Product & Tech DD, built for European VC
Product & Tech DD, delivered in 1 business day. Built on 250+ engagements.
- ✓Verify the AI: is it real, a wrapper, or theater?
- ✓250+ automated checks, operator-verified verdict
- ✓Non-intrusive. Under 30 minutes from the target team
- ✓Pre-term-sheet, in-DD, or across your entire portfolio
The problem
You're underwriting tech you haven't actually seen.
01
Traditional product & tech DD is too slow, too shallow, and done by the wrong people.
Three to six weeks, vendor interviews, self-reported metrics, and a verdict from people who've never shipped a product. By the time it lands, the deal has moved on.
Why European VCs are pricing deals blind →02
Every deck claims AI. Almost none of them survive a closer look.
Wrappers dressed as moats. Prompts called models. Demos hiding production gaps. You need to know whether the AI is genuinely unique, an enabler, or a story. Before you underwrite the bet.
The EU AI Act: a new diligence obligation →03
The tech clarity you need dies at the term sheet.
DD gives you one verdict, once. Then the portco runs for years. Architecture drifts, velocity falls, key people leave, and your fund finds out at exit. You need a signal that keeps working after the deal closes.
5 tech DD questions every investor should ask →
Who we are
Built by operators who've been on both sides of the table.
We built the X-Ray because we kept watching investors write term sheets on technology they hadn't actually seen. Traditional tech DD was too slow, too late in the process, and done by people who'd never shipped a product. We fixed that.
250+ automated checks, signed off by us. Founders, CTOs, and CPOs who know what good actually looks like under the hood.
After 250+ engagements, nothing in Europe comes close.
250+
European engagements
100%
Partner repeat rate
30 min
Target time commitment
The X-Ray
A hands-off diagnosis. AI-powered. Operator-verified. In 1 business day.
- ✓Target connects their codebase — under 30 min, read-only
- ✓VC and company add context — thesis, key questions, dataroom docs
- ✓AI runs 250+ checks across the full stack
- ✓Operators verify every finding — IC-ready within 1 business day
Pillar scores
250+ dimensions, each with a verdict and a way forward.
Benchmark
overall scoreRanked 2nd of 6 · anonymised
Findings
A verdict on every pillar — before you commit, not after.
Architecture
Investable with conditions
Security
Caution — auth gaps found
Team & Delivery
Strong — above benchmark
AI Readiness
Moderate — gaps in governance
Code Quality
Strong — clean codebase
Gap closing over time
Price the gap into your deal. Use the data in term sheet negotiations — not as a surprise after.
Delivered in 1 business day
What you get in 1 business day.
Executive Presentation
Verdict + scored pillars
Mitigations Document
Prioritised fixes for CTO
Clarification Questions
Sent directly in-platform
Raw Evidence
Code-level data for deep DD
Pillar scores
250+ dimensions across the target's stack, each with a deal-relevant verdict.
Benchmark
Ranked 2nd of 6 · anonymised
Findings
A verdict on every pillar, not a list of observations.
Architecture
Investable with conditions
Security
Caution — auth gaps found
Team & Delivery
Strong — above benchmark
AI Readiness
Moderate — gaps in governance
Code Quality
Strong — clean codebase
Gap closing over time
Prove the gap is closing. Rescan to show progress — in data, not slide decks.
Delivered in 1 business day
Four layers, four audiences — one complete picture.
Executive Presentation
Verdict + scored pillars
Mitigations Document
Prioritised fixes for CTO
Clarification Questions
Sent directly in-platform
Raw Evidence
Code-level data for deep DD
How it works
From activation to verdict.
One business day.
Activate an X-Ray
Select a target, add your investment thesis, key questions, and any docs. We take it from there.
New X-Ray
Sign NDA & connect code
NDA signed same day — use our template or yours. Target connects repositories (read-only, under 30 min) and adds any technical docs.
Repository access
From company
AI scan + operator verification
250+ automated checks run across all pillars. Our senior operators then review every finding — adding context, catching edge cases, and signing off on the verdict.
Scan progress
247 / 250
Operator notes
Security score adjusted
Auth issue pre-dates team — not systemic
Crown jewel identified
Real-time data pipeline — rare at this stage
Context added
Monolith is intentional — roadmap shows migration
Questions to the company
Where the scan raises questions, we send them directly to the company. They answer in the platform — structured, traceable, fast.
DD questions
3 pendingWhat is the plan for the auth layer migration?
AnsweredWho owns the data pipeline and what is the bus factor?
AnsweredAre there existing SLAs for enterprise clients?
PendingInvestor Verdict
Verdict, risk rating, crown jewels, and how the tech maps to the deal. IC-ready — no technical background needed.
