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The Venture Codex

bValue

Ul. Puławska 2, Warszawa, Mazowieckie, 02-566, Poland

Overview

bValue Fund is a specialized growth equity investment firm partnering with tech, tech-enabled, and innovation-driven businesses in Central and Eastern Europe. Managing a growth equity fund, bValue focuses on providing growth capital to ambitious entrepreneurs in the CEE region. The fund prioritizes fostering innovation and digitalization, offering regional category leaders seeking international growth a unique blend of strategic and tactical support.

Total investments
7
Lead investments
5
Investments · 12mo
0
Active investors
7

Sector focus

  • Financial Services
  • Information Technology
  • Internet
  • Internet of Things
  • Marketing
  • Venture Capital
  • Web Design
  • Web Development
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Investment portfolio

  • Innential

    Led · Seed · Apr 2023

    Innential offers organizations the ability to map and analyse competency needs, link them with educational content through personalized growth plans, and monitor career progress. The company positions its product similarly to AG5, covering diagnostics, personalized educational resources and progress tracking. Innential says its goal is to make it easy for companies to create career development experiences that grow and retain top tech talent, according to co-founder Daniel Carter. The startup counts clients including Nortal, Luko and SMA Solar Technology. It plans to use the new funding to increase its technical capabilities and strengthen its sales teams across the Polish and broader European markets, and for “other things” as well. The company is Berlin-based and operates in the e-learning, business training and performance management space.

  • Aggero

    Participated · Seed · Mar 2022

    Aggero is a London-based company that connects brands and advertisers with the gaming/e-sports streaming industry via analytics and monetization mechanics. Its platform helps brands find and measure the performance of key streamers to maximize advertising spend and unifies partnership management, monetization systems, and measurement. The startup plans to use the funding to further develop its existing technology stack and press forward with R&D projects that include AI integrations, creator monetization tools, and Metaverse applications. Aggero raised a $2 million seed round led by LAUNCHub Ventures, with GapMinder, SCM Advisors, Klaas Kersting, and Phil Mohr participating. The new investors join existing backers bValue, Founders Factory, Engine Media, and a host of angel investors including Sundance DiGiovanni, Todd Harris, Craig Fletcher, Chris Chaney, Wouter Sleijfers, Joe Zhou, Darrel Lewis, Malin Stefanescu, Dan Ghita, and Octavian Patrascu. To date the startup has raised $3.3 million and is led by CEO and founder Cristian Manea.

  • XVision

    Led · Seed · Feb 2022

    Rayscape develops a complex AI-powered digital assistant that aids radiologists in analyzing medical images such as chest X-rays and lung CT scans. Its tools include automatic detection and tracking of lung nodules to improve diagnostic speed and accuracy. The company was co-founded in 2018 by Andrei Tenescu, Bogdan Bercean, Cristian Avramescu, and Stefan Iarca and is based in Timisoara, Romania. In March 2024 Rayscape raised $500K in external funding. The company plans to use the funds to fuel expansion into the USA. No revenue or user metrics are reported in the articles. XVision develops AI-powered medical imaging software focused on chest X-rays and lung CT scans to speed up and improve radiologists' analyses. The company offers two products: one for chest CT analysis and another for chest X-rays, and has proven use cases via pilot projects and accelerator support. XVision reports processing over 26,000 chest X-rays and 10,000 lung CTs per month across more than 60 clinics and hospitals, including the Regina Maria private clinic chain. The founding team of four colleagues from Timişoara Technical University combines technical and business roles and gained early traction through pilots and Techcelerator. With the new financing, XVision plans to expand into Western Europe and North America and has started assembling a sales and business development team in Germany. The company also plans to extend its product catalog beyond lungs, exploring other body parts and potential oncology use cases.

  • HeavyFinance

    Participated · Seed · Dec 2021

    Founded in 2020 in Vilnius as HeavyFinance, InSoil began by funding tractors for Baltic wheat farmers and has evolved into a data-driven agricultural lender. The company offers mid-term loans to farms adopting regenerative practices such as no-till farming, cover crops, and crop rotation, and incorporates soil science into its credit process. InSoil has collected over 15,000 soil samples and built one of the region’s largest soil carbon datasets to support credit decisions and climate tracking. Since 2020 it has financed more than 3,500 small and medium-sized farms across Europe. Over the past year the firm has completed three major fundraisings—a €50 million EIF-backed fund, a carbon-credit financing partnership, and the €120 million EIF-guaranteed institutional credit facility—demonstrating a layered capital approach. The company positions itself to scale transition financing for agricultural SMEs by combining underwriting, data, and government-backed guarantees.

  • Spin.AI

    Led · Equity · Jan 2019

    Spin.AI’s SpinOne platform combines SaaS security posture management, ransomware detection and response, data loss prevention, and backup and disaster recovery into a single AI-driven solution. The platform offers an industry-leading two-hour ransomware recovery service level agreement. SpinOne currently protects more than 1,500 organizations and over two million users worldwide, including customers such as Domino’s, DHL, and Vimeo. It covers major SaaS environments including Google Workspace, Microsoft 365, Salesforce, and Slack. Spin.AI’s CEO Dmitry Dontov framed the company’s mission as eliminating SaaS security risks before they become breaches. The company intends to scale its operations with support from K1 Investment Management.

Team