financial statements (including projections and a target funding amount), a strong team, an innovative product or service, a significant market opportunity and market understanding (and how you position yourself), a crisp-clear competitive landscape (knowledge of the gaps they don&#39;t cover or don&#39;t cover well), product-market fit - customer acquisition and retention strategy and health, as well as several other issues such as intellectual property, compliance and partnerships. 
There is also another crucial issue: information about who owns how much of the company. That&#39;s where the cap table comes in. You can put the cap table in the &quot;equity management&quot; bucket, part of the larger finance area. 
Understanding cap tables 
A cap table (short for &quot;capitalization table&quot;) is a document that provides a detailed breakdown of a company&#39;s ownership structure. It lists all of the company&#39;s securities: shares (common or preferred), shares reserved for stock options (granted to employees, executives, consultants, or others as part of their compensation), and SAFEs, warrants, or convertible debt. We&#39;re getting a little technical here, but it&#39;s important to understand the components.  
Another essential part of the cap table is clearly who owns what type of securities - how many and what percentage of ownership - as well as how much was paid by investors.  
<h1 id="why-is-a-cap-table-important-for-attracting-new-investors">Why is a cap table important for attracting new investors?</h1>
The cap table is a key due diligence item because it shows how each stakeholder is affected by a new fundraising. So a very important reason why the cap table is important to investors is that it provides transparency. They know what they are getting into and will understand the dynamics of ownership once they invest. In the early stages, it&#39;s important for the founding team to still own a large portion of the company and still be motivated to keep going. The cap table will reflect this. 
Another benefit is that a cap table provides clarity around equity compensation. Outlining the different classes of shares and the rights and restrictions associated with each class ensures that all stakeholders understand the value of their equity.  
It also provides a framework for the grant, exercise and transfer of equity. By providing this clear and concise breakdown of ownership, it helps avoid disputes and misunderstandings among shareholders. 
Another benefit of a cap table is that it can help manage equity compensation with the goal of incentivizing and retaining employees. By receiving equity via ESOP, employees are aligned with your long-term success. This goes back to the ability to secure a strong team, brownie points on your funding readiness agenda.
A cap table can also provide insight into the valuation of the company. Tracking the ownership percentages and value of each class of equity provides a clear picture of the company&#39;s worth. This information can be extremely valuable when raising capital. 
Compliance is another factor that shouldn&#39;t be overlooked. Tracking ownership percentages and the value of each type of stock helps ensure that the company is in compliance with securities laws and regulations. 
Finally, a cap table can facilitate informed decision-making across the board. Providing a clear and concise breakdown of ownership and value helps ensure that all stakeholders have the information they need to make informed decisions. This includes you as a founder: When you raise capital, you need to figure out how much of your company you&#39;re willing to give up for investment. This is part of your growth and funding strategy, and a good cap table can help you do this.  
