Neo Ventures
1 Atanas Dukov str., floor 6, EN Building, Sofia, 1407, Bulgaria
Overview
Neo Ventures is the first open-ended early stage investor, based in Eastern Europe. The founders have backed more than 30 startups and exited 10 successfully. We invest in game-changing businesses, without geographic limitations. We partner with exceptional founder teams to challenge incumbents in markets ripe for change or to create entirely new markets. Neo Ventures funds and then supports the founders in business planning, scaling operations, follow-on investments, making the best of each opportunity and dealing with hard situations. Our investment focus is on data analytics, computer vision and remote sensing addressing disruptive opportunities across the high-growth SpaceTech, BioTech and Security verticals.
- Total investments
- 5
- Lead investments
- 3
- Investments · 12mo
- 2
- Active investors
- 3
Sector focus
- Aerospace
- Cyber Security
- Health Care
- Security
Investment portfolio
- Wispr AI
Participated · Series B · Aug 2026
Wispr AI is building voice-first foundation models to power Flow, a voice-to-text operating system layer that cleans filler words, structures thoughts and produces ready-to-use text in more than 25,000 apps and websites. The product’s accuracy is such that 90 % of spoken words require no edits, and after six months the average user writes 72 % of their characters with Flow, nearly halving daily typing time. The company reports 40 % month-over-month growth in both users and annual recurring revenue, and serves hundreds of thousands of users. Wispr envisions voice becoming the dominant interface and plans to expand Flow’s capabilities while hiring aggressively across engineering and product. A global partnership with “The Diary of a CEO” podcast will showcase the technology to an audience of over 35 million subscribers. Headquartered in San Francisco, the company has raised a total of $81 million from investors such as Notable Capital, Flight Fund, AIX Ventures, Menlo Ventures, NEA and 8VC. These funds will be used to scale its voice-native computing system worldwide.
- Convex
Participated · Equity · Nov 2025
Convex offers a reactive backend platform that bundles a database, functions, workflows, sync, search, and file storage in TypeScript with zero glue code. The platform emphasizes reliability by default, featuring ACID transactions, end-to-end type safety, and realtime subscriptions, and is SOC 2 Type II certified and HIPAA compliant. Convex was founded in 2021 by former Dropbox infrastructure engineers and is headquartered in San Francisco. It counts teams at OpenAI, Tripadvisor, Solana, Zapier, and Reducto as customers and powers nearly 2 million applications built by close to 500,000 developers, with over 1.2 million weekly npm downloads. The company plans to invest in agentic development tooling and expand hiring to support product development and customer growth.
- TestCard
Led · Equity · May 2019
TestCard has developed a healthcare technology platform that converts a typical smartphone into a clinical‑grade scanner to accurately read lateral flow and colorimetric dipstick tests. The company’s technology underpins consumer-facing and clinical workflows, and its first product was a UTI test‑and‑treat service distributed through extensive retail partnerships. In 2021 it partnered with Superdrug Online Doctor, Welldricks, Chemist4U, Zava, Numark, Alphega and Amazon, and in Q1 2022 it launched with Rowlands and Lloyds Online Doctor. TestCard also launched its ClearScreen Covid‑19 antigen testing solution into the NHS in partnership with Guy’s and St Thomas’ Foundation Trust, improving traceability and reducing admin time. Led by CEO Chris Craig‑Wood, the company plans to commercialize its existing product suite, launch new tests for diabetes, pregnancy, CKD and flu, and to continue investing in its technology and IP. TestCard is pursuing US expansion in early 2023 and is working on FDA approval for its first product. TestCard develops paper "postcard" urine test strips read by a smartphone app to deliver at-home diagnostics for pregnancy, urinary tract infections, blood glucose and illegal drugs. The app scans a QR code to identify the test, times development, and uses algorithms developed in Plovdiv, Bulgaria to read color changes; Roche reportedly confirmed the app's accuracy. Founded in 2017, the company has filed several patents and employs eight full-time people. TestCard plans a UK launch this summer with the postcard priced at £5 and a free app, and has partnerships with NHS London to reach 2.5M residents and with Aetna for diabetes rollouts in India, Thailand and the Philippines. The company aims to expand in emerging markets, move manufacturing to Mumbai to lower costs, and expects to enter the US in 2020. TestCard is pursuing CE marking for medical devices and recently raised additional funding to continue product development. TestCard develops an at-home urine testing service that pairs a non-invasive urine test kit embedded into a postcard with a mobile application that turns a smartphone camera into a clinical-grade scanner. Its initial applications include detection of urinary tract infections (UTIs) and pregnancy testing that provides a specific due date for positive results and an optimal date to try to conceive for negatives. The company says its product pipeline will expand to prostate health screening and monitoring of conditions like diabetes and kidney disease. TestCard is led by co-founders Luke Heron (CEO) and Dr. Andrew Botham (CSO) with George Sutherland as Chairman. The company completed a $1.7M seed financing and intends to use the funds to launch and carry out an initial roll-out phase.
- GemmaCert
Led · Series A · Feb 2018
GemmaCert develops a hardware device that enables rapid analysis of cannabis samples to support personalised and reliable dosing. The company says the device helps overcome challenges posed by heterogeneous cannabis flower and the unpredictability of cannabis effectiveness. GemmaCert plans to use new funding for recruitment and business development, with a view to hitting revenue this year. Management also intends to adapt the company’s growth in Europe to align with changing medicinal and recreational legislation. The firm highlights patient safety and consistent dosing as primary use cases for its product, per statements from its CEO and chief scientific officer. GemmaCert was founded in response to growing cannabis legalisation and is based in Israel.