User World
Chat, websites, apps, software and builders run inside one calm login area.
Seed Round open
BLUN Investor Memo.
AI is becoming the new business infrastructure. BLUN bundles websites, software, API access, agents and billing into one system so demand can turn into revenue.
5Companies liveBuilt against real operations
3AI rolesKing, Queen, Prince as product logic
153Countries reachedPrepared for international use
2Commercial tracksSubscriptions and usage-based API
Core thesis
One product for building, operating and using AI.
BLUN connects three areas that are often separated today: a calm user surface, an API console for developers and an admin layer for operations, billing and customer visibility.
API World
Developers use models, keys, usage, wallet and pay-per-use separately on api.blun.ai.
Admin World
Operations, customers, billing, usage metadata and readiness live separately on admin.blun.ai.
Proof
The market is moving fast, and BLUN is built for it.
AI is no longer a feature trend. It is a budget category. The decisive layer is no longer the next demo, but a platform that sells, delivers, measures, bills and operates AI in daily work.
ProductPublic pages, chat, builders, Imagine, Voice, API console and billing as product surfaces.
OperationsAdmin readiness, plan management, OSS/billing status and customer overview.
SalesSelf-service plans, developer usage and partner inflow as separate growth routes.
MomentumCompanies are moving from testing AI to buying it for production: with security, cost control, invoices and clear responsibility.
Two Worlds
Two separate revenue worlds.
Subscription tiers are the predictable base. Pay-per-use API is the enterprise volume lever because budgets, limits, reports and monthly invoices matter more there than one seat price.
blun.ai - ChatSubscriptionSolo, Pro, Team and Enterprise as plan revenue.
api.blun.ai - APIPay-per-useCredits, budget caps and monthly billing in EUR.
Pricing Wedge
premium-positioned, not a discount play.
BLUN King is positioned as a frontier-class alternative: EUR 3 input and EUR 18 output per 1M tokens. At 1B tokens per month with a 50/50 input/output mix, BLUN is around EUR 10.5k.
| Model | Input / 1M | Output / 1M | 1B tokens / month |
|---|---|---|---|
| BLUN King | EUR 3 | EUR 18 | ~ EUR 10.5k |
| Frontier Base | USD 5 | USD 30 | ~ USD 17.5k |
| Frontier Pro | USD 30 | USD 180 | ~ USD 105k |
| Enterprise Reasoning | USD 15 | USD 75 | ~ USD 45k |
That is roughly 40% below Frontier Base, 77% below Enterprise Reasoning and 90% below Frontier Pro. This is a pricing-distance model, not a guarantee of future market prices.
Round Tiers
Three clear round paths.
The matrix makes ticket size, ownership and calculated post-money range visible. It does not replace negotiation, but it avoids vague expectations.
EUR 1M -> 12%
Calculated EUR 8.3M post-money. Best for strategic partners with strong access or operational leverage.
EUR 5M -> 18%
Calculated EUR 27.8M post-money. Mid path for product, sales and first enterprise pipeline.
EUR 10M -> 25%
Calculated EUR 40M post-money. Larger path for faster GPU pool, sales and compliance buildout.
Team
operator-led, not deck-led.
BLUN is built by people and agents who connect sales, operations, product and automation. Mayk and Dieter are the two anchor roles.
Mayk Biletti
Founder & CEO, Vienna. 20+ years vertical software and operating companies as the product base.
Dieter
AI Operator. BLUN's own agent coordinates 20+ specialist agents and runs live 24/7.
Dominik Schenkel
Marketing & Social. Positioning, social distribution and campaign structure.
Florin
Sales DACH. Pipeline, first calls and operating customer acquisition in the German-speaking market.
Markus
Sales DACH. Partnerships, customer contact and closing processes.
Richard Schultzberg
Sales Nordics, Stockholm. Access, network and sales buildout for the Nordic market.
Comparables
Market validation without exit fantasy.
