About Reflex Capital
Reflex Capital is a venture capital firm founded in 2012. It is primarily based out of Prague, Czech Republic. As of Jun 2026, Reflex Capital is an active investor, having invested in 54 companies, with 2 new investments in the last 12 months. It primarily invests in Seed round in Czech Republic based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Retail and High Tech. Most recently it participated in the $***** Seed round of Grid Online Overall, Reflex Capital portfolio has seen 1 unicorn and 6 acquisitions including key companies like Productboard, Apiary and Webnode. A lot of funds co-invest with Reflex Capital, with names like J&T Ventures sharing a substantial percentage of its portfolio. Reflex Capital has team of 6 people including 4 partners.Key Metrics
Team Members
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Seed, Series A & 1 more
Portfolio Unicorns
Portfolio Soonicorns
Deals in last 12 months
Reflex Capital's List of Top Investments
Reflex Capital has a portfolio of 54 companies, one of which is a Unicorn. Their most notable investments are in Dotidot and DAVINCI travel system.Their portfolio spans across Czech Republic, United States, Germany and 4 more locations. They have invested in Enterprise Applications, Retail, High Tech and 22 other sectors, across stages such as Seed, Series A and 1 more. Here is the list of top investments by Reflex Capital:1. Supernova
Provider of an AI-powered platform for product design and development. The platform offers collaborative AI prototyping, design systems documentation, and code automation. It facilitates the conversion of designs into product specifications and enables connection to existing tooling. The platform also provides design system management and AI-powered assistance for answering questions.
Key facts about Supernova
- Founded Year: 2016
- Location: Prague (Czech Republic)
- Stage: Series A
- Total Funding till date: $22.2M
- Employee Count: 77 as on Jul 31, 2026
- Investors: EQT, KAYA and 8 Others
- Latest Funding Round: Series A, Sep 30, 2025, $*****
- Highlight: Editors' Pick
2. Pricefx
Platform offering cloud and AI based pricing management software. It provides full suite price management and CPQ solutions for businesses. It offers PriceAnalyzer, which provides a set of analytical functionality to identify margin and price opportunities, PriceOptimizer, which performs data profiling and generates segment specific optimized pricing and price guidance, PriceBuilder, which supports price policy definition, setup of price guidelines, and calculations and simulations of gross, special and net prices, PromotionManager, which allows the definition and management of on invoice conditions, and QuoteConfigurator, which provides solutions for quote configuration as well as calculation and simulation. The clients include Ahlsell, Amag, Amcor, Bosch, Danone, Michelin, and more.
Key facts about Pricefx
- Founded Year: 2011
- Location: Pfaffenhofen (Germany)
- Stage: Series C
- Total Funding till date: $131M
- Employee Count: 379 as on Jul 31, 2026
- Investors: Bain & Company, Credo Ventures and 7 Others
- Latest Funding Round: Series C, Jul 14, 2020, $*****
- Highlight: Editors' Pick
Alice Technologies is a provider of AI-based construction planning software. Features include construction planning, scheduling, task management, cost management, and more. Additionally, it also provides information about crew size & types, equipment management, calenders, construction material, and more. The company's clientele includes Mortenson, DPR construction, BI Group, and AF Gruppen.
Key facts about Alice Technologies
- Founded Year: 2013
- Location: San Francisco (United States)
- Stage: Series B
- Total Funding till date: $68.4M
- Employee Count: 96 as on Jul 31, 2026
- Investors: Rising Tide Fund, Vanedge Capital and 22 Others
- Latest Funding Round: Series B, Apr 11, 2023, $*****
- Highlight: Editors' Pick
4. Byrd
Byrd is a provider of fulfillment networks for e-commerce solutions. The platform offers a fulfillment network that connects online merchants with international warehouse networks, enabling retailers to offer multiple shipping options on an international scale. Its tech-driven logistics solution uses digital interfaces to connect e-commerce systems to its warehouse management system, which is used by partner warehouses internationally. In addition, it offers individual services such as returns management, cash on delivery, oversized shipping, increased insurance, express shipping, etc.
