Launched in June, the €150 million Presto Tech Horizons fund has announced its first deals, as reported to Vestbee. Vidar Systems, Bavovna, and Tur.ai received the funding and joined the firm's portfolio.
Bavovna raised $1.7 million in a late-seed round. Presto Tech Horizons is a lead investor.
- Bavovna is a US-Ukrainian startup that develops AI-powered navigation systems for uncrewed vehicles, including drones and other platforms.
- As the company's team claims, its technology operates effectively even when GPS signals are blocked, such as in areas affected by electronic warfare. By combining hardware with AI software, the Bavovna helps vehicles stay on course and maintain accurate timing in challenging environments.
Vidar Systems raised a pre-seed funding round.
- Vidar Systems specializes in portable AI-driven acoustic weapon locating systems for artillery detection, friendly gunfire correction, and battlefield awareness.
- The startup's technology can be used to detect hostile attacks, along with enhancing the protection of strategic assets and civilian infrastructure. Vidar Systems solutions are already being utilized by the Ukrainian military.
Tur.ai raised $1.45 million in a seed round, with Presto Tech Horizons contributing $1.2 million as a lead investor.
- Founded by Ukrainians Ievgen Miasushkin and Pavlo Kozhokar, Tur.ai is based in the Netherlands. The startup develops a robotic process automation (RPA) platform that enables non-technical teams to automate complex business processes without IT support.
- Tur.ai streamlines critical operations across various sectors, delivering significant scalability and high ROI, as evidenced by a Dutch distributor that tripled its quote output without changing its team or software.
"We’re already assisting the founders of our new portfolio companies in overcoming major challenges on the path to global success. The business and product synergies within the group make it easier for them to access customers, open up foreign markets, and drive rapid growth," comments Premysl Rubes, Founding Partner of Presto Tech Horizons.
Along with closing the first deals, the fund welcomed seasoned investor Lucie Bresova on board. Previously, she led Kiwi.com's global expansion, scaling the workforce from 10 to 2,000 employees and increasing annual turnover to €1 billion.
About Presto Tech Horizons
- Presto Tech Horizons is backed by a partnership between the VC firm Presto Ventures and Michal Strnad’s industrial technology group, Czechoslovak Group (CSG). It targets the most promising tech projects from NATO countries and their allies.
- The fund plans to make further investments, including integrating general AI for industrial robots and developing an intelligent system for securing railway transportation. A startup focused on creating quantum algorithms to tackle complex computational challenges in cryptography, logistics, and drug development is also on the shortlist.
