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 While millions of songs are now available at your fingertip, what happens after that remains outdated and underexplored.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.


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.


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.


Talos Raises €200k to Turn Tablets to a Full Avionics Suite

Tablets and smartphones have built-in sensors that few people know about, and even fewer use to full effect. Yet you can now safely fly an aircraft using only your tablet, without any of the expensive dedicated instruments that surround most cockpits. This is the promise and the offering of Heraklion-based Talos Avionics. Using proprietary probabilistic algorithms, Talos achieves sensor fusion in tablets and smartphones, which is reliable enough to fly and navigate.

Aviation enthusiasts Pantelis & Lefteris Georgiadis, father and son cofounders, are about to launch a glass cockpit for light aircrafts that really works. The app is expected to become available on both iOS and Android devices within the next few months. Their next product will be a complete flight information system for gliders, a market for which nothing similar exists at the moment. The underlying core technology is also applicable to racing cars, or sailing; literally, the sky is the limit.

JEREMIE Openfund II has invested €200k to enable the company to perfect its initial products, and to gain traction in the aviation community within the next few months. We have just fastened our seat belts.


Incelligent Secures Pre-seed Funding for its Wireless Broadband Network Management System

Operators of wireless/mobile broadband networks (WMBNs) all face one fundamental problem: costs are increasing faster than revenues. The demand for traffic is growing more than ever before, while at the same time it is highly variable in time and space. High capital expenditure is needed to accommodate that traffic and increasing operational expenditure to manage a network of surging complexity, while there is increasing excess capacity in many parts of the system, which results in waste of energy and operating costs. The founding team of Incelligent, an Athens-based startup, has developed a management system for WBMNs to address this problem.

Some automated solutions already exist for self-organizing networks (SONs), but they cannot respond in real time and with the needed reliability to actual conditions, especially since complexity continues to increase. Incelligent goes further, combining existing edge technologies with knowledge, in order to reach faster, automated, predictive and more reliable decisions with respect to the allocation of resources (e.g., power, spectrum), selection of cells and radio access technologies. It converts legacy and emerging WMBNs to intelligent, automated, agile, cost- and energy-efficient systems. It is real-time, i.e. it will act dynamically, during the system operation, and it is knowledge-based because it exploits acquired contextual data and previously made decisions, in order to instantly match the best possible solutions to situations, which are encountered.

Among the founders of Incelligent, Dr. Kostas Tsagkaris and Dr. Serafim Kotrotsos, who combine a strong research background with business experience in the telecommunication software industry, expressed their enthusiasm for the collaboration with Openfund. Openfund will invest €80 thousand in pre-seed capital to support the team as they build and validate a functional prototype. We are very excited with the prospect that this company can become a leading-edge technology provider to the telecoms industry worldwide.


Discoveroom Raises €300k to Become The Tool of Choice for Small Lodging Owners

There is still a broad strip of the accommodation industry that largely remains untapped by the web, in an era when online travel agencies dominate hotel bookings, while marketplaces provide access to private houses.

Hundreds of thousands of lodgings, bnbs, inns or rooms to let -however they are called- are servicing millions of guests worldwide, despite being stuck with legacy tools, that make it hard for them to get discovered and hard to manage. To give an example, in Greece alone there are about 40 thousand “rooms to let” facilities. Most of them do not have an online booking option, as a result of managing their reservations on paper ledgers or raw excel files.

Discoveroom comes to change the scene and help this sector flourish. With a mobile app for reservations management that has been built from day one with small lodging owners in mind, it provides a solid basis to make lodgings’ operations efficient, for owners and guests alike.

The first version of the app for iOS and Android was released a couple of months ago, and is already being used by hundreds of lodgings, mostly in Greece, but also in geographies as disparate as South Africa, Malaysia and Alaska. What follows in the product roadmap is channel management and a internet booking engine, along with a consumer website aggregating lodging room inventories.

Since receiving a preseed investment of €100k last October, Nikos Anagnostou, the founder, has been instrumental in building a great team and a product that works. On the basis of the above, we are excited to announce we proceeded to a seed investment of €300k, to enable Discoveroom to grow and give this special part of the accommodation industry the attention it deserves.


Tapely brings taste back to online music

Music is much more than sound. Listening to an artist’s album and falling in love with the album’s artwork, or back in the day, discovering new music from a friend’s handmade mixtape, brought excitement long before the music played and continued well after that.

