Second investment in three months: startup “Walk15” attracted another 1 million euros.
The sustainable mobility startup “Walk15” has attracted a 1-million-euro investment. The investment came from venture capital fund “Coinvest Capital”, the “8NGLS” syndicate out of 32 angels led by Justinas Pašys, the CEO of “PVcase”, a solar energy software developer referred to as the unicorn-to-be, Deividas Trainavičius, and others. This is the second investment "Walk15" has secured in just three months.
The healthy lifestyle startup, which unites more than 640,000 users and 1,300 businesses and organizations worldwide, will allocate this investment for expansion into the German market - this month "Walk15" opened the doors of a new office in Berlin.
In two rounds - 1.5 million euros
Among the latest 1-million-euro investors are the venture capital fund “Coinvest Capital”, the “8NGLS” syndicate out of 32 angels led by Justinas Pašys, the CEO of “PVcase”, a solar energy software developer referred to as the unicorn-to-be, Deividas Trainavičius, and others.
At the end of last year, “Walk15” reached a valuation of 15 million euros and attracted a 500,000-euro investment - among the investors was Mantas Mikuckas, co-founder of the Lithuanian unicorn “Vinted”.
“This investment was driven by three key factors: sustainability, global reach, and women's empowerment. We concluded negotiations for the investment with the founder of the startup, Vlada Musvydaite, according to the philosophy of “Walk15” - with a one-and-a-half-hour walk late in the evening in the beautiful Old Town of Vilnius. The results achieved by the entire “Walk15” team, high-quality business and risk management, strategy, Vlada's personality and enthusiasm, the global and unrestrained vision to make healthiness an everyday habit for everyone, inspire and unite all investors into a strong support team. We are delighted to become an equal part of the “Walk15” team”, says Viktorija Trimbel, Managing Director at “Coinvest Capital”.
“Impressive achievements of the startup and trust in the founders - that's what determined our decision to invest in “Walk15”. We have been collaborating with Vlada Musvydaite and her team for four years now, and we are impressed by their ambition and results - over the past three years, the startup has grown 8 times, significantly expanded its business client and app user base, and made successful strides internationally”, says Justinas Pašys.
Walk15 promotes sustainable movement and living
The startup team actively engages employees and clients of companies, along with community members and educational institutions, in sustainable mobility activities across markets including Lithuania, Latvia, Estonia, Denmark, Romania, Germany, the United Kingdom, and beyond. The list of strategic “Walk15” partners and clients includes international organizations and businesses such as Euroleague, “ERGO”, “PENNY”, unicorns “Vinted”, “Nord Security”, and others. It is calculated that more than 10,000 step challenges have been created over the past four years.
“We are growing very fast - this is evidenced by our client geography, the attention of international investors, and our portfolio of competencies. Today, we can be proud not only of a fully formed international team of experienced professionals but also of collaboration with scientists. On a global scale, we address the problem of decreasing physical activity in society and the resulting personal health and healthcare system issues at the national level. I thank the business angels of Lithuania for their continuous support and belief - the latest investment for our team will allow us to reach one of the most important world markets – Germany”, says Vlada Musvydaite-Vilčiauskė, founder and CEO of “Walk15”.
International recognition
According to the latest “Dealroom” report data, “Walk15” has been among the fastest-growing startups in Lithuania in the “Rising Star” category, and at the end of last year, it also entered the “Deloitte Technology Fast 50 Central Europe 2023” as a rapidly growing sustainable startup making an impact on business, society, and the environment.
In 2022, “Walk15” attracted investment from the largest European sustainable mobility fund of this kind, the “EIT Urban Mobility” (an initiative of the European Commission).
“At EIT Urban Mobility we are extremely happy to see the continued success and solid growth of an active mobility - walking - concept. Proving that this can actually be done”, says Peter Vest, Head of Investment & Portfolio Managers at “EIT Urban Mobility”.
This was one of the first investments of this kind in the Baltic region. “Walk15” was chosen for its global potential to help people create healthier and more sustainable movement habits.
ABOUT COINVEST CAPITAL
Coinvest Capital is an early-stage venture capital fund, established by INVEGA, using public funds from the EU and the Republic of Lithuania, co-investing with business angels and other venture capital funds in promising Lithuanian startup companies. Currently, the Fund's portfolio already includes 33 startups. The Fund offers a unique profit-sharing incentive by capping its return on investment at 6% per year, and transferring surplus profits to accredited private co-investors in case of a successful exit. Out of total current AUM (assets under management) of €25.5 million, the available capital for new investments amounts to €13.3 million.
Media contacts:
Coinvest Capital: Viktorija Trimbel
M: +370 610 62000, viktorija.trimbel@coinvest.lt
Walk.15: Rima Olberkytė -Stankus
M: +370 673 34142, rima@walk15.app