International sustainable initiative startup Walk15, based mostly in Vilnius, right now introduced the opening of its Sequence A funding spherical, persevering with its speedy progress and reaching a valuation of €30 million – double the corporate’s market valuation from final yr.
Preliminary investments have already are available from its current shareholders, together with the VC fund Coinvest Capital, led by Viktorija Trimbel, the Angel syndicate NGL, led by Justinas Pašys, amongst different traders.
“Our aim is to construct a robust group and replicate the success system we have now applied in different international locations. I’m grateful that my household is with me on this journey and that ‘Walk15’ has a robust and dependable group in Lithuania that I belief fully. I’m deeply grateful to our traders for enabling us to proceed rising and transferring ahead,” mentioned Founder and CEO, Vlada Musvydaitė-Vilčiauskė.
Based in 2019, Walk15 is quickly approaching 1 million app customers globally, with its most energetic markets being the Baltic and Scandinavian international locations, Germany, Romania, the UK, and the U.S.
Presently, the Walk15 group is targeted on introducing new functionalities for customers and monetising the B2C phase. Nonetheless, they keep that their core precept stay unchanged – the cellular app will proceed to be free and accessible to everybody.
A yr in the past, Walk15 established an workplace in Berlin, the place its Founder and CEO, Musvydaitė-Vilčiauskė, now spends “almost half of her time“.
NGL chief Justinas Pašys highlights Germany’s potential for the additional enlargement of Walk15: “We’re reinvesting in Walk15 as a result of we consider within the group and the corporate’s long-term potential within the wellness and sustainability sectors. The corporate has achieved sturdy worldwide enlargement outcomes and efficiently laid the groundwork for progress within the German market with strategic companions. This funding will additional strengthen ‘Walk15’s’ place in Germany, open new markets within the CEE area, improve the product, and start testing the U.S. market.”
Trimbel added: “The success of startups lies totally within the arms of their groups – how rapidly and effectively they will develop a product, evolve, handle enterprise operations, and mitigate dangers in a world of fixed change. If our first funding was pushed by three elements – sustainability, international attain, and feminine empowerment – this time, I’m including a fourth: reliability. Below the management of Vlada Musvydaitė-Vilčiauskė, ‘Walk15’ is steadily following its technique to make sustainability and wellness an on a regular basis behavior for folks worldwide. We’re proud to be a part of this journey towards change and success with our fellow traders.”
In line with Walk15 Musvydaitė-Vilčiauskė, one of many biggest validations of the product is when app customers and shoppers determine to put money into it.
“First, we examined Walk15 options ourselves – we’re common customers – and we see actual affect. It’s rather more than an app; it’s an initiative that unites colleagues right into a neighborhood, encourages sustainability and wellness actions, and fosters a shared aim. Seeing how deeply our group engaged and the constructive affect on our organisation’s ambiance, we determined to take a position,” mentioned Paulius Gedminas, Head of the PVVG Holding household fund. “Furthermore, Walk15 has a transparent technique for increasing in each the enterprise and public sectors, demonstrating spectacular progress metrics and gaining worldwide recognition. Investing in Walk15 is a pure step if you see a product that not solely creates worth but in addition has a stable enterprise mannequin and a robust imaginative and prescient for enlargement.”
The Lithuanian startup collaborates with outstanding worldwide companions, together with EuroLeague, the REWE Group, Ergo, Gitex Europe, the GreenTech Pageant, and the European Affiliation for Individuals Administration (EAPM).
Through the UEFA EURO 2024 in Berlin, Walk15 engaged soccer followers from around the globe in mobility and sustainability initiatives.
In line with Walk15 Co-founder Vytautas Višinskis, the principle aim of the corporate’s Sequence A spherical is to boost as much as €5 million and safe participation from a global fund specialising in sustainability and public well being.
“Walk15 supplies an answer that helps firms have interaction their audience—whether or not shoppers or workers—in step or biking challenges. We see large potential not solely within the B2B phase but in addition amongst a broader client viewers,” Višinskis mentioned.
