Manta Ray Ventures

Kulczyk Investments is a private equity firm based in Luxembourg, established in 1991. The company focuses on identifying and capitalizing on business opportunities in high-growth markets, particularly medium-sized enterprises in sectors such as new technologies, chemicals, infrastructure, and real estate. With over thirty years of experience, Kulczyk Investments supports European companies in their global expansion efforts by making long-term investments using its own capital, expertise, and international partnerships. The firm is built by entrepreneurs, which equips it with a deep understanding of the challenges that growing businesses face.

Lawrence Barclay

Managing Partner

Jan Kulczyk

Founder and President

56 past transactions

Astranis

Venture Round in 2023
Astranis is a developer of a new satellite technology that aims to transmit data down to specific terrestrial locations with each satellite it launches. The company's mission is to help get online the 4 billion people who are without internet access.

Freedom Biosciences

Venture Round in 2023
Freedom Biosciences is a biotechnology platform developing next-generation psychedelic therapeutics.

Cuemath

Venture Round in 2022
Cuemath is an international online learning platform that offers math and coding programs for K-to-10 students. Cuemath makes every aspect of learning maths engaging and comprehensive by using math worksheets and application-based technology under the supervision of trained and certified teachers. The Cuemath Program has been designed to build a strong math and coding foundation in children by sharpening their knowledge of concepts, aptitude, and reasoning skills. Cuemath was founded in 2013 and is based in Bengaluru, Karnataka, India.

Nomagic

Series A in 2022
Nomagic provides smart pick and place robotic solutions for order fulfillment. Their solutions bring efficiency, flexibility and reliability to e-commerce warehouses. They automate tedious tasks while reducing the cost of fulfillment and allow warehouses to face shortage of labor and scale easily to 24/7 operations. Nomagic's first robots are on packing lines at Cdiscount, the #1 French eCommerce platform.

Better Dairy

Series A in 2022
Better Dairy manufactures dairy products. It employs precision fermentation to produce the same cheeses, yoghurts, and ice creams that customers are accustomed to without the use of animals.

Believer

Series B in 2021
Believer Meats is a Jerusalem-based biotechnology company aiming to transform global meat production through distributive manufacturing of fat and muscle cells, increasing food safety and reducing ecological impact worldwide. They aim to turn the timeless vision of animal-free meat production into a reality. Their cutting-edge cellular agriculture technology was developed by award-winning biologists and bioengineers and brought into reality by world-renowned innovative chefs at Jerusalem’s singular culinary scene.

Brickwise

Seed Round in 2021
Brickwise is a real estate investment company. They offer easy, affordable, and safe access to real estate investments for customers and democratise traditional real estate investing. Their financial products are associated with considerable risks and can lead to the complete loss of the capital invested.

Peek

Series C in 2021
With nearly $2 billion in bookings of experiences, the Peek.com platform combines powerful business software with an award-winning marketplace for consumers to book fun things to do (think: wine tours, watersports, skydiving, and art classes). Peek Pro provides world-class online booking, point-of-sale, and hundreds of automation tools such as inventory management, dynamic pricing, waivers, and marketing analytics. Thousands of operators like Museum of Ice Cream, Artechouse, and Pennekamp State Park have supercharged their revenues and automated operations with this all-inclusive technology.

Bite Ninja

Seed Round in 2021
Bite Ninja is a remote hiring technology platform for restaurants.

Supplant

Series A in 2021
Supplant is a biotechnology platform working in the food sector. It develops natural food ingredients from agricultural resources to allow food manufacturers to decrease sugar, increase fiber, and boost the gut health-promoting qualities of its products.

Cala

Seed Round in 2021
They are building the first fully robotic pasta restaurant to transform cost structure and experience of fast-casual restaurants. That’s why they created Cala, to bring lunch into a new era and in your plate in less than a minute. It just need a 3m2 kitchen to serve very quickly 800 meals per hour cooked with fresh and organic ingredients.

