Open Circle Capital

Open Circle Capital is a venture capital investment firm established in 2017 and based in Vilnius, Lithuania. The firm focuses on investing in technology companies within the fields of information and communications technology, robotics, and high-tech, particularly in Northern Europe. Open Circle Capital seeks to collaborate with teams led by experienced entrepreneurs who have a track record of growth, fundraising, and successful exits. The firm is interested in early-stage companies that have recently generated revenue and demonstrate potential for rapid growth and expansion into international markets. Its investment approach begins with discussions to understand the ambitions of the entrepreneurs, followed by a structured evaluation process that culminates in a legal agreement to support the venture.

Audrius Milukas

Partner and CEO

Kasparas Navickas

Senior Analyst

34 past transactions

Pixevia

Venture Round in 2024
PIXEVIA - AI for retail. Our flagship product - fully autonomous stores, powered by AI, cameras, and sensors. You simply walk in, take what you want, and go.

Perfection42

Seed Round in 2023
Perfection42 is an AI platform that specializes in serving visual media companies by facilitating the creation of high-quality content at scale. The platform features a workflow builder that allows businesses to integrate renowned AI models into automated custom workflows, significantly enhancing operational efficiency. By focusing on AI-powered image generation and innovative techniques such as 3D style transfer, Perfection42 aims to streamline the production of computer-generated imagery, particularly for game development. This technology not only accelerates the rendering process but also enriches the quality of video game titles, ultimately benefiting both developers and gaming enthusiasts. The company’s solutions are designed to improve productivity while reducing production costs, making it a valuable asset in the visual media industry.

Billo

Seed Round in 2021
Billo.app UAB is a company based in Kaunas, Lithuania, that has developed a marketing management platform designed to enhance brand engagement. The platform enables users to create and share a variety of video content, including eCommerce videos, advertisements, product showcases, and commercials. By providing tools for bespoke content creation, Billo aims to help brands effectively connect with their audience and enhance their marketing efforts.

Whatagraph

Series A in 2021
Whatagraph is a marketing analytics visualization and automation platform that simplifies the collection, visualization, and delivery of marketing data for agencies and teams. It enables users to blend data from various channels and campaigns, providing a clear overview of performance for clients. The platform features automated report delivery and allows users to integrate custom data through Google Sheets and Public API connections. Whatagraph also offers a white-label option for personalized reporting, enabling users to customize colors, logos, and domains. With ready-to-use templates, users can create marketing performance reports quickly, while real-time team collaboration enhances efficiency. By transforming complex website and social media analytics into visual reports, Whatagraph helps marketing professionals save time and improve client communication.

Smart Vision

Seed Round in 2021
Smart Vision is based in Riga, Latvia. It is an online e-commerce store that sells eye protection lenses, glasses, and sunglasses for men and women, as well as providing delivery services.

Monimoto

Equity Crowdfunding in 2021
Monimoto is a developer and manufacturer of an innovative GPS tracking system designed to combat vehicle theft, particularly for motorcycles. The company's product is designed for ease of installation and use, operating autonomously on battery power and managed through a smartphone application. Monimoto's technology allows users to conveniently monitor the location of their vehicles, including tracking indoors, and provides real-time alerts through call alarms. This system enables vehicle owners to maintain oversight of their motorcycles, thereby significantly reducing the risk of theft when they are away from their vehicles.

Attention Insight

Seed Round in 2021
Attention Insight is a company that specializes in artificial intelligence-based solutions for monitoring consumer visual engagement. Founded in 2019 and headquartered in Vilnius, Lithuania, with an additional office in Hamburg, Germany, it offers a software as a service (SaaS) platform that leverages deep learning and eye movement tracking to analyze design and content. The platform utilizes a visual attention prediction algorithm to generate predictive heatmaps that accurately forecast where users will focus their attention when interacting with content. This enables businesses to make informed, user-centric decisions regarding their marketing materials and design strategies without the need for extensive data collection. By providing pre-launch analytics, Attention Insight aims to enhance advertising campaign effectiveness and overall design performance.

