The Untitled

The Untitled is a venture capital firm founded in 2011 that funds seed through growth-stage technology companies. It invests directly into company equity or loans and seeks projects with a finished product or working prototype and proven metrics at or near payback. The firm focuses on digital technologies, retail and marketplace platforms, advertising, and new retail formats, with activity across Eastern Europe and Russia as well as expanding presence in Western Europe. Its footprint includes headquarters in Riga, Latvia, with offices in Moscow and London, and it operates multiple investment programs that tailor capital to the stage, ranging from seed rounds to larger growth rounds while typically taking minority stakes. By supporting cross-border market entry and international scaling, The Untitled aims to back teams with clear traction and scalable business models.

Ksenia Golubeva

Managing Director

Igor Lutz

Managing Partner

Konstantin Siniushin

Managing Partner

Oskar Stachowiak

Managing Partner

23 past transactions

Naco

Seed Round in 2025
Naco Technologies Ltd is a manufacturer and supplier of advanced nano-coating technologies, specializing in high-performance coatings for various industries including tooling, automotive, aerospace, and microchip production. Founded in 2009 and headquartered in Riga, Latvia, Naco develops multilayer and multicomponent coatings that enhance equipment performance by providing oil-enhanced, wear-protective, thermal barrier, and liquid-repellent properties. The company plays a significant role in the hydrogen sector by creating specialized coatings for Green Hydrogen systems, such as electrolyzers and fuel cells, which improve the reliability of these systems while minimizing the use of costly and scarce materials. In 2015, Naco Technologies was acquired by the Schaeffler Group, a Germany-based company, further strengthening its capabilities and market reach.

Naco

Seed Round in 2023
Naco Technologies Ltd is a manufacturer and supplier of advanced nano-coating technologies, specializing in high-performance coatings for various industries including tooling, automotive, aerospace, and microchip production. Founded in 2009 and headquartered in Riga, Latvia, Naco develops multilayer and multicomponent coatings that enhance equipment performance by providing oil-enhanced, wear-protective, thermal barrier, and liquid-repellent properties. The company plays a significant role in the hydrogen sector by creating specialized coatings for Green Hydrogen systems, such as electrolyzers and fuel cells, which improve the reliability of these systems while minimizing the use of costly and scarce materials. In 2015, Naco Technologies was acquired by the Schaeffler Group, a Germany-based company, further strengthening its capabilities and market reach.

Vama

Seed Round in 2023
Vama is a virtual platform that connects users with a range of spiritual services, including e-pujas, e-darshans, and astrology. Catering to devotees both in India and globally, Vama facilitates access to professional astrologers through various communication methods such as calls, messages, and video calls. The platform also provides horoscope predictions, informative videos, blogs, and practical tips, enabling users to seek guidance on various aspects of life, including career, marriage, health, finances, and relationships. By combining these services, Vama aims to create a comprehensive and accessible resource for individuals seeking spiritual insights and support.

Naco

Seed Round in 2022
Naco Technologies Ltd is a manufacturer and supplier of advanced nano-coating technologies, specializing in high-performance coatings for various industries including tooling, automotive, aerospace, and microchip production. Founded in 2009 and headquartered in Riga, Latvia, Naco develops multilayer and multicomponent coatings that enhance equipment performance by providing oil-enhanced, wear-protective, thermal barrier, and liquid-repellent properties. The company plays a significant role in the hydrogen sector by creating specialized coatings for Green Hydrogen systems, such as electrolyzers and fuel cells, which improve the reliability of these systems while minimizing the use of costly and scarce materials. In 2015, Naco Technologies was acquired by the Schaeffler Group, a Germany-based company, further strengthening its capabilities and market reach.

Wizart

Seed Round in 2022
Wizart aims to revolutionize the home improvement industry by connecting manufacturers and retailers via advanced digital solutions. They offer AR/VR visualizations (Visualizer), rich media product management tools (Material Cloud), and customizable API integrations (Vision API) for wallcoverings, flooring, tiles, rugs, and home decor products.

Sportrecs

Seed Round in 2020
Sportrecs operates an online video platform dedicated to sports. It offers a marketplace solution for generating, distributing, and monetizing sports videos, benefiting various sports organizations.

110 Industries

Pre Seed Round in 2019
Founded in 2017, 110 Industries is a London-based video game developer and publisher. The company creates and distributes games for gaming consoles and cloud gaming services, aiming to deliver engaging entertainment experiences.

LoyaltyLab

Seed Round in 2018
LoyaltyLab is a company focused on enhancing the retail customer experience through advanced personalization tools. By analyzing transactional data and integrating external information, LoyaltyLab predicts customer behavior, including the timing of future visits and the composition of purchases. This predictive analytics approach enables retailers to engage customers at optimal moments, reducing the prevalence of irrelevant communications that often lead to dissatisfaction. The company’s solutions facilitate tailored recommendations, helping retailers understand and anticipate customer needs, which can drive turnover growth and increase revenue. By effectively utilizing data to enhance customer interactions, LoyaltyLab aims to transform the retail landscape, ultimately fostering greater customer loyalty and satisfaction.

FIXAR

Pre Seed Round in 2018
FIXAR is a prominent developer of autonomous aerial drones tailored for industrial applications and commercial services. The company specializes in creating innovative software and aircraft designs that address various challenges, including aerial photography, laser scanning, real-time monitoring, delivery, agriculture, and the anti-drone sector. FIXAR's drones enhance flight performance and offer economic advantages, enabling industrial operators to utilize unmanned aerial vehicles effectively for diverse professional tasks. By focusing on customer needs, FIXAR delivers solutions that improve efficiency and reliability compared to existing alternatives.

