We advised shareholders in the Dojus Group on investing in the startup Walk15, founded by TV and radio host Vlada Musvydaitė-Vilčiauskė. Vladas Lašas; the chairman of the board of the Lithuanian Business Angel Network LitBAN, venture capital fund 70Ventures; and several private individuals also invested in the company, which attracted EUR 268,500 in this round.
Startup valued at EUR 5 million combines social responsibility and business
Walk15 was valued at EUR 5 million during this investment round. The company, which has 260,000 users and employs about 15 people, plans to use the capital to develop its team and prepare for the next investment phase, which is scheduled for the summer. Its step challenge app is available for download worldwide in 16 languages.
According to V. Lašas, one of the main reasons for the growth of Walk15 is the discovery of a formula for reconciling social responsibility with business aspirations.
“The start-up team has been able to create a sustainable, revenue-generating business from a social initiative. Today, Walk15 is already entering wider markets outside Lithuania,” comments V. Lašas.