Resin.io raises $3M to become the de facto infrastructure of IoT devices

Those that have been involved with the tech industry longer will remember the concept of Internet of Things in various incarnations. Anyone watching would at least sense it coming long before the term was coined.

In the 90s it was vague concepts such as ambient or ubiquitous computing and the promise of intelligence in everyday objects and living spaces. Then in the early 00s it was the internet fridge that would place orders to restock itself and sensors that warn us when we water our flowers too much.

Then all this technology consolidated and entered the mainstream though the renaissance of the smartphone in 2007 with the Apple iPhone. The tremendous success of a device that was software defined and shaped for human digits enabled everyone to see the importance of a thing that is connected to the Internet. It became clearer with the Nest thermostat, the Pebble smartwatch and Tesla improving the mileage of its cars by pushing software updates to people’s homes. Intelligent devices that are defined mostly by the software they run and the ecosystem they belong to will soon be the norm rather than noteworthy gadgets or novelties for the visionary and rich.

So now it’s time to think about infrastructure again. About the roads, the shipping ports, the fiber that binds these devices together; and this is where Resin.io fits in. Resin.io lets developers forget about the hardware on which their software runs and how they will get it there.

resin logo

For the initiated it’s as simple as git push. Resin.io will then take your code to the cloud, cross compile it for the various processors that your devices are equipped with, package it in secure and elegant linux containers and eventually deploy it to your devices over the air. That’s a lot of time shaved off your workday.

In a financing round led by DFJ , in which we are happy to participate along with angels Panos Papadopoulos and Gil Dibner, Resin has now raised $3M to pursue the multibillion device industry that IoT will become in the next few years.

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Forky raises €800k to bring delicious, quality food to your door in 15′

Food expectably is one of the greatest industries out there. At the same time, it remains one of the sectors that it has only been very little disrupted by technology. Sure, in the last couple of years alone we had Grubhub and JustEat IPOs, but what’s beyond aggregating a list of restaurants and their menus?

We have known Michalis Gkontas and Petros Pitsilis for a few years now. We were respectful of their efforts to bring something entirely new to the food industry. At the same time, however, we were not sold to the concept of collaborative economy when applied to homemade meal sharing, and had decided to pass in the past.

Everything changed late last summer. The founders realized that -no matter their great efforts- they were going nowhere with Cookisto, their previous endeavour, and delivered one of the greatest pivots we have experienced in our short journey so far.

The concept is simple. As consumers, when it comes to food and while keeping price and quality stable, our purchase decision mostly comes to convenience. And convenience actually means that you don’t spend much time to select a menu and make an order, also that you get the food in front of your door as fast as humanly possible.

Within less than a couple of months, the founders built and deployed in a small area of Athens a service that brings fast to a whole new level when it comes to food delivery. You pick upon a couple of available, quality meals every day, and you have it at your door in less than 15′.

It may sound simple, yet it is not. It takes a lot of effort to deliver a Taxibeat to pick you up within a few minutes; it takes a lot more to produce and deliver a delicious meal. Yet, when it works, it is an industry-changing experience.

Early adoption has been fantastic during autumn, and nobody can argue against solid traction numbers. In this context, we decided to lead a seed round in Forky. Along with BlueWire Capital and a number of angel investors who also participated, the round eventually reached the amount of €800k.

The company is now building the infrastructure and operations to serve most part of metropolitan Athens and become a utility of its urban lifestyle. While international competition is also taking shape, we are comfortable Forky is building a unique food company and we are happy to be partners in this journey.

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Openfund increases fund size to €15m

We are happy to announce that we recently concluded a small capital increase to our current fund, Jeremie Openfund II, raising our total amount under management from €11.7m to €15.1m. About half of our existing investors participated, along with a number of new ones. We believe this extra amount makes us better equipped to address the growing opportunities of a rapidly maturing entrepreneurial ecosystem.

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Workable raises $5m, grows at full speed

It’s only been a short couple of years since our original investment in Workable—and what a couple of years it has been!

Nikos and Spyros have been instrumental in creating a world class team, now counting 40 people across Athens, Boston and London. They are building, day in and day out, a best-of-breed software, delivering value to thousands of enterprises in more than 40 countries around the globe. Quite a start, for sure.

Today, the company is announcing a $5m round by its existing investors. We are comfortable it will suffice to further accelerate its growth and to establish Workable as the tool of choice when it comes to SMEs and hiring.

It is a rare opportunity to be able to change the way recruitment works for the most part of the economy. Workable has a chance to shape how people perceive and perform hiring, and we could not be more excited to be part of this.

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Goodvidio raises €300k, makes video work for online retailers

Video is the perfect medium to engage visitors in online stores. Product pages featuring video allow shoppers to better understand a product and complete a purchase with much higher confidence. At the same time, platforms like YouTube are overflowing with videos about popular products, with brands and users sharing more content every day. For an online retailer selling thousands of products, the question is, how can they enhance product pages with the best available videos?

Goodvidio is developing an appropriate content automation solution. The service scouts social video platforms to discover the best videos available for a retailer’s products, embeds the videos approved by the retailer to product pages, measures performance in terms of visitor engagement and conversion, and optimizes video selection. By essentially offloading the whole effort to Goodvidio, retailers get a number of advantages they could not otherwise, at a small fraction of the cost.

Goodvidio, founded by Dimitrios Kourtesis & Konstantinos Bratanis, is now a team of 8 based in Thessaloniki, Greece. The first version of the product, utilizing both information filtering technologies and human curation, is already being used by top-notch local retailers. Today, we are happy to announce an investment of €300k by Openfund, to enable the company to mature its product, further grow its team and expand its portfolio of customers in several countries.

