Q4 2025 KVF I & II Portfolio Newsletter
- Kinisis Ventures Fund
- Jan 14
- 9 min read
Updated: Jan 16
Table of Contents
Threedium (KVF I & II)
Embio Diagnostics (KVF I)
Ascanio (KVF I)
Promed Bioscience (KVF I & II)
Heroes Made (KVF I)
IREROBOT (KVF I)
HYDROGEN ENERGY SYSTEMS (KVF I)
Darefore (KVF I)
EQQU (KVF II)
Threedium
2025 marked a defining inflection point for Threedium
We transitioned from a high-performing startup into a scaled, intelligent 3D GenAI infrastructure platform - aspiring to become the “ChatGPT for anything 3D.” The year was characterised by focus, discipline, and accelerated momentum across product, operations, and partnerships.
Strong, Efficient Growth
We delivered 42% YoY MRR growth while maintaining >97% retention on Enterprise, reinforcing the stickiness of our platform. Operational efficiency improved materially, with a 6.2x revenue-to-sales-spend ratio and a 31% reduction in overheads, positioning the business for scalable profitability. Threedium continues to serve global blue-chip brands including LVMH, L’Oréal, Diageo, and B&O, with new enterprise logos such as Tapestry, New Balance, Montblanc, and Globe-Trotter. Recognition included Top Fastest Growing EMEA Tech Company 2025 and AWS Startup of the Month (Sept 2025).
Strategic Pivot to High-Margin Infrastructure
We made the deliberate decision to sunset our Studio operations, transitioning delivery to trusted partners. This removes ~£29k/month in costs by Jan 2026 and sharpens our focus on a high-margin licensing model, targeting >50% gross margins. Threedium is now firmly positioned as core infrastructure for the emerging Agentic Web.
Product Evolution & Hockey-stick Early Traction
On Dec 15, we soft-launched our most significant platform upgrade - combining the JulianNXT 3D GenAI model with coding agents. Within five days, we recorded 2100+ sign-ups, validating strong demand for “Prompt-to-Digital-Twin” workflows.
Distribution & Outlook
We are advancing three major distribution pillars with OpenAI, AWS, and Browzwear. 2026 begins with Threedium as a Platinum Sponsor at NRF NYC, co-exhibiting with AWS to officially launch our Flagship Model. With a clear path to cash-flow positivity by Sept 2026 and growing inbound strategic interest, Threedium enters 2026 with strong momentum and optionality.
Mike Charalambous Angelides, CEO at Threedium
EMBIO DIAGNOSTICS
Building on the momentum of Q2, the focus shifts toward generating recurring revenues, achieving platform consolidation, and expanding in a disciplined manner.
Platform Maturity: From Sensing to Intelligence
· airbeld™ devices now function offline. EOS operates with built-in data storage;
· The AI Assistant incorporated in airbeld™ devices goes beyond by continuously analyzing sensor data, identifies patterns and potential risks in real time;
· Home Assistant integration advances airbeld™ capabilities. airbeld™ is now connected with countless systems and automate actions;
Product and market execution
· The new Prometheas device is now available, a powerful next-generation device enhanced with six new parameters and four additional sensors;
· Athena is in development as a portable, battery-operated device with dedicated formaldehyde monitoring capabilities;
· airbeld™ Eos is available to B2B customers. For further information, please contact our sales team at info@embiodiagnostics.eu
Commercial Scale-Up and go-to-market strategy.
· The high-impact Sasha Vezenkov campaign promoting airbeld™ Eos launched with success recording over 1M views across social platforms. airbeld™ x Sasha Vezenkov
· EMBIO conducts business in over 15 countries and established distribution agreements in Cyprus, Greece, Jordan, Spain, Kuwait, the United Kingdom, Bahrain, Qatar, the United Arab Emirates, South Africa, and Oman.
EMBIO enters 2026 with:
· Expanded recurring revenues;
· A maturing intelligence platform with long-term data value;
· Broader market access through partnerships and integrations;
Q3–Q4 marked a strengthening of EMBIO’s Diagnostics marketing presence, the launch of the e-shop, new collaborations such as with Sasha Vezenkov, the initiation of new R&D programs, and continued advancement of AI capabilities across all three airbeld™ devices.
Constantinos Loizou, CEO at Embio Diagnostics
ASCANIO
Scaling enterprise XR through partnerships and deployment
As we enter the new year, Ascanio continues to progress with a clear focus on execution and commercial delivery. The company is prioritising the conversion of its immersive XR technology into tangible enterprise use cases, with commercial activity steadily advancing through new client engagements, expanding deployments, and an improving revenue pipeline. Demand remains strongest among organisations operating in complex, high-risk, and asset-intensive environments, where effective training, operational readiness, and coordination across distributed teams are mission-critical.
