# Covve Visual Network

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/covve-visual-network

- Industry: Software
- Headquarters: Nicosia, Cyprus
- Website: www.covve.com
- Total disclosed funding: $1.1M
- Latest round: Seed (Nov 21, 2019)
- Investors on record: 1

## About

Covve Visual Network Limited focuses on developing digital networking solutions that enhance professional relationships, offering tools for contact management and business card digitization.Covve Visual Network Limited was founded in 2013 in Nicosia, Cyprus. The company specializes in digital networking solutions. The founders, Alexandros Protogerellis and Yiannis Gavrielides, established the firm with the vision to modernize networking practices. Covve raised EUR 1 million in Seed funding on November 21, 2019, led by Metavallon VC, bringing the total amount raised to EUR 1 million. Covve has completed one deal to date.Covve Visual Network Limited specializes in innovative digital networking solutions designed to enhance professional relationships. The company’s core offerings include a digital business card scanning tool and a personal customer relationship management (CRM) system. The business card scanner allows users to digitize contact information from physical business cards and QR codes with high accuracy, while the personal CRM facilitates the management of these contacts, enabling users to maintain and nurture their professional connections. These products address common networking challenges, such as the inefficiencies of traditional paper business cards and the need for organized contact management. Covve primarily serves professionals and businesses across various industries, focusing on markets in North America and Europe, where there is a growing demand for contactless solutions in networking.Covve generated revenue of EUR 407,713.70 in the most recent year, which is 2022. The EBITDA for the same year was EUR -835,292.60. The company generates revenue through subscription-based models for its digital products and services, including offerings like the digital business card scanner and the personal CRM, which are available for individual users and business clients. The revenue structure is based on direct-to-consumer transactions, where users subscribe to a plan that grants them access to the full suite of features.Covve plans to expand its offerings with upcoming product releases that enhance digital networking capabilities. The company aims to enter new markets in Asia and South America by 2024, capitalizing on the growing trend towards digital solutions. The recent Seed funding of EUR 1 million raised in November 2019 will be utilized to develop these new products and support the planned geographic expansion.

## Funding rounds

- Seed, Nov 21, 2019, $1.1M — Metavallon VC

## Investors

- Metavallon VC (https://capitalatlas.ai/funds/metavallon-vc) — Seed