Selected news from the CV VC startup portfolio
Verified digital identity: successfully completed its investment round of CHF2.5 million at the beginning of May. In addition to CV VC, a group of investors led by Aquila-Direkt, other experienced private investors are also investing in Vereign. Through Totemo AG, an attractive industrial partner has also invested in Vereign. Totemo will contribute to a strategic network expansion and provide another dynamic partner for growth in addition to the existing cooperation with IBM.
Proof of Impact
Traceable impact investing: currently raising a Seed II financing round with the goal of raising USD 2 million. CV VC is already invested in Proof of Impact from the previous financing round, next to Franklin Templeton, Pangea Blockchain, and Ausum Ventures, among other. As of today, more than one third of the financing round has already been committed by all of the existing investors from the previous round, led by Franklin Templeton. With this strong commitment from previous investors a broader group of new investors is now being approached. On the business development side, Proof of Impact has now launched its B2B product offering, seeing strong demand for such corporate focused products.
Next generation advertising technology: publicly launched the AdHash platform in December 2019 in the test market Bulgaria. Since then AdHash experiences strong traction (250+ million ads have been processed, strong traction in monthly revenues, client retention rate of 100% so far). The European-wide virtual launch is planned for summer 2020. AdHash is using this strong momentum to raise USD 500k in Q3/Q4 2020 to support their growth and reach profitability. AdHash is further looking to relocate their HQ to Switzerland in H2 2020 and become a Swiss company.
Secure IOT software update platform: received a non-refundable grant from the Federal Ministry of Education & Research in Germany for EUR 725k and have recently been ranked “Outstanding Cybersecurity Startup Germany” by the KIT Karlsruhe (Karlsruhe Institute of Technology)
Subscription-based eCommerce technology platform): publicly launched their working product in Q2 2020, an eCommerce web platform for (online) subscription businesses. Xion gained over 500+ active users in the first week and is rapidly growing by the day, and aside from the CV VC incubation investment have raised further capital from Angel Investors. On the back of its strong operational traction, Xion is launching its seed round with a goal to raise USD 1.2 Mio to fuel growth and add additional features to the platform.