The transition to online revolutionized delivery and bundling, yet it truncated the music experience. Today, we have millions of songs available just a few key strokes away. Yet again, a search bar cannot create feelings and recommendation algorithms can only get you so far when it comes to taste. All in all, we are still at the MS-DOS era of music online – just check the look of online playlists.

Tapely comes to restore feelings back to music on the web. It’s a simple idea: Create and share personal, visually stunning mixtapes curated by people who love music. Pick some songs from online sources like Youtube and SoundCloud, add visuals like a background image, custom text and colors and you’re done. Yet, it can get you a really long way. Check this mixtape for example, or this one, or even this. You get the idea.

Alex Nikolaidis, the founder, left his senior consulting career at PwC to learn coding and build Tapely from scratch. When he appeared –along with a Velvet Underground LP– in front of us a few months ago, he had a prototype with thousands of passionate users and uniquely themed mixtapes. Correct, all these were music to our ears.

Tapely, now a team of four, embarks on a trip to become the default way to share music online. Truth be told; it is a crowded market, and a bold vision. But, here at Openfund, we are truly excited to partner with Alex and team and contribute an initial investment of €200,000. Now, let the music start.


Pockee Raises €100k to Bring FMCG Coupons to Your Smartphone

Over the past few years, we have received literally dozens of submissions in the mobile couponing area. For a number of reasons, every single time we passed. That was until we recently met Zissis and the Pockee team.

Zissis Tsairelis, the founder, was pursuing a marketing career at Procter & Gamble. During it, he came to realise first hand the challenges and inefficiencies of FMCG couponing for consumers, retailers and brands alike. To provide some context, the biggest innovation in grocery couponing during the last 125 years has been the shift of printing them online.

Zissis came up with an idea on how to make things work for everyone involved, quit his job, set up a top-notch team and here we go. We were excited to hear at last an idea that makes sense in this industry, and become part of Pockee’s vision.

Pockee brings coupons of popular FMCG brands right to your smartphone. Next time you visit a supermarket you check in, see the list of available offers, pick and scan the products you prefer and get the discount right to your bank account. Yes, an app that really makes you money.

At the same time, Pockee integrates with big supermarket retailers to validate transactions, while offering a platform to brands to facilitate coupon marketing the way it should be.

The app will become available featuring a number of well-known brands in various supermarket retailers across Greece within a few weeks. We really feel enthusiastic about the team’s progress so far and the opportunities lying ahead. Welcome, Pockee!


The spring Call for Proposals is now open – Apply by May 20

After a lot of hard work to make the new rounds for Workable and Locish , as well as a series of new investments, we are now ready to resume our focus on pre-seed applications.

We currently have open two tracks:

  •   –   Pre-seed , where founders may submit their ideas or half-finished products
  •   –   Seed, for founders with completed products and some revenues, seeking to grow their business further

The call will remain open until May 20th, a date after which we will start the intensive processing of this batch’s proposals. Initial feedback can be expected ahead of that.

Necessary ingredients for the pre-seed stage are: entrepreneurial teams based in (or willing to move to) Greece, with innovative ideas for software products that target significant, international markets. As an indication, we offer €50k-€100k, on top of our continued commitment to support.

Entrepreneurs or startup enthusiasts not ready to come up with their idea may consider applying for a job at one of our portfolio companies. CVs received here are visible to all of our Founders.

We look forward to working with you, to help you turn your ideas into successful businesses.

Should you have any further questions before submitting, do not hesitate to contact us .


Locish raises $820k to take its near realtime Q&A app stateside

locish logo

Our first contact with Locish was in a coworking space which its dedicated founders, Alex and Greg almost inhabited while continuously releasing small iterations, testing the assumptions thereof. We saw back then that their methodology and dedication was second to none and soon after we decided to become the first to invest in their vision.

Since then, Locish has launched in San Fransisco, New York, and –yes- Athens, providing travelers with customized tips regarding where they should go for food or a drink when visiting a new city. But beyond that, we quickly found out that even locals wanted to use it to find out about new places in their own city. The experience of users asking questions and receiving customized suggestions is a deeply engaging one.

Apparently Locish works, and they just announced one of the largest uprounds we’ve ever had. In the new round Odyssey Jeremie Venture Partners and Jeremie Openfund II as well as angels including our mentor Thanos Triant participated.

With the funds raised, the startup will relaunch with a completely redesigned application and expand further in the US market. Its renewed focus: finding where you’ll eat or drink next by bringing you answers from people like you.