Generated by PitchBook for Chang Han, University Of
British Columbia - e@UBC
Last Updated: 02-Aug-2022
pbId: 340756-66
Envision | Private Company Profile
Highlights
Employees
Last Deal Details
32
2,23M $
As of 13-Jun-2022
Early Stage VC 18-May-2021
Total Raised to Date
2,68M $
As of 18-May-2021
General Information
Description
Developer of a mobile application designed to assist people with visual impairment to live independently. The company's
application offers its users to read texts in multiple languages, recognize faces and objects and describe scenes, thereby enabling
users to shop in supermarkets, use public transport, read menu cards in restaurants, recognize their friends, and find their
belongings on their own.
Most Recent Financing Status (as of 13-Jun-2022)
The company raised EUR 1.5 million of venture funding from Operator Exchange, 4impact.vc, and Impact Ventures Hungary on
May 18, 2021. ABN AMRO Bank and 4 angel investors also participated in the round. The funds will be used to scale up their team
in the Hague, expand the R&D team and marketing activities to further enhance the sales of the app and the glasses through a
network of distributors around the world.
Website
www.letsenvision.com
Year Founded
2017
Entity Type
Private Company
Universe
Venture Capital
Legal Name
Envision Technologies B.V.
Employees
32
Business Status
Generating Revenue
Ownership Status
Privately Held (backing)
Financing Status
Venture Capital-Backed
Industries, Verticals & Keywords
Primary Industry
Verticals
Keywords
Application Software
Artificial Intelligence &
Machine Learning
visual recognition technology
Other Industries
Accessories
Other Consumer Durables
Mobile
visual recognition software
visual recognition technology
platform
visual recognition system
visual recognition
computer vision
Contact Information
1
Primary Contact
Primary Office
Karthik Mahadevan
Wilhelmina van Pruisenweg 35
Co-Founder & Chief Executive Officer
karthik@letsenvision.com
Phone: +31 (0)65 167 0827
2595 AN The Hague
Netherlands
Phone: +31 (0)65 167 0827
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Last
Financing
Date/Type
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Amount
2020/Debt PPP
1,65M $
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0,06M $
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0,18M $
Comparisons
Envision
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Description
Developer of a mobile
application designed to
assist people with visual
impairment to live
independently.
Developer of a wearable
assistive product designed
to help visually impaired
and low-vision people.
Provider of a portable
artificial vision device
designed to assist the
visually impaired to
understand the text and
identify objects easily.
Developer of smart
glasses designed to
capture moments before
and after they happen.
Primary Industry
Application Software
Electronics (B2C)
Therapeutic Devices
Accessories
HQ Location
The Hague, Netherlands
La Jolla, CA
Jerusalem, Israel
Aptos, CA
Employees
32 | 2022
65 | 2019
356 | 2022
-
Total Raised
2,68M $
47,63M $
166,83M $
0,06M $
Post Valuation
-
73,76M $ | 26-Dec-2018
2,27B $ | 13-Dec-2020
-
Last Financing Details
2,23M $ | 2021/Early
Stage VC
1,65M $ | 2020/Debt - PPP
226,65M $ | 2020/Later
Stage VC
0,06M $ | 2022/Angel
(individual)
E Estimated
Current Team (5)
Name
Karthik
Mahadevan
Title
Co-Founder & Chief
Executive Officer
Board
Seats
Office
The Hague,
Netherlands
Phone
Email
+31 (0)65 167 0827
karthik@letsenvision.com
2
Rudolf Maas
Geesteranus
Chief Financial Officer
The Hague,
Netherlands
+31 (0)64 424 8383
rudolf@letsenvision.com
Karthik Kannan
Co-Founder & Chief
Technology Officer
The Hague,
Netherlands
+31 (0)65 167 0827
kk@letsenvision.com
Vanessa Vigar
Chief Marketing
Officer
The Hague,
Netherlands
+31 (0)65 167 0827
vanessa@letsenvision.com
Pierre Kegels
Advisor
The Hague,
Netherlands
+31 (0)65 167 0827
Deal History (5)
#
Deal Type
Date
Amount
Raised to
Date
Status
Stage
5.
