Marathon Venture Capital

28/01/2026

AI agents are moving from pilots to core enterprise infrastructure, introducing an entirely new security surface. These systems can be manipulated, leak sensitive data, or take destructive actions, often without human oversight. This isn’t theoretical, it’s already happening.

That’s why we’re excited to back Pallma AI, building the security layer for agentic AI systems. Founders Pavlos Mitsoulis and Dionysis Varelas bring experience from Expedia and Microsoft Gaming to secure this new class of risk.

We led Pallma AI’s $1.6M Pre-Seed with participation from leaders from AWS, Meta, Google, Hack The Box, Workable, and others. AI agents are here. Securing them is no longer optional.

Alex AlexakisJan 28, 2026Pallma AI raises $1.6m Pre-Seed to secure AI agentsThe enterprise AI landscape is undergoing a fundamental shift. We are at a technological inflection point where Large Language Models (LLMs) and their downstream implementations as autonomous AI agents are moving from pilot....

20/11/2025

We're excited to announce PolyModels Hub's $9m Series A round led by Molten Ventures with participation from Marathon!

PolyModels Hub is quickly becoming a must-have for bringing new medicines to market. With its technology, scientists and engineers can design, test, and improve drug development processes faster and more efficiently using data and automation.

It has already earned the trust of four of the world’s top ten pharmaceutical companies and delivered measurable results across several blockbuster programs, helping biopharma save time, save hundreds of millions per drug, and deliver better medicines.

Read more on our blog:

Alex AlexakisNov 20, 2025PolyModels Hub Raises $9m to Build Biopharma’s Digital BackboneWe first invested in PolyModels Hub in June 2024 as their sole investor to address a critical bottleneck in biopharma. After scientists have identified a target molecule for a new therapy, a vital but often ove...

03/07/2025

2025 H1 Greek-Founded Startup Figures are in!

59 new funding announcements totalling over $1.8 billion, while 8 companies got acquired.

In the first half of the year, startups with operations in Greece raised 36 rounds totalling over $100m, 28 of which were at Seed stage.

Find out more and stay tuned with the latest developments in our live dashboard:

https://marathon.vc/reports/ecosystem

07/05/2025

Since 2007, we have been on a mission – to bring our founder community together, and help build world-class technology companies. We founded some of the first startups in our home ecosystem, nurtured a community around them, raised the first venture capital funds, and delivered the first successful exits.

In 2017 we launched Marathon Venture Capital Fund I to go even further beyond – and we have been humbled by what followed! We have been privileged to work from day one with exceptional founders, solving some of the hardest problems out there – with a resounding success.

They went on to serve the most demanding customers on earth, employ thousands of super talented people, raise hundreds of millions in follow up capital and create a lasting impact on their markets and our community at large. As a matter of fact, they also helped us along the way to establish Marathon as a top tier performer in global venture based on realised returns.

Today, we are excited to announce Marathon Venture Capital Fund III! We raised €75 million in an oversubscribed single closing, and we are grateful for the extended trust of our backers, including EIF and HDBI. We are now in turn making such an amount available to ambitious founders building the future – just like you.

We love being the first money in and work on non-consensus opportunities; we hope our portfolio speaks for itself. Plus, as our community has been taking us places – with half of our investments originating beyond Greece, typically across Europe – we really look forward to where it will take us next.

We are equally excited to share that Alex Alexakis is now a Partner at Marathon! Alex has been the voice of our community for the last five years, helping founders meticulously craft their vision, and earning his place as the go-to person for the next generation of entrepreneurs. We could not be happier for him and are eager to continue building Marathon together.

For a team that started out of an unlikely place, the above are no small feat. More importantly, as the adoption of technology accelerates and experience across our community accumulates, our ambition is getting stronger – and we are just getting started!

Now, let's get back to work – if you are building something great, drop us a line, we'd love to chat.

16/01/2025

We're excited to lead a €1.6 million seed round in Progressive Robotics, founded by Fotis Dimeas and Marios Kiatos, to transform industrial automation with its AI-powered, no-code software platform!