Bluu Seafood

Seed Round in 2021
Bluu Seafood they provide services for food products in seafood made from fish cells, healthier, and more sustainably

Ossium Health

Series B in 2021
Ossium builds a bone marrow bank to treat blood cancers, improve organ transplantation, and repair damage from radiation. The cells of the immune system are the human body’s natural defenders against disease. At Ossium, they are developing better methods of recovering, preserving, and deploying these critical cells to keep disease at bay.

HelloSelf

Series A in 2021
HelloSelf provides online counselling and life coaching services to help people cope with stress. The company's services include elements such as stress, anxiety, and confidence testing using professionally proven procedures, allowing patients to schedule appointments with psychologists and therapists at their leisure. HelloSelf was established in 2018 in London, England by Charles Wells.

Supplant

Series A in 2021
Supplant is a biotechnology platform working in the food sector. It develops natural food ingredients from agricultural resources to allow food manufacturers to decrease sugar, increase fiber, and boost the gut health-promoting qualities of its products.

Believer

Convertible Note in 2021
Believer Meats is a Jerusalem-based biotechnology company aiming to transform global meat production through distributive manufacturing of fat and muscle cells, increasing food safety and reducing ecological impact worldwide. They aim to turn the timeless vision of animal-free meat production into a reality. Their cutting-edge cellular agriculture technology was developed by award-winning biologists and bioengineers and brought into reality by world-renowned innovative chefs at Jerusalem’s singular culinary scene.

Elephant Healthcare

Series A in 2021
Elephant is constructing a global digital health network that will link all aspects of the healthcare ecosystem. Elephant is a technology company dedicated to addressing major issues in global healthcare. It was founded by doctors and is fueled by medical knowledge. It offers cutting-edge, agile technology with the goal of saving lives and cutting costs. Its software platform helps to digitalize medical clinics by connecting them and providing tools that can transform primary care.

Brainly

Series D in 2020
Brainly is an online learning platform where students and parents get homework and study help from peers and experts. With the platform and its group of websites and apps, middle school and high school students are given the opportunity to ask questions freely to the online community comprised of students, parents, and teachers. The software is developed with a mission to help students gain the confidence that comes from helping others and inspire them to learn in a collaborative community. Brainly is backed by Naspers, Kulczyk Investments, General Catalyst Partners, Point Nine Capital, Runa Capital, and Learn Capital. In 2009, Lukasz Haluch, Michał Borkowski, and Tomasz Kraus co-founded the company in Kraków, Malopolskie, Poland and is available in 35 countries.

Cuemath

Series C in 2020
Cuemath is an international online learning platform that offers math and coding programs for K-to-10 students. Cuemath makes every aspect of learning maths engaging and comprehensive by using math worksheets and application-based technology under the supervision of trained and certified teachers. The Cuemath Program has been designed to build a strong math and coding foundation in children by sharpening their knowledge of concepts, aptitude, and reasoning skills. Cuemath was founded in 2013 and is based in Bengaluru, Karnataka, India.

Finiata

Venture Round in 2020
Finiata is a fintech specializing in data-driven B2B lending and risk assessment solutions. Our expertise lies in embedded lending – a streamlined approach to integrating finance into the operations of non-financial companies and SMEs. Our journey began in 2016, and since then, we've navigated through the changing landscape with resilience and innovation. Our experience and adaptability have established us as a trusted and reliable partner in lending solutions. At Finiata, we're committed to supporting sustainable growth and improved cash flow management for businesses. We're constantly innovating our embedded lending and risk assessment solutions, focusing on the future of B2B finance. If you're an SME seeking tailored financing solutions or a potential Partner, interested in embedded lending, we're excited to connect with you. Join us in our mission to shape the future of B2B finance together. Let’s grow, innovate and succeed together.

