🦊/Investors

Almaz Capital

Venture capital

Portola Valley · Series A–Series B

Also known as ALMAZ CAPITAL MANAGEMENT LTD.

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Investment thesis

Transatlantic bridge connecting CEE/CIS deep-tech and B2B software teams to US/EU markets, leveraging co‑founder Alexander Galitsky’s cross‑border deep‑tech experience and offering structured US go‑to‑market and Western governance support.

Source: firm website, verified Sep 15, 2026.

Stage
Series A–Series B
HQ
Portola Valley, California, US
Leads rounds
Follows
Instruments
Equity
Founded
2008
Last 12 months
2 investments
Private fund assets
$65.6M
VC funds
2
Tracked investments
38
Unicorns
1
IPOs
1

What they invest in

from 33 of 38 portfolio companies

AI & Machine Learning ×16SaaS ×15Enterprise Software ×13Cloud Computing ×7Data & Infrastructure ×5Hardware ×5Consumer ×4E-commerce ×4

HQs:United States×16Germany×4Austria×1Estonia×1Israel×1Latvia×1

Investments · 38 tracked

founders shown can be your intro path

By year:2025 · 32024 · 12022 · 12021 · 22020 · 12016 · 12014 · 110 dated

Xometryxometry.comin𝕏NASDAQ: XMTR

Xometry operates an on-demand manufacturing marketplace connecting buyers—from startups to global enterprises—with a vetted global network of suppliers for precision components across prototyping and high-volume production.

Advanced ManufacturingB2B MarketplacesLogistics & Supply ChainGaithersburg, US

Randy Altschuler(Founder)inRandolph Altschuler(Co-Founder, Chief Executive Officer and Director)Sanjeev Singh Sahni(President)in

BoardGeorge Hornig(Director)Laurence Zuriff(Executive Officer, Director, Promoter)John Deutch(Director)

Co-investorsBMW i VenturesCherry VenturesDell Technologies CapitalMaryland TEDCOPraxis Ventures Management, LlcTEDCO+5 more

3Dlook3dlook.aiin𝕏✓ verified

3DLOOK uses patented computer vision and AI to convert smartphone photos into structured body measurements and composition data for health, fitness, apparel, and insurance applications.

AI & Machine LearningDigital HealthHealthtech

Co-investors500 GlobalBoost VCTLF VenturesTMT InvestmentsFlyer One Ventures

Certivitycertivity.ioin✓ verified

Certivity operates a cloud-based RegTech SaaS platform that converts regulations, standards, and company-specific documents into structured, traceable data and engineering-ready requirements.

AI & Machine LearningEnterprise SoftwareSaaSMunich, DE

Sami Vaaraniemi(Co-founder)inNico Wägerle(Co-founder & CEO)inBogdan(Co-founder)Jörg(Co-founder)

Co-investorsUVC PartnersEarlybird Venture Capital

3Dlook3dlook.mein𝕏

FitXpress uses AI-powered computer vision to estimate body weight from images, enabling verification of self-reported data for BMI calculations in healthcare and wellness applications.

AI & Machine LearningConsumerHealthtechMedical Devices

Alex ArapovinIvan MakeevinVadim Rogovskiyin

Co-investors500 Emerging Europe500 Global

Acronisacronis.comin𝕏Sep 2014

Acronis provides an integrated cyber protection platform for managed service providers (MSPs) that combines operations management, cybersecurity, and data protection capabilities to reduce costs and security risks across client workloads.

BiotechCloud ComputingCybersecurityEnterprise SoftwareSaaSSchaffhausen

Serguei Beloussov(Director)Ilya Zubarev(Director)

BoardThomas Michael Triplett(Director)Ravi Jacob(Director)Rene Bonvanie(Director)

Co-investorsCVC Asia Pacific (Japan) Kabushiki KaishaDelta-v CapitalLiquidity CapitalMillennium New HorizonsMillennium Technology Value PartnersNovaCapital+4 more

Acumaticaacumatica.comin𝕏

Acumatica provides all-in-one cloud ERP software with industry-specific solutions covering business workflows, dashboards, reporting, and mobile access.

Cloud ComputingEnterprise SoftwareSaaS

Mikhail Shchelkonogov(Founder)in

Co-investorsAccel-KKRRuna Capital

Alawaralawar.comin𝕏

Alawar is a game developer and publisher that creates midcore and casual games for PCs, video game consoles, and mobile devices.