Key facts about Byrd
- Founded Year: 2016
- Location: Vienna (Austria)
- Stage: Series C
- Total Funding till date: $81.3M
- Employee Count: 122 as on Jul 31, 2026
- Investors: Venture Friends, Mouro Capital and 17 Others
- Latest Funding Round: Series C, Jun 22, 2026, $*****
- Highlight: Editors' Pick
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5. Apify
Provider of web scraping platform and marketplace for data extraction tools. The company offers a full-stack environment where developers create, deploy, and monetize reusable web scraping and automation tools for popular sites and general websites. Tools support JavaScript, Python, Playwright, Puppeteer, and other frameworks with features including proxy rotation, headless browsers, data export, API access, scheduling, and integrations with automation platforms, spreadsheets, and LLM ecosystems. Enterprise capabilities include compliance certifications, high uptime, custom professional services, and scalable infrastructure for production data extraction workflows.
Key facts about Apify
- Founded Year: 2015
- Location: Prague (Czech Republic)
- Stage: Seed
- Total Funding till date: $2.98M
- Employee Count: 231 as on Apr 30, 2026
- Investors: Reflex Capital, J&T Ventures and 1 Other
- Latest Funding Round: Seed, Apr 15, 2024, $*****
Reflex Capital's Year-on-Year Investment Trends
Reflex Capital has invested in 54 companies over the last 12 years, with an average of 2 new investments annually in the last 10 years. In 2025, it made 2 investments, while as of Jun 2026, it has made 4 investments in this year. Its most recent first time investment was in Merchantee and most recent follow-on round was in Grid Online.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 1 | 3 | 4 |
2025 | 2 | 0 | 2 |
2024 | 3 | 1 | 4 |
2023 | 0 | 2 | 2 |
2022 | 2 | 1 | 3 |
2021 | 4 | 0 | 4 |
2020 | 1 | 1 | 2 |
2019 | 1 | 2 | 3 |
2018 | 2 | 1 | 3 |
2017 | 4 | 0 | 4 |
Reflex Capital's Investments by Stage
Reflex Capital has made 18 investments in Seed stage with an average round size of $2.1M, 3 investments in Series A stage with an average round size of $7.65M and 1 investment in Series B stage with an average round size of $19M.Stage of entry | No. of Investments |
|---|---|
Seed | 18 |
Series A | 3 |
Series B | 1 |
Note: We have considered here, only first round of investments
Reflex Capital's Investments by Sector
Reflex Capital has a diverse portfolio, with companies operating in the Enterprise Applications, Vertical SaaS, Consumer, Enterprise Infrastructure and High Tech. Notably, it has invested in 42 Tech companies, 33 Enterprise (B2B) companies, 32 Software companies and at least 20 companies focusing on Saas.Sector | No. of Investments |
|---|---|
Enterprise Applications | 17 |
Vertical SaaS | 4 |
Consumer | 3 |
Enterprise Infrastructure | 2 |
High Tech | 2 |
Others | 17 |
Note: We have considered here, only first round of investments
Reflex Capital's Investments by Geography
Reflex Capital has made most investments in Czech Republic (13), followed by United States where it has made 3 investments.Country | No. of Investments |
|---|---|
Czech Republic | 13 |
United States | 3 |
Slovakia | 2 |
United Kingdom | 2 |
Austria | 1 |
Others | 1 |
Note: We have considered here, only first round of investments
Reflex Capital's recent investments
Reflex Capital has made 4 investments in 2026 so far. Grid Online and Merchantee are the latest among them.Here are the most recent investments by Reflex Capital:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jun 22, 2026 | Czech Republic | Seed | 5226 | [+2] | |
Jun 09, 2026 | Slovakia | Seed | 1460 | [+1] | |
May 19, 2026 | Czech Republic | Series A | 9539 | [+4] | |
Mar 16, 2026 | Czech Republic | Series A | 7879 | ||
Sep 30, 2025 | Czech Republic | Series A | 8896 | [+6] |
