The Venture Codex

Participated · Series B · Jan 2024

Founded in 2023 in Stockholm, Aira provides vertically-integrated air-to-water heat pump systems, bundled financing options, full-service installation and a 15-year guarantee to households. The company has rapidly expanded beyond Sweden into Germany, Italy and the United Kingdom and now operates 18 regional hubs and four training academies for heat-pump technicians. Management forecasts an annual sales volume of €200 million and the workforce has grown to roughly 1,200 employees. New capital will be channelled into R&D at the Swedish innovation centre, increased manufacturing capacity at its Wrocław, Poland facility and deeper market penetration through strategic energy and housing partnerships. Aira positions itself to tap a European heat-pump market expected to exceed €150 billion by 2030. By replacing gas boilers with its heat pumps, households can cut heating costs by up to 40 % and CO₂ emissions by up to 100 % when using green tariffs.

Participated · Series D · Sep 2018

Founded in 2008 in Vilnius by Milda Mitkute and Justas Janauskas, Vinted began as a clothing exchange platform and expanded into categories including electronics, books, toys, and video games across multiple European markets and beyond. The company combines its core marketplace with an integrated ecosystem of shipping and payments services, including offerings such as Vinted Go and Vinted Pay. Vinted has scaled into a large marketplace, became Lithuania’s first tech unicorn, and reports a profitable business with sustained cash flow. Because of its cash-generative position, the company has funded growth from existing resources and did not issue new primary capital in the recent transaction. Vinted aims to continue expanding its reach geographically and to support broader adoption of second-hand consumption. The company used the recent secondary share sale to provide liquidity to shareholders and employees and to strengthen its long-term institutional investor base.

Led · Series A · Mar 2018

Nebenan.de operates a neighbourhood-focused social network designed to build functioning relationships between people in the same area. The platform has over 800,000 users across more than 6,000 neighborhoods. Co-founded by Christian Vollmann and Till Behnke, the company also operates the French neighbourhood network Mesvoisins.fr. Nebenan.de plans to expand into other European countries and to strengthen its market position in Germany and France. The company intends to use the new funding to develop and operationalize its business model and grow its market presence.

Led · Series E · Aug 2016

Notonthehighstreet.com operates a curated marketplace that connects customers to small creative businesses offering a selection of unique products and craftsmanship. The company focuses on a core gifting offer and sells across multiple categories through its online platform and offline initiatives. It plans to use recent funding to invest in technology, innovation, marketing and operations to develop the customer experience and expand partners' access to new markets. Founded in 2006 by Holly Tucker MBE and Sophie Cornish MBE, the business is led by CEO Simon Belsham. The company employs a team of over 250 at its headquarters in Silicon Upon Thames, South West London. The recent financing is positioned to support product, category and experience expansion rather than to cover operating distress. notonthehighstreet.com is an award-winning online marketplace offering curated collections of original and inspiring products from small creative businesses. The platform has grown from an initial network of 95 partners to over 3,000 small business partners, who sell more than 50,000 products between them. Now in its sixth year, the company focuses on high-quality, unique products and supporting talented small UK businesses. The funding will be used to continue growing the offering and brand while investing in technology to remain at the forefront of innovation. The company recently launched multi-currency functionality to reach consumers globally and plans further international expansion alongside accelerated UK growth. In addition to its digital activity, notonthehighstreet.com will produce eight themed catalogues this year and launch its first national TV advertising campaign on 28 May 2012. Notonthehighstreet.com operates an online shopping site that lets consumers buy products from a network of small businesses through one basket and checkout. Many listings are exclusive deals the company arranges with participating small sellers across categories like home & garden, fashion, jewellery, and weddings. The company says it hosts products from about 1,600 small businesses and lists over 35,000 products. It reported over 420,000 unique visitors in July and a 150% turnover growth in the first half of the year. The new funds will be used to hire employees and continue developing its technology platform. The company was founded in 2006 and is UK-based.

Participated · Series A · Mar 2016

Medical Departures is a medical service marketplace that allows patients to find, compare and book medical appointments around the globe. Its online platforms, Medical Departures and Dental Departures, let patients compare photos, prices, real patient reviews, videos and medical certifications 24/7. The company offers access to over 5,000 doctors and dentists across 33 countries and has served more than 50,000 global patients. Established in 2014 by CEO Paul McTaggart and based in Bangkok, Thailand, Medical Departures intends to accelerate growth in destinations such as Southeast Asia. In March 2016 it completed a $2.5M Series A financing to support that expansion.