Lithuanian marketplace Traxlo raises €1.6M to transform labor market with AI-powered task platform

Traxlo, a Lithuanian platform which transforming physical labor into verifiable tasks, has raised €1.6 million from Coinvest Capital, BADideas.fund, Plug and Play, NGL, DEPO Ventures and participation of existing investors. 

About Traxlo

• Traxlo, founded in 2020 is the operator of grocery store tasks and staff marketplace Tasku.app. The company’s platform connects businesses with local workers via its app, Tasku, and soon will be powered by AI to automate task creation and verification using large language models (LLMs) and computer vision. 

• This model enables businesses to purchase guaranteed results, while workers enjoy flexible hours and weekly pay. Traxlo collaborating with major European retailers like REWE Group and Zabka. 

Investment details

The round was backed by Coinvest Capital, BADideas.fund, Plug and Play, NGL Ventures, DEPO Ventures and participation of existing investors Iron Wolf Capital, Antler and others.

• Coinvest Capital is an early-stage venture capital fund established by Lithuania’s national development institution, Investicijų ir Verslo Garantijos (INVEGA). The fund invests public capital entrusted by the EU and the Republic of Lithuania. Its recent portfolio includes Astrolight, Commody, Airvolve and Pixevia.

• BADideas.fund is a venture capital fund based in Latvia, focusing on early-stage startups in Central and Eastern Europe (CEE). It primarily invests in B2B and marketplace companies with global ambitions. The fund offers initial investments ranging from €50,000 to €250,000, with potential follow-on funding up to €1.5 million.

The startup will use the funds to expand its pay-per-task labor infrastructure across Central and Eastern Europe, with launches underway in the Czech Republic and Romania.