Gaming

Alexander LyskovskySergey Zanin(Chief Executive Officer)

Alcatraz AIalcatraz.aiinApr 2021 · $6.1M

Alcatraz develops facial recognition technology for access control systems.

AI & Machine LearningCybersecurityEnterprise SoftwareHardwareMountain View, US

Vince Gaydarzhiev(Executive Officer, Director)inScott Macomber(Director)Raymond Stata(Director)Tina DAgostin(Executive Officer, Director)

Co-investorsBlackPeak CapitalCogito Capital PartnersGolden SeedsHCVCHemi Ventures, LlcRuvento Ventures Pte Ltd.+3 more

Alisonalison.aiin𝕏

Alison.ai provides AI-powered creative production tools for advertising teams, offering automated asset generation, real-time market insights, and data-driven optimization to improve campaign performance across channels.

AdTechAI & Machine LearningMarketing TechSaaS

Co-investorsAlumni VenturesBasecamp FundCardumen CapitalCrescendo Venture PartnersForesight Group

Areti Healtharetihealth.cominDec 2025

Areti Health provides an AI coordinator for clinical trial enrollment that handles patient outreach, eligibility screening, scheduling, and follow-up across multiple channels and languages.

AI & Machine LearningDigital HealthHealthtechMedical DevicesHillsborough, US

Ilya Gluhovsky(Executive Officer, Director)Paul Neyman(Executive Officer, Director)

BoardRob Leclerc(Director)in

Co-investorsAgFunderPreface Ventures

CarPricecarprice.ru

CarPrice is an online auction service for selling used cars in Russia, where authorized buyers across the country bid competitively for a seller's vehicle after a standardized legal and technical inspection.

E-commerceMarketplacesMobility & TransportationMoscow, RU

Co-investorsAltaIR CapitalFastlane Ventures

Cinarracinarra.com

Cinarra processes location data from wireless networks and provides measurement and analytics services that enable network operators to monetize location insights at scale.

AdTechData & InfrastructureMarketing TechBay Area, US

Co-investorsSoftBank Group

DMarketdmarket.com𝕏Apr 2020

DMarket is an online marketplace for buying, selling, and trading in-game skins and virtual items for games such as CS2, Team Fortress 2, and Rust.

E-commerceGamingMarketplacesSanta Monica, US

VOLODYMYR PANCHENKO(Executive Officer, Director)Tamara Slanova(Founder)in

Co-investorsFulgur VenturesPantera Capital

GoodDatagooddata.comin𝕏

GoodData offers an embedded analytics platform that integrates dashboards, reports, and AI-driven insights directly into customer applications.

AI & Machine LearningData & InfrastructureEnterprise SoftwareSaaSSan Francisco, US

Co-investorsTenaya Capital

GridGaingridgain.comin𝕏

GridGain develops in-memory data computing software and supports open source foundations including the Apache Software Foundation, Cloud Native Computing Foundation, and Linux Foundation.

AI & Machine LearningCloud ComputingData & InfrastructureEnterprise Software

Co-investorsR136 VenturesSilver Lake PartnersThe Perkins Fund

HOVERhover.toinOct 2016

Hover transforms smartphone photos into interactive 3D models of homes and buildings for construction professionals, insurance experts, and homeowners to measure, design, and scope projects.

Construction TechHardwarePropTechSaaSSan Francisco, US

Adam J. Altman(Executive Officer, Director)Kevin Reilley(Executive Officer, Director)in

BoardRoss Hangebrauck(Director)Kevin Compton(Director)Stewart Alsop(Director)inCharles Galford(Director)

Co-investorsAlsop Louie PartnersAmerican Family VenturesFinSight VenturesInventus Capital PartnersMenlo Ventures

Minutminut.comin𝕏

Minut produces Internet of Things devices and software for managing shared properties such as multifamily housing and short-term rentals, helping operators monitor spaces and make decisions while protecting privacy.

Enterprise SoftwareIoTPropTechMalmö, SE

Nils Mattisson(Co-founder)inFredrik AhlberginMartin LööfinMarcus Ljungbladin

BoardHampus Jakobsson(Director)inTommi Uhari(Director)in

Co-investorsCuriosity VCKarma VenturesKOMPAS VCKPN Ventures

Moonshot Aimoonshot-ai.comin

Moonshot is a platform that automates optimization of eCommerce websites through continuous testing and improvement, reducing the need for large teams of designers, developers, and analysts.

