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Glassfrogs

Pieter Schoen invests €1M in Focus

Pieter Schoen invests in our portfolio company Focus. Focus uses AI to analyze patents and determine which technologies in various sectors, such as healthcare, agriculture, and the defense industry, are poised for rapid growth. This data-driven approach is seen as a more objective way to assess technological advancements compared to traditional methods, which often rely on human judgment. Notable clients already using Focus’s services include the Pentagon, the conglomerate Reckitt, and the waste management company Suez.

Pieter Schoen was drawn to the background story of the company, especially the founders’ long-standing friendship and their ability to work effectively together. Schoen expresses confidence in the unique and innovative nature of Focus’s software development, which has also convinced major corporations of its value.

Voor more information, read here (in Dutch).

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Investments

Recrubo raises €600K for its platform to make job applications easy using WhatsApp

Tilburg, the Netherlands-based Recrubo, a platform for recruitment professionals, announced on Monday that it has secured €600K in a Seed round of funding to commercially upscale its AI-based recruitment platform.

The company specialises in optimising the hiring process for blue-collar and service-oriented businesses using chat technology. This enables job candidates to apply easily while offering employers efficient tools for candidate management.

Niels Tukker, founder and CEO of Recrubo, says, “An extensive CV is not important for many jobs. When applicants can apply for positions quickly and easily using WhatsApp, that matches the requirements of the younger generation. It is a giant leap forward in terms of the user experience, for jobseekers and employers alike.”

Investors in this round

The funding came from Glass Frog Ventures, Pop Up Qapital, and the Brabant Development Agency (BOM).

Robin Hendrickx, investment manager at BOM, says, “Recrubo is not just a recruitment copilot. The company is also solving a pressing labour shortage problem. Businesses are increasingly struggling to fill job vacancies, making it one of the biggest obstacles for further growth.”

“That makes Recrubo’s impact a fundamental one. Results among buyers have been very promising, and we are delighted that we can play a role in the further growth of the company,” adds Hendrickx.

BOM claims to be a key player in supporting entrepreneurship and innovation in various fields, including sustainable food sources, health, climate-neutral energy, and key technologies. Its mission is to provide startups with the necessary support and funding to thrive and grow into scale-up companies.

Additionally, the firm assists companies looking to expand globally. BOM, operating under the Province of Brabant and the Ministry of Economic Affairs and Climate Policy, plays a vital role in fostering economic development and innovation in the region.

Connecting candidate and company

Founded in 2018 by Niels Tukker, Bram den Ouden and Cédric R., Recrubo offers a unique approach to job applications using WhatsApp and artificial intelligence (AI).

This system streamlines the entire application process, from initial contact to appointment, for both active and passive jobseekers.

The AI-powered platform automatically configures the application process based on job descriptions, ensuring a seamless match between candidates and job requirements.

Recrubo’s AI can promptly respond to applicant inquiries, enhancing the candidate experience. Additionally, the system’s simple setup allows for scalability across various job roles and organisational levels, says the company.

Tukker says, “Things have been going at breakneck pace since the product was launched a year and a half ago, and today Recrubo is already working for large and well-known companies such as Sodexo, FEBO, DHL, and ZEEMAN.”

“Thanks to Recrubo’s software, hundreds of people are entering the workforce every month, but the company has big ambitions – “Five million career entrants in five years,” adds Tukker.

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Glassfrogs

The Power of Earnestness: Key to Startup Success

Earnestness is an undervalued virtue, especially in the realm of startups. It signifies doing something for the right reasons and with unwavering commitment. In the startup world, where motives can be questionable, earnestness sets exceptional founders apart. It reflects a genuine interest in solving problems for their own sake, not just for fame or fortune. The earnest ones, often labeled as “nerds,” possess a powerful motivator—deep passion. While vulnerability accompanies earnestness, it becomes a source of strength in facing complex challenges. Embracing earnestness can lead to remarkable achievements, driving the convergence of intellectual curiosity and financial success.

Read the excellent article by Paul Graham about Earnestness here.

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Uncategorized

GBMS funded by Glass Frog Ventures

GBMS’s mission to minimize container loss at sea is supported by EUR 300k pre-seed funding from an informal investor consortium including Glass Frog Ventures, 60South, Ed Nobel and Iconica.

Their financial support, know-how and expertise will allow GBMS to further develop and commercialize its state-of-the-art real-time container and lashing load monitor system SensoriumC, to containerships worldwide.

Click here to read the full press release.

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Investments

Sensible Healthcare closes pre-seed funding round led by Glass Frog Ventures

We are pleased to help Tim Bruines, Federico Ribet and Mart Snoek to propel Sensible Healthcare forward and to further develop next-generation bio-sensor platform for diabetes management and further applications in the future.

Click here to read the full press release

Categories
Knowledge

The Power of Governance for Tech Start-Up Success

In this video, tech executive and serial entrepreneur Yann Lechelle sits down with INSEAD professors Theos Evgeniou and Ludo Van der Heyden to discuss the hard lessons he has learned. “I’ve founded or co-founded five or six companies, all of which have been sold,” says Lechelle. “But each of them in some way has been a failure.”

https://knowledge.insead.edu/entrepreneurship/maximising-entrepreneurial-potential-governance-insurance

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Glassfrogs

Jungle raises EUR 5 million

Amsterdam & Lisbon, 5 September 2022 – Jungle, one of our investments, has closed a 5 million euro Series A funding round led by SHIFT Invest, complemented by Rocks International Group, EDP Ventures, Gorilla Growth Capital and Future Energy Ventures. This funding allows the company to accelerate the deployment of its technology in the renewable energy and industrial sectors.

Click here to read the full press release.

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Uncategorized

How to fund the early stages: bootstrap of splash?

Some more considerations for founding teams on how to fund the early stages: bootstrap of splash? Interesting article by Sifted: “Bootstrapping vs VC: choosing the best way to fund your startup

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Knowledge

Benefits and drawbacks of accelerators

Accelerators come with benefits and drawbacks for founding teams. In particular non-dilution clauses should be considered with care. In our approach we stress the importance of being equal business partners for founders to be able to work side-by-side with founding teams, stay aligned in interests and not get pitched against each other in due course. Some of these preferential rights can get in the way of future funding possibilities or will cost founding teams dearly.

Read more about this topic in the Mt/Sprout article (in Dutch) “Helft Nederlandse accelerators verlangt aandelen van startups

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Knowledge

Corporate Venture Capital

As the funding landscape for start-ups is getting tougher there are new funding sources as well, such as corporate venture capital, which come with their own limitations and benefits. Our team has in depth experience in this field that can help you navigate the landscape.

For more about this topic you can read the INSEAD article Corporate VC Is Booming, but Is It What Your Start-Up Needs?