Attention Insight

Seed Round in 2021
Attention Insight is a company that specializes in artificial intelligence-based solutions for monitoring consumer visual engagement. Founded in 2019 and headquartered in Vilnius, Lithuania, with an additional office in Hamburg, Germany, it offers a software as a service (SaaS) platform that leverages deep learning and eye movement tracking to analyze design and content. The platform utilizes a visual attention prediction algorithm to generate predictive heatmaps that accurately forecast where users will focus their attention when interacting with content. This enables businesses to make informed, user-centric decisions regarding their marketing materials and design strategies without the need for extensive data collection. By providing pre-launch analytics, Attention Insight aims to enhance advertising campaign effectiveness and overall design performance.

Smart Vision

Seed Round in 2021
Smart Vision is based in Riga, Latvia. It is an online e-commerce store that sells eye protection lenses, glasses, and sunglasses for men and women, as well as providing delivery services.

Billo

Seed Round in 2020
Billo.app UAB is a company based in Kaunas, Lithuania, that has developed a marketing management platform designed to enhance brand engagement. The platform enables users to create and share a variety of video content, including eCommerce videos, advertisements, product showcases, and commercials. By providing tools for bespoke content creation, Billo aims to help brands effectively connect with their audience and enhance their marketing efforts.

Ars Ingenii

Seed Round in 2020
Ars Ingenii is a developer of innovative logistics and fulfillment solutions specifically designed for the e-commerce sector. The company offers a comprehensive platform that integrates in-house developed hardware and software technologies, including patented robotic material handling systems and automated fulfillment center processes. This technology facilitates a multitier supply chain model that enhances connectivity between consumers and global brands, promoting a streamlined and sustainable online shopping experience. By leveraging artificial intelligence and advanced automation, Ars Ingenii aims to improve efficiency in logistics operations, ensuring prompt delivery from the point of origin to the consumer's doorstep while maintaining a focus on environmental responsibility.

Eddy Travels

Pre Seed Round in 2020
Eddy Travels Inc. is an AI-based digital travel assistant founded in 2018 and based in Vilnius, Lithuania. The company operates an online platform that enables users to search for flights, accommodations, car rentals, and hotel deals directly within popular chat applications such as Facebook Messenger, WhatsApp, Slack, Rakuten Viber, and Telegram. By leveraging artificial intelligence, Eddy Travels provides personalized travel recommendations and helps users find the most cost-effective options in less time. The platform also includes features like voice support, enhancing the overall travel planning experience by offering efficient and user-friendly assistance.

Whatagraph

Seed Round in 2020
Whatagraph is a marketing analytics visualization and automation platform that simplifies the collection, visualization, and delivery of marketing data for agencies and teams. It enables users to blend data from various channels and campaigns, providing a clear overview of performance for clients. The platform features automated report delivery and allows users to integrate custom data through Google Sheets and Public API connections. Whatagraph also offers a white-label option for personalized reporting, enabling users to customize colors, logos, and domains. With ready-to-use templates, users can create marketing performance reports quickly, while real-time team collaboration enhances efficiency. By transforming complex website and social media analytics into visual reports, Whatagraph helps marketing professionals save time and improve client communication.

Perfection42

Pre Seed Round in 2020
Perfection42 is an AI platform that specializes in serving visual media companies by facilitating the creation of high-quality content at scale. The platform features a workflow builder that allows businesses to integrate renowned AI models into automated custom workflows, significantly enhancing operational efficiency. By focusing on AI-powered image generation and innovative techniques such as 3D style transfer, Perfection42 aims to streamline the production of computer-generated imagery, particularly for game development. This technology not only accelerates the rendering process but also enriches the quality of video game titles, ultimately benefiting both developers and gaming enthusiasts. The company’s solutions are designed to improve productivity while reducing production costs, making it a valuable asset in the visual media industry.

Eddy Travels

Pre Seed Round in 2019
Eddy Travels Inc. is an AI-based digital travel assistant founded in 2018 and based in Vilnius, Lithuania. The company operates an online platform that enables users to search for flights, accommodations, car rentals, and hotel deals directly within popular chat applications such as Facebook Messenger, WhatsApp, Slack, Rakuten Viber, and Telegram. By leveraging artificial intelligence, Eddy Travels provides personalized travel recommendations and helps users find the most cost-effective options in less time. The platform also includes features like voice support, enhancing the overall travel planning experience by offering efficient and user-friendly assistance.

