We are really happy to share the news of our Startup Incubator Narva startup CAV Solution who has just recently solf the world’s first NFT (Non-Fungible Token) stock CAV Solution Ltd and Curitas Ventures AB signed their first ever Contract Note, where the object of transfer was NFT Token No. 00001, representing an undisclosed number of shares in the start-up CAV Solution Ltd. The investment amount and shares of the company being sold are being kept confidential, but both parties are very excited about the approach and trust they have in the partnership. The NFT token was auctioned off on the OpenSea platform and received significant interest and attention.

Both parties are excited about the out-of-the-box approach

The buyer was the Swedish VC, Curitas Ventures, led by Gerda Larsson. “We love seeing innovative companies thinking outside the box when it comes to fundraising and product development. CAV Solutions shows innovation in their way of thinking, the way they create awareness around the product and the approach in their financing round. We look forward to seeing what lies ahead for them,” says Gerda Larsson.

The company specializes in age verification service innovation

CAV Solution specializes in age verification services for customers. The European start-up has developed an age verification add-on module for vending machines worldwide. The module makes operators more competitive with traditional retailers, which have the ability for an on-site clerk to check consumers’ age. The module’s uses are not limited to vending machines; it can be used as an identity verification device for KYC compliance on the spot. “It also enables operators to expand into age-restricted sales. What’s most important – the solution does not allow sales of age-restricted products to minors! It is a huge problem worldwide that children have the chance to purchase products harmful to their health,” says CAV Solution’s CCO Juri Tarassenkov. Verification is simple and consists of two steps – the customer looks into the camera and puts their document in the document tray, after which a notification is provided about whether the verification was successful or not. After processing, all the data is deleted. The module checks if the document is authentic, the person’s date of birth and whether the person in front of the camera is the person in the document photo. Clients from the US, EU, UAE and Asia have already connected with the sales team and are waiting to get their first module for testing.

CAV Solution grew out of the Tehnopol Startup Incubator Narva program

CAV Solution is one of the first start-ups that participated in Tehnopol Startup Incubator’s growth programme in Narva. The practical programme prepares early-stage technology start-ups to become investment ready and connects them with potential investors. “The Startup Incubator was our first partner with whom we signed a contract. The incubator played a crucial role in mentoring shareholders and supporting them with advice and experience,” says Dmitri Pimenov. “The programme lead, Olga Kurdovskaja, has been very supportive. She is always ready to cooperate, offer her support and bring together new companies and possible partners. We are always informed of new programmes and opportunities that the incubator has to offer. We consider Tehnopol’s Startup Incubator to be our vital partner.”