Duvo raises $32M Series A for its enterprise execution OS

Duvo, the Prague based enterprise execution OS founded by Rohlik’s Tomáš Čupr, has raised a $32M Series A led by Balderton Capital, with Index Ventures, Northzone and Credo Ventures all returning, to take its AI workflow agents to American retailers and consumer goods companies.

Agentic AI has a credibility problem: every enterprise wants it, and Gartner predicts more than 40% of agentic AI projects will be cancelled by the end of 2027 (Gartner, June 2025). And yet, in the same market carrying that warning label, one of Europe’s most proven operators has just raised one of the largest agentic automation Series As we have tracked this autumn. Below, I lay out the round, the company behind it, and what a cheque this size landing in Prague tells us.

Balderton leads, the whole seed table returns

Duvo announced its $32M Series A on 14 October 2026. Balderton Capital led, and every institutional backer from the launch round came back for more: Index Ventures, Northzone and Prague’s own Credo Ventures. The round takes total funding to $48M, ten months after the company launched in December 2025 with a $15M seed (company announcement).

The money has a destination: the United States, starting with the industries the team knows from the inside. “We’re starting in the U.S. with retailers and consumer goods companies, because that’s the work we know best,” Čupr said in the announcement. The commercial bench is being built to match – Michael Green joins as Chief Commercial Officer from Databricks, after a run as Senior Vice President at Salesforce, and Spencer Insolia, a former President of Kmart, recently joined as Managing Director for the US.

Balderton partner Rob Moffat was blunt about why the firm wrote the cheque: “Getting AI agents to work reliably across the enterprise remains incredibly difficult.”

Born in Rohlik’s back office

So what does Duvo actually do? It calls itself an Enterprise Execution OS: one governed platform where a company’s operational processes run. Its mapping layer, Duvo Clarity, captures how work actually happens inside a large organisation – through AI led discovery interviews, screen recordings and existing documentation – including the undocumented exceptions that live in people’s heads. Agents then execute the approved steps across ERPs, supplier portals, spreadsheets and inboxes, through APIs where they exist and through the same screens employees use where they do not. Decisions and exceptions route back to the process owner.

Čupr co-founded the company with Marek Paris and Martin Pecha, both former Rohlik colleagues, and tested the product inside Rohlik first. His track record is a large part of the pitch: Slevomat, Dáme jídlo (acquired by Delivery Hero in 2014), then Rohlik, the Czech online grocer he founded in 2014 and took past a €1bn valuation in 2021 (company announcements).

The customer list is already unusually concrete for a company this young: Notino, Morrisons, Holland & Barrett, Boden and Allegro. The flagship number comes from Notino, which reconciles roughly $45M a year in supplier bonuses: that quarterly cycle dropped from 70 days to 15, and from about 120 specialist hours to under 10 (company announcement). Duvo says it has unlocked more than $100M in value for clients so far – a company figure, not an audited one. Čupr’s own framing of the category is the most interesting quote in the release: “For a while I measured AI in heads, counting how many people an agent could replace. It’s the wrong unit.”

A $21bn market with a built in health warning

The market Duvo sells into is growing fast and failing publicly at the same time. Gartner’s 2025 forecast has spending on business orchestration and automation technologies rising from almost $7bn in 2025 to more than $21bn by 2029 – an implied growth rate of roughly 32% a year. Set that against the same firm’s 40% cancellation prediction and the picture sharpens: the spend is coming, and most of it will flow to the platforms that survive the pilot graveyard.

For scale against our own fundraising data: the European agentic automation rounds we covered in September were Primo’s €6.9M round co-led by Headline and Global Founders Capital, and Humanos’ $3.2M seed led by Anthemis. Duvo’s $32M is more than four times the larger of the two – a different weight class entirely.

What a Prague Series A this size signals

What we are seeing is London growth capital moving east without hesitation: Balderton, Index and Northzone on one cap table, anchored by Credo in Prague. Ten months from launch to a $32M Series A is a tempo we usually file under San Francisco, and it happened on European soil because the founder had already built the reference customer himself. The good news is that this playbook is repeatable: Europe is full of operators who have spent a decade inside grocery, logistics or manufacturing back offices, and the undocumented exceptions they carry around are exactly what horizontal agent platforms cannot see.

Two things are worth watching from here. Whether the US push converts – a Prague company selling execution software to American CPG giants is a real test of European enterprise AI’s exportability. And whether Czechia’s next repeat founders read this round as the signal it is. The pattern is clear – watch Prague!