Mila AG raises $2M in pre-series A round led by German-based Born2Grow Ventures.

Zürich, Switzerland (31 May, 2022) – Mila AG, the European leader of on demand technical support, announced their successful pre-Series A round of $2M led by early-stage investment fund Born2Grow GmbH & Co. KG. The funding follows Mila’s successful management buyout from Swisscom in October 2020. Geneva-based Alpana Ventures and Silicon Valley-based Oriza Ventures also participated in the round. Mila has over 11,000 vetted and trained technicians and operates in Germany, Switzerland, the UK, France, and Austria.

“Mila has a clear strategy in terms of opening up international markets and has already
demonstrated success with its financial results,” says Andrea Muth, investment manager of
Heilbronn-basedBorn2Grow. “Mila has created market entry barriers in the tech support market that are extremely difficult for new providers to open up. These competitive advantages excite us and convinced us to invest in the platform and in the management team.”

Born2Grow boasts a diverse portfolio that has one consistent focus: to find a team and
technology whose technology has a well-defined market.

Mila has offices in Berlin and Zürich, and recently opened its first UK location in London. They have seen growth in services for brands such as Amazon, Otto, BOSCH, Netgear, LEDVANCE, and will introduce EV charging station installations in Germany and the UK in Q2.

“We recognized the tremendous growth potential for Mila in Germany and the scalability of their business model to expand across Europe and on a global scale,” says Alex Liang, co-founder of Silicon Valley-based Oriza Ventures. “We see our investment as strategically-timed for demonstrable growth in both Germany and the UK, countries where Mila’s professional services are in high demand.”

With the IoT connectivity standard MATTER release date targeted for fall 2022, Mila is poised to be a pivotal player as connected device adoption explodes – bringing with it interoperability issues with existing devices. Through the Mila Academy, trained, vetted Mila Pros allow global brands to offer a third-party agent to install, configure, and ensure their technology is operating, integrated, and performs as designed.

“As an early-stage investment firm, we recognized the growth potential of Mila during the
Swisscom management buyout,” says Pascal Widmer, founding partner of Alpana Ventures.
“Chris has demonstrated a strategic leadership ability and understanding of the European on demand market through the solid growth we’ve seen over the last 18 months in Mila’s European markets and their burgeoning portfolio of global enterprise partner brands."

###

About Mila
Since 2016 Mila has delivered real-time, vetted, on-demand neighborhood tech support.
Mila expanded from Switzerland into new markets through a network of strong retail and
enterprise partnerships, offering services in Germany, Austria, France, and the UK. With
over 40 enterprise partners, Mila is the European leader of on demand, crowdsourced
technical support. For more information please visit www.mila.com/en-ch.

About Born2Grow
Born2Grow is a Heilbronn-based and internationally active seed fund concentrating on
investments in fast-growing start-ups in advanced technologies such as life sciences,
artificial intelligence and machine learning, internet of things, new materials, hardware and
robotics. The fund supports these companies with capital, know-how, and its extensive
network. Born2Grow is a part of the Heilbronn family office Zukunftsfonds Heilbronn
(ZFHN), which has been investing in technology-related start-ups and companies with
strong growth in Europe, Israel, Asia and the USA for almost 20 years.