Presto Tech Horizons Fund has announced investment in its first three portfolio companies.
The fund is backed by a unique partnership between the VC firm Presto Ventures and Michal Strnad’s industrial technology group, Czechoslovak Group (CSG) that is investing €150 million in the most promising tech projects from NATO countries and their allies.
The first investments will support the following tech companies:
Bavovna: the US-Ukrainian team has developed a hybrid AI-driven navigation system that allows unmanned vehicles (UVs) to operate autonomously, even in environments where remote navigation is disrupted. This applies to drone operations in areas with compromised GPS signals and, in the future, logistics such as last-mile drone delivery. The company has raised $1.7 million with PTH as its lead investor.
Vidar System: the company specialises in portable AI-driven acoustic locating systems. The technology can be used on the battlefield to detect hostile attacks, as well as to enhance the protection of strategic assets and civilian objects. Their products are already being successfully deployed by the Ukrainian military to defend against artillery shelling.
Tur.ai: a Dutch startup developing robotic process automation (RPA) for enterprises. Its AI tools can automate internal business operations as well as processes that involve customers and partners – and do so in real-time. This is particularly useful for financial institutions, telecom operators, and logistics companies, for instance. The company has raised $1.45 million with PTH as its lead investor.
Premysl Rubes, founding Partner of Presto Tech Horizons shared:
“Since the spring, we’ve jointly evaluated over 1,200 startups from 15 countries and met with hundreds of skilled tech entrepreneurs.
We’re already assisting the founders of our new portfolio companies in overcoming major challenges on the path to global success. The business and product synergies within the group make it easier for them to access customers, open up foreign markets, and drive rapid growth.”
Additionally, Lucie Bresova is joining the Presto Tech Horizons team as Partner, and will be involved in shaping the fund's operations and working with startups.
Presto Tech Horizons also focuses on investments in innovative defence and security technologies, a topic that is becoming increasingly important today. Bresova asserts:
“Security studies suggest that in the next five years, we’ll be fortunate if active armed conflict doesn’t spread to our territory.
Wishing for peace does not mean turning a blind eye to reality; rather, it requires actively participating in preparation and prevention. Just as we currently harness nuclear fusion (for now) for energy production rather than destruction, I believe our portfolio companies will contribute to keeping our world safe.”
The fund is preparing further investments in general AI for industrial robots, and an intelligent system for securing railway transportation. Also shortlisted for future investment is a startup developing quantum algorithms to tackle the most complex computational challenges in cryptography, logistics, and drug development.
Lead image: co-founders of Tur.au and a client. Photo: uncredited.
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