Solarbank

Seed Round in 2019
Solarbank is a company focused on renewable energy solutions, specializing in the development of remote solar power plants. Its innovative technology utilizes dual-sided solar modules that capture sunlight from both sides, effectively increasing energy absorption. These modules are mounted on advanced platforms that track the sun's movement throughout the day, optimizing energy generation. By providing this smart renewable energy platform, Solarbank aims to promote sustainable energy consumption for both residential and commercial customers, helping them reduce energy costs and lower their carbon footprint.

Perfection42

Angel Round in 2019
Perfection42 is an AI platform that specializes in serving visual media companies by facilitating the creation of high-quality content at scale. The platform features a workflow builder that allows businesses to integrate renowned AI models into automated custom workflows, significantly enhancing operational efficiency. By focusing on AI-powered image generation and innovative techniques such as 3D style transfer, Perfection42 aims to streamline the production of computer-generated imagery, particularly for game development. This technology not only accelerates the rendering process but also enriches the quality of video game titles, ultimately benefiting both developers and gaming enthusiasts. The company’s solutions are designed to improve productivity while reducing production costs, making it a valuable asset in the visual media industry.

Whatagraph

Seed Round in 2019
Whatagraph is a marketing analytics visualization and automation platform that simplifies the collection, visualization, and delivery of marketing data for agencies and teams. It enables users to blend data from various channels and campaigns, providing a clear overview of performance for clients. The platform features automated report delivery and allows users to integrate custom data through Google Sheets and Public API connections. Whatagraph also offers a white-label option for personalized reporting, enabling users to customize colors, logos, and domains. With ready-to-use templates, users can create marketing performance reports quickly, while real-time team collaboration enhances efficiency. By transforming complex website and social media analytics into visual reports, Whatagraph helps marketing professionals save time and improve client communication.

Tipi

Venture Round in 2019
Tipi is a communication tool designed to enhance team interactions and promote inclusiveness within organizations. It facilitates the organization and sharing of ideas, files, and learnings, thereby improving information management and communication among team members. By bridging gaps between employees, Tipi fosters positive workplace relationships and supports a healthy team environment. The tool aims to keep teams better-informed and productive without the need for constant messaging, allowing businesses to achieve greater efficiency in their operations.

Paysolut

Seed Round in 2019
Paysolut Ltd is a London-based company founded in 2017 that specializes in developing mobile banking software for businesses. The company offers a comprehensive mobile banking platform designed to facilitate various payment processes, including cross-border, person-to-person (P2P), and person-to-merchant (P2M) transactions. Its suite of services includes payment and remittance applications, a payments origination system, system integrations, and a SEPA payments gateway. By providing a single vendor solution that encompasses software, expertise, and partnerships, Paysolut aims to streamline payment operations for businesses, enabling them to save costs and accelerate their growth in the competitive banking software market.

Attention Insight

Seed Round in 2019
Attention Insight is a company that specializes in artificial intelligence-based solutions for monitoring consumer visual engagement. Founded in 2019 and headquartered in Vilnius, Lithuania, with an additional office in Hamburg, Germany, it offers a software as a service (SaaS) platform that leverages deep learning and eye movement tracking to analyze design and content. The platform utilizes a visual attention prediction algorithm to generate predictive heatmaps that accurately forecast where users will focus their attention when interacting with content. This enables businesses to make informed, user-centric decisions regarding their marketing materials and design strategies without the need for extensive data collection. By providing pre-launch analytics, Attention Insight aims to enhance advertising campaign effectiveness and overall design performance.

Smart Vision

Seed Round in 2019
Smart Vision is based in Riga, Latvia. It is an online e-commerce store that sells eye protection lenses, glasses, and sunglasses for men and women, as well as providing delivery services.

Vision Technologies

Seed Round in 2019
Five business units in pursuit of 100% customer satisfaction – expert audio-visual, professional services, security, wireless and structured cabling capabilities. An ITD™ Design-Build methodology like no other. Corporate certifications plus the support of everything IP uniquely qualify us among technology integrators. But that’s just the start. Our committed team, entrenched in a culture of support, works to ensure an unforgettable customer experience. We commit ourselves to the community, supporting veteran’s organizations, United Way, March of Dimes, and more. Plus, a healthy environment for our teammates – caring people focused on great outcomes.

