The Venture Capital Review #2
Welcome to the second TVCR curated startup list, your monthly dose of curated startups.
Welcome to the second edition of The Venture Capital Review, a list where we showcase 12 startups from 6 different industries in 6 different countries. As always, the startups are picked at random, and our ratings are calculated based on personal research and assumptions. If you are associated with any of the startups rated today, please reach out if you would like to provide any additional information or metrics. (This issue includes impact metrics!)
Enjoy the list!😊
Healthtech 🏥
Our 2 startups in Healthtech for this month are Kaia Health and Kernel. These innovative startups are operated by some of the highest rated teams in our series so far!
1. Kaia Health
Country: Germany - United States
Founded: 2016
Here’s a short description of Kaia Health👇
Kaia Health is a digital platform that provides effective therapy for chronic musculoskeletal pain. Their tailored exercise programs target specific pain areas, including the back, neck, shoulder, elbow, hip, knee, wrist, hand, ankle, and foot. Whether you’re managing chronic pain or seeking proactive routines, Kaia Health aims to make therapy accessible to all.
Ratings:
As always, our ratings are split into 4 different categories, handpicked for every startup featured based on what we think is fair. For Kaia Health, the ratings are as follows:
Transcript:
ARR/RELATIVE: 6/10
TAM-SAM-SOM/POTENTIAL TO DISRUPT: 9/10
FOUNDING TEAM: 10/10
GROWTH POTENTIAL: 8/10
Verdict:
We gave Kaia Health an overall score of 8.25/10, categorizing them in the “Invest” placement based on our rating scale*.
In conclusion, Kaia Health topped out almost every scale in our rating system, giving them the highest score in our series so far. Most notably, their founding team ticked every box in our criteria to be considered a perfect and investable match, Kaia Health have also been attaining high consistent growth in the years 2021-2022, which is promising. They operate in a high consolidated market, but have much more of the market to conquer in contrast, meaning the room for growth is solid.
*Find more details on our scale at the end of the article.
2. Kernel
Country: United States
Founded: 2016
Here’s a short description of Kernel👇
Kernel is a pioneering company in the field of neuromedicine. Their mission is to revolutionize brain health by advancing neuroimaging technologies. Their flagship product, Kernel Flow, is a portable multimodal neuroimaging headset that combines high-resolution hemodynamics and EEG. With user-friendly software and rapid setup, Flow provides comprehensive insights into cortical brain activity. Additionally, Kernel’s AI-driven precision biomarkers hold promise for accelerating treatment development and improving patient outcomes. Through ongoing research initiatives, including studies on depression treatments and cognitive decline, Kernel aims to transform our understanding of brain function and enhance healthcare practices.
Ratings:
As always, our ratings are split into 4 different categories, handpicked for every startup featured based on what we think is fair. For Kernel, the ratings are as follows:
Transcript:
ARR/RELATIVE: 3/10
TAM-SAM-SOM/POTENTIAL TO DISRUPT: 4/10
FOUNDING TEAM: 10/10
GROWTH POTENTIAL: 8/10
Verdict:
We gave Kernel a 6.25/10, categorizing them in the “Prospective” placement based on our rating scale*.
In conclusion, Kernel is another example of a startup with a founding team that ticks all of our boxes. The founder, Bryan Johnson, has also gained mass popularity on social media for his “reverse aging” techniques. Kernel operates in a low consolidated market with very high potential. Although Kernel did not score well on our financial metrics, their technology has the potential to be disruptive and is definitely a must watch.
*Find more details on our scale at the end of the article.
Gaming 🕹️
Our 2 startups in Gaming for this month are Build A Rocket Boy and Playmakers. Our selection are completely different within the Gaming space, but are very interesting to say the least.
3. Build A Rocket Boy
Country: United Kingdom
Founded: 2016
Here’s a short description of Build A Rocket Boy👇
Build A Rocket Boy is an independent game developer and publisher with a mission to redefine the gaming experience through innovative projects. Their flagship products include:
EVERYWHERE: An ambitious open-world platform that blends gaming and entertainment. Set in a unique universe, it features futuristic vehicles, weaponry, and intriguing narratives. Players can connect with each other and explore a dynamic digital world.
MindsEye: A highly anticipated AAA action-adventure game. In this story-driven experience, players delve into a world filled with advanced technology, mysteries, and gripping plotlines.
