Global sustainable initiative startup Walk15, based in Vilnius, today announced the opening of its Series A investment round, continuing its rapid growth and reaching a valuation of €30 million – double the company’s market valuation from last year.
Initial investments have already come in from its existing shareholders, including the VC fund Coinvest Capital, led by Viktorija Trimbel, the Angel syndicate NGL, led by Justinas Pašys, among other investors.
“Our goal is to build a strong team and replicate the success formula we have implemented in other countries. I am grateful that my family is with me on this journey and that ‘Walk15’ has a strong and reliable team in Lithuania that I trust completely. I am deeply thankful to our investors for enabling us to continue growing and moving forward,” said Founder and CEO, Vlada Musvydaitė-Vilčiauskė.
Founded in 2019, Walk15 is rapidly approaching 1 million app users globally, with its most active markets being the Baltic and Scandinavian countries, Germany, Romania, the United Kingdom, and the U.S.
Currently, the Walk15 team is focused on introducing new functionalities for users and monetising the B2C segment. However, they maintain that their core principle remain unchanged – the mobile app will continue to be free and accessible to everyone.
A year ago, Walk15 established an office in Berlin, where its Founder and CEO, Musvydaitė-Vilčiauskė, now spends “nearly half of her time“.
NGL leader Justinas Pašys highlights Germany’s potential for the further expansion of Walk15: “We are reinvesting in Walk15 because we believe in the team and the company’s long-term potential in the wellness and sustainability sectors. The company has achieved strong international expansion results and successfully laid the groundwork for growth in the German market with strategic partners. This investment will further strengthen ‘Walk15’s’ position in Germany, open new markets in the CEE region, enhance the product, and begin testing the U.S. market.”
Trimbel added: “The success of startups lies entirely in the hands of their teams – how quickly and efficiently they can develop a product, evolve, manage business operations, and mitigate risks in a world of constant change. If our first investment was driven by three factors – sustainability, global reach, and female empowerment – this time, I am adding a fourth: reliability. Under the leadership of Vlada Musvydaitė-Vilčiauskė, ‘Walk15’ is steadily following its strategy to make sustainability and wellness an everyday habit for people worldwide. We are proud to be part of this journey toward change and success with our fellow investors.”
According to Walk15 Musvydaitė-Vilčiauskė, one of the greatest validations of the product is when app users and clients decide to invest in it.
“First, we tested Walk15 solutions ourselves – we are regular users – and we see real impact. It’s much more than an app; it’s an initiative that unites colleagues into a community, encourages sustainability and wellness activities, and fosters a shared goal. Seeing how deeply our team engaged and the positive impact on our organisation’s atmosphere, we decided to invest,” said Paulius Gedminas, Head of the PVVG Holding family fund. “Moreover, Walk15 has a clear strategy for expanding in both the business and public sectors, demonstrating impressive growth metrics and gaining international recognition. Investing in Walk15 is a natural step when you see a product that not only creates value but also has a solid business model and a strong vision for expansion.”
The Lithuanian startup collaborates with prominent international partners, including EuroLeague, the REWE Group, Ergo, Gitex Europe, the GreenTech Festival, and the European Association for People Management (EAPM).
During the UEFA EURO 2024 in Berlin, Walk15 engaged football fans from around the world in mobility and sustainability initiatives.
According to Walk15 Co-founder Vytautas Višinskis, the main goal of the company’s Series A round is to raise up to €5 million and secure participation from an international fund specialising in sustainability and public health.
“Walk15 provides a solution that helps companies engage their target audience—whether clients or employees—in step or cycling challenges. We see tremendous potential not only in the B2B segment but also among a broader consumer audience,” Višinskis said.
