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The Venture Codex

Underline Ventures

12 Vuetului street, District 4, Floor 3, Bucharest, Bucuresti, 00000, Romania

Overview

Underline Ventures partners at the earliest stages with Eastern European founders building high-growth startups with global ambitions. Underline Ventures invest at the seed stage (pre-seed, seed, late seed) along with other investors, which we can also help you find. Our average cheque is €500k.

Total investments
13
Lead investments
2
Investments · 12mo
3
Active investors
5
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Investment portfolio

  • Embedd

    Participated · Seed · Aug 2026

    Embedd develops a platform that turns chip documentation into digital twins of hardware to accelerate software integration across devices such as robots, vehicles, drones and medical devices. The company says its platform reduces firmware and integration timelines from months to roughly three weeks and can deliver production-ready software for a given chip up to six times faster than manual processes. Embedd launched commercially in April 2026 and has already signed semiconductor customers, including Microchip Technology, to enable support for ecosystems like the Zephyr real-time operating system. The startup was founded by Ukrainian entrepreneurs Michael Lazarenko, Maxim Gorinov, and Valentin Gololobov, who previously ran a hardware company together. With the $2.7 million pre-seed funding led by Seedcamp, Embedd plans to expand its platform and deepen partnerships with semiconductor companies as it pursues broader adoption in robotics, automotive, manufacturing and medical device markets.

  • Almetra

    Participated · Series A · Jun 2026

    Almetra develops a manufacturing intelligence platform that combines AI-powered overhead cameras, machine data, IT systems and operator knowledge into a single source of operational intelligence for production lines. Its cameras process video locally to produce structured metrics such as cycle times, output rates and equipment utilisation, with built-in worker privacy through anonymisation and retention of only short randomized snippets for root-cause analysis. The companys proprietary models are trained specifically for industrial production environments and adapt to customers processes without requiring full IT integration. Almetra plans to broaden its automation capabilities and pursue robotics applications in selected production environments, and is using recent funding to expand into the US and advance product development. The company raised €16.3 million in a Series A led by blisce/, reflecting an early growth funding stage to scale technology and deployments.

  • DesignVerse

    Participated · Seed · May 2026

    DesignVerse develops an AI-powered platform that generates software using customers’ existing design systems, component libraries, technical documentation and internal rules to produce applications aligned with current architectures and engineering standards. The platform is designed to reduce manual translation between design and engineering teams and to enable earlier validation of behaviour with stakeholders. The company targets enterprise and mission-critical environments across sectors including aviation, finance, cybersecurity and government where reliability, security and compliance are required. Founded by Andrei Manolache and Robert Dragutoiu and headquartered in Bucharest, DesignVerse has worked with early enterprise design partners during its pre-seed stage. Financially, it has raised $850,000 in pre-seed funding and more than $5.5 million in a seed round. The company plans to use the seed proceeds to expand its engineering team and accelerate growth in Europe and the United States.

  • UVIONIX

    Participated · Seed · Feb 2025

    UVIONIX develops U-Vee flying robots that use AI and deep learning to monitor inventory levels in real time and build digital replicas of warehouses. The system is designed to eliminate manual stock checks, reduce errors, cut costs, and streamline logistics operations. The company is led by founder and CEO Boris Iskrev. With the new funding, UVIONIX plans to accelerate its product release and expand its market presence across the US and Europe. The startup is focused on forging strategic partnerships with major logistics and retail players to scale deployments across multiple industries. Financially, the company has just closed a $3.5 million seed financing to support these initiatives.

  • Turneo

    Participated · Seed · Sep 2024

    Turneo offers a hospitality platform that lets hotel and resort guests browse and book in-destination activities and transfers on the hotel website or app. The platform provides hotels with a single interface to create and publish activities, partner with local providers, and review activity data, insights and guest reviews. The company was founded in 2022 by Matija Marijan, formerly Senior Director of Strategy at Expedia, and Fran Kauzlaric, and is based in London. Turneo plans to use the new funding to grow its team, expand into new markets, and deliver significant product enhancements. No operating metrics (revenue or user figures) were disclosed in the article.

Team