Movens Capital

Movens VC in 2020 — AI/ML & eCommerce companies

In less than six months, we made six investments. We invested a total of about EUR2.1m, which gives EUR350k exposure per company. Each of the companies has powerful international potential. Five of our six companies make substantial use of machine learning and/or artificial intelligence algorithms.

Despite the ongoing COVID-19 pandemic, the value of investments in the Polish VC market increased by more than 70% and exceeded PLN 2,100 million/~EUR500m (more than a 10-fold increase compared to 2018).

It was also a very active year for us. Movens VC ends this year with six investments. All of them have great chances to become leading global or European players. In line with our strategy, five of our investments went to companies using AI/ML algorithms to revolutionize large industries on an international scale. We strongly believe that such companies are worth building in Poland/CEE.

In this context, we are delighted with international VC investors’ great interest in this area. Take a look at Crunchbase. Nine out of fifteen largest rounds in Poland-based startups in 2020 went to companies that see their advantage in using machine learning or artificial intelligence. These are Infermedica, Nomagic, Applica,, Versabox, CashDirector, edrone, VoiceLab, StethoMe. Not far from them are Nethansa (HQ in Germany, but most operations in Poland) and


Movens VC launched operationally on July 3, 2020. In less than 6 months, we made 6 investments. We have invested approximately EUR2.1m, giving EUR350k commitment per company (we anticipate follow ons).

Two of our startups are growing rapidly, taking advantage of the surge in #eCommerce. Two others are #automating white-collar jobs and one is growing from the #reindustrialization trend in Europe and the need to accelerate the robotization of factories. One company has the potential to be one of the fastest-growing #medtech startups in Europe.

StethoMe — the first digital stethoscope (AI/ML) offered in a SaaS model (EU certification). At this stage, the company is focused on solving the problem of about 10 million children with asthma in Europe who require constant monitoring. StethoMe allows to identify listening anomalies without leaving home and to keep the entire history of the child’s tests. — the company operates a platform in the market of AI solutions for call centers/contact centers in the EU and US. It enables the easy launch (no-code approach) of voice bots, generating significant savings for its clients and significantly increasing customer service quality.

Versabox — implements fully autonomous robots for use in intralogistics in factory floors and systems for managing fleets of such vehicles. The company actively sells its robots in CEE and commences sales in Western European markets.

Attention Insight — our first investment in Baltics. It’s an AI-powered company that revolutionizes how UI/UX designers create websites/ads/video materials. Thanks to its pre-launch design analytics, any creative can be optimized X100 faster, X100 more cost-effective in comparison to the traditional approach. The platform has already 6000+ users globally.

Vue Storefront — the fastest-growing eCommerce frontend project on GitHub (7.8k developers follow them), 250 e-stores, and 40k downloads monthly, 3x growth Y2Y) and over 100 partner agencies globally. EU-Startups announced VSF as one of the most promising Poland-based startup stars to watch in 2021.

Nethansa — AI-powered sales automation platform to maximize manufacturers and resellers gross margin on Amazon. 70k MRR in DEC, 3.5x growth Y/Y.

Finally, it is worth noting that after several years, the leader’s place in the Deloitte Technology Fast 50 Central Europe list was taken by a Polish company. It is Packhelp (achieved revenue growth in the last four years at 9,077 percent). The company was one of the first startup investments of Movens’ partners — even before the VC fund was launched.

Our investment scope

We have EUR13m to invest in Polish/CEE technology companies at an early stage of development and with the potential to expand their business on a European or global scale. We believe that Polish technological talent backed by adequate funding and a strong network with Western VC funds has the potential to build groundbreaking international companies.

Our investment ticket is up to EUR1m. We most actively analyze marketplaces, SaaS, and enterprise software. In terms of industries, our most robust competencies are in fintech, martech, ecommerce support, logistics, industry 4.0, medtech and sports & wellness, but we are not closing ourselves off to other sectors.

Most of our team are ex-entrepreneurs, who built up tech companies. We are close to the hands-on model, where we try to actively share our expertise to back founders in building fast-growing startups.

We are happy to co-invest with other value-providing funds and in the earliest stages with business angels.

Support for companies

We are super serious about offering support to our portfolio companies. We will not do the homework for our Founders, but we can help in many areas to get the company on the path to exponential growth.

A few examples of Movens’ initiatives:

  • We have established several hundred new direct relationships with Western VC funds — the key to securing further funding rounds;

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If your startup fits our investment thesis, you can apply here:

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You might follow us on Crunchbase and Linkedin.

Movens VC is an early stage fund (Seed/Series A), that supports the most ambitious founders in the first steps of building global startups —