Lithuanian startup "Walk15" attracts second investment in three months

The sustainable mobility startup "Walk15" has secured a €1 million investment, marking its second investment in just three months. This health-focused startup, which connects over 640,000 users with 1,300 businesses and organisations globally, intends to use the new investment to spearhead its expansion into the German market. This month, "Walk15" inaugurated a new office in Berlin.

Recent data from the "Dealroom" report highlights "Walk15" as one of Lithuania's rapidly emerging startups in the "Rising Star" category. Furthermore, towards the end of the previous year, it was acknowledged in the "Deloitte Technology Fast 50 Central Europe 2023" list, recognising its swift growth as a sustainable startup with significant contributions to business, society, and the environment.

By the close of last year, "Walk15" achieved a valuation of €15 million and raised an additional €500,000, with Mantas Mikuckas, the co-founder of the Lithuanian unicorn "Vinted," among the investors.

The recent €1 million investment saw contributions from the venture capital firm "Coinvest Capital," the "8NGLS" syndicate comprising 32 angels led by Justinas Pašys, CEO of "PVcase" - a solar energy software developer dubbed the next unicorn, Deividas Trainavičius, and other investors.

Viktorija Trimbel, CEO of “Coinvest Capital” says: “This investment was driven by three key factors: sustainability, global reach, and women's empowerment. We concluded negotiations for the investment with the founder of the startup, Vlada Musvydaite, according to the philosophy of “Walk15” - with a one-and-a-half-hour walk late in the evening in the beautiful Old Town of Vilnius. The results achieved by the entire “Walk15” team, high-quality business and risk management, strategy, Vlada's personality and enthusiasm, the global and unrestrained vision to make healthiness an everyday habit for everyone, inspire and unite all investors into a strong support team. We are delighted to become an equal part of the “Walk15” team”.

Justinas Pašys, leader of “8NGLS” says: “impressive achievements of the startup and trust in the founders - that's what determined our decision to invest in “Walk15”. We have been collaborating with Vlada Musvydaite and her team for four years now, and we are impressed by their ambition and results - over the past three years, the startup has grown 8 times, significantly expanded its business client and app user base, and made successful strides internationally”.

The startup team actively engages employees and clients of companies, along with community members and educational institutions, in sustainable mobility activities across markets including Lithuania, Latvia, Estonia, Denmark, Romania, Germany, the United Kingdom, and beyond. The list of strategic “Walk15” partners and clients includes international organizations and businesses such as Euroleague, “ERGO”, “PENNY”, unicorns “Vinted”, “Nord Security”, and others. It is calculated that more than 10,000 step challenges have been created over the past four years.

“We are growing very fast - this is evidenced by our client geography, the attention of international investors, and our portfolio of competencies. Today, we can be proud not only of a fully formed international team of experienced professionals but also of collaboration with scientists. On a global scale, we address the problem of decreasing physical activity in society and the resulting personal health and healthcare system issues at the national level. I thank the business angels of Lithuania for their continuous support and belief - the latest investment for our team will allow us to reach one of the most important world markets – Germany”, says Vlada Musvydaite-Vilčiauskė, founder and CEO of “Walk15”.