Kinstellar, working with Dewi Advisory, has advised Eleven Ventures on leading a USD 2 million investment round in Frisbo.
Eleven Ventures was joined by GapMinder, Roca X, and Neogen Capital, all previous investors in Frisbo.
According to Kinstellar, “Eleven Ventures is one of the largest venture capital funds in Southeast Europe, investing in startups since 2012. With 150 collective investments in the last nine years, the company has played a key role in developing the regional startup ecosystem.”
Founded in 2014, Frisbo matches retailers with a network of operators and smart logistics. According to the firm, “it has a rich network of warehouses for next-day deliveries and is active in 15 European countries, including Romania. The company intends to use the latest investment to expand its operations and gain wider access to the regional market.”
Kinstellar’s team included Senior Associate Patricia Piticas and Associate Cosmin Vasilescu as well as Dewi Advisory Partner Razvan Popa.
Kinstellar did not reply to our inquiry on the matter.