Q4 2024 Newsletter
- Kinisis Ventures Fund
- Dec 1, 2024
- 9 min read
Updated: Jun 2
Portfolio Updates
Threedium
2024 Milestones and Pioneering Growth in 3D Innovation
This year marked a pivotal phase for Threedium, achieving significant milestones across revenue growth, product innovation, and market expansion.
Expanding Global Reach: We launched over 200,000 solutions globally and engaged 20+ million users with our real-time 3D offerings. High-profile customers such as Bang & Olufsen, Tapestry, L’Oréal, and Rimowa joined our portfolio.
Revenue Growth: Transitioning from services to platform subscriptions fueled a substantial financial uplift:
£2M+ booked revenue, growing over 50% YoY.
Doubled subscription customers and tripled MRR.
3x growth in £10,000+ ARR customers, including our first £100k ARR client, Tapestry.
1,000% growth in licensed contract deals and 5x increase in long-term contracts.
North America now drives 55% of total revenue.
Product and Technology Innovations: Our Unlimited3D platform advanced with 30+ new features in the 3D Editor and enhanced 3D Viewer capabilities, including patent-pending shaders for glass, jewelry, and fur. We rolled out collaboration tools and achieved SOC2/ISO27001 compliance, boosting enterprise sales. Partnerships with FT, Conde Nast, and others facilitated the launch of real-time 3D advertising, showcasing a 100% higher CTR compared to traditional formats.
Sustainability and Strategic Partnerships: As the first B Corp-certified spatial computing platform, we support net-zero goals. Key integrations with AWS, Salesforce, and Adobe expanded our ecosystem, enhancing scalability for enterprises.
Thought Leadership: Our enhanced marketing efforts, including participation in 30+ global events and 20 panels, generated £1M in Q4 pipeline. Two new patents for 3D Viewers and content distribution strengthened our market positioning.
Outlook for 2025: With a robust pipeline and key partnerships with Adobe, NVIDIA, and Amazon, Threedium is poised to lead the adoption of 3D solutions, driven by major accounts like LVMH, Tapestry, and L’Oréal.
Unlimited3D has just submitted two patents for its unique new features on applying best-in-class diamond shaders on real-time 3D for jewelry.
Threedium and Amazon Web Services joint innovation demo at the prestigious NRF in NYC.
Mike Charalambous Angelides, CEO at Threedium
EMBIO DIAGNOSTICS
2024 Achievements and Strategic Growth for 2025
As we conclude 2024, EMBIO Diagnostics marks another quarter of growth and innovation. During Q4, we showcased our airbeld™ technology at GITEX Global 2024, reaffirming our commitment to a healthier future. A major milestone was the installation of the airbeld™ outdoor system at Limassol Port under the ARSINOE project, enhancing air quality monitoring in maritime environments. We also entered the maritime sector with DP World Cyprus as our first customer. In healthcare, we advanced the Conquair project, completing airbeld™ installations in hospitals across Nicosia, Hungary, and Italy. Additionally, EMBIO joined the EU-funded O-CEI project, collaborating with Charalambides Christis to enhance Halloumi production, livestock conditions, energy efficiency, and CO2 reduction through innovative Cloud-Edge-IoT solutions.
Company growth remained strong as we reached 30 employees, highlighting our expanding expertise and resources. airbeld™ saw a 14.8% increase in active users and a 97.6% rise in application views. 2024 concluded with profitability and an impressive 65% growth rate, showcasing our ability to innovate and deliver value across sectors.
Internationally, our CEO represented Cyprus at events in New York and Boston, highlighting EMBIO’s innovative solutions and forging new partnerships in the U.S. market. These engagements strengthened our global presence and opened opportunities for collaboration.
Closer to home, we held our first-ever annual meeting at the ATSAS Training Center, a venue selected for its alignment with our values of sustainability and innovation. This milestone event offered a chance to reflect on 2024’s accomplishments, outline our strategic vision for 2025, and celebrate the collective efforts of our team.
Looking ahead to 2025, our goal is to increase ARR by 300%, powered by our new market plan and expanded operations.
EMBIO CEO showcasing energy efficiency calls for product facilities in Valencia
EMBIO team from above.
Constantinos Loizou, CEO at Embio Diagnostics
ASCANIO
Expanding Globally, Strengthening Partnerships, and Innovating Training
As we close out 2024, we’re thrilled to announce that Ascanio has been selected as one of just ten European startups to participate in Silicon Valley’s prestigious EIT Digital ScaleSmart program. This opportunity will accelerate our international growth, connect us with key investors, and further strengthen our global presence.
