FORKNAVIndustry 4.1 warehouse management, SaaS

Big market | Unique approach | Painkiller| SaaS | Skilled strong team


  • Why we invest
    1. Fstage validation – passed by 2 lead mentors and voting investors
    2. Strong team, has been working years together
    3. Market pull exists, market is craving for smart and flexible solutions, the problem is real
    4. Interviewed clients describe the product as a painkiller
    5. Market opportunity in Baltics and Nordics is big enough already
    6. Production has clear vision about challenges and solutions
    7. Processes are in place and are constantly optimised
    8. Revenue is growing steadily, bigger jump is expected in 2023
    9. Could be sustainable if required
    10. DD didn’t reveal any hidden surprises

Company info:

  • Website:
  • Stage: Seed
  • Round size: €1M ($200k already soft-committed)
  • Valuation floor: €3.75M (pre-money)
  • Valuation Cap: €6.0M (pre-money)
  • HQ: Tartu, Estonia
  • Registered: Latvia and Estonia
  • DD: done by Fstage VC

Company traction:

  • FTE – 6 people from core team
  • $9K MRR as of January 2023
  • CAC – $1500, LTV  €50k
  • 5 b2b paying clients with ~100 users, are based in Estonia
  • 1 b2b client with 5+ users, are based in Latvia
  • Avg. monthly user growth rate for the past 12 months – 9,3%
  • Average monthly churn rate for the past 12 months – 0%
  • Monthly burn rate is €35k
  • Keeps actively investing into sales and product 

Fstage is open to collect additional funds from new small ticket syndicate investors. Fstage has the right, yet no obligation to collect investments up to May 1-st 2023.

Pitching event is planned to happen in late March 2023.