What's New: Spring/Summer 2024

Term sheet in human speech

At an early stage, the term sheet may surprise you with a number of unfamiliar terms. Lawyer Bohuslava Horáková adapted Seed Summit's standard term sheet for the Czech legal environment and we have provided it with comments on passages that often cause problems. Have a look! (in Czech)

MitonC

• Our crypto/web3 team has a new visual identity and updated its website accordingly.
• Thanks to all the usual suspects for their collaboration: The visual identity was created by studio ginger&fred. The author of the website is Švejda Goldmann's agency, and Virtii did the coding. The photos were taken by Jana Plavec.
• Filip Široký joined MitonC at the beginning of the year, which was also noted by Forbes (in Czech).

MitonC has also invested in several pre-seed to seed projects (here's the full portfolio)

• MegaETH — the fastest L2 blockchain on Ethereum, where even Ethereum founder Vitalik Buterin invested alongside us.
• Valhalla — a perpetual futures decentralized exchange.
• Accountable — a data platform for verifiable collateralized loans in crypto

AI Topic

• If you want to stay up to date on what's happening in AI, join the more than 1,000 subscribers to our AI newsletter. It comes weekly, it's short, clear and readable.
• We interviewed its author František Dalecký for our blog.
• If you want to go more in-depth and hands-on, watch the hybrid events hosted as part of the Miton AI Times series. The Meetup group already has 600 members and the next episode will take place soon, on July 25. Here are the recordings.
• Tonda Hoskovec, the head of AI at Glami, gave us a talk on AI in healthcare and here's a twitter thread from it.

New investment: Graet

Actually, it's an investment from last year, but it wasn't talked about to give the Graet team some focus time on their work. The goal is to create a global social network for athletes of all levels to showcase themselves, much like you do on LinkedIn, but also to raise financial support from fans.

"Graet solves a real problem that athletes have with their presentation. Instagram solves something, but sport LinkedIn doesn't exist, let alone with the ability to raise money from fans," our Tomas Matějček, commented to Forbes.

Psychedelics

An event in support of psychedelics "Novel Mental Health Treatments and Sustainability of Healthcare Systems: Czechia as a Leader of the EU?" took place at the Liechtenstein Palace with the First Lady and Prime Minister of the Czech Republic. This is an important step towards more sensible regulation and practical use of psychedelics in healthcare, where we are truly a European leader.

ESOP

Since the new legislation, which has not helped startups much, things are still happening. Let's say there is a non-zero chance that the Czech Republic could have more useful modification within a year. However, there is still a long way full of working groups and meetings. Fingers crossed, we are trying to help as much as we can.

Gastro Tech

Our "gastronaut" section continues to work systematically in the field of POS systems. After the increase of our share in Septim, which took place in the autumn last year, we have exercised our option rights to purchase additional shares in two other companies operating POS systems, i.e. ABX software (Harsys) and ComInn (Savarin). Currently, we hold a significant majority in these companies, which enables their progressive convergence and integration. In addition, we are still in discussions with other POS providers operating in the Czech Republic and neighbouring countries on the possibility of cooperation and/or acquisition of shares. We will let you know when it is official.

Hockey founders dinner

The spring founders dinner took place in HolKa in Karlin on the day of the Czech Republic vs. Canada hockey game. We have a photo gallery from this event on our blog.

Zirkuliere!

Interested in re-commerce? Together with Bookbot we are launching an information channel on the topic. You can follow news from all over Europe (not just second-hand books) on Twitter.

From the portfolio

• Rohlik's results are impressive, and the company once again raised a record amount. According to the Czechcrunch ranking, Rohlik is the second largest e-shop in the Czech Republic, now it's Germany's turn, DACH. More in the interview with Tomáš Čupr also on CC.cz.
• Rossum scored in the Sifted ranking, which ranks the fastest growing B2B SaaS startups. He jumped straight from last year's 99th place to 13th place, which is the biggest advancement among all projects. In addition, Rossum introduced Aurora, a custom language model, with the comment "All the benefits of LLMs, none of the hallucinations."
• The specific use of AI in practice? We have. GLAMI has built its own AI model for grouping products and now allows you to compare offers for specific products across eshops. This is already bringing GLAMI a million new visits per month. Not to mention thousands of hours of tedious manual work saved.
• 100ks is now in Poland with art prints by contemporary local artists.
• Bonami has expanded into Italy for a change.
• Biano made its way to Bulgaria and continues to grow in Greece.
• Psyon has become an extended treatment clinic by offering a combination of psychiatric and psychological services. And, every now and then, a review comes along to remind us how much sense it all makes.
• Firefish from the MitonC's portfolio already works in public and an excellent interview with founder Martin Matejka was published in Hospodářky.
• Boataround, a boat booking service, is prospering in a competitive environment and is looking to expand further. Reflex Capital has also newly joined the company, for 5.5 million euros.
• Online camper rental company Campiri has merged with German player FreewayCamper.
• Septim will now be the exclusive supplier of IT solutions for Škoda Auto's catering business. The company processes the daily production, orders and dispensing of meals for more than 35,000 diners.
• UlovDomov grew by 40% and easily surpassed its half-billion turnover.
• Driveto has changed CEO, the new boss is Jan Čornej from Miton.