Investor Verdict · Vertex
ConfidentialInvestable with conditions
Security remediation required pre-close
76
Full Findings & Actions
Every finding with code references and a remediation path. Released to the company at your discretion — before or after close.
Full Findings · Vertex
VC releasesAuth tokens stored in local storage
auth/session.ts:42
No rate limiting on public API endpoints
api/routes.ts:118
Lodash 4.17.11 — CVE-2021-23337
package.json
Debrief — your deal team
We walk through every finding with your deal team. Ask anything. We translate technical risk into investment language.
On the call
X-Ray Team
Walking through findings
You
Lead investor
Deal team
IC members
Separate debrief — optional
If useful, the X-Ray team can do a separate debrief with the company's CTO. Completely optional — and kept separate from your investor debrief.
Optional — company debrief
X-Ray Team
Walking through findings
Vertex CTO
Technical lead
Kept separate from your investor debrief.
Optional: Product & Tech Due Diligence
Not part of the X-Ray. A separate, deeper engagement when the deal warrants it — operator interviews, architecture deep-dives, IC-ready package.
Due Diligence — add-on
Avg. 2 weeks from X-Ray verdict
Operator interviews
CTO + lead engineers, structured
Architecture deep-dive
Full system walkthrough
Expanded X-Ray
Deeper checks, more pillars
IC-ready package
Verdict, risk rating, recommendation
Used when the deal warrants deeper scrutiny — post-term-sheet or pre-close.
Learn more →What investors say
In their own words.
“Tech DD earlier in the process changes things, it unlocks deal speed. We put down high valued term sheets with more confidence and use tech DD not only as confirmation, but to pay up for the quality now that we know what's really under the hood.”
Mathijs de Wit
Managing Partner · Newion
“Speed, depth, and a clear focus on business goals. Our go-to for every scan.”
Dorus Olgers
Partner · Newion
“Their technical due diligence supports our scale-up investments by providing a clear assessment of whether the technology and product organization can scale effectively.”
Isabelle Laurencin
Partner · ECBF
“Every startup we have taken through technical due diligence has appreciated it, and the depth of the analysis has been consistently useful to our process.”
Nityen Ranjan Lal
Managing Director · Icos Capital
“The assessment gives you a clear picture of what's actually under the hood. Not just a checklist, but real insight into what matters for the investment. That's been my experience across multiple deals.”
Joyce Houterman
Investment Manager · ROM Utrecht Region
Calibrated to your fund
Every X-Ray is tuned to three things about your fund.
No one-size-fits-all report. We adapt scope, depth, and focus based on where you invest, what you're betting on, and which vertical you back.
Stage
Where the target is in its journey.
Different stage, different risks. What matters at Seed is not what matters at Series C.
Pre-seed / Seed
Team capability, architecture fundamentals, early tech debt
Series A / B
Scale readiness, tech debt quantified, key-person risk
Series C+
Organizational maturity, integration risk, post-investment roadmap
Thesis
The lens your fund invests through.
Every fund has a different bet. We assess against yours. Examples:
“Does the architecture match the commercial thesis?”
“Is this real AI defensibility, or wrapper-level?”
“Will the cost structure work in your return window?”
Focus
Your industry vertical.
250+ scans across 11+ verticals. Industry context shapes what matters.
Security & Trust
Built for sensitive data.ISO 27001 in progress. Confidential by design.
ISO 27001
Currently in the process of achieving ISO 27001 certification, the international standard for information security management.
SOC II
SOC 2 certification in progress. Independently verified controls for security, availability, and confidentiality of your data.
Confidential
Every engagement is covered by NDA. Your product & tech reality stays between us. Full stop.
No data retained
Source code and dataroom content is analyzed in-context. Nothing is stored or shared after the engagement ends.
GDPR
Working towards full GDPR compliance. Data processing agreements available on request.
Secure dataroom
Dataroom integration reads only what it needs. Access is scoped, auditable, and revocable at any time.
ISO 27001
Currently in the process of achieving ISO 27001 certification, the international standard for information security management.
SOC II
SOC 2 certification in progress. Independently verified controls for security, availability, and confidentiality of your data.
Confidential
Every engagement is covered by NDA. Your product & tech reality stays between us. Full stop.
No data retained
Source code and dataroom content is analyzed in-context. Nothing is stored or shared after the engagement ends.
GDPR
Working towards full GDPR compliance. Data processing agreements available on request.
Secure dataroom
Dataroom integration reads only what it needs. Access is scoped, auditable, and revocable at any time.
Insights
Latest from the blog.
FAQ
Common questions.
What if your product & tech DD took 1 business day instead of 3–6 weeks?
Traditional DD takes 3 to 6 weeks. We deliver in 1. Optionally pre-term-sheet for extra deal confidence.