Early Stage VC
18-May-2021
2,23M $
2,68M $
Completed
Generating Revenue
4.
Seed Round
06-Mar-2019
0,38M $
0,45M $
Completed
Generating Revenue
3.
Accelerator/Incubator
02-Jan-2019
0,08M $
Completed
Generating Revenue
2.
Grant
17-Oct-2018
0,01M $
0,08M $
Completed
Generating Revenue
1.
Accelerator/Incubator
01-Sep-2018
0,08M $
0,08M $
Completed
Generating Revenue
† Indicates an Add-On
E Estimated
Deal #5: Early Stage VC, 2,23M $, Completed; 18-May-2021
VC Round
2 Round
Financing Status
Venture CapitalBacked
Total Invested
Capital
2,23M $
Deal Types
Early Stage VC
Deal Amount
2,23M $
Financing Source
Venture Capital
CEO/Lead Mgt
Karthik Kannan
Deal Status
Completed
Raised to Date
2,68M
Site
Deal Date
18-May-2021
Total Invested
Equity
2,23M $
The Hague,
Netherlands
# of
Employees
12
Business
Status
Generating
Revenue
$ **
Deal Synopsis
The company raised EUR 1.5 million of venture funding from Operator Exchange, 4impact.vc, and Impact Ventures Hungary on
May 18, 2021. ABN AMRO Bank and 4 angel investors also participated in the round. The funds will be used to scale up their team
in the Hague, expand the R&D team and marketing activities to further enhance the sales of the app and the glasses through a
network of distributors around the world.
‡ Not necessarily a summation of individual debt figures
** Does not include grant funding
E Estimated
Investors (8)
Investor Name
Status
Lead/Sole
Comments
1. 4impact.vc
Follow-On
Investor
No
Lead Partner:
Pauline Wink-Zaanen
Form of Payment:
Cash
Fund 1:
4impact.vc Fund
3
2. ABN AMRO Bank
New Investor
3. Impact Ventures Hungary
4. Lucas Meijer
New Investor
New Investor
5. Mark De Lange
New Investor
No
No
No
No
Lead Partner:
Eric Buckens
Form of Payment:
Cash
Fund 1:
Sustainable Impact Fund
Amount:
0,74M $
Lead Partner:
Elemér Eszter
Form of Payment:
Cash
Fund 1:
Impact Ventures Hungary I
Lead Partner:
Lucas Meijer
Form of Payment:
Cash
Lead Partner:
Mark De Lange
Form of Payment:
Cash
6. Operator Exchange
New Investor
No
Form of Payment:
Cash
7. Paulus Veugen
New Investor
No
Lead Partner:
Paulus Veugen
Form of Payment:
Cash
Lead Partner:
Sanne Manders
Form of Payment:
Cash
8. Sanne Manders
New Investor
No
E Estimated
Advisors (2)
#
Advisor Name
Service Type
Hired By
Comments
1.
Benvalor
Legal Advisor
Envision
Lead Partner:
Sjoerd Mol
2.
Ingen Housz
Legal Advisor
Impact Ventures
Hungary
Lead Partner:
Matthijs
IngenHousz
Deal #4: Seed Round, 0,38M $, Completed; 06-Mar-2019
VC Round
1 Round
Deal Types
Seed Round
Deal Amount
Deal Status
Deal Date
Financing Status
Venture CapitalBacked
Total Invested
Capital
0,38M $
0,38M $
Financing Source
Venture Capital
Completed
Raised to Date
0,45M
CEO/Lead
Mgt
Karthik
Mahadevan
06-Mar-2019
Total Invested
Equity
0,38M $
Site
The Hague,
Netherlands
Business
Status
Generating
Revenue
$ **
Deal Synopsis
The company raised EUR 250,000 of seed funding from 4impact.vc on March 6, 2019. The company intends to use the funding for
its growth and to spread its cause.
