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.


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.


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!


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.