We’re also expanding our team! As we scale operations, we are actively seeking new talent to support our growing platform and commercial activities.
This quarter, we had the privilege of participating in the Ministry of Defence’s 2nd AIR POWER CONFERENCE, where we showcased how our innovative training solutions are shaping the future of defense training. Additionally, we conducted a specialized Mixed Reality training for the Cyprus Telecommunications Authority, demonstrating how MR enhances effective learning and workforce preparedness, and participated in Commitioner of Communications' Cyber Security For All .
Education remains at the core of our mission, and we’re proud to welcome the University of Cyprus and the European University as our newest university partners. These collaborations will drive further innovation in MR-enhanced learning and training.
With an exciting year ahead, we look forward to building on these milestones and sharing more updates in 2025!
George Tziazas, Joint-CEO at Ascanio
PROMED BIOSCIENCE
Promed Achieves Key Milestones, Strengthening Global Presence in Regenerative Medicine
Promed Bioscience continues its impressive momentum in the regenerative medicine and 3D bioprinting industries, securing key achievements that set the stage for sustained global growth.
Expanding in the Asian Market: Promed has achieved a significant milestone by signing a multi-year agreement with a key international customer worth over €3.5 million, further expanding its footprint in the dynamic Asian market. Building on this momentum, negotiations are progressing with an additional international client for securing a similar multi-year contract. These developments not only showcase Promed's growing reputation but also underscore its strategic focus on expanding partnerships in high-growth regions.
Enhancing Global Standards with FDA Compatibility: Promed has successfully completed its viral inactivation assessment and study—a major accomplishment ensuring that its cutting-edge raw materials meet the rigorous standards required for FDA-approved medical devices. This milestone solidifies Promed's standing as a trusted supplier to manufacturers developing implants and devices.
Certifications That Demonstrate Excellence: Promed proudly announces the successful renewal of its GMP certification, alongside ISO 9001:2015 and ISO 13485:2016 certifications. These renewals reflect the company’s unwavering commitment to delivering the highest levels of quality, safety, and compliance, further cementing its reputation as a trusted partner in the medical device industry.
Global Growth in Atelocollagen | Strengthening Partnerships in the International Market.
Costas Pitsilides, CEO at Promed Bioscience
HEROES MADE
Progress, Partnerships, and the Path to Scale
We are excited to share the latest milestones as we continue to advance our mission to transform education through Social and Emotional Learning (SEL). This quarter, we launched the Teachers Lead program, an initiative inviting educators to become ambassadors for SEL. Campaigns to recruit and support these ambassadors are scheduled for the first quarter of 2025, fostering a community of passionate teachers who champion the importance of SEL in classrooms worldwide.
Our SEL platform is now fully aligned with CASEL standards, Common Core, Dale Carnegie Principles, and the British Columbia Curriculum. This alignment underscores our commitment to delivering a solution that meets the highest educational benchmarks, ensuring seamless integration into diverse systems while supporting the social, emotional, and academic growth of students.
Additionally, we are proud to participate in GG4L’s innovative campaign this coming March, introducing a disruptive new procurement alternative for U.S. schools and districts. This initiative streamlines the adoption process, making it easier for schools to implement cutting-edge SEL solutions at scale. On the global front, we are thrilled to announce that Bahrain has requested a meeting to explore the adoption of our digital SEL platform. This important discussion is set to take place in late January.
As we move into 2025, our focus is firmly on commercialization. We recently engaged with U.S. superintendents, and 95% emphasized that ease of use and implementation are their top priorities when selecting SEL products. This feedback strongly validates our platform’s value proposition and reinforces our mission to simplify and enhance SEL adoption for educators and students alike. To support these efforts, we are actively raising funds to fuel our commercialization campaigns. With a strong product that is fully aligned and ready to deploy, we are inviting investors to connect with us, experience a demo, and explore opportunities to partner in this exciting journey. Thank you for your continued support as we bring Social and Emotional Learning to more schools and students around the world.
Heroes Made is now fully aligned with CASEL standards, Common Core, Dale Carnegie Principles, and the British Columbia Curriculum.