4
‡ Not necessarily a summation of individual debt figures
** Does not include grant funding
E Estimated
Investors (1)
Investor Name
Status
Lead/Sole
Comments
1. 4impact.vc
New Investor
Yes
Amount:
0,38M $
Lead Partner:
Ali Najafbagy
Form of Payment:
Cash
Fund 1:
4impact.vc Fund
E Estimated
Advisors (1)
#
Advisor Name
Service Type
Hired By
1.
Benvalor
Legal Advisor
Envision
Comments
Deal #3: Accelerator/Incubator, Completed; 02-Jan-2019
Deal Types
Accelerator/Incubator
Deal Status
Completed
Deal Date
02-Jan-2019
Financing
Status
Accelerator/Incubator
Backed
CEO/Lead
Mgt
Karthik
Mahadevan
Financing
Source
Other
Site
The Hague,
Netherlands
Raised to
Date
0,08M $ **
Business
Status
Generating
Revenue
Deal Synopsis
The company joined YES!Delft on January 2, 2019.
‡ Not necessarily a summation of individual debt figures
** Does not include grant funding
E Estimated
Investors (1)
Investor Name
Status
Lead/Sole
Comments
1. YES!Delft
New Investor
Yes
Form of Payment:
Cash
E Estimated
Deal #2: Grant, 0,01M $, Completed; 17-Oct-2018
Deal Types
Grant
Deal Amount
0,01M $
Deal Status
Completed
Deal Date
17-Oct-2018
Financing
Status
Accelerator/Incubator
Backed
Total Invested
Capital
0,01M $
Financing
Source
Other
CEO/Lead
Mgt
Karthik
Mahadevan
Raised to
Date
0,08M $ **
Site
The Hague,
Netherlands
Business
Status
Generating
Revenue
5
Deal Synopsis
The company was awarded EUR 7,000 of prize money from ImpactCity on October 17, 2018.
‡ Not necessarily a summation of individual debt figures
** Does not include grant funding
E Estimated
Investors (1)
Investor Name
Status
Lead/Sole
Comments
1. ImpactCity
New Investor
Yes
Amount:
0,01M $
Form of Payment:
Cash
E Estimated
Deal #1: Accelerator/Incubator, 0,08M $, Completed; 01-Sep-2018
Deal Types
Accelerator/Incubator
Deal Amount
0,08M $
Deal Status
Completed
Deal Date
01-Sep-2018
Financing
Status
Accelerator/Incubator
Backed
Total Invested
Capital
0,08M $
Financing
Source
Other
CEO/Lead
Mgt
Karthik
Mahadevan
Raised to
Date
0,08M $ **
Site
The Hague,
Netherlands
Total
Invested
Equity
0,08M $
Business
Status
Generating
Revenue
Deal Synopsis
The company joined EIT Health in September 2018 and received EUR 50,000 in funding.
