Lithuanian wellness technology platform Walk15 raised €500K

Lithuanian wellness technology platform Walk15 raised €500K from the co-founder of the Lithuanian marketplace Vinted and Practica Capital Mantas Mikuckas and business angels of LitBAN. The valuation of the startup during the round was €15M.

Founded in 2019 in Vilnius by Vlada Musvydaite, Rugile Bineviciene, Vytautas Visinskis, and Oleg Zheleznyi, Walk15 offers a solution that helps companies and organizations solve the problem of low employee engagement in physical activity. The startup application counts the steps of the employee, client, or partner of the enterprise. Then, it converts them into discounts and offers to purchase healthy products and services according to an agreement with the company. For instance, one of the products can be a company eco sweater. 

According to the startup, its revenue has grown eightfold since its inception. Walk15 works with more than 1,3K international companies, such as Liminor, SEB, Vinted, AstraZeneca, Penny, and others. The application has more than 600K users and is available in 25 languages.

Walk15 will use the investment to expand into Germany. In addition, the team plans to test a B2C model this year. Apart from walking, Walk15 considers offering new challenges, such as cycling and other activities compatible with smart devices.

Mantas Mikuckas is a Lithuanian entrepreneur, who is focusing on investments in Baltic companies or European startups with Baltic-origin founders. This year, Mantas Mikuckas invested in Latvian robotics startup Aerones, a new €100M tech campus Tech Zity in Vilnius, Lithuanian educational technology company Teachers Lead Tech.