A key enabler of Ascanio’s go-to-market strategy is its strategic partnership with TK Interactive (TKI). This collaboration strengthens Ascanio’s delivery and scaling capabilities by combining its mixed-reality platform with TKI’s enterprise-grade software engineering expertise and advanced AI capabilities. With operational teams across the United States, India, and Cyprus, TKI provides the geographic reach and execution capacity required to support enterprise customers across Europe and the broader MENA region. The partnership positions Ascanio to pursue larger, multi-region deployments while maintaining a capital-efficient operating model.
In parallel, Ascanio is extending its platform into live operational environments where reliability, safety, and real-time decision-making are critical. Early deployments onboard vessels represent an important validation of the platform’s applicability beyond training scenarios, enabling immersive training, remote support, and performance insights directly within operational settings. This development reinforces Ascanio’s longer-term objective of delivering a unified, AI-enabled XR platform that supports both on-site and remote operations.
Looking ahead, the company remains focused on disciplined execution, customer value, and sustainable growth, as it continues to strengthen its market positioning and enterprise relevance.
Minas Kyriakou, CEO at Ascanio
PROMED BIOSCIENCE
Strengthening Capacity, Funding, and Industrial Readiness
Promed Bioscience has successfully completed its latest funding round, raising €1.25 million to support the strategic expansion of its production capacity and industrial readiness.
In parallel, the company has submitted a proposal under the BOOST funding call, targeting the maximum available grant of €300,000, further reinforcing its commitment to sustainable growth and innovation-driven manufacturing.
To accommodate upcoming capacity expansion, Promed has secured additional dedicated space from ASBIS, allowing for the installation of new custom-made equipment. This expansion includes the preparation of a clean room facilitydesigned to support ultra-sterile production processes for advanced and high-purity biomaterial products.
Besides infrastructure growth, Promed continues the development of a family of specialised products for a global science and technology company, strengthening its position as a trusted industrial and scientific partner.
Together, these developments mark a critical step in Promed’s transition toward larger-scale, high-precision manufacturing, while maintaining the quality, regulatory discipline, and scientific integrity that define its collagen biomaterial platforms.
Promed Bioscience remains firmly focused on building long-term value through technology, infrastructure, and strategic partnerships, positioning the company for the next phase of industrial and international expansion.
Costas Pitsilides, CEO at Promed Bioscience
HEROES MADE
Commercial Progress and Partner-Led 2026 Outlook
In 2025, Heroes Made operated primarily in commercialization mode without external funding, focusing on validating go-to-market assumptions, refining sales processes, and demystifying the edtech sales market strategy.
Multiple sales and outreach approaches were tested, including collaboration with commission-based sales agents. These efforts clarified school purchasing behavior, confirming that adoption is driven by trust, alignment with educational priorities, and clear procurement pathways rather than traditional marketing. As a result, sales strategy, messaging, and supporting materials were refined.
As of January 1, 2026, Heroes Made has formalized partnerships with four educational representatives covering six U.S. states. These partnerships form the basis of U.S. market execution in 2026. The Utah representative is scheduled to showcase Heroes Made at an Elementary Principals Conference in February in St. George, Utah.
On the procurement side, Heroes Made is in the final stages of the TIPS Award process, expected to enable streamlined district- and school-level purchasing.
Internationally, a local agency partnership has been finalized in Portugal, with a similar model under evaluation for Spain.
Heroes Made is also collaborating with the Archdiocese of the Greek Orthodox Church in the United States on a sponsorship initiative supporting ten Greek schools, while discussions with the Ministry of Education in Cyprus continue.
In 2026, the company’s focus is execution and revenue generation across New Mexico, Utah, Texas, North Carolina, Idaho, and Montana.
To support operations during this phase, the company is preparing a small convertible note. We invite interested investors to meet with us to learn more about the opportunity.
Maria Lavithi Howard, CEO at Heroes Made
IREROBOT
Q4 Highlights: Scaling Inclusive Haptic Technology Across Africa and Global Markets
In Q4, IREROBOT LTD achieved significant milestones in global outreach, institutional validation, and commercial traction, with a clear focus on Africa and broader international expansion.
In Africa, IREROBOT initiated real-world testing of ACETT, its tactile assistive wearable for Deaf and hard-of-hearing users, at the Ondo State School for the Hearing Impaired in Nigeria, in collaboration with local partner HAIDWARE. The pilot engaged Deaf teachers, whose structured feedback is directly informing improvements in usability, comfort, and accessibility. Following the success of this deployment, the Ondo State Ministry of Education formally endorsed the adoption of ACETT, providing strong institutional backing for wider rollout. ACETT is now positioned to scale across schools and universities in Ondo State, with expansion discussions underway in Nigeria, Ghana, and other African countries. The initiative is gaining support from authorities, educators, and Deaf communities in regions where access to cochlear implants remains limited, yet demand for inclusive assistive technologies is high. Through HAIDWARE, IREROBOT continues to develop scalable deployment and local value-creation models across Africa.
Internationally, IREROBOT had a strong presence at Web Summit Lisbon 2025, where it was selected as an Alpha Startup and recognized as an Impact Startup, highlighting both its technological innovation and social impact. The company showcased ACETT and its Haptic Glove, engaging global corporations, investors, financial institutions, and XR, gaming, and VR developers, resulting in multiple pilot adoptions and follow-up engagements.
