Axel, the Georgian Angel Investors Network, has made its first syndicated investment in Georgian technology startup Theneo.
The investment was followed by the Axel International Business Angels Summit, which was held in cooperation with the Tbilisi City Hall and with the support of the Bank of Georgia, Visa and Grant Thornton. At the summit, Theneo was one of ten startups to present to investors.
Theneo is a startup founded by Ana Robakidze and Maria Doliashvili and works to automate the content creation process so that developers can quickly build high-quality interactive API (application programming interface) documentation. A few days ago it became known that Theneo became a participant of the 2022 winter program of the American startup accelerator Y Combinator.
“We are delighted to have been able to enable our members to invest in an extraordinary API documentation tool that makes it incredibly easy for developers or non-technical team members. We also have a lot of confidence in the Georgian startups, Ana and Maria, who are turning Theneo into a globally successful project, ”said Tatuli Okriashvili, Axel’s Managing Director.
”Theneo is very grateful that Axel has partnered with Cartool to support and support our startup. Axel, like Theneo, is taking its first steps. We look forward to seeing the unity we will create in the future with great hope and interest. ” – Says Ana Robakidze, co-founder and CEO of Theneo.
From June 2021 until today, Axel members and partners have made a number of individual investments in other Georgian startups, although the case of Theneo is the first when the check was issued by a syndicate – Angel Investors Team. This is an important step not only for Axel, but also for angel investment in Georgia and the country’s technological startup ecosystem in general.
Axel, Georgian Business Angels Network, already unites more than 50 international and local angel investors.
The network was established in June 2021 and aims to promote the development of Georgia’s technological startup ecosystem by facilitating the investment of smart money in Georgian entrepreneurs with the greatest potential.
Since December 2021, Axel has been a member of the European Business Angels Network (EBAN).