Congratulations! Tehnopol Startup Incubator’s alumni raised money and are looking to conquer foreign markets

One goal of the Tehnopol Startup Incubator programme is to get new companies starting up ready for investors within six months, and we are pleased to announce our next two success stories, which have raised over 525,000 euros from the programme. The two up-and-coming businesses are CAV Solution and Wisby, formerly called Bide, and they received the traditional gold hockey sticks from Startup Incubator that symbolise the journey of a startup through shocks and challenges to a powerful growth curve.

CAV Solution, which graduated from the Tehnopol Narva incubation programme, received 125,000 euros from angel investors at Pipedrive Angels and Garage Entertainment OÜ, and plans to enter the US market. Read more about it here.

CAV Solution was founded a little over a year ago, and has grown rapidly since the beginning. The startup specialises in age verification services for clients and has developed an add-on module for age verification that is designed for various vending machines around the world. The process is simple: the client goes up to the vending machine and puts their document into the reader, and the camera checks the photograph in the document against the face in front of it.

CAV Solution is working hard to promote the startup abroad as well, attending various trade fairs, including the Self-Service Innovation Summit in Miami last year. There they presented their ideas to potential clients and purchasers, leading to several offers from various firms. The team plans to go again to fairs and conferences in the USA, as the culture of buying from vending machines is highly developed there and so there are many businesses that would be interested in their products.

Wisby, formerly Bide, received venture capital of 400,000 euros from the Swedish company Icebreakers VC and the Estonian company Thorgate Ventures. The next funding round is planned for the autumn. The company is looking to use its solutions to create a revolution in printing in Europe.

Wisby is one of the first online ordering platforms for labels in Europe, bringing together products from label producers all across Europe in its first phase. The company aims to consolidate the core of European label manufacturers on its own platform so that it can provide everything that is needed all in one place and so make prices 25% cheaper for the food and beverage industry and expand to become the number one ordering platform for the printing industry. 

The solution itself has three main functions, with a customer environment where labels can be requested and the best price quoted automatically and instantly; a passive ordering channel for production companies; and the Wisby environment, which acts as a management programme for both parties, storing the full order history and working files to make the whole process as simple as possible for both sides.

We wish both companies great success and will follow their progress with keen interest!