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The Venture Codex

LT Capital

Zakopiańska 9/115, Kraków, Malopolskie, 30-418, Poland

Overview

We are: Industry 4.0 seed fund. Typically, we invest around EUR 250K. If necessary, we are able to bring top-tier co-investors to the table if a bigger ticket is needed. Founder-centric. Few VC's understand that founders are the ones that run the companies. We are there to help, not to replace. Heavily networked. With contacts across the globe, we are the bridge between great companies from the CEE and bigger funds and clients from rest of the world. Focused on CEE. In the upcoming years we will invest in around 40 companies in Central and Eastern Europe, with Poland being the main site of our investments.

Total investments
6
Lead investments
0
Investments · 12mo
0
Active investors
3

Sector focus

  • Financial Services
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Investment portfolio

  • Talkie.ai

    Participated · Seed · Aug 2022

    Talkie.ai develops an AI platform that automates telephone hotlines for healthcare organisations, offering voicebots for appointment booking, prescription orders, basic triage and integration with appointment and call-centre systems. Its product emphasizes rapid deployment and no-code configuration, with implementations ranging from one day to several weeks and an admin panel for full user control. The company reports its bots handle about 80% of customer inquiries and can cut call-centre operating costs by up to half; its voicebots achieve over 90% accuracy in understanding caller intent after just the first 10 data samples. Talkie.ai also uses voice cloning to make interactions more natural and offers both standard industry-specific solutions and fully customisable deployments. Founded in 2018 and operating in Poland, the UK and the US, the startup already derives more than a third of its revenue from the US. The new funding will be used to further specialise the healthcare offering, accelerate US expansion, grow the team and introduce off-the-shelf products for other industries.

  • Frontu (formerly Tasker)

    Participated · Seed · Oct 2021

    Frontu (formerly Tasker) is a Lithuanian FSM SaaS platform that digitizes frontline operations and targets industries including Heavy Equipment, Facility Management, Vending, Security, Utility and HVAC. Founded in 2014 by Arūnas Eitutis, the company has established itself as a leading FSM provider in the Baltic countries and is expanding into Poland. Frontu follows a technician-first approach, using segmented big data to move decision-making to the frontline, speed job execution, and improve customer outcomes. The company is developing AI/ML capabilities and has partnered with Kaunas University of Technology to build a virtual assistant and future autonomous technician guidance powered by AI and big data. Management notes the FSM market is roughly 30% penetrated, indicating significant room for growth as digitization accelerates. The recent financing will be used to hire talent for Polish market analysis and to accelerate product development and market entry.

  • SmartHotel

    Participated · Seed · Aug 2021

    SmartHotel is a Polish traveltech SaaS that enables contactless guest–hotel communication via regular messengers (WhatsApp, Facebook Messenger, Signal, Kakao, WeChat) without app installation. Founded in October 2019 by Maciej Prostak, Damian Dąbrowski, and Paula Pul, the product supports check-in, check-out, and handling guest issues through a chatbot-like interface. The solution requires minimal initial setup and is positioned against enterprise competitors as a lightweight, scalable SaaS. SmartHotel is active in Poland and several African countries and counts customers such as Radisson Szklarska Poręba, Hotel Saltic, Zdrojowa Hotels group, Renters.pl, and RentPlanet. The company plans to expand hiring and sales efforts to meet growing demand. Financially, SmartHotel will use the new funds to hire staff, expand sales, and cover short-term losses from pandemic-related market stagnation while adjusting pricing and sales strategies to customers' constrained budgets.

  • SunRoof

    Participated · Seed · Apr 2021

    SunRoof designs and sells building-integrated photovoltaic (BIPV) roofs that serve as both the roof material and solar collector. The company says its solar roofs are more productive per roof surface, have a lower CO2 footprint, and use fewer resources and materials than traditional roof-plus-PV installations. SunRoof provides an end-to-end energy management offering, including collection and storage capabilities. Unlike many Berlin-based panel-rental startups, SunRoof is a pure sell business and says its pricing is competitive and cheaper than a roof plus photovoltaic installation. The company intends to use new funding to bolster sales and production in its key markets of Sweden, Germany, and Poland. CEO and co-founder Lech Kaniuk frames the business as contributing to urgent energy transition and future clean energy infrastructure. SunRoof develops integrated 2‑in‑1 solar roofs and glass façades that generate electricity without traditional photovoltaic modules and are monitored via its energy app. The company acquired Redlogger in 2020 and plans to use its network of solar homes to create a virtual power plant and energy marketplace. SunRoof has grown more than 500% year‑on‑year and says it is on track for a €100M valuation by the end of 2021. The startup will use new funding to expand into Sweden, Germany, Poland, Switzerland, Italy, Spain and pilot projects in the US, and to hire 100+ people in 2021. It is working with the EU Green Deal and Poland’s National Recovery Plan and has begun accepting Bitcoin as a payment option. Founded in 2013 by Karol Kaniuk, Lech Kaniuk, Marek Zmysłowski and Rafał Plutecki, SunRoof aims to compete with incumbents such as Tesla Energy by emphasizing partnerships and an open ecosystem. SunRoof develops integrated solar two-in-one roofs and accompanying software for smart energy management. The company aims to replace traditional roofs with a modern-design solar roof that produces electricity without installing separate photovoltaic panels. It plans to launch an ecommerce platform to sell surplus energy generated by its panels, starting in the Polish market, and to expand into new European markets. SunRoof completed its first VC financing — a nearly €2 million late seed round — and investors say the company has strong regional potential. In August the startup acquired Redlogger, a Swedish firm that developed hardware and software to support renewable energy producers. Founded in Sweden in 2013, SunRoof spent its early years building and testing proprietary technology and gained momentum in late 2018 after adding seasoned entrepreneurs to the team.

  • nethansa

    Participated · Seed · Feb 2021

    Nethansa is a Poland-based SaaS platform that automates and optimises sales and logistics processes for e-commerce players. Its platform analyses competitors’ offers and optimises product prices to increase customers’ margins, and the company provides comprehensive account management support. It serves players such as Amazon and Kaufland and supports end customers in six languages. Over 100 companies are already using the tool, which has been licensed by Amazon. The startup plans to expand internationally, targeting entry into the Danish and Swedish markets and eventual broader European coverage. The newly raised capital will be used to drive product development and its international expansion. Nethansa develops Clipperon, an AI-powered sales and logistics automation platform that automates listing uploads, price management, inventory and order handling for Amazon sellers. The company is a certified provider on the Amazon Service Provider Network and Marketplace Appstore and says clients sold €45M worth of goods on Amazon in 2019–2020. Nethansa reports monthly revenues of over €100,000 and a growth rate of over 250% from 2019 to 2020, and it serves close to 100 clients across Poland, Germany, Czechia and the UK. The startup has a team of more than 40 employees and works on a monthly fee plus commission pricing model. Management is preparing a SaaS version of Clipperon to accelerate international expansion and plans to expand services to platforms beyond Amazon (e.g., real.de). The company has received an EU grant of approximately €250,000 and has applied for an additional grant related to AI-based price forecasting.

Team

  • Tomasz Jastrzebski

    Founder & Managing Partner

    LinkedIn
  • Lukasz Swiercz

    Founder & Managing Partner

    LinkedIn
  • Krzysztof Kuwalek

    Venture Partner

    LinkedIn