Booksy

Venture Round in 2020
Booksy is the largest and fastest growing booking platform that connects beauty, wellness and health professionals with local customers, powering hundreds of millions of appointments each year. Booksy Biz, designed specifically for small business owners, is Boosky’s mobile-first SaaS platform that combines all the tools providers need to attract new customers, take appointments, manage staff and payments, and build a loyal client base. The Booksy Marketplace is where millions of consumers around the world find, schedule and manage appointments with stylists, barbers, braiders, nail artists, estheticians, massage therapists, salons, and spas in their communities. Customers can browse business profiles, reviews, services, pricing, availability and instantly book appointments with the click of a button. Founded in Poland in 2014, Booksy has operations in Poland, United States, United Kingdom, Spain and France. The company has raised more than $100M in Series C funding and is backed by investors including Inovia, Kaya, and Verdane. Learn more at booksy.com.

Kojo

Series A in 2020
Kojo, the construction industry’s leading procurement platform, enables trade and self-perform general contractors to take control of their margins by consolidating the procurement process onto one, all-inclusive digital platform. By connecting the field, office, warehouse, accounting teams, and vendors, contractors gain visibility into real-time materials spend and usage, streamline workflows, and increase labor productivity. Contractors have access to a network of thousands of vendors to source the best prices and availability, find cost savings, and reduce material waste. Kojo is trusted by hundreds of contractors and utilized by thousands of construction professionals across the country every day.

Climax Foods

Seed Round in 2020
Climax Foods is a data science company innovating the future of food. The company provides plant-based food technology to accelerate food innovation processes through focused experimentation, resulting in the rapid development of dairy alternatives optimized for taste, texture, nutrition, and cost, allowing clients to produce plant-based foods that outperform their animal-based predecessors.

THIS

Equity Crowdfunding in 2020
THIS is a plant-based meat brand that provides alternative meat products for meat lovers. The company's products are made of plant-based ingredients that are fortified with vitamin B12 and iron, enabling meat lovers to get the real feel of having meat-based products and satisfy their tastes without killing animals.

Epic Games

Venture Round in 2020
Epic Games is an American video game and software company that creates games and offers its game engine technology to other developers. It specializes in developing games and engine technology and operates a game store that empowers others to make quality games and 3D content, thereby providing game developers the ability to build high-fidelity, interactive experiences for PC, console, mobile, and virtual reality devices.

StethoMe

Series A in 2020
StethoMe is a digital stethoscope designed for remote monitoring of heart and lung sounds. It connects patients with healthcare professionals, allowing for real-time audio transmission. The device captures and transmits acoustic data, facilitating remote assessments. This technology supports healthcare providers in making informed decisions based on patient conditions.

Kernel

Series C in 2020
Kernel is a neuroscience company that specializes in developing brain-recording technologies. Its custom-built, non-invasive brain interface acquires neural signals similar in quality to fMRI, MEG & ECoG, as easy to use as EEG. It was founded in 2016 and is headquartered in Los Angeles, California.

Nomagic

Seed Round in 2020
Nomagic provides smart pick and place robotic solutions for order fulfillment. Their solutions bring efficiency, flexibility and reliability to e-commerce warehouses. They automate tedious tasks while reducing the cost of fulfillment and allow warehouses to face shortage of labor and scale easily to 24/7 operations. Nomagic's first robots are on packing lines at Cdiscount, the #1 French eCommerce platform.

Raise

Seed Round in 2020
Raise is a digital payment platform that allows consumers to purchase discounted gift cards and earn savings on transactions across various retailers. The platform allows users to buy and sell gift cards, facilitating a marketplace where individuals can exchange unwanted gift cards for cash or other cards. Raise also offers a rewards program that enables customers to earn points on purchases, which can be redeemed for future savings. By partnering with numerous brands, Raise enhances consumer choice and accessibility to various products and services while promoting cost-effective shopping solutions.