‡ Not necessarily a summation of individual debt figures
** Does not include grant funding
E Estimated
Investors (1)
Investor Name
Status
Lead/Sole
Comments
1. EIT Health
New Investor
Yes
Amount:
0,08M $
Form of Payment:
Cash
E Estimated
Investors (11)
Active Investors (11)
Name
Investor Type
Holding
Investor
Since
Board
Related Deals
ABN AMRO Bank
Investment Bank
Minority
May 2021
#5. Early Stage VC: New Investor, May
2021, Eric Buckens, 2,23M $
Impact Ventures
Hungary
Impact Investing
Minority
May 2021
#5. Early Stage VC: New Investor, May
2021, Elemér Eszter, 2,23M $
Lucas Meijer
Angel (individual)
Minority
May 2021
#5. Early Stage VC: New Investor, May
2021, Lucas Meijer, 2,23M $
6
Mark De Lange
Angel (individual)
Minority
May 2021
#5. Early Stage VC: New Investor, May
2021, Mark De Lange, 2,23M $
Operator Exchange
Angel Group
Minority
May 2021
#5. Early Stage VC: New Investor, May
2021, 2,23M $
Paulus Veugen
Angel (individual)
Minority
May 2021
#5. Early Stage VC: New Investor, May
2021, Paulus Veugen, 2,23M $
Sanne Manders
Angel (individual)
Minority
May 2021
#5. Early Stage VC: New Investor, May
2021, Sanne Manders, 2,23M $
4impact.vc
Impact Investing
Minority
Mar 2019
#4. Seed Round: New Investor, Mar 2019,
Ali Najafbagy, 0,38M $
#5. Early Stage VC: Follow-on, May 2021,
Pauline Wink-Zaanen, 2,23M $
YES!Delft
Accelerator/Incubator
ImpactCity
Impact Investing
EIT Health
Accelerator/Incubator
Minority
Minority
Jan 2019
#3. Accelerator/Incubator: New Investor,
Jan 2019
Oct 2018
#2. Grant: New Investor, Oct 2018, 0,01M
$
Sep 2018
#1. Accelerator/Incubator: New Investor,
Sep 2018, 0,08M $
Service Providers
Service on a Deal (3)
Service Provider
Name
Service Provided
Service To
Deal Date
Deal #
Benvalor
Legal Advisor
Envision
18-May-2021
5
Ingen Housz
Legal Advisor
Impact Ventures
Hungary
18-May-2021
5
Benvalor
Legal Advisor
Envision
06-Mar-2019
4
Comments
Lead Partners on Deals (10)
Investors (8)
Name
All
Deals
Title
Representing
Deals
Phone
Email
Elemér Eszter
6
Chairman
Impact Ventures
Hungary
#5. Early Stage VC:
May 2021, 2,23M $,
Completed
+36 (06)1
488 7476
eszter.elemer@impactventures.hu
Eric Buckens
1
Investment Director
ABN AMRO Bank
#5. Early Stage VC:
May 2021, 2,23M $,
Completed
+31 (0)20
628 2282
eric.buckens@abnamro.com
Lucas Meijer
1
Angel Investor
Lucas Meijer
#5. Early Stage VC:
May 2021, 2,23M $,
Completed
lucas@unity3d.com
7
Mark De Lange
1
Angel Investor
Mark De Lange
#5. Early Stage VC:
May 2021, 2,23M $,
Completed
+31 (0)20
261 3647
mark@aceandtate.com
Pauline Wink-Zaanen
4
Co-Founder &
Managing Partner
4impact.vc
#5. Early Stage VC:
May 2021, 2,23M $,
Completed
+31 (0)65
206 6570
pauline@4impact.vc
Paulus Veugen
12
Angel Investor
Paulus Veugen
#5. Early Stage VC:
May 2021, 2,23M $,
Completed
Sanne Manders
6
Angel Investor
Sanne Manders
#5. Early Stage VC:
May 2021, 2,23M $,
Completed
Ali Najafbagy
5
Co-Founder &
Managing Partner
4impact.vc
#4. Seed Round:
Mar 2019, 0,38M $,
Completed
paul@nphard.vc
+1 (415) 2315252
sanne@flexport.com
ali@4impact.vc
Service Providers - Sell Side (1)
Name
Sjoerd Mol
All
Deals
32
Title
Representing
Deals
Phone
Email
Partner
Benvalor
#5. Early Stage VC:
May 2021, 2,23M $,
Completed
+31 (0)88 303
0038
mol@benvalor.com
Title
Representing
Deals
Phone
Email
Founder & Advocate
Ingen Housz
#5. Early Stage VC:
May 2021, 2,23M $,
Completed
+31 (0)62 009
2349
mi@ingenhousz.nl
Service Providers - Buy Side (1)
Name
Matthijs Ingen-Housz
All
Deals
229
Signals Summary
This company has a weekly growth rate of 1,53%, placing it in the 97th percentile of all growth rates tracked within PitchBook. Its
underlying data points generate a size multiple that is 10,7x times larger than the median of all size multiples tracked within
PitchBook, placing it in the 91st percentile of all size multiples tracked within PitchBook.
