Cocoon Ventures made 150 000 € investment at sTARTUp Day

Cocoon Ventures awarded two winners of the sTARTUp Day Pitching competition with 75 000 € investments. The winning founders will join the self-development and mentoring program Cocoon which is part of the investment. Business festival sTARTUp Day took place on 27-28 August in Tartu, Estonia.

• 330 startups from 51 countries applied to the pitching competition.

• 40 of those startups were selected to get on the sTARTUp Day pitching stage and present their businesses.

• 7 made it to the finals on the main stage.

• 2 won Cocoon Ventures investments of 75 000 € each.

The winning teams for Cocoon Ventures were VSight and Adact.

VSight is a complete collaboration and knowledge-sharing platform that allows remote field technicians and experts to connect with each other and collaborate on maintenance, repair, operations via live video and audio by Augmented Reality. VSight team is from Lithuania.

The CEO of VSight Cihat Kahraman believes that self-development is the basis for every scalable satisfactory happiness and success, especially for the alignment between founders. “That’s why we were very much fascinated by the Cocoon’s perspective on founder oriented approach. We are thrilled by being accepted to the Cocoon Program as we believe that this will be a crucial part of not only our venture but also life.”

Estonian startup Adact is a platform for brands to create personalized game-based lead generation campaigns without writing a single line of code.

"Self-development is definitely one of the most effective ways to keep your head in order, and if you don't deal with it, too many questions will go unanswered, which in turn will cause stress and insecurity,” said Kalev Kärpuk, the CEO of Adact. “I believe that working on self-development brings more clarity about oneself, which ultimately reduces anxiety and increases self-confidence. To my knowledge, Cocoon is the only program that focuses on the founder's self-development and also supports the financial side, which will allow us to prove Adact's scalability and success in the coming year."

Considering the focus of the program, Cocoon Ventures was looking for teams planning to raise A-round, but since the pitching teams were mostly ready for a seed round, they decided to give out two smaller syndicates. “We gave €75k to Adact and €75k to VSight because we see great potential in them to get in A-round very soon,” said Aleksander Tõnnisson, the Founding Partner of Cocoon Ventures.

EstBAN also gave out 250 000 € investment for VSight and is going to give out a second investment within the next two weeks. Read more about the winners of sTARTUp Pitching from their website.

sTARTUp Day is the biggest business festival in the Baltics taking place in Tartu, Estonia. The 2022 sTARTUp Day is on 26-28 January.

Cocoon Program is a business and personal growth program for startup and scaleup founders. It focuses on finding the link between the founder's business and personal challenges and helping to find the solutions.