<h1 id="understanding-dilution-for-you-and-your-current-investors">Understanding dilution for you and your current investors</h1>
Equity dilution is the reduction in the ownership percentage of existing shareholders after a funding round, as new shares are issued. There are other causes of equity dilution, such as a founder increasing the employee option pool, but for this article we&#39;ll focus on funding rounds. 
The good news is that a cap table can help manage dilution. You simply calculate dilution in a cap table. By tracking the number and value of shares outstanding and the rights and restrictions associated with each class of shares, a cap table can help ensure that dilution is managed fairly and transparently.  
Scenario modeling is also useful when it comes to dilution. Such simulations help founders - and potential investors - play with the cap table, exploring different future paths and evaluating their potential outcomes without real risk. 
Speaking of dilution, there is a very important issue to consider: pre-emptive rights. 
Pre-emptive rights ensure that existing investors have the right (but not the obligation) to invest in future fundraising rounds of the company in order to maintain their stake in the company. The right is designed to protect current shareholders from dilution of value or control. Are your existing investors aware of their rights? Engage them in a discussion and use the cap table to work things out.  
<h1 id="tools-to-build-and-maintain-a-clean-and-accurate-cap-table">Tools to build and maintain a clean and accurate cap table</h1>
Given all of the above, you can imagine how important it is to have a reliable cap table. It&#39;s not only about painting an accurate picture of your company and setting the right expectations with potential investors, your team and partners, but any mistake in the early days can cost you dearly in the long run. 
So if you are preparing for your first round of fundraising or new rounds, NOW is the perfect time to build or review your cap table. While it&#39;s perfectly possible to get a cap table template online and manage your equity in a spreadsheet in the beginning, as things progress and you get more investors or more types of equity, the cap table becomes complex and you risk making costly mistakes.  
Our strong recommendation is to use specialized tools (like Nimity) that provide, at a minimum, the ability to manage the cap table and administer the stock plan. 
It&#39;s not just about accurate calculations, it&#39;s about all the benefits mentioned above plus other implications, such as more advantageous operating models like a Trust structure, or moving the company to another region. Not to mention the more mundane administrative tasks of collecting signatures for quick decisions, communicating effectively with all stakeholders, and so on.    
<h1 id="how-can-founders-have-a-healthy-cap-table">How can founders have a healthy cap table?</h1>
If what you&#39;ve read so far speaks volumes, but you are not sure where to start, why not try Nimity by SeedBlink? It&#39;s a SaaS platform built with founders like you in mind. It&#39;s free to get started and offers not just cap table and equity management, but a holistic approach to funding, from first round to early liquidity.  
Any start-up or scale-up is welcome to Sign up FREE for Nimity by SeedBlink.