AI & Machine LearningE-commerceSaaSTel Aviv, IL

Evyatar Segal(Founder)inSebastian Gebhart(Chief Revenue Officer)

Co-investorsGaruda VenturesMighty CapitalOceans Ventures

NFWarenfware.comin𝕏

NFWare develops networking software, including virtualized solutions for building flexible, high-performance networks.

Cloud ComputingDeep TechEnterprise SoftwareSaaSWalnut Creek, US

Alexander Britkin(Founder)in

Co-investorsMaxfield CapitalWayra

Nomagicnomagic.aiin𝕏

Nomagic develops robots and automation systems to assist warehouse operators and managers with repetitive manual tasks.

AI & Machine LearningLogistics & Supply ChainRobotics

Kacper Nowicki(Founder & CEO)in

Co-investorsCapnamicCogito Capital PartnersDN CapitalEBRD Venture Capital Investment ProgrammeEvolution VC PartnersFf Venture Capital+5 more

OneSoilonesoil.aiinApr 2021 · $5M

OneSoil is a precision agriculture platform that turns satellite data and AI into field monitoring, variable-rate application maps, productivity zones, and crop identification for farmers and agri-service companies.

AgTechAI & Machine LearningSaaS

Co-investorsBamboo Group OÜBulba Ventures

Petcubepetcube.comin𝕏

Petcube makes internet-connected pet devices, starting with pet cameras, and operates a platform for curated pet products that use data analytics to provide insights into pet health and behavior.

AI & Machine LearningConsumerHardwareIoTSan Francisco, US

Yaroslav Azhnyuk(Founder/CEO)inAndriy Klen(Founder/Chief Design Officer)inAlex (Sasha) Neskin(Founder/CTO)in

Co-investors408 VenturesAVentures CapitalCabra VCICU VenturesY CombinatorZillionize

Portsideportside.coin

Portside provides a software platform for business and general aviation, serving flight departments, charter operators and FBOs across 30+ countries.

Cloud ComputingEnterprise SoftwareSaaSTravel & HospitalityFoster City, US

ALEK STRYGIN(Executive Officer, Director)inALEK VERNITSKY(Executive Officer, Director)in

BoardJOHN CURTIUS(Director)in

Co-investorsInsight PartnersJ17 CapitalRecall CapitalSAV (Scale Asia Ventures)I2BF Global VenturesLocus Ventures+3 more

Rasarasa.comin𝕏

Rasa builds a conversational AI platform that extends large language models with business logic, enabling enterprises to develop AI agents that handle high-volume interactions securely.

AI & Machine LearningData & InfrastructureDeveloper ToolsEnterprise SoftwareSaaSSan Francisco, US

Alex Weidauer(Co-founder & Strategic Advisor)Tom Bocklisch(Principal Architect)in

Co-investorsAccelBasis Set VenturesPayPal VenturesAndreessen HorowitzAngel InvestDig Ventures Management Limited+5 more

Refurbedrefurbed.dein𝕏Oct 2025

Refurbed operates a marketplace for refurbished electronics, where devices are reconditioned through a multi-step process and sold to consumers as more environmentally sustainable alternatives to new products.

Circular EconomyE-commerceMarketplaces

Peter Windischhofer(Founder)inKilian Kaminski(Founder)in

Co-investorsC4 VenturesEvli Growth PartnersExpon CapitalSevenVenturesSpeedinvest

Sonarworkssonarworks.cominFeb 2024

Sonarworks develops audio personalization technology and sound correction software for music creators, recording studios, and consumer listeners.

AI & Machine LearningConsumerCreator EconomyHardwareSaaSRiga, LV

Martins Popelis(Founder)inHelmuts Bems(Founder)inInguna Kronberga(Executive Officer)

BoardGeoffrey Baehr(Director)Kristjan Laanemaa(Director)in

Co-investorsKarma VenturesPerot JainSpecialist VCPractica CapitalSuperAngelTrind Ventures

specter automationspecter-automation.cominMar 2025

Specter automation is a ConTech startup that builds software for digitizing construction sites, designed together with construction site users such as site managers and foremen.

Construction TechPropTechSaaSCologne, DE

Max Gier(Founder)in

Co-investorsLBBW Venture Capital GmbHTechVision FondsShilling VCTechVision Fund

StarWind Softwarestarwindsoftware.comin𝕏

StarWind provides hardware-agnostic infrastructure software (HCI, management, storage, and virtualization) for vendors and system integrators to embed in their own solutions.

