MSM

Mustard Seed Maze (MSM) is an impact investment firm based in Lisbon, Portugal, established in 2018. As a joint venture between Mustard Seed and MAZE, MSM focuses on early-stage ventures in Europe, specifically targeting companies at the pre-seed to Series A stages. The firm is dedicated to supporting entrepreneurs who are committed to creating sustainable businesses that address significant social and environmental challenges. With a fund size of 45 million euros, MSM aims to empower brave founders who are devising innovative solutions to some of the world's most pressing issues.
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Sofia Queiroz

Principal

34 past transactions

Biorce

Seed Round in 2024
Biorce is a pioneering HealthAI startup dedicated to revolutionizing drug development via artificial intelligence. The company's core product is a clinical AI assistant, designed to streamline clinical trials, enhancing both speed and cost efficiency. This platform grants access to clinical data, empowering researchers to accelerate medical advancements and ultimately improve patient outcomes.

UpLink

Venture Round in 2024
UpLink is a telecommunications company founded in New York in 2016 by Carlos Lei Santos and Andre Francisco. It operates a decentralized wireless connectivity platform that integrates with Wi-Fi routers to create a shared network, aiming to expand internet access, particularly in underserved regions. The platform uses blockchain-based incentives and automated optimization protocols to enhance connectivity, reduce costs, and improve reliability.

UpHill

Series A in 2024
UpHill is a digital health startup focused on enhancing patient care through its clinical pathway software, which integrates seamlessly with existing hospital information systems. The software automates tasks and bridges gaps in care, providing healthcare providers with a comprehensive view of patient status throughout their journeys. By leveraging evidence-based knowledge through structured clinical pathways, UpHill enables healthcare teams to improve patient outcomes and streamline care processes. The company collaborates with leading healthcare providers and life science organizations across Europe to minimize care variability and fragmentation, ultimately enhancing both patient outcomes and hospital revenues. UpHill is dedicated to ensuring that both healthcare professionals and patients receive optimal care at all times.

Yurtle

Seed Round in 2024
Yurtle is an insurance technologies company founded in 2021 and based in London, United Kingdom. It specializes in providing employee group insurance protection through a care management platform that aims to deliver financial benefits in the event of illness or accidents. Yurtle offers insurance packages tailored for employers, allowing them to safeguard their workers. Additionally, the company features a caregiver exchange that enables employees to seek advice and share experiences with others in similar situations. This support structure helps employees receive either a daily allowance or a lump sum payment in emergencies, thereby enhancing their financial security during challenging times.

Win-Win

Series A in 2023
Win-Win is a fermentation food tech company specializing in creating delicious, harm-free, and guilt-free alternative ingredients. Their products aim to be better for both the planet and its people.

GoParity

Seed Round in 2023
GoParity is an online investment platform based in Lisbon, Portugal, founded in 2017. It facilitates crowdfunding for sustainable projects by connecting investors with initiatives in areas such as renewable energy, blue economy, smart cities, rural development, and social entrepreneurship.

Flecto

Venture Round in 2022
Flecto operates an online platform that facilitates equipment rentals for businesses, promoting a circular economy. It offers integrated services like instant insurance and automated invoicing to streamline operations, enabling rental businesses to manage scheduling, bookings, inventory, and customer relations more efficiently while expanding their digital presence.

tl;dv

Seed Round in 2022
tl;dv is a company specializing in meeting productivity tools designed to enhance focus and engagement during meetings. Founded in April 2020 by Raphael Allstadt and Carlo Thissen in Köln, Nordrhein-Westfalen, tl;dv offers software that enables teams to record remote meetings and highlights key moments in real time. This functionality allows team members to efficiently review significant discussions and updates, ultimately saving time and ensuring everyone remains informed. By facilitating easier access to crucial information, tl;dv aims to improve overall meeting effectiveness and productivity.

Maven Pet

Pre Seed Round in 2022
Maven is a SaaS pet tech startup that provides a personal vet to track the pet’s safety and health 24/7. It focuses on using technology to improve the quality of life for pets, as well as offering pet owners peace of mind and a way to keep track of their pet's safety, health, and well-being on a continual basis through their own personal veterinarian. It was started by the founders of Findster Technologies in 2021 and is based in the US and Portugal.

Sojo

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

Ivy Protocol

Pre Seed Round in 2022
Ivy is building the infrastructure to connect pre-certified environmental projects with funding and resources — quicker, reliably, and easier to manage.

