OpenFund, an Athens-based seed level Venture Firm, has announced the first bunch of startups selected for funding. Besides the actual funding, which is between €20-30k for a 20% equity stake in the company, OpenFund provides a four-month incubation period.
In this round, OpenFund selected four companies in total, one from the UK (its founders are from Slovakia), one from Ukraine, and two startups from Greece. Now, let’s take a quick look at the winners.
First up is Glasgow, UK-based Crawdout, which is described as “a meeting facilitation service, specifically targeted at recreational sports.” It enables groups of people to arrange sporting events, helping them to find suitable people to participate, with a social aspect too.
The second company is YouScan, a new service for social media monitoring and reputation management. It provides tools for “tracking, summarizing and reacting to the social-web” and will be targeting the Russia and Ukraine markets.
Listiki, OpenFund’s third choice is perhaps the most promising of the four winners, since it claims to be an innovative service for organizing and prioritizing online real-time data – the real-time web is hot at the moment. It aims to change “the way we rank anything on the web.”
Last but not least, Fashinating is building a platform that presents the latest offerings on the apparel market using an innovative fashion discovery engine and a series of engaging social games. Its services will function as a standalone project, but also as an add-on to existing and upcoming online fashion magazines and retailers.
OpenFund is now open for new applications until the end of February, so if you consider yourself as one of a “new breed” of startups you can apply for their second investment round.