The comparison rounds show how much capital is flowing into European and enterprise AI infrastructure. BLUN's seed is intentionally around one order of magnitude below growth rounds.
Seed to Series B
Seed Jun 2023 USD 113M @ ~USD 260M, Series A Dec 2023 USD 415M @ ~USD 2B, Series B Jun 2024 USD 640M @ ~USD 6B.
Series D
Jul 2024 USD 500M @ USD 5.5B. Enterprise AI with clear B2B positioning.
Series B
Nov 2023 over USD 500M financing round for European AI development.
BLUN's seed at EUR 8.3M to EUR 40M post-money sits clearly below these growth rounds. That is appropriate for pre-release and leaves a healthy markup target for Series A in 18-24 months.
Unit Economics
Model at scale, clearly labelled.
These figures are projections for scaled operation, not realized revenue. The logic: own GPU cost base, premium API pricing and enterprise accounts combining seats plus API volume.
~ EUR 2.0k / 1B tokens
Own GPU pool, EU colocation, electricity and amortisation as a utilization model.
~ EUR 10.5k / 1B tokens
BLUN King at EUR 3 input and EUR 18 output per 1M tokens, 50/50 mix.
~ 81%
Calculation: (10.5k - 2.0k) / 10.5k. Scale model, not actuals.
100 Accounts -> EUR 36.5M ARR
50 enterprise seats plus 1B API tokens per month equal roughly EUR 365k ACV per account.
500 Accounts -> EUR 182M ARR
Same account logic scaled as the target model for enterprise expansion.
Projection, not actuals
Every value in this section is intentionally labelled as a scale model.
Blended average
Average across tiers plus pay-per-use.
Benchmark model: 95% Solo/free, 3% Pro, 1.5% Team, 0.5% Enterprise. Plus 20% API activation with 100k tokens per API-active user/month. That creates a blended average of EUR 5.70 plan MRR plus EUR 0.21 pay-per-use per registered user and month.
Base case: 5% paid mix
| Users | Plan MRR | API MRR | Total MRR | ARR |
|---|---|---|---|---|
| 100 | EUR 570 | EUR 21 | EUR 591 | EUR 7.1k |
| 1k | EUR 5.7k | EUR 210 | EUR 5.91k | EUR 70.9k |
| 10k | EUR 57k | EUR 2.1k | EUR 59.1k | EUR 709k |
| 100k | EUR 570k | EUR 21k | EUR 591k | EUR 7.09M |
| 1000k | EUR 5.70M | EUR 210k | EUR 5.91M | EUR 70.9M |
| 10000k | EUR 57.0M | EUR 2.10M | EUR 59.1M | EUR 709M |
If only 1% of registered users pay, the mix falls to 99% Solo/free, 0.6% Pro, 0.3% Team and 0.1% Enterprise. With only 10% API activation, the average still lands at roughly EUR 1.14 plan MRR plus EUR 0.11 pay-per-use per registered user and month.
Only 1% paid conversion
| Users | Plan MRR | API MRR | Total MRR | ARR |
|---|---|---|---|---|
| 100 | EUR 114 | EUR 11 | EUR 125 | EUR 1.49k |
| 1k | EUR 1.14k | EUR 105 | EUR 1.25k | EUR 14.9k |
| 10k | EUR 11.4k | EUR 1.05k | EUR 12.5k | EUR 149k |
| 100k | EUR 114k | EUR 10.5k | EUR 125k | EUR 1.49M |
| 1000k | EUR 1.14M | EUR 105k | EUR 1.25M | EUR 14.9M |
| 10000k | EUR 11.4M | EUR 1.05M | EUR 12.5M | EUR 149M |
Scenario anchor, not a TAM claim: if 1% market penetration equals 5M registered users, this sensitivity model assumes a 500M-user reach universe. The table below mixes everything: Free/Solo, Pro, Team, Enterprise and API pay-per-use.