Progressive Robotics removes the barriers to robotic programming and pushes the frontier of new applications, bringing Amazon-like robotics capabilities to SMEs, empowering them with the same level of efficiency and innovation traditionally reserved for large enterprises.

Their software enables faster operations across diverse industry needs, as demonstrated in first customer production installations spanning food production to pharmaceuticals.

In a very short time, they have forged partnerships with leading robotic OEMs, ensuring seamless integration with their hardware platforms. These collaborations not only validate the company's technology but also amplify its market reach.

Read more below:

Panos PapadopoulosJan 16, 2025Streamlining Industrial Robots Applications with Progressive RoboticsThe manufacturing and logistics industries are at a critical juncture. Labor shortages, rising costs, and the increasing demand for efficiency have highlighted a persistent challenge: the complexity an...

10/01/2025

We released our annual report with key highlights and aggregate figures from the investments and exits in Greek-founded startups in 2024

- Total funding amount raised surpassed $1.3B
- 12 acquisitions, including the largest for a tech company in Greece ever
- Less companies raising Series A, but Seed and Growth remain strong

Head on over to our blog post for a closer look:

Alex AlexakisJan 10, 2025Greek Startups: Funding Rounds & Exits, 2024As 2025 kicks off, it's a moment to reflect on a year when investment activity regained its footing. Overall startup funding levels in 2024 edged higher than in 2023 for Greek-founded startups, surpassing $1.3B – a welcome sign o...

01/10/2024

2024 Q3 Greek Startup Figures are in!

A very active quarter in new funding announcements with 30 rounds totalling over $360 million.

After a correction in the second half of 2022 and the first half of 2023, the market is going back to normal, with pretty much all figures already surpassed or on track to surpass 2023 performance in 2024!

Stay tuned with the latest developments in our dashboard:

Marathon Venture Capital is a seed-stage fund, helping ambitious Greek founders build world-class technology companies.

12/09/2024

Excited to see Connectly raising a $20m Series B round led by Alibaba to accelerate AI-powered conversational commerce

Big congrats to the team!

Connectly.ai, a startup using AI to personalize text messages from brands, has closed a new fund round led by Chinese tech giant Alibaba.

09/07/2024

We’re excited to share our latest investment, a £1.1m Seed in PolyModels Hub, a company that digitalizes drug development to help pharma deliver breakthrough therapies to the market faster than ever before!

Read more on our blog:

Alex AlexakisJul 09, 2024Building the Digital Backbone for Pharma Process DevelopmentThe pharmaceutical industry is changing. Technological and scientific advancements have led to new types of therapies, a rise in biotechnology, and a rapidly evolving regulatory landscape. To thrive in this market,....

11/06/2024

We're excited to lead DataForm Lab's $1.1m Seed to drive automation in offsite manufacturing!

Offsite manufacturing, i.e. assembling buildings in factories, rather than on-site, is an emerging trend that promises housing that is cheaper and faster to build, without compromising on quality. A substantial part of new housing across big parts of the world is increasingly built offsite.

Moving construction to factories provides a ripe opportunity for putting automation to work. To date, however, leveraging such remains a far cry from reality. Even in some of the most advanced offsite manufacturers, robots and digital transformation are nowhere to be seen.

Founded by Eva Magnisali, DataForm Lab provides a modern operating system for offsite manufacturing, serving as the automation partner of choice to help manufacturers accelerate their digital transformation roadmap and deliver on their promise to achieve unprecedented efficiencies in construction.

The company is already working with some of the most prominent offsite manufacturers worldwide. Today, it announces the completion of a GBP 1.1M Seed round led by Marathon.

Read more:

George TziralisJun 11, 2024Dataform Lab Raises Seed to Drive Automation in Offsite ManufacturingConstruction is one of the largest industries in the economy – its size is measured in GDP terms. However, it remains a laggard in the adoption of automation. Our houses are still being manually 'constr...