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Prague-based Duvo raised a $32 million Series A led by Balderton Capital to bring its enterprise AI platform for retailers and consumer goods firms to the US.
Key Takeaways
- Duvo raised a $32M (about €28.7M) Series A led by Balderton Capital on October 14, 2026.
- Total funding reaches $48M; Index Ventures, Northzone and Credo Ventures also took part. Valuation is undisclosed.
- Proceeds go mainly to US sales, marketing and partnerships, starting with retail and consumer goods.
Lead
Duvo, the Prague startup founded by Rohlik Group chief executive Tomáš Čupr, announced a $32 million Series A on October 14, 2026. Balderton Capital led the round, with existing backers Index Ventures, Northzone and Credo Ventures participating. The company did not disclose a valuation.
The raise follows a $15 million seed round announced in December 2025. Duvo now has total funding of about $48 million and almost 60 employees, up from roughly 15 at the seed stage. The company is co-founded by Čupr, Marek Paris and Martin Pecha.
What Does Duvo Actually Sell?
Duvo sells what it calls an "Enterprise Execution OS": AI agents that carry out back-office operations work inside a customer's existing systems. The agents operate across ERP software, supplier portals, spreadsheets and email inboxes, which is where much of retail's routine work still happens.
The first layer is Duvo Clarity. It maps how employees actually do their jobs using AI-led interviews, screen recordings and existing documents, and it surfaces exceptions that were never written down. Once a process is approved, the agents execute it. The company says a first process can go live within weeks.
The architecture is model-agnostic, and Duvo lists SOC 2 Type II, ISO 27001 and ISO 42001 certifications. Those matter for large retailers that must pass security reviews before any agent touches supplier or pricing data.
Who Is Using It, and With What Results?
Customers include Notino, Morrisons, Holland & Barrett, Boden and Allegro, along with Rohlik, the online grocer Čupr founded. The one detailed case is Notino's quarterly supplier bonus reconciliation. It fell from 70 days to 15, and specialist time per cycle dropped from about 120 hours to under 10.
Duvo also says its platform has unlocked more than $100 million in annualized impact for clients. That figure is the company's own and has no independent verification. It also measures customer value rather than Duvo's revenue, which the company has not disclosed.
Why Did Balderton Lead This Round?
Balderton partner Rob Moffat has said getting AI agents to work reliably across an enterprise "remains difficult," and that feedback from customers and consultancy partners has been "off the charts positive." The investor is betting that Duvo's process-discovery step is what separates it from agent projects that stall after a pilot.
That pitch addresses a documented problem. Gartner forecasts that more than 40% of agentic AI projects will be cancelled by the end of 2027, mostly because of rising costs. Čupr's framing is that the gains come from work nobody had the hours to do, which he calls "raising the GDP of every employee," rather than from cutting headcount.
The round also says something about the last one. A team that grew from 15 to almost 60 people in under a year, and moved from a $15 million seed to a $32 million Series A in about ten months, has shown enough customer pull to justify a larger check. Without disclosed revenue or valuation, the investor appetite is clear but the pricing is not.
What Changes With the US Push?
Duvo is moving from a European customer base to the American market, and it is hiring to do it. Michael Green, previously at Databricks and Salesforce, joins as chief commercial officer. Spencer Insolia, a former Kmart president and Accenture managing director, becomes US managing director.
Čupr has said the company is "starting in the U.S. with retailers and consumer goods companies." The vertical focus is deliberate. Retail operations share recurring pain points such as supplier reconciliation, promotions and inventory exceptions, so one process template can be reused across many customers.
The competition is crowded. Established automation vendors and the enterprise software suites are adding agent features, and a wave of AI startups is targeting the same back-office workflows. Duvo's edge rests on retail-specific operating knowledge, which Čupr gained from running Rohlik.
Outlook
Duvo has fresh capital, a recognizable investor lead and named European retail customers, but no public revenue or valuation figures. The US entry will test whether results like Notino's repeat with American retailers that have different systems and procurement habits. A larger Series B would likely hinge on disclosed revenue growth and on whether early deployments expand beyond their first process.
