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The Venture Codex

Fly Ventures

Monbijouplatz 2, Berlin, 10178, Germany

Overview

Fly is a first check VC for technical founders solving hard problems. Fly invests from day-zero to seed, backing founders from all over Europe.

Total investments
51
Lead investments
17
Investments · 12mo
8
Active investors
5

Sector focus

  • Venture Capital
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Investment portfolio

  • Orbital Materials

    Participated · Series B · May 2026

    Orbital Industries uses an “AI industrial” approach combining materials discovery, engineering, and manufacturing to accelerate physical product development. Its simulation engine, Orb, models quantum mechanical behaviour of atoms at scale to speed materials simulations and product iterations. Commercially, the company is targeting data centre infrastructure via Orbital IT, developing a PFAS-free dielectric cooling fluid and a refrigeration system for high-density GPUs as well as modular off-site manufactured data centre units for faster deployment. The company was founded by Jonathan Godwin, James Gin-Pollock, and Daniel Miodovnik and is based in London. Financially, it has just raised $50 million in a Series B to scale products, grow its AI and engineering teams, and expand industrial applications beyond data-centre use cases.

  • Cirql One

    Participated · Seed · Apr 2026

    Cirql One builds a platform that extracts business context from systems and formalizes it into reusable decision-logic units that can be consumed by AI, analytics, and agentic workflows. The founders—Gregor Stoeckler, Stefan Hockenberger, and Tara von Metzen—launched the company in early 2025. Investors state the technology is already running in production with enterprise customers. The company aims to prevent AI failures caused by missing business context by making approval hierarchies, pricing rules, and other business logic explicitly available to AI systems. The recent €5 million Seed raise led by UVC Partners with participation from Fly Ventures and named angels provides early-stage capital to support the company's growth and deployments. No revenue, user, or valuation metrics were disclosed in the announced coverage.

  • GitButler

    Led · Seed · Apr 2026

    Founded by a co-founder of GitHub, GitButler is developing a new foundational layer for software development intended to better coordinate developers, tools, and AI agents. The company has published a technical preview of a command-line interface designed to support short-lived branches, trunk-based development, and other modern workflows. GitButler’s vision includes preserving context across workflows, enabling more seamless collaboration, and integrating insights from conversations, code changes, and automated processes. The Series A financing will fund expanded product development and faster rollout of features. The company has not disclosed revenue, user counts, prior funding rounds, or a valuation in the article.

  • xmemory

    Led · Seed · Mar 2026

    xmemory develops a "precision-first" memory layer that structures, cleans, and organizes data at write-time for AI workflows to improve reliability and governance. The approach aims to answer about 95% of critical business and system questions with high precision, leaving a small fraction of queries to standard semantic search. Its platform is currently in closed beta and is led by founder and CEO Alex Petrov. The company raised $4 million in pre-seed funding to support pilots with design partners and further product refinement. Investors in the round include Fly Ventures, Begin Capital, AAL VC, 33East, Inovia Capital, and a group of angel investors and mentors.

  • Zymtrace

    Participated · Seed · Mar 2026

    Zymtrace builds autonomous optimization software that increases utilization of existing GPUs to recover wasted GPU spend. The company positions its technology as an alternative to simply buying more powerful GPUs, arguing existing hardware can be made to do more. Zymtrace's messaging claims its solution can recover "billions in wasted GPU spend" and emphasizes operational efficiency. The company credits early customers for supporting product development and highlights a dedicated engineering team. Its leadership includes CTO Joel Höner. Zymtrace recently strengthened its financial position by raising a $12.2M seed round led by Venture Guides.

Team