Pixevia

Non Equity Assistance in 2019
PIXEVIA - AI for retail. Our flagship product - fully autonomous stores, powered by AI, cameras, and sensors. You simply walk in, take what you want, and go.

Teamgate

Seed Round in 2019
Teamgate Ltd specializes in developing sales customer relationship management (CRM) software tailored for sales and SaaS professionals. Founded in 2012 and headquartered in London, the company provides a comprehensive platform that includes features such as sales dashboards, lead management, contact management, and sales pipeline management. Its user-friendly interface allows for easy navigation and essential integrations, enabling users to generate data-driven reports and forecasts. Additionally, Teamgate offers a mobile application for tracking sales activities, facilitating effective performance tracking and insights. By streamlining the sales process, Teamgate aims to empower teams to enhance their execution speed throughout the sales cycle.

Whatagraph

Seed Round in 2019
Whatagraph is a marketing analytics visualization and automation platform that simplifies the collection, visualization, and delivery of marketing data for agencies and teams. It enables users to blend data from various channels and campaigns, providing a clear overview of performance for clients. The platform features automated report delivery and allows users to integrate custom data through Google Sheets and Public API connections. Whatagraph also offers a white-label option for personalized reporting, enabling users to customize colors, logos, and domains. With ready-to-use templates, users can create marketing performance reports quickly, while real-time team collaboration enhances efficiency. By transforming complex website and social media analytics into visual reports, Whatagraph helps marketing professionals save time and improve client communication.

sixads

Seed Round in 2019
Sixads, UAB, established in 2018 and headquartered in Vilnius, Lithuania, operates an ad exchange platform designed for online stores to facilitate the exchange of product advertisements. This platform enables businesses to enhance their traffic by displaying products from partner stores. In addition to its core functionality, Sixads offers a Shopify app that assists users in creating and managing effective advertising campaigns on platforms such as Facebook, Instagram, and Google. Users can easily integrate the app into their Shopify store, select products to promote, and customize ad visuals, targeting, and text to optimize their advertising efforts.

Teamgate

Seed Round in 2018
Teamgate Ltd specializes in developing sales customer relationship management (CRM) software tailored for sales and SaaS professionals. Founded in 2012 and headquartered in London, the company provides a comprehensive platform that includes features such as sales dashboards, lead management, contact management, and sales pipeline management. Its user-friendly interface allows for easy navigation and essential integrations, enabling users to generate data-driven reports and forecasts. Additionally, Teamgate offers a mobile application for tracking sales activities, facilitating effective performance tracking and insights. By streamlining the sales process, Teamgate aims to empower teams to enhance their execution speed throughout the sales cycle.

Smart Vision

Seed Round in 2018
Smart Vision is based in Riga, Latvia. It is an online e-commerce store that sells eye protection lenses, glasses, and sunglasses for men and women, as well as providing delivery services.

Perfection42

Angel Round in 2018
Perfection42 is an AI platform that specializes in serving visual media companies by facilitating the creation of high-quality content at scale. The platform features a workflow builder that allows businesses to integrate renowned AI models into automated custom workflows, significantly enhancing operational efficiency. By focusing on AI-powered image generation and innovative techniques such as 3D style transfer, Perfection42 aims to streamline the production of computer-generated imagery, particularly for game development. This technology not only accelerates the rendering process but also enriches the quality of video game titles, ultimately benefiting both developers and gaming enthusiasts. The company’s solutions are designed to improve productivity while reducing production costs, making it a valuable asset in the visual media industry.

Tipi

Seed Round in 2018
Tipi is a communication tool designed to enhance team interactions and promote inclusiveness within organizations. It facilitates the organization and sharing of ideas, files, and learnings, thereby improving information management and communication among team members. By bridging gaps between employees, Tipi fosters positive workplace relationships and supports a healthy team environment. The tool aims to keep teams better-informed and productive without the need for constant messaging, allowing businesses to achieve greater efficiency in their operations.
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