Graduation season reached Luxexpo when nine of the ten startups graduating from the Fit 4 Start acceleration programme pitched in front of an audience of investors.
The event was hosted on the sidelines of the opening day of Luxembourg tech fair ICT Spring on 29 June. The ten were selected from among 304 applications from 42 countries to undergo the thirteenth edition of the programme, offering a six-month intensive acceleration course and €50,000 in investment.
“I think in this case that 13 is a charm,” said economy minister Franz Fayot, opening the event. “ You are now ready for the next step in your paths and in your evolution and development, which I think is going to lead you hopefully to scaling your business.”
The programme, which has been running for the past eight years in Luxembourg benefiting 148 startups, helps startups tackle the main challenges: market fit, team development, funding and advisors.
The graduates
Healthtech ventures
Wavymeet, a university spin-off that offers a remote cardiac digital rehabilitation platform connecting medical professionals and patients. The firm, which aims to reach profitability by 2025, is raising €500k in 2023.
MDsim, computer simulation software as a medical device to create a digital twin of spinal surgery patients which will guide surgeons in how to get the best results in surgery. The startup created by three brothers is now in the process of raising €950k and expects to secure its first customer in 2024.
Poly Diagnostic, a startup producing state-of-the-art molecular diagnostic kits, which use a proprietary diagnostic solution which extends their shelf life. Founded in 2020, the startup serves a dozen private and state-affiliated laboratories.
Posture ai, a South Korean data management and analytics platform that established its EU office in Luxembourg on 28 June. The startup has an MVP of its posture correcting medical device and has reached 60% of its €1m fundraising target.
Digital and data-driven ventures
Augment, a startup digitalising the facility management industry through Building Information Modelling and a cloud platform to connect stakeholders, hardware, software and the digital twin of a building. The firm is now doing a Series A fundraising round aimed at raising €4.6m.
Dès Vu, a service connecting multinational companies with relocation management companies to ease access to housing. The start up is currently raising €400k to expand its team, work on development and marketing.
Fundvis, a fundtech aimed at making fund management workflows more efficient. Its platform, which connects the entire value chain of the fund industry, is used by 15 companies and more than 200 users.
Digital ventures
AI Planet, a platform that aims to make AI accessible to all through education and providing a marketplace to accelerate market adoption by using AI models in software products. The startup is raising €2.5m to accelerate the development of its AI models and reach profitability.
GoNuggets, an e-commerce operating system enabling brands to grow by creating a layer of infrastructure between customers and the marketplace. The startup has signed 20 brands and is in the process of fundraising.
Warden Machinery, a deep learning solution using video analysis to improve efficiency and sustainability in metal production and mining. (This startup did not pitch).
