Vilnius-based Walk15, a sustainable mobility startup, announced on Thursday, February 15, that it has secured €1M in a fresh funding round, marking the second investment within three months.
Coinvest Capital, a venture capital fund, led the investment alongside the “8NGLS” syndicate, comprising 32 angels spearheaded by Justinas Pašys, CEO of “PVcase.”
The Lithuanian company will use the funds for expansion into the German market. Earlier this month, “Walk15” opened the doors of a new office in Berlin.
The announcement comes a few months after raising €500K at a valuation of €15M from investors Mantas Mikuckas, co-founder of the Lithuanian unicorn “Vinted”.
Walk15: Promoting sustainable movement and living
Founded by Vlada Musvydaite-Vilčiauskė, Walk15 is a sustainable activity platform offering steps challenge solutions for companies.
The solution helps organisations to solve the problem of low employee involvement in physical activity and the need for more education about sustainability.
The company actively engages with employees and clients of companies, community members, and educational institutions in sustainable mobility activities across markets including Lithuania, Latvia, Estonia, Denmark, Romania, Germany, the United Kingdom, and beyond.
The list of strategic “Walk15” partners and clients includes international organisations and businesses such as Euroleague, “ERGO”, “PENNY”, unicorns “Vinted”, “Nord Security”, and others.
As per the company’s claims, it is calculated that more than 10,000 step challenges have been created over the past four years.
The startup has recently united more than 640,000 users and 1,300 businesses and organisations worldwide.
“We are growing very fast – our client geography, the attention of international investors, and our portfolio of competencies evidence this. On a global scale, we address the problem of decreasing physical activity in society and the resulting personal health and healthcare system issues at the national level. I thank the business angels of Lithuania for their continuous support and belief – the latest investment for our team will allow us to reach one of the most important world markets – Germany”, says Vlada Musvydaite-Vilčiauskė, founder and CEO of “Walk15”.
The investor
CoInvest Capital invests in startups and companies undergoing business development and growth in cooperation with groups of business angels or private venture capital funds.
The fund caps its investment return to 6 per cent annually during the investment period. Excess return is a premium to private investors who co-invest with the Fund.
“This investment was driven by three key factors: sustainability, global reach, and women’s empowerment. We concluded negotiations for the investment with the founder of the startup, Vlada Musvydaite, according to the philosophy of “Walk15” – with a one-and-a-half-hour walk late in the evening in the beautiful Old Town of Vilnius. The results achieved by the entire “Walk15” team, high-quality business and risk management, strategy, Vlada’s personality and enthusiasm, the global and unrestrained vision to make healthiness an everyday habit for everyone, inspire and unite all investors into a strong support team, says Viktorija Trimbel, CEO of Coinvest Capital.
Read the orginal article: https://siliconcanals.com/news/startups/lithuanian-startup-walk15-raises-1m/
