KV Kinisis Ventures Fund RAIF V.C.I.C. Plc
Portfolio Updates
Welcome to Q2 2024 Newsletter
Threedium
Strong Growth and Strategic Advances
We are pleased to share our preliminary Q2 2024 results, showcasing significant progress and growth. Our revenue for the quarter is estimated to be between €600k and €1mm, reflecting a minimum growth of 100% from Q2 2023, pending final reconciliation.
Some of our most recent key wins include deals with prestigious brands such as Bang & Olufsen, Maybelline, New Balance, Asics, and L’Oréal. These partnerships highlight the growing trust in our innovative solutions across various industries.
We have also added a few more strategic partnerships that will contribute to our accelerated growth across the globe:
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Rafter One (US): To enhance our Salesforce growth initiatives.
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PwC Italia: To strengthen our penetration into the Italian market.
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Financial Times: To boost our ad tech revenue.
Our senior management team participated and contributed content in key events such as Vivatech, VCs on Tees, Vogue Business Berlin, and the World Football Summit has significantly increased our Q3 pipeline to €3mm. These events have also positioned us favorably with global venture capitalists, enhancing our visibility and potential for future investment.
In addition to supporting our proprietary 3D commerce platform, our dedicated research and innovation technology teams continue to look for ways to improve our products with several key platform updates such as:
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Development of a low-code platform to simplify user interactions.
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Enhanced UI/UX for a more intuitive user experience. - Advanced user behavior data capturing capabilities. - Improved rendering quality for glass and fur materials.
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Introduction of new animation types within our 3D Viewers.
These advancements are designed to provide superior service to our existing clients, continue to differentiate from others, expand our global market leadership and market share.
With KV Fund's, Andreas Panayi, at the Reitler "VCs on Tees" event in NY
EMBIO DIAGNOSTICS
New Market Expansions, and Innovative Product Launches
Our team achieved some important milestones this past quarter, including the successful IP registration of our innovative Bio Electric Diagnostics™ (B.EL.D™) for rapid testing of GAC efficiency. We established a new sales channel partnership in Saudi Arabia through MTS Abdula and we continue to plan and prepare our expansion to the US and Canada.
Our marketing and sales team had a productive participation at the international Posidonia Shipping and Maritime event, Greece and attended KOPPEX in Korea where we promoted our proprietary technologies, BELD product lines and connected with a number of potential partners and clients in the region. Lastly, we launched our European initiative to install airbeld in hospitals in Hungary and Italy. With these milestones, EMBIO is poised for continued growth and innovation. Both our international and domestic commercial strategies adding new key clients such as Wargaming, EAC, Thanos Hotels, Brinks Security, Hellenic Bank, and Cablenet.
While we grow our commercial activity and international footprint, our technology teams are preparing the releases of a new BELD ESG product suite including airbeld Prometheus, airbeld EOS, and airbeld Outdoor solutions. Stay tuned for a lot more on these new and exciting products. Finally, last month EMBIO completed the acquisition AG Catalytic Solutions, a ballast water treatment company with a proprietary technology for treating ballast water without the use of harsh chemicals or UV radiation. This significant strategic move will transfer technology, know-how, and intellectual property assets and will give a running start to our research and development teams in the very promising environmentally safe water treatment in shipping and other global sectors.
ASCANIO
Advancing Mixed Reality for Education, Emergency Response, and Maritime Safety
The Second quarter was another productive and eventful three months for our commercial and technical teams. We progressed and optimized a number of projects, including the TRACER initiative, working alongside our partners at EMBIO Diagnostics, which enhances emergency response capabilities for first responders using mixed reality.
In May, we launched the first phase of our Education Mixed Reality Module, focusing on the historical mountain Pentadaktylos. This immersive education module takes students back in time to explore minerals and solve puzzles, making learning interactive and fun.
Last month we attended and participated at the Posidonia 2024 in Athens, where we showcased our Maritime Mixed Reality module alongside our strong partner and supporter Fameline Holding Group. Our Mixed Reality Remote Assist technology, which enables real-time remote inspections and maintenance, was a big draw among ship owners, managers, and operators. Our remote assist platform can be a critical component of operational cost and resource efficiencies and safeties across the shipping and maritime sectors. Shipping is a very important commercial sector for our business and we expect it to be a significant part of our continued growth.
Our new business pipeline has been growing steadily and we were able to close our 2nd quarter with a 50% revenue growth YoY. We are actively in the process of raising capital, which will fuel our growth in a couple of strategic sectors and geographies.
PROMED BIOSCIENCE
Promed Secures Funding and Advances Global Expansion in 3D Bioprinting
Promed has secured a strategic follow-up capital infusion from KV Fund that is aimed at bolstering its ambitious expansion into the international market. The funding will be used to expand production capabilities and support Promed’s efforts to become a major player in the burgeoning 3D bioprinting and regenerative medicine sector.
