“Walk15”, a platform for creating step challenges for companies, has attracted 400,000 Eur investment. Lithuanian startup, uniting more than 1,000 international companies and 420,000 users, offers a solution that helps companies and organizations to solve the problem of low employee involvement in physical activity and the lack of education about sustainability.
A solution for companies
The walking platform “Walk15” offers companies and organizations a smart steps challenge solution. Due to its relevance, the startup has already been awarded at the international level. The company counts that since July 2019, more than 1,000 companies have used the steps challenges solution in Lithuania, Latvia, Denmark, Germany, and other European countries.
“The market was missing a simple tool that could easily allow engaging the team on wellness and sustainability without taking a lot of time from HR departments. After creating a steps challenge on the platform, employees use the “#walk15” app. While walking they can also convert their steps into special discounts and offers for buying healthy or sustainable products and services. We are happy to have received the investment and to be able to offer this automated solution to foreign companies. For this, I especially want to thank the Lithuanian Business Angels Network (hereinafter – “LitBAN”)”, says Vlada Musvydaitė-Vilčiauskė, Founder and CEO of the “Walk15”.
400,000 Eur for the development of the platform
A successful expansion in the markets of Germany and Denmark together with cooperation with the Euroleague, the largest basketball league in Europe, helped the start-up attract the third and largest investment of 400,000 Eur. At this stage, existing shareholders and other well-known business angels in Lithuania and Europe, as well as the investment fund “Business Angels Fund II” operating in Lithuania, invested in “Walk15”. The investment is dedicated to the development of the platform and the development of the startup abroad.
“Our fund, together with private investors, invests in rapidly growing startups in various business segments. With its solutions for consumers, “Walk15” has entered the field of preventive medicine, which should develop strongly in the near future. We believe that the “Walk15” team, which sets high goals for itself and thinks about added value for the user, will cope with the challenges ahead and achieve the expected results”, says Daiva Rakauskaitė, Head of “Business Angels Fund Management”.
Private investors who made the decision to invest emphasized the strength of the “Walk15” team and its ability to implement the set goals and solutions that change consumer behavior.
“I invested because of the concept and the future perspective of “Walk15”. I am impressed by the team’s drive, ability to execute and vision nurtured by the founder Vlada”, says Rita Sakus, LitBAN Founding and Board Member and Board Member of the European Business Angels Network.
For one of the business angels, the investment in “Walk15” is the first in his investment career. According to the entrepreneur, the start-up drew his attention because of the direction it is moving towards.
“I decided to invest because of the values fostered by the startup, which is close to me. Promoting health improvement is close to me both personally and as a head of the company who cares about the health of employees. Also important is the aspect of CO2 emissions and the fact that these topics are presented in an engaging game format. I believe that this startup will succeed”, says business angel Gediminas Tamošaitis.
Further – expansion in Germany
“Walk15” was the first in Lithuania to offer the opportunity to exchange steps for discounts on healthy and sustainable choices – from discounts on train tickets or car-sharing services to discounts on healthy products at the supermarket.
Today, 15 people are working on the “Walk15” idea. After successfully implementing a joint project with “ERGO Group AG” in Germany that brought together more than three hundred teams, the startup is currently trying to attract investments for development in this market.
Although “Walk15” carries out active development actions outside Lithuania in Latvia and Denmark, the solution has already been recognized on a continent-wide scale. A few weeks ago, the startup team returned from London, where they were selected among the top five wellness solutions in Europe at the “Connected Health&Fitness Summit Europe 2022”. Also this November, the walking platform entered the final stage of the “EIT Urban Mobility” initiative.
Some time ago, the “Walk15” solution was recognized as the best in Europe at the “European Young Innovators” awards, in the wellness category, and for the step discounts for fruits and vegetables offered together with the “IKI” shopping chain, it won second place at the “Digital Communication Awards”, in the experiential marketing category.