Ratings:
As always, our ratings are split into 4 different categories, handpicked for every startup featured based on what we think is fair. For Build A Rocket Boy, the ratings are as follows:
Transcript:
ARR/RELATIVE: 10/10
TAM-SAM-SOM/POTENTIAL TO DISRUPT: 4/10
FOUNDING TEAM: 8/10
GROWTH POTENTIAL: 7/10
Verdict:
We gave Build A Rocket Boy a 7.25/10, categorizing them in the “Prospective” placement based on our rating scale*.
In conclusion, Build A Rocket Boy received a perfect score for their ARR/Relative metric, and an almost perfect score for the founding team, which includes world renowned Ex-Rockstar North president Leslie Benzies. Build A Rocket Boy operates in a low level consolidated market, with consistent steady growth, and a high valuation. They have good growth potential, and with the credibility of the founder, anything is possible.
*Find more details on our scale at the end of the article.
4. PlayMakers
Country: France
Founded: 2022
Here’s a short description of PlayMakers👇
PlayMakers is a French software startup that focuses on developing infrastructure and tools for gaming communities, studios, and individuals. Their mission is to optimize development time and enhance product-market fit by allowing collaboration on the same game. Through their platform, they unlock the power of user-generated content (UGC) in gaming. With headquarters in Paris, PlayMakers aims to harness players’ creativity and revolutionize game creation workflows
Ratings:
As always, our ratings are split into 4 different categories, handpicked for every startup featured based on what we think is fair. For PlayMakers, the ratings are as follows:
Transcript:
ARR/RELATIVE: 2/10
TAM-SAM-SOM/POTENTIAL TO DISRUPT: 2/10
FOUNDING TEAM: 4/10
GROWTH POTENTIAL: 5/10
It’s important to note that while some of these ratings are low, it does not necessarily reflect on the performance of the founders. When grading that aspect, we look at factors such as alma mater, previous successful exits, first founders/serial entrepreneurs.
Verdict:
We gave PlayMakers a 3.25/10, categorizing them in the “Watch” placement based on our rating scale*.
In conclusion, while PlayMakers did not top off our scales when it comes to financials and potential to disrupt, they hold a decent growth potential alongside a good founding team, which is essential to evaluate any startup’s true potential. PlayMakers operates in a low level consolidation market, and the industry is ever-growing, which is why they have been placed as “Watch” on our rating scale.
*Find more details on our scale at the end of the article.
Tech & Software💻
Our 2 startups in Tech & Software for this month are SenseOn and Cradlewise. Once again, a very diverse selection ranging from cybersecurity to baby appliances.
5. SenseOn
Country: United Kingdom
Founded: 2017
Here’s a short description of SenseOn👇
SenseOn is a cybersecurity platform that offers hyperautomated threat detection and response. Their comprehensive solutions include real-time monitoring, endpoint protection, out-of-the-box detections, and streamlined investigation capabilities. SenseOn’s unique approach reduces SOC investigation time, adapts to threats, and provides detailed reporting. Whether you’re a business or an individual, SenseOn aims to enhance your security posture and safeguard against cyber threats.
Ratings:
As always, our ratings are split into 4 different categories, handpicked for every startup featured based on what we think is fair. For SenseOn, the ratings are as follows:
Transcript:
ARR/RELATIVE: 3/10
TAM-SAM-SOM/POTENTIAL TO DISRUPT: 8/10
FOUNDING TEAM: 3/10
GROWTH POTENTIAL: 9/10
It’s important to note that while some of these ratings are low, it does not necessarily reflect on the performance of the founders. When grading that aspect, we look at factors such as alma mater, previous successful exits, first founders/serial entrepreneurs.
Verdict:
We gave SenseOn an overall score of 5.75/10, categorizing them in the “Watch” placement based on our rating scale*.
In conclusion, SenseOn operates in a low consolidated market, and although they scored relatively low on the financial and founding team metrics, SenseOn have been observing high growth rate in recent years, awarding them excellent scores in terms of disruption and growth potential. SenseOn have been rightfully placed under “Watch”, and we would personally recommend keeping tabs with them!
*Find more details on our scale at the end of the article.
6. Cradlewise
Country: Singapore
Founded: 2019
Here’s a short description of Cradlewise👇
Cradlewise introduces the world’s smartest convertible bassinet and crib. This innovative sleep solution grows with your baby up to 24 months, combining a convertible bassinet and crib, a built-in monitor, and a sound machine. Cradlewise’s AI-powered sensing detects subtle movements and cues, soothing your baby back to sleep. It’s not just a crib; it’s a complete sleep sanctuary for both baby and parents.