Cloud ComputingData & InfrastructureEnterprise Software

Co-investorsAVentures Capital

Usoundusound.comin𝕏

USound develops MEMS speaker technology and related audio components for wearables, hearables, and audio devices.

ConsumerDeep TechHardwareIoTSemiconductorsVienna, AT

Co-investorseQventure

Workerbaseworkerbase.cominOct 2022

Workerbase offers a connected worker platform for manufacturing that digitizes shopfloor work, delivers guided digital work instructions, orchestrates tasks by worker skill, and connects to factory systems and machines.

Advanced ManufacturingAI & Machine LearningFuture of WorkSaaSMunich, DE

Norman Hartmann(Founding team member)inThorsten Krueger(Founder)in

Co-investorsBayern KapitalPoint NinePorsche Ventures

Xoloxolo.ioin𝕏

Xolo provides business setup, invoicing, accounting, taxation, and compliance software for solo entrepreneurs and freelancers across multiple countries.

Enterprise SoftwareFintechFuture of WorkLegalTechSaaSTartu, EE

Allan Martinson(CEO)in

Co-investorsKarma VenturesMetaplanetSpecialist VCThorgate VenturesVendep Capital

Yazenyazen.comin

Yazen offers a weight-loss programme that combines medical treatments, including weight-loss medication, with personalised support from doctors, coaches, psychologists, dietitians, and personal trainers.

Digital HealthHealthtechWellness & Fitness

Co-investorsEvli Growth PartnersLuminar Ventures

Zededazededa.comin𝕏

ZEDEDA provides a platform for deploying, orchestrating, and securing edge AI models, agents, and autonomous workloads across distributed sites such as factory floors, field sites, retail stores, and shipping vessels.

AI & Machine LearningCloud ComputingEnterprise SoftwareIoTSan Jose, US

Said Ouissal(Executive Officer, Director)in

BoardLisa Edwards(Director)inBilal Zuberi(Director)inJuan Muldoon(Director)inKevin DeNuccio(Director)Steve Mullaney(Director)in

Co-investorsAlpha Wave GlobalEnergize CapitalLux CapitalProsperity7 VenturesSmith Point CapitalChevron Technology Ventures+3 more

Other

Tracked investments with no reachable website or further public details — typically companies that wound down, renamed, or were absorbed.

FinalpriceMakeTimeMobalyticsNeptuneVirtuozzo

Exits · 1

1 IPOs

XometryNASDAQ: XMTR

Portfolio news

latest coverage across their companies

Frequently asked questions

How many investments has Almaz Capital made?
Almaz Capital has 38 tracked investments, 1 of which have exited, including 3 dated in the last 24 months.
What stage does Almaz Capital invest at?
Almaz Capital invests at the Series A, Series B stages.
What sectors does Almaz Capital focus on?
Almaz Capital focuses on Deep Tech, Enterprise Software, SaaS.
Where is Almaz Capital located?
Almaz Capital is headquartered in Portola Valley, US.
Does Almaz Capital lead rounds?
Almaz Capital typically participates in rounds rather than leading them.

Co-investors · 8

Karma Ventures

Karma Ventures is a European venture capital firm investing in deep-tech software startups at late seed and Series A stages.

$1.1M – $5.4M
Foundry

Foundry invests in early-stage startups and venture funds across multiple sectors. The firm builds a portfolio-based network connecting portfolio companies with other investors and entrepreneurs.

Both backed · 2
$250K – $15M
Cabra VC

Cabra VC is a venture capital firm that invests in seed through growth-stage companies with a follow-on strategy, backing founders targeting large international markets.

Both backed · 2
PetcubeMobalytics
AVentures Capital

AVentures Capital is a venture capital firm rooted in the Ukrainian tech ecosystem, backing IT, internet, media, and enterprise software startups. Note: the page is an unofficial fan site created by portfolio company founders.

Keyhorse Capital

Keyhorse Capital is a seed and early-stage venture capital firm that invests in high-growth, technology-enabled startups based in or willing to relocate to Kentucky.

Both backed · 1
G2 Venture Partners

G2 Venture Partners is a venture capital firm that invests in technology companies at their inflection points to help transform traditional industries toward sustainability.

$15M – $25M

Firms observed investing alongside Almaz Capital, from public investor directories. Shared companies are the overlap with Almaz Capital's recorded portfolio.

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