Connect Earth

Pre Seed Round in 2022
Founded in 2021, Connect Earth is a London-based environmental data company that democratizes access to sustainability data. It offers a carbon tracking API technology to empower individuals and institutions to make sustainable choices by providing transparent insights into the climate impact of daily spending.

Chatterbox

Pre Seed Round in 2022
Chatterbox is a corporate language learning platform that connects professionals seeking language skills with native-speaking coaches who share similar professional backgrounds and interests. The platform enhances the learning experience by allowing users to practice actively with tutors, many of whom are displaced professionals currently underutilized in the job market. Chatterbox offers tutoring in various languages, including Arabic, French, Mandarin, and Spanish, and focuses on improving communication and cultural intelligence within corporate settings. The company aims to deliver effective language training that equips employees with the necessary business vocabulary to achieve professional fluency, resulting in high course completion rates. Co-founded by a former refugee and a Y Combinator alum, Chatterbox is supported by prominent investors.

Your Juno

Seed Round in 2022
Your Juno is a financial education platform dedicated to empowering women and non-binary individuals with essential financial knowledge. The company focuses on providing accessible and comprehensive financial education through workshops and resources, addressing topics that are often overlooked in traditional educational settings. By embracing an open and global financial system, Your Juno aims to help users improve their financial health regardless of their location or income level.

Knokcare

Series A in 2021
Knokcare is an app-based healthcare platform that connects patients with doctors and independent medical professionals through on-demand video consultations, house visits, and in-person appointments. The platform integrates remote and in-person care within a single application, using an AI chatbot to help patients self-assess, guide them to appropriate video or in-home visits, and coordinate with hospitals when necessary. It aims to streamline care for patients while improving efficiency for health systems by routing urgent cases to hospital services and securely managing patient records to protect privacy. The service supports medical institutions and providers by facilitating real-time communication, remote assessments, and convenient access to care.

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.

UpHill

Seed Round in 2021
UpHill is a digital health startup focused on enhancing patient care through its clinical pathway software, which integrates seamlessly with existing hospital information systems. The software automates tasks and bridges gaps in care, providing healthcare providers with a comprehensive view of patient status throughout their journeys. By leveraging evidence-based knowledge through structured clinical pathways, UpHill enables healthcare teams to improve patient outcomes and streamline care processes. The company collaborates with leading healthcare providers and life science organizations across Europe to minimize care variability and fragmentation, ultimately enhancing both patient outcomes and hospital revenues. UpHill is dedicated to ensuring that both healthcare professionals and patients receive optimal care at all times.

Vanilla Steel

Seed Round in 2021
Vanilla Steel is a Berlin-based company that operates an electronic platform for buying and selling excess steel and stainless steel. It focuses on making it easier for buyers to source excess materials directly from European producers and processors. The platform offers a variety of products, including semi-finished, overrolling, and declassified materials, as well as aged inventory. As the only independent digital platform for excess steel in Europe, Vanilla Steel leverages technology to facilitate online auctions, enabling seamless transactions between buyers and suppliers. The founding team comprises four tech entrepreneurs with a combined 50 years of digital experience, dedicated to addressing industry challenges through innovative solutions.

GoParity

Pre Seed Round in 2021
GoParity is an online investment platform based in Lisbon, Portugal, founded in 2017. It facilitates crowdfunding for sustainable projects by connecting investors with initiatives in areas such as renewable energy, blue economy, smart cities, rural development, and social entrepreneurship.

IconoClass

Seed Round in 2021
IconoClass operates a specialized business school focused on equipping students with practical skills in business development. Its four-month intensive program offers hands-on learning opportunities with partner companies like Doctolib, Deliveroo, Spendesk, and SumUp, preparing graduates for roles such as sales development representative, business developer, customer success manager, and commercial sales representative.

KETS Quantum Security

Series A in 2021
KETS Quantum Security Ltd, established in 2016 and headquartered in Bristol, United Kingdom, specializes in creating secure communication solutions leveraging quantum technologies. The company offers quantum key distribution (QKD) for secure data transmission and a low-power footprint chip designed to ensure future-proof, quantum-safe communications. Additionally, KETS provides quantum random number generation (QRNG), which serves as a cryptographic entropy source.

