Logiscool accelerates international growth with a 3.5 million EUR investment

Logiscool, an international leader in coding education for children and teens, raised a 3.5 million EUR investment from Euroventures, one of the leading independent VC and PE firms in the CEE region. The current investment gives a significant boost to our Client Logiscool’s further international expansion and building its franchise network on the new markets.

Logiscool was exclusively advised by Absolvo’s growth financing team in the transaction process.

A Logiscool, a befektető Euroventures és a tranzakciós tanácsadó Absolvo csapata a tőkebevonási tranzakció zárását ünneplik

Logiscool launched its fun-based innovative coding school in Hungary in 2014, providing programming and digital courses and camps for children aged 6-18. Today it is present in 16 countries and over 100 locations, teaching more than 60,000 students. The rapid growth is the result of the introduction of the franchise model, which enables building the school network dynamically worldwide.

The success of the Logiscool method, which has ever-growing international popularity, has several components. Its modular curriculum is composed of more than 600 lessons allowing students to continuously improve their coding skills over several years. The company’s proprietary educational platform “grows” together with students’ age and knowledge level giving them the feeling of long term, successful achievement. The young and enthusiastic trainers make the courses friendly and inspiring to the students.

“We believe that acquiring the knowledge of the future can be enjoyable and fun. At Logiscool kids can learn the basics of logical thinking in a fun-based way, improve their problem-solving skills, understand complex processes and in later life they can use that knowledge in almost any workspace” – said dr. Anita Breuer, co-founder of Logiscool.

The company has previously received investment from NNG-founder and angel investor Péter Balogh. The investment helped in the development and the successful initial international launch: “Logiscool had already achieved what is rare for Hungarian brands: it is building a successful franchise network from Taiwan to Florida, and changes the life of ten thousands of children. Our big dream with the team is to teach one million children to code – that kind of ambition makes it really worthwhile to get up in the morning” – said Péter Balogh.

The current investment of 3.5 million EUR, led by Euroventures in co-investment with the experienced investor Márton Szőke (founder of Indextools which was acquired by Yahoo!, has had several successful exits with a past and present portfolio including among others AutoHop, Tresorit, Omixon and Bitrise) enables Logiscool to expand its HQ team in Budapest, to develop its educational offering and its local and international partnerships to  accelerate international expansion.

“This investment round is an important milestone in the life of Logiscool, it gives a significant boost to our further growth. It enables the development and expansion of the team, therefore we will be able to better support our partners and with our continuous developments we can gain and sustain our leading role worldwide. Our aim is to provide the best coding education to kids globally” – said Gyula Csitári, co-founder of Logiscool.

“We invested in Logiscool, because we see a rare combination of an excellent and devoted management with international experience, a rapidly growing global market and a technology-based, unique value proposition. It is a great opportunity and responsibility to be part of such a growth story” – said Péter Tánczos, director of Euroventures.

Source: official press release

TheScaleupFest – International event on scaling

Key highlights of TheScaleupFest event - March 2020

TheScaleupFest is much more than just yet another startup event.

It is aimed to create a friendly place to learn, atmosphere and time for all stakeholders in the ecosystem to meet, share, get inspired, network and build their story in the most valuable way for their scaling and growing beyond CEE – together, successfully.

It is a place for startups, scaleups, investors and corporates where talented businesses, international experience, best practices and capital can find and impact each other. You will hear founders telling their growth stories, real international case studies, investors letting you know why one team succeeded and who they are looking for.

The Scaleup Fest is the 4th wave of VCs in CEE event series, co-organized by Absolvo, HVCA and HunBan –  this time powered further by HR Fest, the leading professional HR event and festival series in Hungary with 4 years history.

For more details about the event, topics, speakers please visit TheScaleupFest event website: https://thescaleupfest.com/

A new investment brings Prefixbox’s e-commerce search to Poland

Our Client Prefixbox, an AI powered e-commerce search provider, gets a seed investment from Euroventures to bring their e-commerce search to Poland, too.

Prefixbox has just received 500k EUR investment from Euroventures, a notable CEE investment firm, as the first part of a larger capital raising project. The investment will be used for deep product development along with supporting the international expansion of the Hungarian startup throughout the CEE region, with Poland as the first stop.

This investment gives a lot of confidence to the company to further improve their product search for webshops. Their solutions can increase the revenue generated by search users with as much as 47% for webstores, as well as provide a better-quality customer experience. Product search plays a more and more important role for e-commerce managers, along with the rapid growth of the industry and Poland is not an exception to that.

This investment is a huge milestone in Prefixbox’s history. It gives us a boost to help us accelerate our growth, developing the team, and international expansion starting from Poland. We’ve had great traction with our existing Polish customers and are excited to open a new office to better support them and the market. Through developing our product and taking it to the world, we are striving to become the world’s best e-commerce search provider.”- said Istvan Simon, the founder and CEO of Prefixbox.

With this investment Prefixbox is planning to open a new office in the heart of Warsaw and build up a local sales and customer success team to be able to serve Polish customers’ needs and provide them with the best e-commerce search engines possible.

With existing customers from over 9 countries, Prefixbox’s clients in Hungary include – among others – Extreme Digital (edigital.hu), Rossmann (shop.rossmann.hu) and Praktiker (praktiker.hu), in Poland webstores such as Tania Ksiazka.pl, Militaria.pl or Cyfrowe.pl.

The startup was also recognized by Gartner in the 2019 “Market Guide for Digital Commerce Search”.

Prefixbox has been advised by the growth financing team of Absolvo in the transaction process.

Source: Prefixbox’s official press release

VCs in CEE 2019 – The scaleup journey

EVENT – Are you building a startup / scaleup and you are aspiring to become a regional or even global key player? Are you fundraising and want to meet international VCs, share your pitch deck with them and have the opportunity of an initial 1-on-1 meeting? If so, this event on 10th September 2019 is for you! We invite to Budapest and stage again international VCs and great CEE entrepreneurs to introduce you and share their experience, case studies and success stories – this time about the journey of scaling, challenges of global market entry, fundraising, and growing beyond CEE successfully.

VCs in CEE 2019 – The scaleup session

EVENT – Are you building a startup / scaleup and you are aspiring to become a regional or even global key player? Are you fundraising and want to meet international VCs? Or, are you simply interested in the investment and startup world of the CEE region? If so, this event on 26th March 2019 is for youVCs and entrepreneurs will share their experience, case studies, success stories, and discuss the challenges of global market entry and how to scale and grow beyond CEE successfully. We introduce again “new wave” of international VCs interested in the region.

VCs in CEE – Who’s next? International VC event

EVENT – Are you building a startup and aspiring to become a regional or even global key player? Are you fundraising and want to meet international VCs? Or, are you simply interested in the investment and startup world of the CEE region? If so, this event on 6th September 2018 is for you! We introduce you tomorrow’s industry scene, new international VCs willing to invest in CEE and Hungary. VCs and entrepreneurs will share their experience, case studies, success stories, and discuss the challenges of global market entry and how to grow beyond CEE successfully.