What the Untitled Ventures Company does
The Untitled Ventures announced the creation of a fund that will focus on Eastern European startups. It is worth 50 million euros, and the organization will invest in promising projects in the early stages of development, which only enter the foreign market.
The new fund is interested in startups that develop products for business based on artificial intelligence technologies, as well as robotics, data management systems, solutions for agriculture and medicine. The funding for the foundation has been taken over by the European Union.
According to representatives of The Untitled Ventures, now in Silicon Valley is a huge number of promising startups, which were organized by natives of Ukraine, Belarus, Russia and other Eastern European countries. However, such projects still lack the experience and funds to stay at the American market and present their product at a high level.
The Untitled Ventures company is located in California, and has offices in Moscow and Riga. It specializes in the investment of technology start-ups, which are in the initial stages of development and market entry.
The company carefully selects projects for capital investment. If a startup is estimated at 50 to 150 million rubles, the business can expect investments of 5 to 15 million rubles, which are spent on product development, scaling and presentation of the project. One of the key features of startups that are of interest to The Untitled Ventures is their own technology platform, which is interesting in terms of functionality and integration into various product complexes. The company’s technology must solve a specific task for a particular niche market.
A few years ago, the venture company invested in a start-up SuitApp, which develops products based on artificial intelligence technology for online retailers in the fashion segment. The project presented a platform that helps to combine clothes and match accessories. The product uses technology that allows the choice of closet elements based on brand compatibility, taking into account the size range, cost of clothes and individual wishes of the user. In total, the service takes into account 20 parameters for the result.
Untitled Ventures is looking for promising projects not only in Silicon Valley. They actively explore the Russian market, helping startups with interesting ideas to develop.
The Venture Fund is interested in enabling talented developers to sell their products not only at home, but also to become interesting for the global market. Many of the startups that the company has invested are already successfully working and developing products for businesses in various areas.
