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The Venture Codex

Paua Ventures

Linienstraße 40, Berlin, 10119, Germany

Overview

SquareOne is a venture capital firm focused on pre-seed and seed investments in B2B technology. Typically the first institutional investor on the cap table, SquareOne provides a unique first-customers-guarantee to all its portfolio companies, acting as an entrepreneurial sparring partner and hands-on supporter from day one. With its network of leading executives, tech entrepreneurs, and investors, SquareOne builds the foundation for large and profitable category leaders in B2B software and deep tech businesses across Europe and counts companies like Stripe, Pipedrive, Carbon One, and Wandelbots as part of its portfolio. The Berlin-based VC, formerly known as Paua Ventures, was founded in 2010.

Total investments
47
Lead investments
12
Investments · 12mo
3
Active investors
6

Sector focus

  • Artificial Intelligence (AI)
  • B2B
  • Enterprise Software
  • Finance
  • Financial Services
  • SaaS
  • Venture Capital
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Investment portfolio

  • Graph Therapeutics

    Participated · Equity · Jun 2026

    Graph Therapeutics develops precision therapeutics for inflammatory and immune-mediated diseases by combining perturbation modelling of complex live patient samples, functional and multi-omics profiling, and advanced machine learning in a proprietary "lab-in-the-loop" AI platform. The company uses insights derived directly from patient tissue to identify disease mechanisms, novel therapeutic targets, and biomarkers to inform differentiated therapy development. Graph has validated and de-risked its platform with clinically relevant biological models and is advancing an internal pipeline of precision drug candidates across multiple indications. The maturity of the platform also creates opportunities for strategic partnerships and out-licensing to extend the technology beyond its internal programs. Financially, Graph has raised more than $10 million to date, comprising equity investments and non-dilutive grant funding.

  • Flinn

    Participated · Series A · Feb 2026

    Flinn.ai is a Vienna-based software startup focused on streamlining regulatory and quality management for MedTech companies through artificial intelligence. Its cloud platform automates tasks such as post-market surveillance, literature evaluation, incident reporting, and compliance with European MDR/IVDR standards, enabling faster and more efficient product lifecycles. Current enterprise customers include industry leaders Carl Zeiss, Philips, and Paul Hartmann, underscoring early market adoption among large manufacturers. By reducing manual effort in compliance activities, the software targets quicker market access and lower operational costs for its users. The company plans to direct newly raised capital toward scaling operations and accelerating product development. No revenue or user numbers were disclosed, but the presence of notable clients indicates early commercial traction.

  • Ultralytics

    Participated · Series A · Sep 2025

    Ultralytics builds and maintains the Ultralytics YOLO (You Only Look Once) family of open-source computer-vision models, which enable real-time object detection and image segmentation at the edge. Its technology is deployed across industries such as agriculture, manufacturing, healthcare, robotics, retail, logistics, and autonomous driving. The company’s models have attracted over 1 million developers, receive more than 2 billion daily usages, and have earned 115,000+ GitHub stars, making the repository the world’s fifth most-starred in GitHub’s 2024 Octoverse Report. Profitable since inception, Ultralytics introduced an enterprise licensing model in 2023 that supports secure, large-scale deployments for customers including Siemens, STMicroelectronics, and Duolingo. The firm has registered 115+ million Python package downloads and continues to expand its commercial footprint without heavy prior funding. With fresh capital, Ultralytics plans to accelerate YOLO R&D, scale its enterprise solutions engineering and go-to-market teams, and deepen its ecosystem of application-layer products. The company will also grow community engagement through initiatives such as its annual YOLO Vision event in London. Ultimately, Ultralytics’ mission is to simplify and democratize AI, bringing high-performance vision capabilities to organizations worldwide.

  • C1 Green Chemicals

    Participated · Equity · Mar 2025

    C1 Green Chemicals AG is a Berlin-based cleantech startup founded in 2022 that develops climate-friendly chemical production processes using a quantum-chemistry platform. Its first spin-out is a proprietary homogeneous methanol catalysis that aims to disrupt a century-old chemical production process and unlock non-fossil feedstocks. The company positions green methanol as a key route to defossilise shipping, aviation and carbon-based chemical production and cites a market projection of ~€183 billion per year by 2050 with CO2 savings of several gigatons annually. C1 plans to build the world’s first demonstration plant for homogeneously catalysed methanol, with construction slated to start this year. The company has recently recruited experienced chemists, chemical engineers and project managers from firms including Linde, BASF, Clariant, Shell and Tesla. Financially, C1 has secured fresh capital to commercialise its technology and advance demonstration-scale deployment.

  • Phase

    Participated · Equity · Feb 2025

    Phase builds a no-code WYSIWYG platform that enables UI/UX and product designers to create fully interactive website and app simulations and export production-ready UI code. The company launched its first product, a UI animation tool positioned against Adobe After Effects and Figma, and says the software can produce complete prototypes that behave like real products. Phase plans to roll out three additional tools — UI advanced prototyping, UI design and UI code export — across this year and next to streamline the end-to-end design workflow. The startup pursued a region-by-region go-to-market, soft-launching in South Korea where it found roughly 10,000 testers within weeks out of an estimated 100,000 designers. After opening a global beta and stabilizing the product, Phase says it is moving out of beta and prioritizing expansion into the U.S. and European markets. The company raised $13 million in funding in the round reported here.

Team