Looking back at 2023 there was a big decline in the number of investments. There has been a lot of talk about many funds saving “dry powder” and slowing down the pace of new investments. For us at Spintop Ventures this is far from the truth. Instead, we are keeping up our pace and have invested in eight different companies since last summer – and there is more to come in the coming months.
We are firm in our conviction that even in a climate of cautious investment, opportunities abound for the right partnerships. For us it is important to align with companies that exhibit strong growth potential and a clear trajectory towards industry dominance.
With more than a decade of experience with Spintop, raising four funds and investing in 50 companies – we are never rushing. We are always thinking long-term building sustainable value – and that’s part of our strength.
The long-term game
Venture investment is a long-term game where holding periods will span across economic cycles. History shows that many of the most successful new tech companies were founded during downturns in the economy. So even though the headlines have been gloomy during the year, saying that the pace of investments is slowing down and that there is a record high number of unallocated funds and lots of “dry powder”, it’s time to keep up the pace if you’re an investor or a founder of a tech start-up.
The current market situation has resulted in significantly lower valuations compared with a few years ago. However, it takes time to build even a rapidly growing VC-backed startup into a global footprint. The only thing that actually matters is the amount of money that goes in and the amount that comes out, everything in between is just theory and “paper money”. But as always, for us at Spintop, it is most important to find teams with bold visions we can buy into and a relentless drive to execute through successes and setbacks.
Since last summer we have invested in:
Embedl, a spin-off from Chalmers Technical University and a deep-tech company specializing in optimization of deep learning models to increase speed and save energy.
Elastisys, provides a platform to run secure and privacy-compliant cloud implementations meeting the requirements of the most demanding customers.
Aiba – safe digital lives, a cutting-edge cybersecurity startup offering an automated, AI-powered moderation platform to safeguard children and young adults on the internet.
Zymego, a healthcare process technology company, set to address the chronic issue of unfilled appointments due to late cancellations and complex resource planning with a new innovative automated approach to scheduling
Vitala, a health tech startup, aims to redefine how we manage and treat chronic diseases through its innovative approach to support prescribing exercise as medicine, aiming to render exercise as precise and trackable as traditional pharmaceutical treatments.
Tings, a consumer app designed for organizing receipts and product information, leverages artificial intelligence to construct a comprehensive digital repository of users’ belongings. This, in turn, provides users with direct access to spare parts, repair services, and avenues for second-hand sales.
Keenious, an AI-driven academic research tool that enhances the research process by helping users find relevant sources for their work and guiding them on proper use of sources.
VISS.AI, the world’s first AI office worker. Their solution is capable of automating everyday business tasks with high accuracy. The company’s founders want to enable anyone, even people without technological skills, to talk to their apps and automate tasks.
We are very excited about welcoming them to the Spintop family!
If you want to know more about our latest investment, our thoughts about the future of venture capital, or if you disagree, don’t hesitate to contact us.