The Untitled Ventures

The Untitled Ventures is a venture capital firm established in 2010, headquartered in London, UK, with additional offices in Riga, Latvia, and Moscow, Russia. The firm specializes in investing in seed, early, and growth-stage companies, with a focus on innovative technology projects structured under Russian, English, and American law. It primarily invests in companies operating in Eastern Europe, Russia, Belarus, and Ukraine, but also considers opportunities from Western Europe. The Untitled Ventures seeks to back companies entering new markets with proven products, typically investing $0.15 million to $2 million in return for minority stakes ranging from 15% to 30%. The firm offers various investment programs, including The Untitled Seed, The Untitled Club, The Untitled Money, and U Growth, catering to different stages of a company's development.

Mark Cowley

Managing Director

Ksenia Golubeva

Managing Director

Igor Lutz

Co-Founder and Managing Partner

23 past transactions

Naco

Seed Round in 2025
Naco Technologies Ltd, established in 2009 and headquartered in Riga, Latvia, specializes in the development, manufacturing, and supply of nano-coating technologies. The company offers a range of high-performance, multilayer and multicomponent coatings designed to enhance the durability and efficiency of equipment across various industries, including tooling, automotive, aerospace, and micro-chip manufacturing. These coatings, which include oil-enhanced, wear-protective, thermal barrier, and liquid-repellent varieties, are applied to client-supplied parts, creating ready-to-use coated components. In 2015, Naco Technologies was acquired by the Germany-based Schaeffler Group, further expanding its global reach and resources.

Naco

Seed Round in 2023
Naco Technologies Ltd, established in 2009 and headquartered in Riga, Latvia, specializes in the development, manufacturing, and supply of nano-coating technologies. The company offers a range of high-performance, multilayer and multicomponent coatings designed to enhance the durability and efficiency of equipment across various industries, including tooling, automotive, aerospace, and micro-chip manufacturing. These coatings, which include oil-enhanced, wear-protective, thermal barrier, and liquid-repellent varieties, are applied to client-supplied parts, creating ready-to-use coated components. In 2015, Naco Technologies was acquired by the Germany-based Schaeffler Group, further expanding its global reach and resources.

Vama

Seed Round in 2023
VAMA is a comprehensive virtual platform that caters to the spiritual needs of devotees by providing access to e-pujas, e-darshans, and a range of astrology services. The platform enables users to connect with astrologers through calls, messages, or video consultations, offering personalized guidance and horoscope predictions. In addition to these services, VAMA features informative content such as videos, blogs, and tips aimed at addressing various life challenges related to career, marriage, health, finances, and love. By combining traditional spiritual practices with modern technology, VAMA serves as a valuable resource for individuals seeking astrology-based solutions and spiritual experiences.

Naco

Seed Round in 2022
Naco Technologies Ltd, established in 2009 and headquartered in Riga, Latvia, specializes in the development, manufacturing, and supply of nano-coating technologies. The company offers a range of high-performance, multilayer and multicomponent coatings designed to enhance the durability and efficiency of equipment across various industries, including tooling, automotive, aerospace, and micro-chip manufacturing. These coatings, which include oil-enhanced, wear-protective, thermal barrier, and liquid-repellent varieties, are applied to client-supplied parts, creating ready-to-use coated components. In 2015, Naco Technologies was acquired by the Germany-based Schaeffler Group, further expanding its global reach and resources.

Wizart

Seed Round in 2022
AIIA operates in the home improvement industry, focusing on transforming how building materials and home decor are sold. The company leverages advanced digital solutions to connect manufacturers and retailers, enhancing the customer shopping experience. AIIA offers a range of innovative tools, including augmented reality (AR) and virtual reality (VR) visualizers that provide users with an immersive shopping experience akin to visiting a physical showroom. The platform also features a material cloud that enriches product pages with multimedia content and optimized descriptions, as well as a customizable API for creating 3D room layouts and interior scenes. By integrating machine vision technology, AIIA simplifies interior visualization, enabling consumers to make informed choices about paints, wallcoverings, and flooring in their own spaces.

Sportrecs

Seed Round in 2020
Sportrecs LLC is a video streaming service based in Moscow, Russia, that specializes in providing online access to global sports content. The platform allows sports organizations to generate, distribute, and monetize videos across various sports, including football, basketball, rugby, and boxing. By offering a marketplace solution and free tools, Sportrecs enables copyright holders to securely broadcast live games and events, facilitating a seamless experience for consumers seeking sports content.

110 Industries

Pre Seed Round in 2019
110 Industries Limited is a London-based gaming company that develops, publishes, and distributes video games for consoles and cloud gaming services. Established in 2017, the company focuses on creating engaging and entertaining experiences for players in a competitive entertainment landscape. Committed to producing AAA games and other visual entertainment projects, 110 Industries emphasizes strong artistic direction and story-driven design. The company values community involvement and believes that the creativity and talents of its employees and partners are vital to its success. This focus on collaboration and mutual respect underpins its business philosophy and supports its growth strategy, ensuring a connection between the company's values and the value it provides to its investors.