Growth Rate Summary (Weekly)
Size Multiple Summary (x Median)
8
Twitter Followers
Social
Twitter Followers
Social
1 458
0,91%
1 458
4,97x
Similar Web Unique Visitors
Similar Web Unique Visitors
6 527
6 527
Web
Web
1,29%
26,5x
Majestic Referring Domains
1,53%
Majestic Referring Domains
10,7x
487
Growth Rate
97th percentile
487
Size Multiple
91st percentile
Employee Count
Employee
Employee Count
Employee
32
1,25%
32
1,03x
Mobile App Reviews
Mobile
Mobile App Reviews
Mobile
202
2,66%
202
10,4x
Signals History
Growth Rate History
Size Multiple History
Social Media Signals
9
Twitter Followers 1 458
Metric
Twitter Followers
Growth Rate
Growth Rate
Percentile
Size Multiple
Size Multiple
Percentile
Envision
All Companies
Average
1 458
0,91%
98th
12 835
0,14%
41st
4,97x
77th
44,4x
50th
Web Signals
Unique Website Visitors 6 527 in the last week
Metric
SimilarWeb Unique
Visitors
Growth Rate
Growth Rate
Percentile
Size Multiple
Size Multiple
Percentile
Referring Domains 487
Envision
All Companies
Average
6 527
18 173
3,56%
93rd
0,17%
30th
18,7x
90th
52,5x
49th
Metric
Majestic Referring
Domains
Growth Rate
Growth Rate
Percentile
Size Multiple
Size Multiple
Percentile
Envision
All Companies
Average
487
160
-0,98%
8th
-0,09%
15th
34,3x
97th
11,4x
49th
Ranking And Distribution
Weekly Growth 1,53%, 97th %ile
10
Percentile
0-10
10-20
20-30
30-40
40-50
50-60
60-70
70-80
80-90
90-100
Min Rate
Max Rate
Avg. Rate
-32,7%
-0,24%
0,01%
0,03%
-0,25%
0,00%
0,02%
5,90K%
-1,45%
0,00%
0,01%
1,51%
Min Size
Max Size
Avg. Size
0,00x
0,13x
0,23x
0,44x
0,65x
0,94x
1,44x
2,23x
3,94x
9,52x
0,12x
0,22x
0,43x
0,64x
0,93x
1,43x
2,22x
3,93x
9,51x
455Kx
0,06x
0,17x
0,35x
0,56x
0,80x
1,18x
1,81x
2,98x
6,02x
147x
Size Multiple 10,7x, 91st %ile
Percentile
0-10
10-20
20-30
30-40
40-50
50-60
60-70
70-80
80-90
90-100
Employee Signals
Employee Count 32
11
Company
Envision
All Companies Average
Employee
Count
Growth Rate
Growth
Percentile
Size Multiple
Size Percentile
32
1,25%
83rd
1,03x
52nd
1 587
0,42%
46th
44,2x
50th
Mobile Signals
Primary Mobile App
Envision AI
Category: Productivity, Utilities
Price: Free
Envision is the fastest, most reliable and award-winning OCR app that speaks out the visual world, helping
blind and visually impaired users to lead more independent lives.Envision is developed for and together
with the visually impaired community. The app is simple, gets things done and brings the best assistive
experience to blind and low vision users. Simply use your phone camera to scan any piece of text, your
surroundings, objects, people or products and everything will be read out to you thanks to Envision's
smart artificial intelligence (AI) and Optical Character Recognition (OCR)._____________________What
Envision users say about the app:"Easy going text recognition. Text recognition is outstanding. Good for
independence. Ease of use is immaculate" - Noahis from Australia"Amazing. I love it. I'm blind and I love
how easy it is to use. Amazing job!!!!" - Matt from Canada___________________With full talkback support,
Envision enables you to:Read all kinds of text:• Instantly read any piece of text in over 60 different
languages.• Easily scan your paper documents (single or multiple pages) with the help of audio-guided
edge detection. All content is spoken back to you and is ready for export and edit.• Import PDFs and
images to get a description of the image and recognition of all the text within it.• Quickly read handwritten
postcards, letters, lists and other paperwork.Know what's around you:• Effortlessly describe visual scenes