The importance of financing readiness for startups 

Funding readiness: is your cap table attractive to investors?

Nick van Heesewijk is the founder of Corekees, a company at the intersection of sustainability and investing. Before founding Corekees, Nick leveraged his expertise in sustainability and digital consulting, notably at Quadriz BV, where he spearheaded corporate CO2-offset programs with a quadruple climate impact. With a background in marketing, management, and information systems, Nick brings a diverse skill set to their mission of giving sustainability an economic value through sustainable investment.
Corekees is dedicated to giving sustainability an economic value through its state-of-the-art sustainable investment platform, which allows investors throughout Europe to participate in green projects while profiting from the harvest proceeds. 
1. What ‘aha’ moment led to the founding of the Corekees?
In 2016, I visited my uncle&#39;s &#39;tree project&#39; in Paraguay. During the visit, I encountered the Pongamia tree for the first time. This tree absorbs a significant amount of CO2 and produces nuts. These nuts can be converted into biofuel.⁠
This was an eye-opener for me: why didn’t more people not know about the existence of these trees? This seemed to me like the perfect way to put all of that investment money in the world to work for actual impact. I found (and still find) this to be the ideal combination: a profitable investment that creates a sustainable impact.⁠
2. What was your drive back then, and what change did you aim to make in the sustainable investment landscape?
At Corekees, we believe that money is the most powerful tool to make a positive impact on global challenges, such as climate change, social inequality, and the loss of biodiversity. However, most capital is invested in the wrong way. Therefore we aim to make an impact investing in the new standard; 
investing with a verified positive impact on society, the environment, and the climate.
3. How does Corekees&#39; investment platform contribute to sustainability, and what specific market gap does it address?
Only 0.5% of all European investments are impact investments which means that 99.5% of all investments are not sustainable (enough). On the other hand, there is a rising demand for investments with a positive impact, especially among Millennials. Which does not correspond with the current market size. 
Corekees facilitates profitable investment projects with a net positive impact. For example, we reforest the Amazon, plant bamboo fields in Portugal, and cultivate organic ginger and turmeric with coffee farmers in Nicaragua. Our projects all have three aspects in common: they are financially profitable, have a measurable and validated impact, and the risks are minimized. 
4. How do you scale your business model while ensuring financial success for both investors and environmental initiatives?
We have become experts in finding, structuring, and managing high-quality projects. With extensive due diligence and a critical eye, we minimize the risks for our investors and ourselves. Our team is really on top of everything, together with our local partners and the local stakeholders. This allows us to communicate transparently and in detail with our investors. 
This is the foundation of our current and future investment projects: scalable, tangible, transparent, and financially attractive. 
5. How does Corekees guide and empower investors to make informed decisions about their sustainable investments?
Our investments are at the project level, ensuring a high level of tangibility and involvement. With an accessible entry rate, a transparent approach, and a clear dashboard, our investors have all the tools to put their capital to work in a positive manner. We also keep our investors informed about new opportunities and market developments.
6. What are potential exit scenarios for investors supporting Corekees?
With the raised capital, we can expand our investor base, scout for new investment projects, develop the Corekees investor platform, and prepare for a Series-A funding round in 2026. 
The return on investment comes from the increase in value of the shares when Corekees becomes more valuable. The shares can be sold over time through SeedBlink; they offer a marketplace where you can offer your shares for sale to other investors. 
7. How do you envision Corekees&#39; future growth?
We want to become Europe’s main platform for sustainable investing. With the funds we raise through this crowdfunding, we are going to scale our current projects and scout new ones. In addition, we aim to serve our investors even better and attract new investors, including companies.
8. Do you have a mentor or figure within the sustainability or investment industries whom you admire and draw inspiration from?
There are only a handful of companies that monetize impact into an economic model like Corekees does. Companies like Carbon Equity or influential people like Paul Polman (former Unilever CEO) spring to mind. In addition, we see corporations being forced into making sustainability a main driver in their strategic choices. This movement makes us hopeful for our future and the potential for initiatives like Corekees. 
9. Why should investors consider being part of Corekees&#39; journey?
As an investor, you become an official shareholder of Corekees. This means you become part of our growth potential. Since the previous investment round in 2021, we have grown each year by at least 100%.
In May 2021, our company&#39;s valuation was 1 million euros, and following this crowdfunding campaign, our company&#39;s valuation has been determined to be 5 million euros.
Moreover, you contribute to a greater positive impact. With the new capital, we can ensure the high quality of current projects and scout for new ones. 
And last but not least, you facilitate a transparent and sustainable investment opportunity. With the raised growth capital, we can optimize and expand our Corekees platform.
<a href="https://investors.seedblink.com/invest/corekees/228">Explore the opportunity on SeedBlink.</a>

Explore the sustainable investment landscape with Nick van Heesewijk, CEO of Corekees and the motivations driving Corekees.

Sustainable investments with impact: A conversation with Nick van Heesewijk, CEO of Corekees