THIS

Seed Round in 2020
THIS is a plant-based meat brand that provides alternative meat products for meat lovers. The company's products are made of plant-based ingredients that are fortified with vitamin B12 and iron, enabling meat lovers to get the real feel of having meat-based products and satisfy their tastes without killing animals.

Market AI

Seed Round in 2019
Market AI has been acquired by Verishop Group! Learn more about Verishop Group: https://www.verishopgroup.com/

Cuemath

Series B in 2019
Cuemath is an international online learning platform that offers math and coding programs for K-to-10 students. Cuemath makes every aspect of learning maths engaging and comprehensive by using math worksheets and application-based technology under the supervision of trained and certified teachers. The Cuemath Program has been designed to build a strong math and coding foundation in children by sharpening their knowledge of concepts, aptitude, and reasoning skills. Cuemath was founded in 2013 and is based in Bengaluru, Karnataka, India.

Believer

Series A in 2019
Believer Meats is a Jerusalem-based biotechnology company aiming to transform global meat production through distributive manufacturing of fat and muscle cells, increasing food safety and reducing ecological impact worldwide. They aim to turn the timeless vision of animal-free meat production into a reality. Their cutting-edge cellular agriculture technology was developed by award-winning biologists and bioengineers and brought into reality by world-renowned innovative chefs at Jerusalem’s singular culinary scene.

Beit

Seed Round in 2019
Beit designs and implements an algorithm for solving a relevant NP-complete class of problems using Quantum Computers, getting speedups better than quadratic, guaranteed by theory. Beit focuses on Hamiltonian cycle problem. NP-complete problems are abstractions relevant for many real world problems encountered in logistics, manufacturing, and warehousing at scale. Beit is headquartered in Kraków, Poland.

Volocopter

Series C in 2019
Volocopter is the pioneer of urban air mobility (UAM), an emerging branch of fully electric aviation. Our aspiration to make the dream of electric flight come true has resulted in safe and uniquely designed aircraft. Our air taxis and longer-range passenger aircraft will offer alternative, affordable transit solutions – emission-free and more sustainably and efficiently than before. For more than 10 years, we have been enhancing our initial prototype to build a sophisticated ecosystem that will complement our air taxis, thus opening up a whole new perspective on and for the city. By offering all-electric flights over megacities across the globe, we will make more room on the streets, thus relieving congestion, pollution, and other big-city hassles. Interconnected key transport hubs will allow us to ferry passengers across major cities more easily and sustainably than before.

Brainly

Series C in 2019
Brainly is an online learning platform where students and parents get homework and study help from peers and experts. With the platform and its group of websites and apps, middle school and high school students are given the opportunity to ask questions freely to the online community comprised of students, parents, and teachers. The software is developed with a mission to help students gain the confidence that comes from helping others and inspire them to learn in a collaborative community. Brainly is backed by Naspers, Kulczyk Investments, General Catalyst Partners, Point Nine Capital, Runa Capital, and Learn Capital. In 2009, Lukasz Haluch, Michał Borkowski, and Tomasz Kraus co-founded the company in Kraków, Malopolskie, Poland and is available in 35 countries.

Cover

Seed Round in 2019
Cover is a technology company that designs, manufactures, and installs custom Backyard Studios. Cover’s mission is to make living in a thoughtfully designed and well-built home a reality for everyone. Using proprietary design software and a precision manufactured building system, Cover delivers exceptional design, functionality, and energy performance, in a fraction of the time of traditional custom construction. Cover has launched in Los Angeles and is taking pre-orders worldwide.

Beacon

Seed Round in 2019
Beacon is a digital supply chain and freight platform developed to optimize supply chains with insights and visibility. It offers a freight forwarding service across all modes integrated with its end-to-end visibility platform, connecting each stage of the supply chain to deliver a record of all the information teams need. From bookings to order management, live tracking, and document management, Beacon will move goods with transparency and efficiency, whilst the secure cloud-based software improves accuracy and saves time. The company was founded in 2018 by Fraser Robinson and Dmitri Izmailov and is headquartered in London, England, United Kingdom.