Data Screen

Convertible Note in 2018
Data Screen Inc. is a software development company based in Dover, Delaware, founded in 2016. It specializes in creating cloud-based solutions that streamline the processes of digital content distribution. Through its system as a software (SaaS) offering, Data Screen automates the collection and management of raw data from licensees via a dual-direct Application Programming Interface (API). This technology allows right holders to access comprehensive sales and consumption data for all licenses on a daily basis. Additionally, Data Screen enables users to manage license terms and obtain verified sales reports for royalty calculations and statements, all through a single, intelligent interface. By replacing complex manual processes, Data Screen enhances efficiency and transparency in the digital content licensing landscape.

Data Screen

Convertible Note in 2018
Data Screen Inc. is a software development company based in Dover, Delaware, founded in 2016. It specializes in creating cloud-based solutions that streamline the processes of digital content distribution. Through its system as a software (SaaS) offering, Data Screen automates the collection and management of raw data from licensees via a dual-direct Application Programming Interface (API). This technology allows right holders to access comprehensive sales and consumption data for all licenses on a daily basis. Additionally, Data Screen enables users to manage license terms and obtain verified sales reports for royalty calculations and statements, all through a single, intelligent interface. By replacing complex manual processes, Data Screen enhances efficiency and transparency in the digital content licensing landscape.

Mirow

Convertible Note in 2018
Mirow LLC is a New York-based company founded in 2016 that specializes in manufacturing smart mirrors for fitting rooms, designed to enhance the retail experience. These interactive mirrors utilize touch technology and sensors to identify customer preferences, offering personalized recommendations, information on discounts, and automated assistance. Customers can easily call for sales support or request items in different sizes or colors directly from the fitting room. Mirow's innovative approach not only improves the quality of service but also provides retailers with valuable insights into customer behavior and preferences. The company has gained recognition in the retail and hospitality sectors and is expanding its presence in both the US and EU markets, serving a range of top-tier brands.

Sizolution

Seed Round in 2017
Sizolution is an AI-driven fashion platform focused on personalized size and fit for retailers. It offers 3D body scanning and AI-enabled personalization tools to provide customized sizing guidance and product experiences, helping fashion stores boost sales and reduce returns by delivering a more accurate 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 develops an AI-powered SaaS platform for automating retail audits. It uses image recognition technology to create digital models of stores, track stock levels in real-time, and provide insights to optimize merchandising. Established in 2016, the company serves global consumer goods brands.

Sarafan Technology

Pre Seed Round in 2017
Sarafan Technology develops AI-driven video recognition tools. Their core product, Sarafan.AI, enables real-time object recognition in videos, similarity search, and text generation. The company offers a Virtual Search Assistant that enhances video content with contextual information and shoppable functionality, reducing subscription cancellations. Additionally, they provide customizable video recognition tools for various industries, improving production efficiency and loss prevention.

Driveback

Seed Round in 2016
Driveback is a company founded in 2014 and headquartered in Russia that specializes in real-time marketing solutions for online businesses. It offers a behavioral marketing and on-site personalization platform aimed at enhancing consumer engagement and customer loyalty. Driveback's technology allows online retailers and marketers to optimize their websites through methods such as A/B testing, interactive user engagement, and content personalization. By employing these tools, Driveback enables its clients to improve their sales performance and increase revenue from their online platforms.

E-Contenta

Seed Round in 2016
E-Contenta is an AI-driven content distribution and personalized marketing SaaS that enables digital media websites and mobile apps to deliver tailored recommendations and native advertising. The platform analyzes user behavior to predict what each person would like to watch, read, listen to or buy, and personalizes messaging across the marketing funnel for media companies and online shops. It supports brands in distributing editorials as native ads and in measuring engagement metrics such as pages per session and time spent on blogs, while helping optimize content and communications. The company serves brands and media agencies through partnerships and is based in Russia.

JungleJobs

Seed Round in 2015
JungleJobs is a Moscow-based recruitment services provider that operates an online marketplace, connecting employers with recruiters across various industries throughout Russia and the CIS. The platform facilitates effective communication by enabling employers to easily identify recruiters with niche specializations, while allowing recruiters to discover interesting job vacancies. By uniting diverse job openings and reliable recruiters, JungleJobs enhances the recruitment process, offering employers greater access to professional recruitment services and providing recruiters with new income opportunities. The company's innovative approach and use of modern technology aim to elevate the overall recruitment landscape.

GBooking

Seed Round in 2015
GBooking Ltd. is a company that specializes in developing an online booking and appointment scheduling system tailored for various industries, including healthcare, automotive, food, sports and fitness, legal services, government, education, and beauty care. Founded in 2010 and headquartered in Providence, Rhode Island, GBooking aims to optimize the buyer-seller relationship by enhancing convenience and efficiency in service selection. The platform allows users to search, compare, and book a diverse range of services while also serving as a marketing channel for small and medium enterprises. Through its innovative approach, GBooking enables businesses to convert missed leads into paying customers and effectively manage their customer interactions, ultimately maximizing profitability and improving user experience.

GBooking

Seed Round in 2013
GBooking Ltd. is a company that specializes in developing an online booking and appointment scheduling system tailored for various industries, including healthcare, automotive, food, sports and fitness, legal services, government, education, and beauty care. Founded in 2010 and headquartered in Providence, Rhode Island, GBooking aims to optimize the buyer-seller relationship by enhancing convenience and efficiency in service selection. The platform allows users to search, compare, and book a diverse range of services while also serving as a marketing channel for small and medium enterprises. Through its innovative approach, GBooking enables businesses to convert missed leads into paying customers and effectively manage their customer interactions, ultimately maximizing profitability and improving user experience.

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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