Ratings:
As always, our ratings are split into 4 different categories, handpicked for every startup featured based on what we think is fair. For Cradlewise, the ratings are as follows:
Transcript:
ARR/RELATIVE: 2/10
TAM-SAM-SOM/POTENTIAL TO DISRUPT: 4/10
FOUNDING TEAM: 3/10
GROWTH POTENTIAL: 7/10
It’s important to note that while some of these ratings are low, it does not necessarily reflect on the performance of the founders. When grading that aspect, we look at factors such as alma mater, previous successful exits, first founders/serial entrepreneurs.
Verdict:
We gave Cradlewise a 4/10, categorizing them in the “Watch” placement based on our rating scale*.
In conclusion, Cradlewise operates in a low consolidated market, which gives them the upper hand when it comes to future market share domination. Although Cradlewise did not score that well on our ARR/Relative metrics, they have decent potential to disrupt, which mixed with great growth potential can be a perfect combination to achieve success. We can observe exploding recent growth and interest in Cradlewise, further solidifying our claim. Cradlewise is definitely a must watch!
*Find more details on our scale at the end of the article.
Consumer Goods & Retail🛒
Our 2 startups in CG&R for this month are Stockly and Zapp. One is focused on ecommerce, while the other is a food delivery platform.
7. Stockly
Country: France
Founded: 2017
Here’s a short description of Stockly👇
Stockly is a platform that empowers e-retailers to continue selling products even when they are out of stock. By connecting inventories across a network of authorized resellers and brands, Stockly ensures seamless fulfillment for customers. When an e-retailer runs out of stock, Stockly sources the product from other retailers within the network, turning inventory scarcity into an opportunity for sales. Trusted by major e-commerce players in Europe, Stockly is revolutionizing retail.
Ratings:
As always, our ratings are split into 4 different categories, handpicked for every startup featured based on what we think is fair. For Stockly, the ratings are as follows:
Transcript:
ARR/RELATIVE: 2/10
TAM-SAM-SOM/POTENTIAL TO DISRUPT: 4/10
FOUNDING TEAM: 1.5/10
GROWTH POTENTIAL: 7/10
It’s important to note that while some of these ratings are low, it does not necessarily reflect on the performance of the founders. When grading that aspect, we look at factors such as alma mater, previous successful exits, first founders/serial entrepreneurs.
Verdict:
We gave Stockly an overall score of 3.65/10, categorizing them in the “Watch” placement based on our rating scale*.
In conclusion, Stockly did not receive a high score for several reasons. To begin, they operate in a very highly consolidated market, which limits their potential market share acquisition, and impacts their ARR/Relative rating. On the other hand, Stockly have been enjoying high growth rate, meaning they are obviously doing something right, especially in recent terms. Stockly tackles a solid problem, which is why they have good potential to disrupt as well as high growth potential. Stockly is definitely a “Watch”.
*Find more details on our scale at the end of the article.
8. Zapp
Country: United Kingdom
Founded: 2020
Here’s a short description of Zapp👇
Zapp is London’s leading premium convenience delivery app, founded in 2020. They elevate the everyday lives of hundreds of thousands of Londoners by leveraging cutting-edge technology. Zapp ensures that the most relevant products are always available, at the right location, and delivered to customers’ doors in minutes, 24/7. From daily essentials to luxury favorites, their hand-picked product range caters to a wide variety of needs. Backed by venture capital investors and iconic figures like Sir Lewis Hamilton, Zapp is on a mission to revolutionize convenience retail by bringing technology to the $4 trillion global industry.
Ratings:
As always, our ratings are split into 4 different categories, handpicked for every startup featured based on what we think is fair. For Zapp, the ratings are as follows:
Transcript:
ARR/RELATIVE: 10/10
TAM-SAM-SOM/POTENTIAL TO DISRUPT: 3/10
FOUNDING TEAM: 4.5/10
GROWTH POTENTIAL: 7/10
Verdict:
We gave Zapp a 6.1/10, categorizing them in the “Prospective” placement based on our rating scale*.
