The company received EUR 500,000 million as well as the opportunity to convince private investors on the Crowdberry platform to support its growth.
Technology startup Cviker received the investment of EUR 550,000 from the state’s investment package, which is under administration of Slovak Investment Holding, and managed by CB Investment Management. It is aimed to support nascent companies and startups from all regions of Slovakia. Cviker is thus the first company that has been supported by CB Investment Management from this fund. The company will use the capital to launch its fully paid version of the platform designed primarily for customers in the US and to expand the team in Slovakia.
CB Investment Management is a subsidiary of Crowdberry, and it manages funds totaling nearly 12 million euro. These funds come from the resources of Slovak Investment Holding and from the own resources of CB Investment Management. The administrator of the fund actively seeks young Slovak companies with less than three years of business history and with international potential. These companies have the opportunity to acquire an investment not only from the fund, but also from private investors on the Crowdberry investment platform.
“We already register the interest of the private sector in investing in the company Cviker.”, states Michal Nešpor, the partner at CB Investment Management. “Private investors are able to join the fund investment through the Crowdberry platform and invest another EUR 500,000 in Cviker. In total, the company may acquire growth capital in amount of more than 1 million euro. Additionally, the company could attract more investors, who can help Cviker develop its existing collaborations and reach out to new clients in the North America and European markets.
Cviker, founded in Poprad’s f(IT)cubator and later developed in the American Smart City Works, has developed the cloud platform AKULAR specifically for the needs of the real estate market. It automates all kinds of complex 3D models of buildings and facilities and allows to quickly visualize them through phones and tablets to investors, architects and the general public with whom the developer wants to communicate. The whole project including technical and transport infrastructure in augmented reality, in real size and in the context of the surroundings before the construction begins. This solution can save time and costs of architects, project managers, real estate developers and clients. What used to take weeks or even months Cviker now delivers within hours.
After the pilot projects in cooperation with the world’s leading American real estate developers, several companies and smart cities on the European and American continents have already shown interest in company’s solution. These include Boston Properties and TriGranit, one of the largest real estate developers in the CEE region. Recently, Cviker prepared a visualization of the iconic real estate project of the Amazon headquarters in Washington DC, the so-called National Landing by JBG Smith group, and Long Island City region by Plaxall.
“We assume that Cviker will become an attractive opportunity for a larger investment, or more precisely for an acquisition by international IT companies or investment funds focused on the growing sector of artificial intelligence (AR) and innovative communication in the PropTech sector.”, explains M. Nešpor. “We estimate the return on invested capital in multiples. After successful acquisition of the company, the capital will return to Slovak Investment Holding and will be used to support other growth companies.”, emphasizes Michal Nešpor. “We already shortlisted four other interesting companies from the regions of Slovakia. It is good news, as each of them plans to invest in development and create new jobs.”