In a nutshell
- The Presto Tech Horizons investment fund announces its first three portfolio companies.
- Moreover, Lucie Bresova, an investor who previously led the global expansion of Kiwi.com, is joining the team.
Presto Tech Horizons announces first investments in AI, defense, and autonomous technologies
Back in June, venture capital firm Presto Ventures and Michal Strnad’s industrial and technology group Czechoslovak Group (CSG) announced the launch of an investment fund Presto Tech Horizons.
Their investment scope is focused on sectors such as AI, cybersecurity, automation, robotics, logistics, defense, aerospace, mobility, energy, healthcare, advanced computing, and systems that involve critical infrastructure management and protection.
“The first few months of our partnership with Presto, and the first portfolio companies of the joint fund, confirm that we are on the right path,” says David Chour, Vice Chairman of the Board and COO of the CSG Group.
Today, PTH announced its first three investments.
Vidar Systems, a developer of portable acoustic locators, has completed a pre-seed funding round. The amount remains undisclosed. The company specializes in portable AI-powered acoustic locating systems. This technology is useful for detecting hostile attacks on the battlefield and improving the security of strategic assets and civilian infrastructure. Their products are already being effectively used by the Ukrainian military to defend against artillery shelling.
Presto Tech Horizons is primarily interested in companies, across NATO countries and allied nations, developing dual-use solutions that can serve both civilian and security purposes.
Another portfolio company, Bavovna, a hybrid AI system for autonomous drone navigation, successfully raised $2.7 (€2.5) million. The US-Ukrainian team has created a hybrid AI-powered navigation system enabling unmanned vehicles (UVs) to function independently. This technology is particularly useful for drone missions in regions with unreliable GPS signals and holds potential for future applications like last-mile drone deliveries.
Tur.ai has secured $1.45 (€1.34) million in a Seed funding round, with Presto Tech Horizons leading the investment with $1.2 million. The funds aim to drive the startup’s growth by expanding self-service onboarding, improving customer success, and advancing a partner-led distribution model.
Lucie Bresova joins as Partner, PTH targets new investments
Europe’s defense startups have witnessed a rise of fundraising rounds, securing $614M in deals in 2023, up from $408M in 2022, according to Dealroom.
“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,” shared Lucie Bresova, joining the Presto Tech Horizons team as a Partner.
She will play a key role in shaping the fund’s operations and collaborating with startups.
The fund is planning additional investments, including projects such as applying general AI to industrial robots and an intelligent system for securing railway transport. Another potential investment is a startup focused on developing quantum algorithms to tackle the most complex computational challenges in cryptography, logistics, and drug development.
“I look forward to working with our portfolio companies. Being a founder with a great idea doesn’t automatically translate into being ready to lead a growing company. My goal is to guide founders through this transformation. I leverage my experience to develop their leadership skills and help them navigate the challenges associated with scaling their business,” explained Lucie Bresova, Partner at Presto Tech Horizons.