Promed is also set to launch a new website with a strong commercial orientation, designed to promote its diverse product range and highlight its strategic alliances to a global audience. Additionally, the clinical trial of the Mediskin project has concluded, and the results will be published to highlight the efficacy of our novel atelocollagen in wound healing and skin regeneration applications.
Promed is also progressing through the final stages of the regulatory process to enter the Korean market and is poised to embark on a multi-year sales partnership that will cement the company’s position as a leading biomaterials supplier for the medical devices industry. As part of its strategic foray into the sector, Promed is preparing to conduct a viral inactivation assessment that will pave the way for obtaining critical FDA certifications to further expand its reach in the regenerative medicine space.
HEROES MADE
Heroes Made Announces Strategic Partnerships
Our team is delighted to update our community on some significant strides we've made recently as we expand and enrich our educational platform.
Our phased approach to our US presence continues with strategic commercial partnerships. We are now live on EdCuration by GG4L, one of the biggest EdTech marketplaces in the US. Additionally, we are in the process of partnering with a leading provider of technology products and services for business, government, and education in the US and Canada. These partnerships mark another step in our journey to bring innovative learning solutions to students worldwide.
We are also excited with our new, four-year agreement with Eduvision, our existing partner, to release and distribute a Social Emotional Learning (SEL) print line of books, with the first print batch being released at the start of the academic year in selected schools in Asia. We are now exploring the potential for expanding the SEL print line in multiple languages and regions. While online and digital learning teaching and learning is the way of the future, we saw that having some of our content available in print not only satisfies the needs of a significant segment, it also provides a balance and bridge while the education sector embracers new and innovative ways of engaging our children .
On the technology and platform front, we have completed the 100% localization of our SaaS platform in Greek and will begin exploring localization in Spanish, the second most in-demand language in the US.
We are thrilled to share that Heroes Made has been shortlisted by HundrED for its innovation collections. The results are expected in July. Thank you for following our journey.
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IREROBOT
Innovation Awards, and Global Showcases
At the Cyprus Innovation Summit, organized by Inspiralia and IP Research, our CEO and Founder won the “Innovate to Win” Pitch Competition. The prize includes proposal writing services by Inspiralia, aiding our application for the EIC Accelerator, which offers substantial grants and co-investments. Currently, we are in Phase 2 of the EIC competition, with potential funding of up to €2.5m in grants and €0.5m to €15m in equity co-investment.
Our team was selected to represent Cyprus at GITEX 2024 in Dubai. Our team will showcase IREROBOT’s innovative haptic glove (HGLOVE) and ACETT, including ACETT-XR, which connects to Extended Reality headsets to provide Deaf individuals with access to the Digital Realm.
HGLOVE is our latest haptics advanced technology, which is now fully integrated, wireless, and powered by batteries, marking a significant milestone in its development. We are excited to announce that it will soon undergo compliance testing, moving us closer to its market launch. GITEX is one of the largest tech events globally, and it attracts thousands of companies and investors, offering our team an unparalleled platform to demonstrate both of our cutting-edge technologies.
We are currently in discussions with two potential international commercial partners for our ACETT technology. Lastly, our proprietary technologies and momentum caught the eye of a few investors, and we are currently in active discussions for some additional growth capital.
HYDROGEN ENERGY SYSTEMS
Expanding Conversations and Opportunities
While in are actively engaged in commercial discussions with two large manufacturing potential customers for our fuel & emissions reduction solution, we have decided to expand our target customer profile to include companies with smaller fusil burning boilers to broaden the addressable market and increase awareness of our innovative hydrogen injection solution.
Our technology can potentially save clients at least 10% on their fuel costs, with even greater savings when photovoltaic/solar power is available during the day. This not only enhances the return on equity (ROE) but also shortens the payback period, making our solution even more attractive.
Our system requires no upgrades or complicated retrofits to the boiler or burner. All we need are the boiler size, consumption details, and electricity availability to provide an accurate savings estimate.
We have established partnerships with a large European certified parts & equipment manufacturer and Europe’s most prominent hydrogen safety certification company, and we are ready and open for commercial activity in what is promising to be a very promising and rewarding energy space.
AG CATALYTIC SOLUTIONS
Closing the Deal.
We are excited to finally be able to share that EMBIO Diagnostics acquired our company. This strategic move transfers all of our proprietary technology, know-how, and intellectual property assets to the EMBIO team.
After we collaborated with the EMBIO team on a couple of projects, we realized that integrating our technology with EMBIO’s expanding resources and growing momentum within the shipping and maritime sectors was the ideal scenario. We are excited with the possibilities ahead and we are confident that EMBIO will be able to take our technology to the next level faster.