Further validating demand, IREROBOT secured its first commercial order for ACETT, shipping devices to the United States for pilot testing with Deaf users.
Evagoras Xydas, CEO at Irerobot
HYDROGEN ENERGY SYSTEMS
Advancing Technical Validation and Strategic Growth
HES is pleased to share a major milestone in our scale-up journey: we have secured a strategic partnership with ZEME Eco Fuels & Alloys, Cyprus’ pioneering aluminium recovery and recycling facility based in the Limassol industrial area.
This partnership is built on a shared vision: use aluminium as a circular, high-impact input to enable the production and practical utilization of hydrogen as a clean fuel—first within ZEME’s industrial ecosystem, and ultimately across broader energy and mobility applications. ZEME’s mission is explicitly rooted in circular-economy principles and environmental sustainability, making them an ideal industrial partner for H2ES as we commercialize our aluminium-to-hydrogen system.
Under the agreement, ZEME will actively support HES’ aluminium-to-hydrogen reactor development, with both teams working side-by-side to build and commission our first prototype at ZEME’s Limassol facility.
Crucially, ZEME’s technical and operational involvement is expected to accelerate our development cycle, compressing iteration timelines and strengthening engineering decisions with industrial feedback from day one.
ZEME will also serve as HES’ first client, providing real-world operating conditions, integration requirements, and performance expectations that will help us validate reliability, safety, and economics at prototype scale. This “factory-floor” learning loop is a decisive step toward a deployable product and repeatable installations.
We will share further updates as the prototype build and commissioning milestones are achieved.
Scott Waite, CEO at Hydrogen Energy Systems
DAREFORE
Closing 2025 with Momentum: Product Maturity, Running Progress, and a Clear Path Forward
Q4 2025 marks the conclusion of a defining year for Darefore. Over the past twelve months, we have focused on strengthening our platform, validating new directions, and laying the groundwork for scalable growth.
Product & Platform Maturity
Throughout Q4, our focus shifted from rapid feature expansion to refinement and reliability. The Darefore Hub continued to evolve with improvements in usability, data consistency, and insight clarity, ensuring athletes and coaches can trust Darefore as a daily performance tool.
Running Expansion: From Testing to Direction
Q4 was an important milestone for Darefore Running. Building on earlier experimentation, we continued testing and validating multiple algorithms focused on posture stability, cadence variability, asymmetry, and fatigue-related signals. Rather than rushing to market, this phase allowed us to better understand how biomechanics and physiological trends interact in real-world running conditions.
Athlete & Ambassador Impact
Athlete feedback remained central to our development process. Our collaboration with Darefore Ambassadors Matt Hanson, Panayiotis Bitados and Andreas Miltiadis continued throughout Q4, providing high-level validation from elite competition environments. Input from experienced athletes and coaches has directly influenced algorithm tuning, insight prioritization, and user experience decisions.
Fundraising & Strategic Focus
Fundraising efforts remain active, with €500,000 targeted to boost sales, marketing, and R&D, with a strong emphasis on accelerating development in Running. These efforts reflect our belief that disciplined investment combined with validated technology and a clear roadmap is essential to scaling Darefore sustainably and responsibly.
Marios Kyriakou, CEO at Darefore
EQQU
Accelerating toward launch: strengthening IP, finalizing product, and preparing EQQU for a market entry
Following the pre-seed top-up funding in Q4 2025, Smartline is accelerating execution across its core value drivers: IP protection, product finalization, and go-to-market readiness.
We are completing an additional patent filing covering our proprietary smart bracelet wear solution, extending our already granted patents around all-metal, jewelry-grade shell integration with electronics and connectivity technology. This further strengthens the defensibility of our platform as we prepare for commercial launch under our new consumer brand, EQQU — a name inspired by emotional intelligence (EQ) and equilibrium, both central to long-term well-being.
While the patent application is in progress, EQQU will remain in semi-stealth for IP protection reasons. However, a first glimpse of the product’s look and feel is already available via a teaser at www.eqqu.com.
Although we cannot yet publicly disclose all product details, we are preparing a pre-launch campaign combining email capture with selective reservation access for the first shipment. This initial phase prioritizes our most engaged early adopters who actively contributed to the bracelet’s design over several years of semi-stealth development.
In parallel, we are preparing a broader brand and product reveal campaign to launch following patent filing, telling our unique story of deep integration between jewelry craftsmanship, precision engineering, and best-in-class health sensing technology.
With strong global momentum in screenless wearables (over 50% growth in smart rings shipments in 2025) and encouraging early adopter feedback on our prototypes, EQQU is well positioned for a first-generation product launch in the UK and selected EU markets in the coming months, followed by wider international rollout, upon completion of CE, UKCA, FCC, and related certifications.
Dmitriy Poltatsev, CEO at EQQU
