Where are the Incubation Batch #1 Startups at Now?
The very first CV Labs Incubation Program started on the 29th of April 2019. 12 startups from 8 different countries gathered in Zug to benefit from the incubation and to successfully take their first entrepreneurial steps. Since graduating from the program in July, the entrepreneurs have continued to work on their respective projects and the progress is very promising for a substantial number of them. Depending on the startup, the focus has been on further product development & testing, rollout and customer acquisition, corporate and/or academic partnerships and investor discussions. Three startups should be highlighted, whose valuations will be significantly higher than those of our incubation program due to new financing rounds.
- AdHash (AdTech, Bulgaria): The startup has already convinced 50 websites and 20 advertisers of its advertising platform. Since its launch in November 2019, AdHash has delivered more than 10 million advertising content, with a strong upward trend. To further drive growth, AdHash is planning a second financing round of $500,000 to 1 million in 2020. The aim is to finance the future growth from positive cash flow.
- Sprinter (Platforms, USA): Since the incubation program, Sprinter has generated $150,000 in revenue with new customers. Partnerships have also been established with potential multipliers. Sprinter hired developers and further boosted its product development. The company plans to raise more than $1 million in the first half of 2020.
- Tezure (Insurance, USA): Tezure’s test tool Tezster is listed on the official developer portal of the blockchain platform Tezos, one of the largest in the world. It achieves a download rate of 150 per week. Seven new developers have been hired to further develop the insurance app. Tezure is currently closing a financing round.
In addition to our incubates positive development, there is also positive news from our direct investments: Proof of Impact (Fintech, Netherlands), our very first direct investment, has just announced the conclusion of its financing round with Franklin Templeton as lead investor. Ausum Ventures (San Fran) and Pangea Blockchain (CH) have joined CV VC and Franklin Templeton supporting this exciting project which seeks to develop a global marketplace on the blockchain where one can donate or invest directly into measurable impact outcomes. Proof of Impact’s co-founder Fleur Heyns will be pitching the company during the Annual Meeting of the World Economic Forum in Davos in January 2020. CV VC will also feature Fleur Heyns during our events in Davos in the same week on the 21st and 23rd of January.