LoyaltyLab

Seed Round in 2018
LoyaltyLab specializes in developing personalization tools aimed at enhancing the offline customer experience for retailers. The company leverages predictive analytics to analyze transactional data and forecast customer behavior, including the timing of future visits and the composition of purchases. By doing so, LoyaltyLab enables retailers to communicate with customers at optimal moments, offering personalized recommendations that align with individual preferences. This approach significantly reduces the reliance on generic promotional communications, addressing the dissatisfaction often experienced by loyalty program participants. The tools provided by LoyaltyLab also incorporate contextual data from various sources to refine recommendations further, enhancing customer engagement and satisfaction. As a result, retailers using LoyaltyLab's solutions can achieve turnover growth of up to 10% and increase revenue by up to 5%.

FIXAR

Pre Seed Round in 2018
FIXAR is a developer of autonomous aerial drones tailored for industrial applications and commercial services. The company specializes in creating software and aircraft designs that enhance flight performance and economic efficiency. FIXAR's drones address various needs, including aerial photography, laser scanning, real-time monitoring, delivery, agriculture, and anti-drone solutions. By focusing on customer requirements, FIXAR aims to deliver reliable and efficient alternatives to existing technologies, enabling clients to utilize unmanned aerial vehicles for a diverse array of professional tasks in a cost-effective manner.

Data Screen

Convertible Note in 2018
Data Screen Inc. specializes in developing cloud-based software solutions that streamline digital content distribution. Founded in 2016 and based in Dover, Delaware, the company offers a software-as-a-service (SaaS) platform that automates the processes between rights holders and licensees. Through a dual-direct API, Data Screen collects raw data from publishers' databases, allowing for the integration of catalog metadata and license terms. This enables rights holders to access comprehensive sales and consumption data from all licenses on a daily basis, effectively managing license terms and generating verified sales reports for royalty calculations. The platform consolidates these functions into a single, user-friendly interface, enhancing efficiency and accuracy in the distribution of digital content.

Data Screen

Convertible Note in 2018
Data Screen Inc. specializes in developing cloud-based software solutions that streamline digital content distribution. Founded in 2016 and based in Dover, Delaware, the company offers a software-as-a-service (SaaS) platform that automates the processes between rights holders and licensees. Through a dual-direct API, Data Screen collects raw data from publishers' databases, allowing for the integration of catalog metadata and license terms. This enables rights holders to access comprehensive sales and consumption data from all licenses on a daily basis, effectively managing license terms and generating verified sales reports for royalty calculations. The platform consolidates these functions into a single, user-friendly interface, enhancing efficiency and accuracy in the distribution of digital content.

Mirow

Convertible Note in 2018
Mirow LLC, founded in 2016 and based in New York, specializes in manufacturing smart mirrors for fitting rooms in retail and hospitality settings. These interactive mirrors utilize touch technology and sensors to enhance the shopping experience by providing personalized recommendations, information on discounts and special offers, and the ability to request assistance from sales staff. Customers can also inquire about items in different sizes or colors. Mirow's innovative approach not only improves customer service but also generates valuable insights into consumer behavior. The company has received recognition in the industry, being featured in notable publications and included in influential retail technology maps. Mirow is expanding its presence in both the United States and European markets, serving a diverse range of high-profile clients.

Sizolution

Seed Round in 2017
Sizolution is a technology-driven platform focused on enhancing the shopping experience in the fashion industry through personalized size and fit assistance. Utilizing advanced 3D human body scanning and AI-enabled tools, Sizolution aims to provide accurate size recommendations tailored to individual customers. By integrating these features into fashion retail, the platform helps stores increase sales and minimize product returns, ultimately delivering a more personalized and satisfying customer experience.

ASAP

Seed Round in 2017
ASAP is a developer of a restaurant management platform that aims to enhance the food ordering experience for both employees and restaurant owners. The platform provides a mobile application for employees to pay with bonuses, order ahead, or arrange office delivery. Additionally, it offers a web interface for office managers to conveniently order various food options, including breakfasts, lunches, and snacks. For restaurant owners, ASAP equips them with tools to implement loyalty programs and create personalized menus, allowing regular customers to easily order their preferred items and generate bills swiftly. Overall, ASAP seeks to streamline food ordering in business districts, making it more efficient and tailored to individual needs.

Inspector Cloud

Pre Seed Round in 2017
Inspector Cloud is a technology company that specializes in automating retail audits through its innovative cloud platform. Founded in 2016 and based in Moscow, Russia, the company offers a solution that enables field personnel to use their mobile devices to upload images of retail shelves. Utilizing advanced image recognition technology, Inspector Cloud identifies stock keeping units (SKUs) and generates digital models of stores, providing real-time analytics on retail audits. This system supports various formats for photo uploads, enhancing accessibility for users. By streamlining the auditing process, Inspector Cloud aims to improve operational efficiency for retailers and brands, ultimately reducing the time spent on manual inventory tasks and increasing sales. Its solutions are leveraged by numerous global brands, positioning the company as a leader in retail image recognition technology.