Forge Platform

Seed Round in 2019
Forge Platform provides real-time and historical insights for ethereum based projects.

AppOnboard

Series B in 2018
AppOnboard is a Los Angeles-based software company empowering creators to build businesses without any programming experience. The company offers two no-code products: Buildbox, the largest no-code mobile game engine, and AppOnboard Studio, a mobile, interactive design studio that enables anyone to create playable ads and app prototypes.

Toonstar

Seed Round in 2018
Powered by proprietary animation tech, we make daily interactive pop culture content at unprecedented speed + cost and partner with creators to bring virtual influencers to life.

Booksy

Series B in 2018
Booksy is the largest and fastest growing booking platform that connects beauty, wellness and health professionals with local customers, powering hundreds of millions of appointments each year. Booksy Biz, designed specifically for small business owners, is Boosky’s mobile-first SaaS platform that combines all the tools providers need to attract new customers, take appointments, manage staff and payments, and build a loyal client base. The Booksy Marketplace is where millions of consumers around the world find, schedule and manage appointments with stylists, barbers, braiders, nail artists, estheticians, massage therapists, salons, and spas in their communities. Customers can browse business profiles, reviews, services, pricing, availability and instantly book appointments with the click of a button. Founded in Poland in 2014, Booksy has operations in Poland, United States, United Kingdom, Spain and France. The company has raised more than $100M in Series C funding and is backed by investors including Inovia, Kaya, and Verdane. Learn more at booksy.com.

Clark

Series B in 2018
Clark is an insurance platform providing transparent, cheap and comprehensive insurance coverage. By combining technology and insurance expertise, Clark offers users simple, fair and customer-centric insurance advice. The Berlin-based company was founded in June 2015 by Dr. Christopher Oster and Steffen Glomb. Clark is supported by FinTech incubator FinLeap and the insurance think tank ITA - "Institute for Transparency".

Frontier Car Group

Series B in 2018
Frontier Car Group is a berlin-based startup who develop, launch, and operate used-automotive marketplaces within emerging market economies, with operations in Nigeria, Mexico, Argentina, Colombia, Chile, Pakistan, and Indonesia. Additionally, we are successfully engaging in two joint ventures with OLX in India and Poland. We increase the efficiency of selling and buying cars through technology, infra-structure creation, access to capital and innovative business models that allows all stakeholders to gain from our impact.

Jiminy

Seed Round in 2018
Jiminy helps you keep an eye on your child and alerts you at signs of trouble, so you can be there when they need you.

Fable Studio

Seed Round in 2018
Fable Studio aims to create and nurture characters with style and approachability. Fable creator-driven teams remain nimble enough to take necessary risks and explore more than we could in a traditional pipeline.

Virgin Hyperloop

Venture Round in 2017
Virgin Hyperloop is a developer of a transportation technology used to deliver fast, direct, and sustainable transportation at scale. Its technology is a first-generation vehicle system that makes trains go as fast as 760 miles per hour and utilizes a vacuum tube designed for transportation of people and cargo that enables companies to have direct movement of freight and people to travel quicker from origin to destination. It was founded in 2014 and is headquartered in Los Angeles, California.

Finiata

Series A in 2017
Finiata is a fintech specializing in data-driven B2B lending and risk assessment solutions. Our expertise lies in embedded lending – a streamlined approach to integrating finance into the operations of non-financial companies and SMEs. Our journey began in 2016, and since then, we've navigated through the changing landscape with resilience and innovation. Our experience and adaptability have established us as a trusted and reliable partner in lending solutions. At Finiata, we're committed to supporting sustainable growth and improved cash flow management for businesses. We're constantly innovating our embedded lending and risk assessment solutions, focusing on the future of B2B finance. If you're an SME seeking tailored financing solutions or a potential Partner, interested in embedded lending, we're excited to connect with you. Join us in our mission to shape the future of B2B finance together. Let’s grow, innovate and succeed together.