StudentFinance

Seed Round in 2021
Founded in Madrid in 2019, StudentFinance is a company that provides educational financing services. It uses AI-driven data forecasting to select students with technical skills who can become software engineers, data analysts, or cybersecurity experts. The company invests in these students' education and helps them secure jobs, with repayment tied to future earnings.

Kitch

Seed Round in 2021
Kitch, Unipessoal Lda is a restaurant based in Lisbon, Portugal, founded in 2020. The company specializes in offering online food orders and delivery services, enabling restaurants to sell their dishes directly to customers. By providing a platform that empowers restaurants to manage their online sales on their own terms, Kitch enhances the dining experience for both consumers and food establishments.

Loctax

Seed Round in 2021
Loctax is a collaborative platform designed for global in-house tax teams. It centralizes tax compliance, risk management, governance, projects, audits, transfer pricing, and other tax responsibilities. The platform aims to enhance efficiency, transparency, and decision-making while preparing organizations for the evolving landscape of environmental, social, and governance (ESG) factors.

tl;dv

Pre Seed Round in 2021
tl;dv is a company specializing in meeting productivity tools designed to enhance focus and engagement during meetings. Founded in April 2020 by Raphael Allstadt and Carlo Thissen in Köln, Nordrhein-Westfalen, tl;dv offers software that enables teams to record remote meetings and highlights key moments in real time. This functionality allows team members to efficiently review significant discussions and updates, ultimately saving time and ensuring everyone remains informed. By facilitating easier access to crucial information, tl;dv aims to improve overall meeting effectiveness and productivity.

Outmind

Pre Seed Round in 2020
Outmind is a French company established in 2019, based in Palaiseau. It specializes in developing a search engine that integrates with various internal tools, enabling users to efficiently access and organize relevant data such as emails and documents. By leveraging artificial intelligence, Outmind enhances team productivity by allowing users to search across multiple platforms, categorize institutional knowledge, and identify subject matter experts. This innovative approach helps businesses streamline their information retrieval processes and improve the management of reference documents.

Knokcare

Seed Round in 2020
Knokcare is an app-based healthcare platform that connects patients with doctors and independent medical professionals through on-demand video consultations, house visits, and in-person appointments. The platform integrates remote and in-person care within a single application, using an AI chatbot to help patients self-assess, guide them to appropriate video or in-home visits, and coordinate with hospitals when necessary. It aims to streamline care for patients while improving efficiency for health systems by routing urgent cases to hospital services and securely managing patient records to protect privacy. The service supports medical institutions and providers by facilitating real-time communication, remote assessments, and convenient access to care.

Kitch

Pre Seed Round in 2020
Kitch, Unipessoal Lda is a restaurant based in Lisbon, Portugal, founded in 2020. The company specializes in offering online food orders and delivery services, enabling restaurants to sell their dishes directly to customers. By providing a platform that empowers restaurants to manage their online sales on their own terms, Kitch enhances the dining experience for both consumers and food establishments.

Omocom

Seed Round in 2020
Omocom AB is a Stockholm-based company specializing in the provision of micro-insurance products tailored for the sharing and renting economy. Founded in 2017 and originally named Sharin AB, the company rebranded in September 2019 to reflect its focus on creating innovative insurance solutions. Omocom offers a platform that simplifies and automates the insurance process for both short-term and long-term coverage, making it easier for users to access safe and secure insurance as part of their digital transactions. Its services are designed to integrate seamlessly with various online platforms, allowing clients to enhance resource utilization while promoting sustainability.

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
Valuebeat is an innovative company specializing in HR and recruitment technology. It offers a SaaS-based talent lifecycle tool that assists organizations in measuring and mapping the employee values that shape their company culture. By analyzing and tracking the alignment between individual values and organizational culture, Valuebeat enables businesses to make informed, data-driven decisions aimed at enhancing employee satisfaction and retention. This approach helps organizations improve their cultural alignment, ultimately leading to better outcomes for both employees and the company as a whole.

StudentFinance

Seed Round in 2019
Founded in Madrid in 2019, StudentFinance is a company that provides educational financing services. It uses AI-driven data forecasting to select students with technical skills who can become software engineers, data analysts, or cybersecurity experts. The company invests in these students' education and helps them secure jobs, with repayment tied to future earnings.

GoParity

GoParity is an online investment platform based in Lisbon, Portugal, founded in 2017. It facilitates crowdfunding for sustainable projects by connecting investors with initiatives in areas such as renewable energy, blue economy, smart cities, rural development, and social entrepreneurship.
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