MSM

Mustard Seed MAZE is an impact investment firm established in 2018 and based in Lisbon, Portugal. As a joint venture between Mustard Seed and MAZE, the firm focuses on early-stage ventures in Europe, specifically those in the pre-seed to series A stages. With a fund size of 40 million euros, Mustard Seed MAZE invests in innovative entrepreneurs who are dedicated to addressing significant social and environmental challenges through sustainable business practices. The firm takes a generalist approach to impact investing, aiming to support brave founders who are committed to creating positive change in society.

António Miguel

Managing Partner

23 past transactions

Flecto

Venture Round in 2022
Flecto operates an online rental marketplace designed to facilitate convenient access to a diverse range of products. The platform enables users to rent everyday items, such as bicycles, college textbooks, and wedding dresses, promoting a circular economy by reducing overconsumption. Flecto's business model supports sustainability by allowing customers to obtain items they do not need to own outright, thereby encouraging cost-effective and environmentally friendly consumption.

tl;dv

Seed Round in 2022
tl;dv is a meeting productivity tool for remote teams and has just raised Seedcamp funding after only 3 months of existence. We are now looking for our key hires to scale the company in the next 1.5 years!

Sojo

Pre Seed Round in 2022
Sojo offers clothing repair and tailoring services in fashion industry.

Connect Earth

Pre Seed Round in 2022
Connect Earth builds the infrastructure for climate-conscious products, fueling a world where climate action becomes standard practice.

Chatterbox

Pre Seed Round in 2022
A corporate language learning platform that uniquely offers active practice alongside algorithmically matched native language coaches who share their students' professional backgrounds and interests. On the app, engineers are learning Arabic from engineers and aid workers are learning French from medical doctors and achieving industry topping course completion rates. Chatterbox language coaches are professionals who have become forcibly displaced and are currently undervalued in the labour market. Co-founded by a former refugee and Y Combinator alum, Chatterbox is backed by BGV, All Turtles and WeWork.

Your Juno

Seed Round in 2022
Your Juno is a financial education platform for women and non-binary people.

knok healthcare

Series A in 2021
Knok is an app-based healthcare platform offering patients a holistic solution for their health through a combination of AI chatbots, video calls, face to face appointments at home, and integration with hospitals in one single application. This solution is convenient for the patient and efficient for the health system: the AI chatbot helps patients self-assess their condition and directs the patient within the app to a video appointment or a face to face appointment. If the issue is serious enough, knock will direct the patient to the hospital.

Clear

Venture Round in 2021
Clear B.V., founded in 2019 and based in Amsterdam, the Netherlands, provides personalized food recommendation plans aimed at promoting healthier lifestyles. The company utilizes intelligent, AI-driven programs to help users manage various aspects of their health, including nutrition, exercise, sleep, and stress. Unlike traditional activity trackers, Clear leverages biomarkers from wearables to deliver precise insights and recommendations. Its programs cater to specific needs, such as diabetes prevention, professional sports performance, and optimizing ketogenic diets. By integrating scientific use cases, Clear offers users actionable guidance rather than mere data, effectively connecting the relationships between sleep, diet, exercise, and stress.

refive

Pre Seed Round in 2021
Leaf is a SaaS that enables brick & mortar retailers to understand, engage and retain customers post-purchase via a smart digital receipt. Leaf integrates at the POS and enables retailers to issue smart digital receipts including product information, personalized offers, loyalty points and more. By converting the receipt into an "offline cookie" and enabling the retailer to identify the customer across multiple visits and locations - leaf and gain behavioral insights that enable them to target & reactivate them between purchases. End users collect all their receipts and loyalty points in one place with Leaf. Leaf was co-founded by Mitul Jain and Christopher Kane in Jan 2020 and is currently headquartered in Berlin, Germany,

Vanilla Steel

Seed Round in 2021
Vanilla Steel is an independent digital platform based in Berlin that specializes in the sourcing and sale of non-prime steel. The platform facilitates online transactions for a variety of steel products, including semi-finished materials, overrolling, excess, and declassified steel, directly from producers and processors in the European Union. By offering an electronic auction environment, Vanilla Steel simplifies the buying and selling process for excess steel, including rolling, carbon flat, stainless steel, and pipes and tubes. The founding team, comprised of four tech entrepreneurs with extensive digital experience, is dedicated to addressing existing challenges in the steel market through innovative online solutions.

GoParity

Pre Seed Round in 2021
GoParity is an online platform founded in 2017 that facilitates investment in sustainable projects through a crowdfunding model. By connecting individual and corporate investors with initiatives in sustainable energy, blue economy, smart cities, rural development, and social entrepreneurship, GoParity enables participants to support projects that align with their values while earning a return on their investments. The platform aims to make sustainable investment accessible to a broad audience, contributing to a more inclusive and environmentally responsible economic system. Through this approach, GoParity promotes economic, social, and environmental impact, driving the transition toward sustainability.

