The Venture Codex

Led · Equity · Oct 2024

NatPower is an independent developer of renewable energy projects that provides development services to corporates, utilities and investors worldwide. The company works across core energy-transition technologies including solar, onshore wind, energy storage and hydrogen. Founded in 2019, NatPower operates from offices in Milan, London and Washington D.C. and is active in countries such as Italy, the UK, the United States, Kazakhstan and Chile. It employs more than 70 people across three continents and has built a significant project pipeline. The company reports about 1.2 GW of projects at Ready-to-Build stage and roughly 2 GW at preliminary stages. NatPower is positioned to expand development of storage projects, notably in the UK, through recent strategic arrangements.

Led · Equity · Oct 2024

Kodano Group manufactures optical lenses and distributes eyewear and contact-lens products through an omnichannel model that combines more than 100 owned and franchise optical stores, a leading online store for contact lenses and glasses in Poland, and 100 contact-lens vending machines. The company operates e-commerce sales in Romania, the Czech Republic, Slovakia, Hungary and Lithuania and is expanding its franchise network. Kodano runs an in-house laboratory where it produces optical lenses and is investing to broaden its product range and improve profitability. Management plans to accelerate expansion into European markets by growing its network of stationary stores in selected CEE markets and boosting e-commerce sales across Europe. The group is also developing its automated vending machines and a companion mobile app to provide faster customer access to selected products. Kodano recently secured new capital to fund these initiatives.

Led · Equity · Oct 2024

Kodano Group is a Polish manufacturer and distributor of lenses and eyewear frames with over 100 own and franchise optical stores. Founded by Mateusz Matula and Jacek Młodawski, the company is expanding its e-commerce model across the CEE region. It currently operates in Romania, the Czech Republic, Slovakia, Hungary and Lithuania and is targeting additional European markets. Kodano secured €9.3M (PLN 40 million) from the Vinci Da Gama Fund to accelerate its European expansion and to develop a laboratory for producing optical lenses. Planned uses of the funding include expanding the franchise network, scaling e-commerce, and developing automated contact lens vending machines integrated with a mobile app to provide near-instant customer access. The company expects the laboratory and broader product range to increase profitability as Europe’s eyewear market grows.

Led · Equity · Mar 2024

SP Tech Solutions builds the Raily system suite for rail transport optimisation, comprising Raily Taxi, Raily Cargo and Raily Marketplace that can be used independently or together. Raily Taxi automates organisation and optimisation of traction teams; Raily Cargo provides integrated railroad resource management and freight planning with business intelligence; Raily Marketplace enables searching and booking of traction services, technical inspections and hiring route-qualified drivers. Founded in 2019 by Michal Pawlowski and Piotr Sikorski, the company’s revenue grew nearly 1000% over the past two years to about €9.52 million in 2023. Clients include PKP Cargo, Lotos Kolej, Olavion and Laude Smart Intermodal, and SP Tech has completed initial projects with German companies. The company has raised almost €19 million to date and plans to intensify operations in the Polish market while expanding into Western Europe. Planned investments include developing AI-enabled technology and increasing headcount by roughly 50%, with hiring focused on sales, marketing and development.

Led · Equity · Jan 2023

Hype is the developer behind France’s first integrated hydrogen mobility platform and an operator of a large hydrogen taxi fleet. Launched in Paris in 2015, Hype has operated what the article calls the world’s largest fleet of hydrogen‑powered taxis for the past seven years. The company integrates hydrogen supply, production, distribution and uses with taxis as the initial market. Hype plans to deploy its platform in 15 other regions across France and around the world by the end of 2025. Under a strategic partnership with VINCI Concessions, VINCI Energies will be Hype’s exclusive partner to build new hydrogen production and distribution infrastructure in the Greater Paris area. The partnership anticipates opening 26 refuelling stations with locally produced hydrogen in the next three years, including 20 stations with a capacity of 1 tonne per day. VINCI Concessions will also support Hype’s expansion of its station network in France and abroad. VINCI Concessions has invested €15 million in Hype through instruments providing access to capital alongside strategic partners HRS and McPhy.