Fil Rouge Capital (FRC) has just announced its first Croatian acceleration program – 24 selected stratups in total out of 500 applications, Croatian news portal Netokracija announced. Reportedly, each of the selected companies will receive a seed investment of €50K, making this round the largest investment in startups in Croatia. FRC on the other hand, will receive 8% of the shares in each of the startups.
This news follows the last week investment in Croatian startup Top Digital Agency (TDA), when actually Fil Rouge Capital started the investment round in Croatia since their foundation earlier this year.
Founded in May 2014, Fil Rouge Capital announced their entrance on the Croatian market this spring, in cooperation with the Croatian government and the European Investment Fund (EIF). Soon after that, the “Fil Rouge Capital Summer 19 Accelerator” was announced when the search for startups and scaleups started. Reportedly the Selection Day was in July, when 24 out of 45 pre-selected teams were invited.
“At Selection Days in July, we invited 45 candidates and selected 25 teams. Each of the teams is special in their own way and their founders at the moment show that they are mature enough and ready for this step. This investment is not just about money and programs, it’s also about validating startups and being recognized in the VC world”, says the Head of Scouting at FRC, Stevica Kuharski, Netocracija reporting, adding that the FRC predictions have been confirmed that there are a large number of startups in Croatia and the region.
Who are the winners?
Albatross – a startup that provides an electric-powered inflatable board that can be used for Stand Up Paddling. The board is suitable to be used in fresh and saltwater, both for individual needs or to be rented to various companies that rent surfing equipment.
Froc – a startup that boasts specialized child seats in a market that has been static for the last 40 years. They have just started their international expansion.
Influee – is an influencer marketing platform that connects advertisers with influencers. Brands use Influee dashboard to manage their collaborations with influencers, track posts and ROI of campaigns
Loomie.ai – is introducing a disruptive factor into the market for productivity measurement tools and applications, offering an innovative approach to managing various tasks with the help of a virtual assistant based on artificial intelligence.
Worig – is a financial service that allows property owners to evaluate the financial reliability of their tenants.
Beyond Seen Screen – a startup that developed an ExRay application that allows you to scan video content you instantly watch on your smartphone or device and quickly and easily provide you with more information about it. Like Shazam, but for video.
DGRoops – a startup that aims to be the first B2B platform to streamline the relationship between Tour Operators and all possible suppliers for group organized travel.
Floornap – The platform for low-budget accommodation within 15€. Their vision is to enable the simplest form of accommodation yet and make traveling more affordable and simple.
Nocturiglow – a startup that wants to reinterpret the ungrateful market for men’s nightstands. They are intended to freshen up unattractive vessels by enhancing their appearance with the help of modern design and elements that glow in the dark.
NOM NOM – aims to enhance the classic hospitality interface by providing a digital menu option that is directly accessible to users of smartphones and devices, thereby reducing the need for classic hospitality challenges from waiting too long for service, menu unavailability, and other consumer complications.
PlayerQuant – wants to reinterpret the way we consume video games like Fortnite by offering the users the option of tracking only relevant content.
Timeqube – launches an innovative piece of hardware solution on the market that approaches time management in a simple and original way. The Time Management cube uses three traffic lights according to the set time, and has only one button for setting five predefined periods.
The Arming Guild – the next gen head protection helmet for martial combat sports with an emphasis on HEMA, historical European martial arts.
Blocknify – plans to enhance the market for e-signatures and document certifications through a Blockchain application that does not require documents to be stored in the cloud.
DynamicDivision – has developed a basic type of robot for cleaning industrial halls and spaces. They plan to position their product as a “cleaning service”.
Miret – has successfully blended modern style with eco-friendly sneakers to reach eco-conscious customers. They point out that their sneakers are the most environmentally sustainable alternative to the classic mainstream sneaker product in the world.
Sklopp – has developed a unique travel case that adjusts vertically to offer a shelf option for travel content. The product also offers innovative solutions such as electronic security, monitoring and charging options.
Worcon – a platform that connects workshops that produce tools and tool parts with their clients.
Equinox – is a platform for social-network-style publishing of augmented reality interactive virtual content on the blockchain.
FoodIn – is on a mission to turn every kitchen into a smart environment where you can lead a healthy life without too much thinking. Foodin is a smart assistant that delivers groceries from farms, keeps track of your fridge and diet, and in the end teaches you how to cook.
KIIMO – a peer-to-peer delivery system based on sharing economics. Most deliveries made through online channels require a new approach to delivery solutions, which can be found in the already mentioned sharing economy.
KunaKviz – is a daily 15-minute online television game that combines mobile applications and TV games in an innovative way.
Mobile Games Development studio – is a game development platform for mobile platforms. ‘Space Towers’ is one of their most popular studio games.
Honuline – has designed and manufactured a specially tailored spare part for iPhone with extra battery and wireless charging that has 3 days of battery life.
SendBee – offers solutions for optimizing marketing campaigns and CRMs, offering brands the ability to communicate and engage with customers through the WhatsApp application, as well as manage marketing aspects through this communication channel.
What’s next?
According to Netokracija, another nine rounds of investment will follow in the next four years. The next one is already announced for spring 2020. As earlier reported, RFC plan is to make 160 investments by the end of 2023.
As for the selected startups, in the next three months they will undergo through intensive learning process and together with the mentors they will work on developing their skills and knowledge needed to further develop the product, and most importantly, how to make important contacts that can help them.
The program ends with a Demo Day scheduled for November 28, when startups who will successfully complete the entire program will have the opportunity to present their business ideas to a number of reputable investors.