Articles for July 2013

Longaccess receives investment, builds a digital archive solution for the long-term future

Longaccess becomes the fifth portfolio company of Jeremie Openfund II. The company, founded by Panayotis Vryonis, received a €110k investment, led by Jeremie Openfund II.

The company’s mission is to safeguard and preserve personal digital archives for the long term future. The concept is to “store and forget”, while preserving data access in a quite novel way. We are quite enthusiastic about the potential of such an offering.

A talented team of three is already working on the product, with its launch expected during autumn. In the meanwhile, you may take a closer look at the company’s mission and subscribe to get its updates.


Dopios goes global to become the third step in your travel experience

Dopios (“local” in Greek), a community marketplace bringing locals and travellers together, expands its operations in a number of international destinations, along with announcing a seed investment by Jeremie Openfund II.

The company envisions to become the third step when making a trip; after booking a flight and a place to stay, it helps you find a local to connect who can show you around.

Dopios provides locals with an opportunity to meet new people and share the enthusiasm for the place they live, while making some money. At the same time, travellers get the unique chance to be treated like friends and experience a destination the way locals do.

Hundreds of experiences are already available in a dozen of destinations across Greece, next to Istanbul and San Francisco. Today, more international destinations open up, including London, Berlin, Barcelona and Buenos Aires, while locals are welcome to unlock their own city at Dopios.

Comprised of a well-rounded and committed team, going after a growing market opportunity, the company raised a seed investment round of €120,000 by Jeremie Openfund II.


Imagga raises $260k in new funds & Openfund makes its first exit

When we first met the Imagga founders, we knew there was something great going on. No matter the small team, the imaging technology the company possessed was already on par with many international efforts.

In 2010, shortly after the conclusion of the selection process, Openfund I’s executive board offered to invest in the company. The flagship product at the time was Stockpodium, but over time it quickly became apparent that a big part of the promise was the SaaS B2B business.

A couple of years afterwards, amid growing revenues and market traction, investor interest was originated about the company. We, having made a conscious decision to focus on the Openfund II, decided to take a step back and allow the company to simplify its holding structure.

Georgi Kadrev, the CEO, said:

“Openfund served us as the first people visionary enough to believe and invest in us, two years before seed funding went ‘mainstream’ on the Balkans. They exited the company to make our life simpler, when a new investor wanted to step in. However, we still feel them as friends and perceive them as one of the most knowledgeable guys about seed-funding in the region”.

You may read Imagga’s detailed blog post here.

We remain excited about Imagga’s future and we will be very happy to watch the founders become a role model for entrepreneurs in the region. At the same time, this marks the fund’s first divestment. Up to now we had significant up rounds, but never an exit before. We believe this small realization is another indication of the fund’s promise towards the future.