Since its inception, Vespucci Partners has focused on connecting Hungarian startups to the US market, thereby providing them with greater business opportunities and additional capital. Even with the completion of the HUF 7 billion investment, the success of the Transcend H20 demonstrates that it is this operating model that provides opportunities for the region’s experience and the startup ecosystem in the long term.
The key thing to know about the company is that its market-leading generative design software, Transcend Design Generator (TDG), fully automates the conceptual and preliminary design of critical infrastructure facilities.
allowing utilities to reduce costs and planning time and prioritize the use of innovative and sustainable technologies.
Transcend’s development team, about 60 people, is based in Hungary. They have created a product that seems to be fundamentally rewriting how the industry works. Sales and management are carried out at the American headquarters in New Jersey, where the company currently has 15 people. The current capital raising provides an opportunity for further growth, the number of employees in both countries continues to expand, so there are many new opportunities here as well.
For real success, you need to go to the USA
Julija Sohaida, one of Vespucci’s founding partners and portfolio manager at Transcend, stressed that Hungarian startups can only truly succeed if a bridge is built between Hungarian startups and the US market.
Our goal is to provide brilliant Hungarian innovations with a path to the Mecca of the start-up market – the USA. More and more people see this, but it is very difficult to start this path alone. We support this process not only with capital, but also with active assistance and partnership. Transcend’s success confirms that we are on the right track and can achieve world-class success.
According to Yulia Sohaida, they invested in the company 3.5 years ago for two reasons. “They have come up with a truly unique, hard-to-replicate infrastructure planning solution that has a global market. The opportunity for growth and the power of unique innovations were visible at the same time that the market was just waiting for the arrival of automation,” said the expert, noting that they have provided a real answer to this global market demand.
He added that the second and more important reason was that they saw that this team could achieve what they had to do based on their huge potential. “The most important factor is always the team, it all depends on the people. And we saw the fire in this team to succeed at any cost. So it was.”
Billion dollar company value before Transcend
By the way, professional databases have already labeled Transcend as “Sunicorn”, indicating that they think it will soon reach the unicorn phase, so the value of its company will be at least $1 billion (approximately 354.3 billion forints). Current investments
- Autodesk Inc.,
- PureTerra Ventures,
- HG Ventures,
- by Riverstone Holdings LLC
- and was created with the participation of Arosa Capital.
According to the website of the HUF 7 billion startup, TDG combines technological, mechanical, electrical and construction calculations and solutions to automatically generate complete and accurate preliminary engineering plans for various water and power infrastructure projects.
Documents generated by the software include 3D building information modeling (BIM) models, environmental impact assessments, equipment lists, operating and capital cost calculations, and more.
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