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Prague-based Duvo raised a $32M Series A led by Balderton Capital to take its back-office AI agents to US retailers and consumer goods brands.
Key Takeaways
- Duvo raised a $32M (€28.55M) Series A led by Balderton, announced October 14, 2026.
- Index Ventures, Northzone and Credo Ventures joined; total funding reaches $48M.
- Valuation was not disclosed. Proceeds go mainly to US sales, marketing and partnerships.
Lead
Duvo, an enterprise AI company based in Prague, announced a $32M Series A on October 14, 2026. The round, equal to €28.55M, was led by Balderton Capital, with existing backers Index Ventures, Northzone and Credo Ventures participating. Total funding now stands at about $48M (€43M).
The company was founded by Tomáš Čupr, who also founded the online grocer Rohlik Group and still serves as its CEO. Duvo did not disclose a valuation or revenue figures. Its seed round, worth a reported $15M, was announced in December 2025, which puts the Series A roughly ten months after the first cheque.
What Does Duvo Actually Sell?
Duvo sells software that maps how employees do operational work and then hands approved steps to AI agents. Its product, an "Enterprise Execution OS", includes a module called Duvo Clarity. Clarity builds process maps from AI-led interviews, screen recordings and existing documents, and it picks up the exceptions that nobody wrote down.
The agents then execute across ERP systems, supplier portals, spreadsheets and inboxes. Čupr has framed the pitch as a layer on top of existing software rather than a replacement. "We're not claiming to replace underlying systems. ERP and warehouse management systems still have their place," he said, describing the product as an abstraction over their messy interfaces.
The target is work that falls between systems: finance reconciliation, supply chain exceptions, customer care, marketing and HR tasks. Duvo claims it has unlocked more than $100M in value for clients across those functions. That figure is the company's own and has not been independently verified.
Who Is Backing and Using It?
Duvo lists Notino, Morrisons, Holland & Barrett, Boden and Allegro as customers. Rohlik, where the idea originated, is also a customer, and Čupr uses the grocer as a proving ground for the product. Rohlik was valued at roughly $2B after its 2021 unicorn round and raised $170M in 2024.
The investor roster is largely a repeat of the seed table. Balderton moves in as lead, while the three existing investors stay in. That pattern suggests insiders saw enough traction to follow on, though without disclosed revenue or valuation, the strength of that signal is hard to measure. Čupr's earlier exits, including the sale of food-delivery service Dáme jídlo to Delivery Hero in 2014, give investors a track record to weigh in place of metrics.
Why Is Duvo Heading to the US Now?
Duvo is going to the US because retail and consumer goods are the sectors Čupr knows best, and the US is the largest market for them. "We're starting in the U.S. with retailers and consumer goods companies, because that's the work we know best," he said. Most of the new money will fund sales, marketing and partnerships.
The company has begun building a local team. Michael Green, previously at Databricks and Salesforce, joins as SVP of go-to-market. Spencer Insolia, a former Kmart president and Accenture managing director, becomes managing director for the US. Headcount has grown from about 15 at the seed stage to roughly 60-70, depending on the count.
How Crowded Is the Field?
The field is crowded. Enterprise AI agents for operations are being pitched by large incumbents, workflow-automation vendors and a wave of well-funded startups, and many buyers report pilots that never reach production. Duvo's answer is process discovery first, automation second. Mapping undocumented work before automating it targets the usual reason pilots stall, but it also lengthens the sales cycle and adds services-like effort.
A US retail customer base also means competing against entrenched ERP vendors and consultancies on their home turf. Reference customers in the UK and Central Europe help, yet US buyers will want proof at American scale.
Outlook
Duvo has moved from seed to Series A in about ten months with a tier-one European lead and full insider participation. The next test is whether European retail references convert into US contracts under a newly hired local team. Disclosed revenue, retention figures or a valuation at the next round would show whether the $100M value claim translates into recurring sales.