Unicorns in Reflex Capital's Portfolio
Reflex Capital has 1 unicorn in its portfolio - Productboard. The most recent unicorn in their portfolio is Productboard which became a unicorn in 2022, 5 years after Reflex Capital first invested in it.Here is a list of unicorns in Reflex Capital's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
53 | Developer of a platform for product management and customer feedback | 2014 | Oakland | Series D | cizdgaa |
Acquired companies in Reflex Capital's Portfolio
6 companies from Reflex Capital's portfolio have been acquired. The most recent acquisition was Avocode in Oct 2021 by Ceros for $*****.Here are Reflex Capital's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Oct 20, 2021 | - | - | 5425 | |
Dec 10, 2020 | - | - | 1211 | |
Nov 16, 2020 | Jun 20, 2018 | Seed | 1449 | |
May 16, 2019 | Feb 19, 2014 | Seed | 4223 | |
Nov 15, 2018 | - | - | 7985 |
Team profile of Reflex Capital
Reflex Capital has a team of 6 members including 4 Partners located in Czech Republic. Reflex Capital's team does not sit on the board of any company as of now.Here is a list of all team members in Reflex Capital:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | Prague | |||
Partner | Prague | - | ||
Partner | Prague | - | ||
Partner | Prague | - | - |
Co-investors of Reflex Capital
Over the past 12 years, 78 investors have co-invested in Reflex Capital's portfolio companies. This includes funds and angels.
- Invested before Reflex Capital: Y Combinator, Wing Venture Capital and 16 others have invested in rounds before Reflex Capital. There is 1 company where Y Combinator has invested before Reflex Capital and 1 company where Wing Venture Capital has invested before Reflex Capital.
- Top Co-investors of Reflex Capital: 30 investors entered a company along with Reflex Capital. These include investors like J&T Ventures (6 companies).
- Invested after Reflex Capital: A total of 30 investors have invested in Reflex Capital's portfolio after their investments. Top Investors include Venture to Future Fund (2 companies), Bain & Company (1 company) and Yttrium (1 company).
Recent News related to Reflex Capital
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Merchantee Raises €1.8M in FundingFinSMEs•Jun 09, 2026•Merchantee, Czech Founders, Lighthouse Ventures, Reflex Capital
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Choice startup raises $7.1 million to develop restaurant digitalization platform, plans to open operational hub in BucharestBusiness Review•Mar 16, 2026•Smartlink Partners, Alea Capital Partners, Choice, Reflex Capital and 1 other
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Startup Choice Raises $7.1 Million, Focuses on Poland as Largest MarketMy Company Polska•Mar 16, 2026•Alea Capital Partners, Smartlink Holdings, Choice, Reflex Capital and 2 others
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Supernova Raises $9.2M Series A FundingFinSMEs•Sep 30, 2025•KAYA, EQT, Supernova, Taiwania Capital and 6 others
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FaceUp raises $3M to scale HR platform globallyTech.eu•Oct 10, 2024•FaceUp, Reflex Capital, Tilia Impact Ventures, European Investment Fund and 1 other
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Prague-based Product Fruits secures €1.47 million to grow its AI-driven digital adoption platformEU-Startups•May 29, 2024•Product Fruits, Reflex Capital, Lighthouse Ventures, LVRG and 1 other
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Prague's Product Fruits secures $1.6M for AI-powered customer onboarding platformTech.eu•May 29, 2024•Product Fruits, Venture to Future Fund, Lighthouse Ventures, LVRG and 1 other
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Apify secures investment of EUR 2.8 millionStartbase•Apr 15, 2024•Apify, J&T Ventures, Reflex Capital
