What happened: Spring/summer 2025
Michala Gregorová
The Czech Republic has introduced a new—excellent!—ESOP framework. Our gastrotech-focused team launched a new brand, Piano. And our podcast featured some truly outstanding guests. Where should we start?
Let’s begin this recap with the newly approved ESOP framework. At the end of June, the Czech Parliament passed a legislative amendment that, starting January 1, 2026, will introduce employee stock option plans (ESOPs) into Czech law in a form that could be truly practical and applicable for startups.
The change is the result of hundreds of hours of work by many individuals. Along the way, there were moments when it seemed more reasonable to abandon the effort altogether. Fortunately, there was always someone new—fresh or perhaps just idealistic enough—to reinvigorate the entire initiative and keep it moving forward.
So what do the changes involve? You can find a basic (Czech) summary here. And if you don’t feel like reading or would like a deeper understanding of the changes, listen to our interview with Lukáš Konečný. Also in Czech.
Significant developments have taken place — and continue to unfold — under the leadership of our gastrotech-focused team. The most notable of these is the launch of Piano, a new brand that unifies several already well-established projects. Under the name Piano, a group of technology companies has been formed, including, for example, Qerko and the Septim.
While these entities continue to operate independently, Piano represents a further step toward creating a compact, all-in-one solution for the hospitality and restaurant industries — one that simplifies and streamlines operations for business owners.
The group is led by Tomáš Mráz, former long-time Commercial Director at Pilsner Urquell. You can see his team in the opening photo of this article.
Grason (gastrotech)
We continue our overview of developments in the gastronomy sector with another important update. Grason, originally launched in 2018 as a platform for flexible staffing in the restaurant industry, is now entering a new phase. Miton has become its sole owner, acquiring 100% of the company, and Anna Pánková has been appointed as the new CEO.
Her task is to lead Grason in a new strategic direction — transforming it into a comprehensive solution for personnel management, tailored to the needs of restaurant owners.
You can read more here.
Aim (AI)
A business briefing agent that understands your context — and therefore knows exactly which information you need. It reads and listens on your behalf to the dozens of hours of podcasts you don’t have time for, eliminating the FOMO you feel because you know they contain valuable benchmarks.
You can read more about Aim and our investment on our blog or on EU-Startups.
Firefish (crypto)
A marketplace for bitcoin-backed loans has closed a seed funding round of $1.8 million. At MitonC, we first invested in Firefish in 2023. This year, the round was led by Braiins.
GTE (crypto)
A decentralized exchange aiming to compete with the likes of Coinbase and Hyperliquid has closed a $15 million Series A round led by Paradigm. At MitonC, we participated in GTE’s pre-seed and seed rounds.
Driveto (exit)
In the spring, we completed our exit from Driveto, a platform focused on operational car leasing. The company was acquired by its founder, František Peterka, in partnership with tibiQ Holding SE.
VOS.health (exit)
The mental health app VOS.health was also acquired. The news was covered in more detail by outlets such as Forbes.
Terap.io (exit)
The Slovak platform Ksebe has expanded into the Czech market through the acquisition of Terap.io. Both platforms offer online psychotherapy sessions, making their merger a logical and strategic fit.
Miton AI Newsletter (in Czech)
Published every two weeks, our AI Newsletter offers a clear and engaging summary that keeps you up to date—even if you don’t have time to follow other AI sources. You can subscribe to the newsletter here.
Alongside our regular editions, we have released several special reports, including:
- Vibe Coding: A comprehensive introduction to help you understand the essentials and launch your first vibe-coded project. This remains our most popular newsletter edition.
AI Agents: - AI agents: 1) An exploration of the history and theory behind the latest generation of software,
2) A step-by-step practical guide to creating your own AI agent using no-code and low-code platforms. - AI Trends by the Renowned Mary Meeker
- How to Use MCP: A hands-on guide designed to help you get started quickly and effectively.
Miton AI Times
A regular series fostering a growing community of primarily technical professionals, led by Tonda Hoskovec, Head of AI at GLAMI. Join the Meetup group to ensure you don’t miss upcoming sessions and events.
AI Investments within the Miton Portfolio
- Equilibre secured €11 million in funding to build the world’s leading algorithmic trading system.
- Our portfolio company, the furniture search engine Biano, has invested in Densy, an AI-powered platform designed for interior designers.
Miton AI Microsite
Visit miton.cz/ai to explore a comprehensive overview of our AI-related projects and initiatives.
Further AI reading
- Tomáš Čupr shares insights on AI in Vojta Žižka’s podcast, discussing its impact on Rohlík and his preferred AI tools (interview has English subtitles).
- Tomáš’s newsletter examines how AI is transforming corporate management.
Advancement in Psychedelic Legislation
Following developments in the Czech Parliament has proven worthwhile, not only due to ESOP considerations. A bill permitting the use of psilocybin for treating mental health conditions has successfully passed the Senate.
Founders Dinner at Forbina
The summer edition took place in a relaxed bar atmosphere. Feel free to browse the event photos.
Project Europe
Is building exceptional startups in Europe achievable? Definitely. What can be done to foster this? One notable effort is the newly launched Project Europe, which we proudly support. The initiative provides €200,000 to young entrepreneurs under 25 who commit to founding their startup in Europe.
Open Positions
- Tech researcher / AI scout
- M&A and Fundraising Analyst
- Curious and talented individuals to contribute to our portfolio of projects.
You can also read the previous summary here:
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Of further interest
Aim is building an AI agent for business briefing. It combats FOMO and information overload.
(press release) Imagine an AI agent whose task is to deliver exactly the information you need for your business. Only the most relevant bits, no matter how deep they’re buried in the internet, which language they’re in, or what format they take. This is precisely the kind of "personal business briefing" service the startup Aim aims to offer. Behind the project are Michal Najman and Miton.
Photo gallery from the founders dinner 2025
This year's summer Founders Dinner had a bar vibe and took place at Forbína. We'll save the outdoor party for the fall, when we celebrate our 25th anniversary.
Piano: A new group of technology companies helps hospitality businesses save time and increase their earnings
(Press release) A new brand is entering the Czech gastronomy sector, bringing together a number of already established projects. The group, called Piano, includes technology companies such as the popular startup Qerko and the respected POS system Septim. All projects under the Piano brand are part of the investment portfolio of the Miton group.