AdTonos

Grant in 2017
AdTonos is a programmatic audio advertising platform that connects advertisers with publishers. The marketplace offers multiple ad placements from well-known pre-rolls, through to mid-rolls and real-time ad replacement for live streaming. This provides advertisers with vast reach across digital audio channels, while radio stations, podcasters or music streaming services profit from the use of an effective tool that supports them in growing their revenues from online advertising. Brands have, at their fingertips, an easy-to-reach audience of more than 15 million unique online audio listeners from the UK and worldwide and potential of at least 200 million ad playouts a month. AdTonos is supported by the UK’s Department of International Trade, helping the company to scale globally, and is a member of IAB UK, IAB Europe and the European Association of Commercial Radios, which represents commercial radio at the European Parliament.

Brainly

Series B in 2017
Brainly is an online learning platform where students and parents get homework and study help from peers and experts. With the platform and its group of websites and apps, middle school and high school students are given the opportunity to ask questions freely to the online community comprised of students, parents, and teachers. The software is developed with a mission to help students gain the confidence that comes from helping others and inspire them to learn in a collaborative community. Brainly is backed by Naspers, Kulczyk Investments, General Catalyst Partners, Point Nine Capital, Runa Capital, and Learn Capital. In 2009, Lukasz Haluch, Michał Borkowski, and Tomasz Kraus co-founded the company in Kraków, Malopolskie, Poland and is available in 35 countries.

Toonstar

Seed Round in 2017
Powered by proprietary animation tech, we make daily interactive pop culture content at unprecedented speed + cost and partner with creators to bring virtual influencers to life.

StethoMe

Seed Round in 2017
StethoMe is a digital stethoscope designed for remote monitoring of heart and lung sounds. It connects patients with healthcare professionals, allowing for real-time audio transmission. The device captures and transmits acoustic data, facilitating remote assessments. This technology supports healthcare providers in making informed decisions based on patient conditions.

BioLite

Series C in 2017
BioLite is a dynamic, rapidly growing, and profitable social enterprise that develops, manufactures and markets consumer energy products for off-grid communities around the world. Over the last three years, our team has tripled, and sales have doubled each year. Their business serves two distinct markets: 1) developing world families living in energy poverty, and 2) outdoor enthusiasts seeking fuel-independent cooking and power. They address these markets simultaneously through parallel innovation: by incubating core technologies that can serve users in both markets, they are able to re-invest near-term revenue to solve long-term, high-impact problems. Developing World: Half the planet still cooks on indoor open wood fires and the toxic smoke they emit kills nearly 4 million people every year, twice as many as malaria. BioLite has developed an advanced, affordable, clean- burning stove that combines unprecedented emissions reductions with economically valuable electricity generation. The HomeStove™ is capable of reducing indoor smoke by more than 90% while cutting fuel use in half. By providing their largely off-grid customers with the ability to charge cell phones and LED lights, our stoves create economic incentive for purchase and continued use, ensuring sustainable delivery of their health and environmental benefits.

Grey Wizard

Venture Round in 2017
Grey Wizard provides cloud based, military grade, managed security service designed to protect websites and web applications. The core functions include Advanced Web Application Firewall, Bot Mitigation, DDoS Protection, Advanced API Protection and Behaviour Based Anomaly Protection. Thanks to Machine Learning and A.I the solution “learns” characteristics of each client and provides a tailored service.

Clark

Series A in 2016
Clark is an insurance platform providing transparent, cheap and comprehensive insurance coverage. By combining technology and insurance expertise, Clark offers users simple, fair and customer-centric insurance advice. The Berlin-based company was founded in June 2015 by Dr. Christopher Oster and Steffen Glomb. Clark is supported by FinTech incubator FinLeap and the insurance think tank ITA - "Institute for Transparency".
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