Eye tracking solutions systematically capture and measure involuntary tiny eye movements and gestures, which generates accurate insights about visual attention, cognitive processes, and reactions — enabling researchers to expand scientific knowledge of behavior.
Adrian Brodesser, CEO and co-founder of SOMAREALITY together with his co-founder Michel Varilek built a real-time cognitive monitoring service: eye tracking technology. With a background in biomedical engineering and experience at the German Aerospace Center&#39;s &quot;Cognitive Robotics&quot; department, Adrian brings a unique blend of scientific expertise and entrepreneurial drive to SOMAREALITY. The company&#39;s technology, which is hardware-agnostic and integrates into wearables, medical devices, and digital therapeutics, offers clients insights into their cognitive status in real-time.
1. What ‘aha’ moment led to the founding of SOMAREALITY? 
During my time at the German Aerospace Center for cognitive robotics, we had many big companies approach us with the need to monitor cognitive changes in real-time outside a laboratory setting to better understand training processes or make robots aware of their user. In the end, we never managed to develop a solution since sensors such as EEG are limited to laboratory settings with low / no movement and are not able to understand the context of their surroundings. I saw that there was a huge industry need that was not being met with the current technology and approaches on the market.
2. What was your drive back then? What change did you want to make? 
I am a big healthcare enthusiast. I love measuring my healthcare status and understanding how nutrition and sports can impact my quality of life. I believe that the future of healthcare will be healthcare wearables that enable everyone to oversee their health data – in real-time. While we already have many solutions for insights into activity levels and sleep there is currently no solution that enables (me) to track my cognitive ability in real-time during the day. With our technology, we will enable the first continuous real-time cognitive monitoring and close this crucial missing gap. Enabling everyone to understand their cognitive state anywhere, anytime.
3. How does SOMAREALITY&#39;s eye-tracking technology significantly contribute to improving training processes? What specific market gap does it address? 
The application areas for real-time cognitive monitoring are nearly endless. That being said, as a young company we need to focus our attention on selected GTM areas to validate our technology and ability to scale. Because of the already validated market need we first focus on real-time cognitive monitoring during high-stress / high-risk environments. A great example is pilot training: Pilots are being trained in very expensive simulators (up to EUR 200 Mio) that are booked 24/7 so each hour is very expensive. By measuring the cognitive state of a pilot in real time we can detect individual training needs and reduce training hours. 
4. How do you scale your business model while ensuring financial success in the digital health sector?
While we currently focus on training in high-stress / risk environments we already get a lot of inbound interest in the field of digital health from customers such as the NHS, Children´s Hospital of La, Medical University of Vienna, or the Charité in Berlin. Here the use cases currently evolve around the early detection of neurodegenerative diseases as well as other diseases such as biomarkers for alcohol addiction for example. These customers mostly buy our SDK and pay our yearly licensing which scales very well. Being already integrated in studies like this that show the potential of our technology in the field of digital health is extremely exciting. 
5. How does SOMAREALITY guide and empower clients to make informed decisions when adopting your eye-tracking solutions? 
It depends on the client. As mentioned, before we currently focus our business development efforts on enterprise customers in the field of training in high-risk / stress environments. Here we often work very closely with the client to test our technology in their use case and integrate it into their existing workflows. Some of them have never used eye tracking before and now integrate it because of our cognitive monitoring abilities. Customers such as universities or research centers often already have eye-tracking experience and just integrate our SDK without any additional help.
6. What are potential exit scenarios for investors supporting SOMAREALITY?
As IP driven deep tech startup we have identified so-called exit gates for the next 3 years. On one side we have eye-tracking providers that want to integrate us to offer their customers additional insights – therefore sell more of their products. We also have big tech companies such as Samsung and Apple who are now entering the eye-tracking market and have an interest in understanding how they can use this data in different ways. Last but not least, one of our many enterprise customers could also become a potential exit partner.
7. How do you envision SOMAREALITY future growth?
After closing this funding round we will focus all our attention on our growth again. While we have already validated our technology, we still need to prove the team’s ability to scale SOMAREALITY commercially. Just two weeks ago we got the news that we got selected for an 800k pilot project with the Austrian Armed Forces. We expect to see many more in the next two years. That being said our focus lies in the validation of our core market by closing ~ 1 mio ARR before entering new markets. We also want to further protect our technology with an international patent. I believe that this is one of our core strengths – for a deep tech company we have been revenue-focused from day one which is very unusual. 
8. Why should investors consider being part of SOMAREALITY&#39;s journey?
Our technology has many great use cases but also some very dangerous ones. We want to partner with investors who want to help us make the world better. We are not looking for investors who just want to multiply their money no matter the cost. If you are an investor who sees the potential of continuous cognitive monitoring outside the laboratory and the good, it can create we would love to hear from you!
SOMAREALITY is a European deep tech startup with existing IP, over 2mio in collected research funding, an amazing team, and a committed sales pipeline of over 1mio EUR – and we are just getting started.
<a href="https://investors.seedblink.com/invest/somareality/238">Explore the opportunity on SeedBlink.</a>

SeedBlink Blog

All things equity

Portfolio building 101: Understanding liquidity and secondary market transactions