Maria Lavithi Howard, CEO at Heroes Made
IREROBOT
Q4 2024 Innovations, Partnerships, and Accessibility Breakthroughs
IREROBOT LTD continues to make strides in innovation, forging impactful partnerships and achieving significant milestones in Q4 2024.
We were thrilled to collaborate with Stronde and their dynamic Stronde for Email team at Web Summit 2024. Our advanced Haptic Glove and SDK were integral to a unique, immersive VR demonstration at their booth at Websummit 2024. This experience transported participants into the cosmos, where they aimed and tossed mini planets through hoops to answer questions, merging interactivity, learning, and entertainment in a visually stunning environment. The seamless integration of haptics showcased the limitless potential of combining immersive technologies with cutting-edge marketing solutions.
In tandem with these collaborative successes, our team has finalized an advanced prototype of the Haptic Glove, featuring a redesigned fabric and colour palette. This marks a significant step towards product readiness, ensuring our technology meets the highest standards of innovation and usability.
Moreover, we are excited to announce that our International Patent Application (PCT) for ACETT has received positive confirmation from patent examiners, covering all EU countries. This marks a significant milestone, with all 15 claims meeting the stringent criteria of novelty, inventive step, and industrial applicability—our second successful international patent. The ground-breaking technology, enabling the deaf to experience sounds through vibrations, addresses challenges faced by over 500 million people globally, redefining accessibility.
Stay tuned for updates as we advance our journey toward shaping cutting-edge, accessible technologies that make a difference!
Evagoras Xydas, CEO at Irerobot
HYDROGEN ENERGY SYSTEMS
HES Advances Aluminum-Based Hydrogen Production with Strategic Partnerships
HES is making significant strides in advancing hydrogen production technology through innovative approaches. Our team has been actively experimenting with alternative methods, with a particular focus on utilizing aluminum as a source for hydrogen generation.
Recent tests, backed by scientific literature, have confirmed the ability to produce hydrogen organically from aluminum, marking a critical milestone in our research efforts. To further explore the potential of this breakthrough, we have recently entered into two non-disclosure agreements with leading European specialty chemical firms.
Critically, these partnerships will enable us to assess the technical and economic feasibility of scaling this process for commercial use and we look forward to sharing additional details in due course.
Scott Waite, CEO at Hydrogen Energy Systems
DAREFORE
Darefore Continues to Gain Momentum with US Expansion and Exciting New Partnerships
Q4 was a period of significant growth for Darefore. We successfully launched our sales efforts in the US e-commerce market, opening new avenues for cyclists across the globe to experience the power of Darefore technology. In parallel, we are actively expanding our European presence through strategic partnerships with distributors. These achievements position Darefore for continued growth and market leadership in the cycling performance technology space.
We are thrilled to announce a partnership with rising star triathlete Panagiotis Bitados, European Champion and World Silver Medalist. Panagiotis will utilize Darefore's cutting-edge technology to optimize his training and achieve new heights in the sport. This partnership will provide Bitados with real-time feedback and personalized training insights, allowing him to fine-tune his cycling posture and enhance his performance. This partnership will increase brand visibility, generate valuable marketing content, and provide valuable product feedback.
Key Q4 Highlights:
US Market Entry: Darefore has officially entered the US e-commerce market, making our innovative technology accessible to cyclists across the United States.
European Expansion: We have secured our first European distributor, based in Norway, expanding our reach and bring Darefore to more cyclists across the continent.
Strategic Partnerships: We are proud to support two of the most prestigious cycling and triathlon teams in Cyprus as their official tech providers. These partnerships will enhance brand awareness in the local market and provide valuable feedback from elite athletes.
Increased Accessibility: Darefore is now available in local bike shops, making it easier for cyclists to experience our technology firsthand.
Product Enhancements: Introduced several new features to enhance cyclist performance, including:
Lap Analysis: Analyze your performance lap by lap, gaining valuable insights into your body position, power output, and overall efficiency.
Aeroscore: Quantify your aerodynamic efficiency with a unique score and understand how your position impacts your aerodynamics.
Post-ride Performance Report: Receive comprehensive ride analytics, including your Aeroscore and an overall evaluation of your performance.
Darefore remains committed to innovation and delivering cutting-edge technology to empower athletes of all levels to achieve their full potential.
New lap by lap performance analysis, with valuable insights into your body position, power output, and overall efficiency.
Our new partnership with the rising star triathlete P. Bitados (European Champion and World Silver Medalist)
Marios Kyriakou, CEO at Darefore
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