around you.• Detect colour on your clothes, walls, books, you name it.• Swiftly scan barcodes to get
extensive information about the products.Find what you're looking for:• Find people around you; the
names of your family and friends are spoken out whenever they are in the frame.• Find objects around
you; selecting common objects from the in-app list to find them.Share:• Share images or documents from
your phone or other apps like Twitter or WhatsApp by selecting Envision from the share sheet. Envision
can then read and describe those images for you.___________________Feedback, questions or feature
requests?We welcome everyone to provide their feedback about the Envision app, as we're constantly
improving. Please email us at support@LetsEnvision.com.Please read our Terms of Use & Privacy Policy:
www.LetsEnvision.com/termsIf... you're still reading all the way down here, we'd like to thank you for your
diligence, attention to detail and general commitment to finishing something that you started. Just like all
the team working at Envision!
Mobile Reviews 202
12
Mobile Reviews
Calculation Range
Mobile Rating
iOS Rating
Company
Mobile Reviews
Growth Rate
Growth
Percentile
Size Multiple
Size Percentile
202
2,66%
97th
10,4x
74th
17 270
0,53%
37th
927x
50th
Envision
All Companies Average
Company signals data was calculated against 1986431 companies within all companies.
Company Signals Population: Company Signals data is tracked for active companies (i.e. have not gone out of business) that
haven’t been exited from VC, PE, or Incubator/Accelerator. Social media presence is tracked only for companies that have a
Facebook/Twitter account; web presence is tracked only for companies whose websites are tracked by SimilarWeb and Majestic.
News
Envision Glasses for the Blind Can Read Documents, Scan Faces, Aid Navigation
Smart glasses from Envision are built on the enterprise edition of Google Glass.
Newslookup.com | 20-Apr-2022
Tagged entities: Envision
Envision aims to help visually impaired users live independently with updated AI-powered smart
glasses
Envision Glasses are designed with the aim of helping blind and visually impaired users better process text and the visual world
around them, according to
RamaOnHealthcare | 27-Mar-2022
13
Tagged entities: Envision
Envision aims to help visually impaired users live independently with newly updated AI-powered
smart glasses – MedCity News
Envision Glasses, which are equipped with a camera and powered by AI, capture images of text and turn it into audio, recognize
familiar faces and can help
Biz News Post | 27-Mar-2022
Tagged entities: Envision, MedCity Media
10 The Hague startups to watch in 2021 and beyond
In the beginning of this year, we introduced you to 10 super promising Netherlands-based startups to watch in 2021. Today, we've
decided to zoom in and
EU-Startups | 04-Aug-2021
Tagged entities: Envision, Doculayer, Dojoko, Finturi, Sibö
AI for eyes: Dutch startup Envision raises €1.5M to scale its AI-assistive tech for blind, visually
impaired
AI for eyes: Dutch startup Envision raises €1.5M to scale its AI-assistive tech for blind, visually impaired
Silicon Canals | 18-May-2021
Tagged entities: Envision
Dutch startup Envision announces the worldwide launch of its AI-assistive smart glasses for the
blind & visually impaired
Dutch startup Envision announces the worldwide launch of its AI-assistive smart glasses for the blind & visually impaired
Silicon Canals | 26-Nov-2020
Tagged entities: Envision
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