Geek Ventures led a $700k pre-seed round for datatech and AI startup Spike

Established by Ukrainian Vadim Rogovskiy and Belarusian Ihar Mahaniok, Geek Ventures venture capital fund led the $700,000 funding for the US datatech and AI startup Spike. CEAS Investments, APX, and some business angels also joined the round.

• Spike is a B2B data technology and AI startup founded in 2022 and headquartered in Palo Alto, California. It provides API aggregation, data pipeline management (ETL), and an AI-backed solution to empower health data from wearables and IoT devices.
• Spike allows companies to easily integrate biomarker data from 200+ wearable sensors and IoT devices into their applications, the startup says. It services clients in the digital health, professional fitness, insurance, and automation sectors.

“Wearable sensors are becoming much smaller, more accurate, and accessible to a broader user base. Our solution helps digital health companies easily integrate biosensors data, process it, and apply AI models. Developing this tech in-house is complicated, expensive, and resource-heavy. Spike aims to make this data management journey effortless and open opportunities to the next-generation healthcare and disease prevention,”

said Povilas Gudzius, co-founder and CEO of Spike.

• Spike’s pre-seed funding round was led by venture capital fund Geek Ventures. It was launched in December 2021 by the Belarusian angel investor Ihar Mahaniok and the founder of 3DLOOK company Vadim Rogovskiy. The fund is registered in the USA.
• The amount of Geek Ventures investment is not reported. However, as known to AIN.Capital, Geek Ventures usually invests up to $200,000 in the first round and may subsequently increase the amount of funding to $1 million in the following ones.
• Other backers include Florida-based CEAS Investments and APX, an early-stage investor based in Berlin and backed by Axel Springer and Porsche. Angel investors from Austin, Texas, NYC and Silicon Valley also participated in the round.