Market-share view: 1% = 5M users
| Market share | Users | Base MRR | Base ARR | 1% paid ARR |
|---|---|---|---|---|
| 0.01% | 50k | EUR 296k | EUR 3.55M | EUR 747k |
| 0.1% | 500k | EUR 2.96M | EUR 35.5M | EUR 7.47M |
| 1% | 5M | EUR 29.6M | EUR 355M | EUR 74.7M |
| 2% | 10M | EUR 59.1M | EUR 709M | EUR 149M |
This is the same calculation from an investor view: even the EUR 10M lead case is small compared with the revenue lever once BLUN reaches small slices of the addressable market.
Investment vs. market output
| Market share | Users | Base ARR | vs EUR 10M | vs EUR 1M |
|---|---|---|---|---|
| 0.01% | 50k | EUR 3.55M | 0.35x | 3.5x |
| 0.1% | 500k | EUR 35.5M | 3.5x | 35.5x |
| 1% | 5M | EUR 355M | 35.5x | 355x |
| 2% | 10M | EUR 709M | 70.9x | 709x |
Sources for market and conversion assumptions
| Source | Public statement | Used for |
|---|---|---|
| ChartMogul Conversion Report 2026 | Freemium good: 3-5%, great: 8-12%; AI/hybrid good: 6-8%. | Paid-mix benchmark |
| a16z Top 100 Gen AI Consumer Apps 2026 | AI-enabled consumer products can reach hundreds of millions of monthly active users; CapCut is cited at 736M MAU. | Reach ceiling |
| Bessemer State of AI 2025 | AI Supernovas average ~$40M ARR in year 1 and ~$125M in year 2; durable AI Shooting Stars reach ~$3M, ~$12M, ~$40M, ~$103M through year 4. | ARR pace |
| McKinsey Economic Potential of Gen AI | 63 GenAI use cases across 16 business functions could unlock $2.6T-$4.4T of annual value; broader productivity impact reaches $6.1T-$7.9T. | Market pull |
Benchmark assumption for the investor model, not actuals and not expected runrate. The reach rows are model projections at industry-average tier mix; live data should replace these assumptions later.
Risk + Mitigation
Risks belong in the pitch.
The risks are real, but addressable. BLUN positions them as an operating checklist, not a footnote.
01 Pre-release stageMitigation: 5 own companies as design partners, Stripe live, Q3 paying customer as the next proof point.
02 US frontier prices can fallMitigation: EU sovereignty and agent stack are moats beyond token price.
03 Talent + GPU cost inflationMitigation: operator-led, Vienna+Stockholm cost base, own GPU pool.
04 EU AI Act regulatory shiftMitigation: For BLUN, regulation is more tailwind than risk because compliance is part of the platform.
Revenue
Plan revenue plus usage-based API.
blun.ai remains plan revenue for users. api.blun.ai is the usage-based access layer for developers, teams and enterprise budgets. Both worlds run on the same platform, but with separate login context and navigation.
SoloFreeStart for first projects and tests.
Pro49 EURMonthly for individuals.
Team149 EURMonthly for shared work.
Enterprise399 EURPer seat and month for companies.
Roadmap
The next measurable steps.
The focus is paying customers, API control, admin transparency and a clear separation of user, developer and operator worlds.
Q2 2026Bring Public V2, API console, billing readiness and investor memo together.
Q3 2026Prove paying customers, controlled API usage and usage-based monthly billing.
Q4 2026Operationalize enterprise pipeline, Nordic sales and GPU pool expansion.
Questions
Short answers.
Is this page a financial offer?
No. This page is a product and company overview. Concrete investment or financing questions happen only in direct contact.
How should ticket and equity be read?
As a discussion range, not as a fixed calculation. A concrete share depends on ticket, timing, lead structure and contract.
Where can the current status be seen?
The public pages show product and pricing. Internally, the admin go-live cockpit shows technical readiness for deploy and operations.
Understand BLUN in one conversation.
For investors, partners or strategic questions, there is a direct contact route with clear context.