Sarafan Technology

Pre Seed Round in 2017
Sarafan Technology specializes in the development of Sarafan.AI, an advanced suite of neural networks focused on real-time object recognition in video, similarity search, and text generation. The company’s primary offerings include a Virtual Search Assistant that analyzes screen content, providing users with immediate information about the people, products, and context featured in videos. This assistant enhances video content by adding contextual details and shoppable functionality, improving user engagement and reducing subscription cancellations. Additionally, Sarafan Technology offers video recognition tools tailored for various businesses, capable of learning new object categories within two months. This capability leads to significant cost savings in production efficiency, loss prevention, and labor security. By integrating these technologies, Sarafan Technology aims to transform online marketing and advertising, allowing businesses to connect with their target audiences more effectively through relevant media content.

Driveback

Seed Round in 2016
Driveback is a behavioral marketing and on-site personalization platform that focuses on enhancing consumer engagement and customer loyalty for online businesses. Founded in 2014 and headquartered in Russia, the company offers a website optimization solution designed to help clients, particularly online retailers and marketers, personalize and optimize their websites. Driveback's platform enables users to conduct A/B testing, facilitate interactive user engagement, and tailor content to individual preferences, ultimately aiming to increase online sales and revenue generation for its clients.

E-Contenta

Seed Round in 2016
E-Contenta is a Russian company that specializes in developing and marketing a personalized recommendation service for digital media websites and mobile applications. Founded in 2016, the company leverages artificial intelligence to help brands distribute editorial content through native advertising, enhancing their communication strategies and content engagement metrics. E-Contenta collaborates with notable brands such as SEMrush, Beeline, Whiskas, Pedigree, and PepsiCo, while also partnering with media buying agencies like MGroup, Publicis, Dentsu, and OMD. The platform analyzes user behavior online to predict individual preferences for content consumption, thereby enabling clients to implement personalized marketing strategies and gain insights into consumer choices. E-Contenta has previously secured investments from the Untitled pre-seed fund and Starta Accelerator.

JungleJobs

Seed Round in 2015
JungleJobs is a recruitment service based in Moscow, Russia, that operates as a marketplace connecting employers and recruiters across various industries in Russia and the CIS. The platform aggregates vacant positions from diverse employers, allowing recruiters to find suitable job openings that match their specialization. This approach facilitates effective communication between employers and recruiters, enhancing the recruitment process. JungleJobs aims to provide employers with access to a network of professional recruiters while offering recruiters a competitive source of income. By leveraging modern technology, JungleJobs seeks to improve the overall efficiency of the recruitment industry.

GBooking

Seed Round in 2015
GBooking Ltd., established in 2010 and headquartered in Providence, Rhode Island, specializes in developing and delivering an online booking and appointment scheduling system. The company caters to a diverse range of industries, including healthcare, automotive, food services, sports and fitness, legal services, government, education, beauty care, and more. Its platform enables users to search, compare, and book services, optimizing the relationship between buyers and sellers, and maximizing convenience and time savings for both parties.

GBooking

Seed Round in 2013
GBooking Ltd., established in 2010 and headquartered in Providence, Rhode Island, specializes in developing and delivering an online booking and appointment scheduling system. The company caters to a diverse range of industries, including healthcare, automotive, food services, sports and fitness, legal services, government, education, beauty care, and more. Its platform enables users to search, compare, and book services, optimizing the relationship between buyers and sellers, and maximizing convenience and time savings for both parties.

RecruitLoop

Seed Round in 2013
RecruitLoop is an online recruitment platform that offers a curated marketplace of independent recruiters available on-demand at hourly rates. Founded in Australia in 2011 and later establishing its headquarters in San Francisco, the company aims to reduce recruitment costs for employers by 80-90% compared to traditional recruitment agencies. Through its platform, employers can connect with expert recruiters to outsource various aspects of the hiring process. The service includes an automated video interview product, allowing for efficient candidate screening. By combining technology, data, and human expertise, RecruitLoop provides a streamlined hiring solution for organizations of all sizes, addressing the challenges of costly recruitment agencies and the time-consuming nature of do-it-yourself hiring.

Endorphin

Seed Round in 2012
Endorphin is a cloud-based platform with Open API for digital footprints evaluation. The platform specializes in big social data scoring. Endorphin provides its users with B2B services such as smart social customer segmentation service for e-commerce. It also offers B2C services, including mobile applications for smart social search among first and second degree connections. The platform was launched in 2012 by Artem Zavyalov and Victor Strelbitsky and is based in San Francisco, California.
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