In conclusion, Zapp did great on our scales for the most part. The received a perfect score on our ARR/Relative metric, but did not score that well on our potential to disrupt scale due to the fierce competition in the market. Zapp has a great founding team, and have amazing growth potential. It’s important to note that Zapp is one of the few, if not the only delivery app in the UK that has not been acquired by gopuff or getir, which is another reason why they do not dominate in terms of market share. Since they are still going solo, this is very impressive!
*Find more details on our scale at the end of the article.
Finance & Banking💸
Our 2 startups in Finance & Banking for this month are Yonder and Paddle. These startups operate in a hot industry, and have great potential.
9. Yonder
Country: United Kingdom
Founded: 2020
Here’s a short description of Yonder👇
Yonder is a modern rewards credit card that serves as your card-shaped key to the city. Packed with handpicked local rewards, worldwide family travel insurance, and no foreign exchange fees, Yonder offers an exceptional experience. Whether you’re in London or beyond, Yonder’s fully paid meals at top restaurants, access to intimate gigs, and seamless travel coverage make it a standout choice. Plus, you can apply without needing a UK credit score, making it accessible to a wide range of users.
Ratings:
As always, our ratings are split into 4 different categories, handpicked for every startup featured based on what we think is fair. For Yonder, the ratings are as follows:
Transcript:
ARR/RELATIVE: 2/10
TAM-SAM-SOM/POTENTIAL TO DISRUPT: 3/10
FOUNDING TEAM: 5/10
GROWTH POTENTIAL: 5/10
It’s important to note that while some of these ratings are low, it does not necessarily reflect on the performance of Startup.
Verdict:
We gave Yonder an overall score of 3.75/10, categorizing them in the “Watch” placement based on our rating scale*.
In conclusion, Yonder operates in a highly consolidated market, putting them at a disadvantage from the get go. Yonder did not score well on our ARR/Relative scale, neither on our potential to disrupt scale. Yonder shines with their good team and growth potential, which is essential for startup success. Yonder hasn’t been around for long, so it will be interesting to track their growth. Yonder is a “watch”.
*Find more details on our scale at the end of the article.
10. Paddle
Country: United Kingdom
Founded: 2012
Here’s a short description of Paddle👇
Paddle is the complete payments, tax, and subscriptions solution for SaaS companies. Their platform simplifies and automates billing operations, allowing businesses to focus on growth. As a merchant of record, Paddle handles fraud, sales tax compliance, billing support, and more. With over 4,000 software businesses using Paddle, it’s revolutionizing revenue management by providing a comprehensive payment stack.
Ratings:
As always, our ratings are split into 4 different categories, handpicked for every startup featured based on what we think is fair. For Paddle, the ratings are as follows:
Transcript:
ARR/RELATIVE: 7/10
TAM-SAM-SOM/POTENTIAL TO DISRUPT: 8/10
FOUNDING TEAM: 6/10
GROWTH POTENTIAL: 5/10
Verdict:
We gave Paddle a 6.5/10, categorizing them in the “Prospective” placement based on our rating scale*.
In conclusion, Paddle operates in a low level consolidated market, giving them good growth potential. Paddle scored really well on both our ARR/Relative scale, as well as our founding team scale. Paddle is ran by a great team, and thrive in their potential to disrupt. Overall, great product with a great team having found product market fit. Paddle is a “prospective” startup for us!
*Find more details on our scale at the end of the article.
Energy & Climate♻️
Our 2 startups in Energy & Climate for this month are Enviria Energy and Bramble Energy. We’re very excited to include these startups for this issue, as we have just introduced impact metrics to give a better and fair view of these startups!
11. Enviria Energy
Country: Germany
Founded: 2017
Here’s a short description of Enviria Energy👇
ENVIRIA offers solar solutions tailored specifically for businesses. They cover the entire process, from financing to design, installation, and operation of solar systems. With easy implementation, improved ESG ratings, and access to affordable green power, ENVIRIA aims to fully utilize solar energy’s potential. Their mission is to combat climate change by accelerating the transition to renewable energy.
Ratings:
As always, our ratings are split into 4 different categories, handpicked for every startup featured based on what we think is fair, for this energy and climate startup, we have also included an impact rating after our traditional rating scale. Our final verdict is based on the average of both. For Enviria, the ratings are as follows:
Transcript:
ARR/RELATIVE: 2/10
TAM-SAM-SOM/POTENTIAL TO DISRUPT: 6/10
FOUNDING TEAM: 5/10
GROWTH POTENTIAL: 8/10
It’s important to note that while some of these ratings are low, it does not necessarily reflect on the performance of Startup.