KETS

Series A in 2021
KETS Quantum Security Ltd, founded in 2016 and based in Bristol, United Kingdom, specializes in creating solutions for secure communications using quantum technologies. The company develops a range of cost-effective, future-proof technologies, including quantum key distribution (QKD) and quantum random number generation (QRNG). Its quantum chip facilitates reliable and secure communication encryption systems, utilizing optical microchips in compact and integrated packages. These innovations enable clients to achieve enhanced digital encryption and secure data communication in a low-power format, addressing the growing need for robust security solutions in the digital landscape.

IconoClass

Seed Round in 2021
IconoClass is a business school focused on equipping students with essential skills for careers in business development. The institution offers a four-month intensive training program that prepares students for various roles, including sales development representative, business developer, customer success manager, account manager, and sales operations. The program emphasizes practical learning through partnerships with companies such as Doctolib, Deliveroo, Spendesk, and SumUp, allowing students to gain hands-on experience from industry professionals. By combining theoretical knowledge with real-world applications, IconoClass aims to enhance employability and facilitate permanent job placements for its graduates.

StudentFinance

Seed Round in 2021
StudentFinance, S.L., established in 2019 and headquartered in Madrid, Spain, operates in the Fintech and Edtech sectors, focusing on addressing the skills gap in education. The company provides personal loans to students through Income Share Agreements (ISAs), allowing them to pay a fixed percentage of their income over a predetermined period instead of paying tuition upfront. This innovative approach aims to make education more affordable and accessible. By leveraging technology and predictive modeling, StudentFinance enhances the connection between talent, educational programs, and employers, fostering transparency and improving employment outcomes for graduates.

Kitch

Seed Round in 2021
Kitch, Unipessoal Lda operates a restaurant. The company also offers online food orders and delivery services. Kitch, Unipessoal Lda was incorporated in 2020 and is based in Lisbon, Portugal.

Loctax

Seed Round in 2021
Developer of a collaborative tax project management platform intended to achieve higher levels of compliance, efficiency, and corporate social responsibility. The company's platform helps to empower collaboration on global tax projects, collect and maintain tax-related data as a centralized document, and reduces the complexity of ever-changing international tax regulations to laser-focused updates, enabling tax teams, stakeholders, and advisors to track and report compliance easily and improves transparency and decision making.

Outmind

Pre Seed Round in 2020
Outmind is a company based in Palaiseau, France, that specializes in developing a search engine designed to enhance data retrieval within organizations. Incorporated in 2019, Outmind's software as a service (SaaS) solution enables users to perform text searches across various internal tools, facilitating the discovery of relevant information such as emails and documents. Additionally, the platform helps users identify colleagues who may assist with specific inquiries, streamlining internal communication and improving overall efficiency in data management.

knok healthcare

Seed Round in 2020
Knok is an app-based healthcare platform offering patients a holistic solution for their health through a combination of AI chatbots, video calls, face to face appointments at home, and integration with hospitals in one single application. This solution is convenient for the patient and efficient for the health system: the AI chatbot helps patients self-assess their condition and directs the patient within the app to a video appointment or a face to face appointment. If the issue is serious enough, knock will direct the patient to the hospital.

Kitch

Pre Seed Round in 2020
Kitch, Unipessoal Lda operates a restaurant. The company also offers online food orders and delivery services. Kitch, Unipessoal Lda was incorporated in 2020 and is based in Lisbon, Portugal.

Omocom

Seed Round in 2020
Omocom offers safe, simple and secure insurance for all kind of renting, sharing and re-using, digitally, automated and integrated into the sales flow of the platform

Rnters

Pre Seed Round in 2020
Rnters, Unipessoal Lda. is an online rental marketplace based in Lisbon, Portugal, that facilitates the renting of everyday items, including GoPros, bikes, video games, books, and various other products. Founded in 2016 by Guilherme Guerra, the platform allows users to save money by renting items they need while enabling others to profit from their underutilized assets. Rnters offers access to over 3,000 unique items, providing a cost-effective alternative to purchasing goods outright. The company's innovative approach supports a sharing economy, encouraging users to both rent and lend items, thereby enhancing resource efficiency and accessibility.

Valuebeat

Seed Round in 2020
Platypus is the HR tech solution that helps you discover what people value at every stage of the talent lifecycle, from attraction to management to retention.

StudentFinance

Seed Round in 2019
StudentFinance, S.L., established in 2019 and headquartered in Madrid, Spain, operates in the Fintech and Edtech sectors, focusing on addressing the skills gap in education. The company provides personal loans to students through Income Share Agreements (ISAs), allowing them to pay a fixed percentage of their income over a predetermined period instead of paying tuition upfront. This innovative approach aims to make education more affordable and accessible. By leveraging technology and predictive modeling, StudentFinance enhances the connection between talent, educational programs, and employers, fostering transparency and improving employment outcomes for graduates.
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