Karaoke Club Vol 1 · 27 companies · August 2026
Portfolio traction map
Every Vol 1 company placed by how far its commercial traction has actually travelled, against roughly how much capital it has taken in. The vertical axis is deliberately banded, not exact. Hover or tap a dot for the reasoning behind its stage.
Stage is a judgement on commercial traction only: paying customers, recurring revenue and its growth. Capital raised, cash position and runway are shown on the vertical axis but play no part in where a dot sits horizontally.
2025 vintage
2026 vintage
Counts
How to read it
- Horizontal: five ordered traction stages, evenly spaced, from no revenue at all to roughly €1M ARR and above. Where a company sits inside a column is meaningful for a few of them, marking early in a stage or right at its upper edge; otherwise position inside the column only keeps dots apart, and it is fixed so the layout does not move between reloads.
- What stage does not include: fundraising and runway. Neither a closed round nor a short runway moves a company left or right. Commercial traction and capital raised are kept separate throughout.
- Vertical: estimated cumulative external funding to date, all investors, not the Karaoke Club ticket. Bands only. Dots sit on a log scale inside their band so ordering is visible, but no figure here should be quoted as exact.
- Vintage: the calendar year of Karaoke Club's own investment date, not the company's founding year.
- Rates used: SEK 10.9 per euro, USD 1.164 per euro, GBP 0.857 per euro.
- Where the numbers come from: Q2 2026 founder updates and questionnaire replies, the July 2026 updates from Aniva Health and Terraspark, the March 2026 portfolio tracker, signed subscription and convertible documents, and the Notion investment memos. Where a founder update and the tracker disagree, the more recent founder update wins.
- Known gap: Third Frontier has given no revenue figure since March 2026 and answered neither the Q1 nor the Q2 questionnaire, so its stage rests on the March tracker.
- Known gap: Squidler has reported no revenue figure at all, so its dot sits at the low edge of Recurring revenue on the strength of paid subscriptions alone.
Karaoke Club