Impact Metrics:
Transcript:
CARBON FOOTPRINT REDUCTION: 7/10
ENERGY EFFICIENCY: 7/10
RENEWABLE ENERGY PENETRATION: 8/10
SOCIETAL IMPACT: 8/10
Verdict:
We gave Enviria Energy an overall score of 6.4/10, categorizing them in the “Prospective” placement based on our rating scale*.
In conclusion, Enviria operates in a low consolidated market, giving them amazing growth potential. Enviria also has great potential to disrupt using their cutting edge technology, and good founding team! Although Enviria did not score too well on our ARR/Relative scale (a common trend amongst Enery & Climate startups), they have recently secured a jaw-dropping $200mn investment from BlackRock, signaling a promising future for this startup. On the impact side, Enviria received excellent scores across all our impact metric scales, putting them on the right track in terms of foundation for future growth. Enviria is a prospective startup, and we definitely recommend checking them out!
*Find more details on our scale at the end of the article.
12. Bramble Energy
Country: United Kingdom
Founded: 2016
Here’s a short description of Bramble Energy👇
Bramble Energy is accelerating global decarbonization with their innovative PCB-X™ platform. This low-cost, scalable technology delivers carbon-neutral energy and has applications in portable energy, mobility, and more. Their mission is to make clean energy accessible worldwide, paving the way for a sustainable future.
Ratings:
As always, our ratings are split into 4 different categories, handpicked for every startup featured based on what we think is fair, for this energy and climate startup, we have also included an impact rating after our traditional rating scale. Our final verdict is based on the average of both. For Bramble, the ratings are as follows:
Transcript:
ARR/RELATIVE: 4/10
TAM-SAM-SOM/POTENTIAL TO DISRUPT: 7/10
FOUNDING TEAM: 4/10
GROWTH POTENTIAL: 6/10
It’s important to note that while some of these ratings are low, it does not necessarily reflect on the performance of Startup.
Impact Metrics:
Transcript:
FUEL CELL EFFICIENCY: 8/10
COST REDUCTION: 9/10
CARBON FOOTPRINT REDUCTION: 9/10
SOCIETAL IMPACT: 7/10
Some of the impact metrics used might be different to accommodate for the niche/specific target of this startup. (eg: Fuel Cell Efficiency, Cost Reduction)
Verdict:
We gave Bramble Energy an overall score of 6.75/10, categorizing them in the “Prospective” placement based on our rating scale*.
In conclusion, Bramble Energy operates in a low level consolidated market, offering potential for high market share domination. In general, Bramble scored well on most of our ratings, which is a great foundation to evaluate the fundamental aspect of the startup. Bramble scored extremely well on their impact metrics too, specifically on their carbon footprint reduction impact, cost reduction impact, and fuel cell efficiency. What caught our attention the most going through their whitepaper was their innovative fuel cells that beat traditional fuel cells cost by 10x, offering $100 per kilowatt stack as opposed to the traditional $1000.
*Find more details on our scale at the end of the article.
Rankings:
1- Kaia Health - 8.25/10
2- Build A Rocket Boy - 7.25/10
3- Bramble - 6.75/10
4- Paddle - 6.5/10
5- Enviria - 6.4/10
6- Kernel - 6.25/10
7- Zapp - 6.1/10
8- SenseOn - 5.75/10
9- Cradlewise - 4/10
10- Yonder - 3.75/10
11- Stockly - 3.65/10
12- PlayMakers: 3.25/10
Thank you very much for reading this month’s curated startup list. We are always working on improving and tweaking our metrics, to deliver the most fair and accurate ratings for these featured startups. Remember that the selections are made at random, and no special treatment would be given to any startup mentioned. Our ratings are based on personal research based on data found publicly, and the ratings are subject to change accordingly if we are provided by any data or metrics by startups mentioned.
If your startup was mentioned and you feel that some ratings were unfairly given, please reach out so we could clarify and potentially adjust if any adjustments are deserved.
Thanks again and see you next month😊
* If you are interested in investing in any startup mentioned, please conduct your own research as this is not investment advice.
Our Rating Scale 👇👇👇
0-10
0-2.9 = Pass
3-5.9 = Watch
6-7.9 = Prospective
8-10 = Invest