Market One Capital’s 2023 recap

2023 has been a rollercoaster ride. The global economy has entered a period of economic decline. Startups that were growing two years ago, reaching billion-dollar valuations, struggled last year to raise further rounds. The requirements of funds investing at subsequent stages of growth have increased significantly. Capital was no longer as easily available as it was a few years ago. This put into question the future of all companies whose models required continuous, multi-million investments. All this resulted in a significant reduction in the valuations of technology companies and a decline in the number of new investments as well as follow-on rounds.

Despite the market turmoil and all-round uncertainty, looking back to 2023, many good things happened at MOC that we want to share with you.

MOC II with a total capitalization of €80 million

At MOC II, we continue our investment strategy, as it has worked very well for us so far and dovetails with our strengths. To date, we have invested in 4 companies, and we plan to support 25 more startups, mainly in the area of B2B / B2C marketplace and network effects, which are among the cornerstones of the technology sector. We particularly focus on companies from our region, Central and Eastern Europe, although in general, our interest is placed more broadly on European startups.

We invest at the earliest stage possible — pre-seed and seed, from €200K to as much as €2M. We also plan follow-on investments up to Series B round, by which we can allocate up to a maximum of €8 million in a single company. To learn more about our investment thesis read Michał Mroczkowski’s blogpost.

And talking about portfolio companies…

New in the MOC family and winners of the difficult times

To date, we have invested in four companies from MOC II, and four portfolio companies obtained five financing rounds for a total amount of over EUR 27 million.

Welcome to the MOC family….

- Ovoko, a Lithuania–based marketplace for used car parts.

- Asap.work, a France- based marketplace for temporary recruitment in construction industry.

- Metycle, a German-based trading platform for scrap and recycled metals.

- More Growth, a Polish company that creates brands and online products to help users take care of their health and personal development.

Kudos to the winners……

In an economic climate that has tested the mettle of many, Metycle has emerged, securing not one but two rounds of financing in just eight months in 2023 — a feat as commendable as it is unusual.

In March, the company raised a 1,5m EUR pre-seed round, led by DFF and us, with the participation of angel investors Tom Bird, ambassador and veteran of the global recycling industry, and Louis Pfitzner, entrepreneur and marketplace investor.

This was followed by a 5m EUR round in December led by Project A with the participation of Partech, existing investors Market One Capital and Dutch Founders Fund (DFF), and renowned industry angel investors such an Anne-Marie Großmann (GMH Group), Gisbert Rühl (ex-CEO of Klöckner & Co.), Christoph Cordes (Flink), and Philipp Andernach (Antunnacum).

Silverbird, a UK-based digital bank for international trade, presented an unprecedented growth of approx. 4x YoY on all major KPIs and proved to be yet another rising star in our portfolio, raising a significant round of financing this year.

Convious, an omnichannel one-stop-shop cloud platform for the out-of-home entertainment industry, secured an additional $9 million of Series A funding to support the next phase of its development. Wille Finance led the round with the help of Orbit Capital and current investors.

Connect Earth, a UK-based company that democratises easy access to sustainability data, raised a $5,6M seed round! The round was led by Gresham House Ventures with participation from Love Ventures, Global Brain, Portfolio Ventures, Super Capital and strategic angel investors. The existing investors Mustard Seed MAZE, Venista Ventures, and us, Market One Capital, also joined the round.

FOMO Conference — let’s talk about the Future of Marketplaces

The idea of creating an event combining our passion, experience and what is deeply rooted in our DNA has been maturing for a long time. Together with Point Nine, we have undertaken an ambitious task to foster a space where like-minded individuals can connect, share notes, and engage in meaningful discussions about the future of marketplaces. With a focus on AI, Circular Economy, ESG, B2B Models, and more, we were exploring the cutting-edge developments that will shape the industry’s trajectory.🇵🇱

FOMO in numbers:

220 participants from 17 countries including
🇦🇹 🇨🇭 🇨🇿 🇩🇪 🇩🇰 🇪🇪 🇪🇸 🇬🇧 🇦🇺 🇮🇳 🇬🇷 🇭🇺 🇱🇹 🇳🇱 🇵🇱 🇺🇸 🇸🇪

22 speakers

6 thematic blocks

NPS 81

We are the best fund in CEE according to Dealroom 2023 Investor Rank, the second year in a row!

If they say something for the second year in a row, it must be true…. our portfolio companies rules 😎🤘

Big shoutout to MOC’s portfolio family for all their hard work so far and for making Market One Capital the coolest VC on the block in Central and Eastern Europe. Many thanks to Dealroom for the nod in their 2023 Investor Rank. It’s more than just a pat on the back for us; it’s a high-five to the entrepreneurs we team up with.