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Longaccess Raises €300k, Launches BigStash to Become the Default Archiving Solution on the Cloud

Online storage solutions are built on the paradigm of “sync”. In other words, what is stored online is by default a subset of what is stored offline.

Every day that passes, however, more data is being produced. In this context, local storage is often rendered insufficient. What’s more, its limitations with regards to security and longevity are becoming apparent to consumers – what about this old hard drive of yours? After all, online needs to replace, not just to extend offline; the problem of storage remains far from solved.

Today, Longaccess launches BigStash, a product built from the ground up as an appropriate archiving solution for the cloud era.

Offloading the rarely used files from your laptop, transferring the contents of your old hard drive to a safer place, or just making a photo archive of your last trip available to your friends and family, BigStash provides a unique, flexible and affordable solution to move your file archives entirely online.

Alongside the above, Jeremie Openfund II announces a €300k follow up investment in Longaccess, demonstrating our faith in the vision and plan of the founder, Panayotis Vryonis and his team.

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Openfund 2014 – Year in Review

2014 for Openfund has been nothing less than a gift, and a privilege. Seeing the fruits of our backers’ commitment and the efforts of the special people we work with coming into shape was an extraordinary experience. Here is some context:

photo from Openfund Founders Meetup II, a month and a half ago

– End of 2013 found us with a portfolio of 10 companies. Up to now, we have announced investments in 15 companies, and there are 5 more pending announcement soon. Already with a portfolio of 20, we expect to reach 25-30 companies by end of 2015.

– We have the privilege to back and closely work with 40 founders, in their endeavor to turn their ideas into products that have a chance to change entire industries. Seeing them struggle, learn, mature and achieve their targets -until the next one- has been a singular experience to treasure.

– More than 150 greatly talented people are currently working across our portfolio. We are humbled by the hard work of them all, and our conviction is stronger than ever that very many great things are in the making.

– Millions of consumers and thousands of companies across the globe are selecting and making good use of our companies’ products. Creating such value every day that passes lies at the heart of our efforts and business.

– By now, a couple of years after Jeremie Openfund II’s launch, we have invested more than €5m in our portfolio. We expect to invest another €2.5-5m in both existing and new portfolio companies during 2015.

– 45 entities have coinvested along with Openfund in our portfolio companies. 10 of them are funds -some small and some larger ones, almost all international- while 35 are angels, with the slight majority being related to the local scene.

It feels good to see the progress above, especially taking into account where we started from a few years ago. That said, make no mistake: Being a startup ourselves, we are still at the very beginning and we have proven nothing yet.

The stakes are now higher, and we have no option but to work hard, level up our game and deliver spectacular results. With such special people working with us, we believe we will make it. So, here’s to a remarkable 2015!

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Tapely Launches Anew, Raises €300k Seed

The landscape of online music is changing fast. At the same time, however, the rate of innovation concerning the way we actually experience music online has proved more reserved than expected. While millions of songs are now available at your fingertip, what happens after that remains outdated and underexplored.

Tapely is online music revisited, and experienced afresh. The platform pairs music with visuals and custom messages in a novel way, limited only by imagination. These basic building blocks, given to the hands of tens of thousands of users, has created what may well be a brand new medium, enabling a music experience that satisfies both the ear and the eye, essentially the soul.

A few months ago, we announced our initial investment in the company. Today, Tapely features more than 25 thousands of handcrafted mixtapes -one of the largest collections of themed music curated by real people that has ever existed-, and launches its new version, making navigation and mixtape discovery a breeze.

At the same time, we are announcing a seed round of €300k by Jeremie Openfund II. We truly look forward to bringing Tapely to the eyes and ears of millions of music lovers, and enable the team’s bold vision to change the way we experience music online. Now, please, let the music do the talking.

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Rocketgraph Raises €410k – Paves the Way for Cloud Reporting

Rocketgraph logo

The amount of data generated by various services grows faster than ever. At the same time, the prevalent way to interact with such data is APIs. Now, APIs may come handy if you are a developer, yet chances are that you are not, or you simply cannot afford the time to engineer the data view you’d like to.

That’s where Rocketgraph comes into the picture.

Rocketgraph is a one-stop shop for cloud powered reports utilizing the growing supply of APIs and spanning a myriad of industries. Just find the Rocketgraph report that matches your needs in the marketplace, connect your cloud services and go.

You can easily export your Rocketgraph report and even get scheduled emails with the most current data pulled directly from your cloud sources. As more cloud services offer APIs, more Rocketgraph reports will become available.

Dino Paravandis and Constantine Nikitiadis, founders, left a successful digital agency they co-founded 5 years ago to pursue a need they considered pressing. With an investment of €410,000 lead by Jeremie Openfund II, the Rocketgraph team will build and market its platform, with one goal in mind: to democratize cloud reporting in a unique and scalable way.

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How to Invest in a Greek Private Company

Our vehicle of choice for the investments Openfund leads is a relatively new company type under Greek law titled “Private Company” (“Ιδιωτική Κεφαλαιουχική Εταιρεία” in Greek). As our portfolio grows and a number of parties are coinvesting or following up in our companies along with Openfund, a number of questions regarding the company type and related processes arise.

To address such issues, we’ve created a document providing more details on the company structure, as well as the practical steps of executing an investment, after agreeing on a term sheet.

The guide may be useful to Greek or foreign entities willing to participate in such an investment. More importantly, it shall provide entrepreneurs with a more transparent view of the underlying process. In this regard, we are proceeding today to make this document publicly available.

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