Baltic startups attracted €1.603 bln this year

Estonian, Latvian and Lithuanian startups raised €1.603 bln this year compared to €1.894 bln in 2021. The data, collected by the Lithuanian management company Firstpick, revealed that the total amount of venture investment in Baltic countries decreased from 191 in 2021 to 124 (if to count until December 2022). The amount of investment fell to 15%.

This year Estonia became the leader in the amount of venture investment in the Baltic region. Estonian startups attracted €1,295 bln compared to €1,03 bln in 2021. It is worth remembering a €628M round of investment in the transportation platform Bolt in January 2022.

Lithuanian technology companies received €241M this year compared to €419M in 2021. Latvian startups attracted €67M in 2022, and the value of transactions in 2021 was €246M.

The most active investors in the region were Czech venture fund Lighthouse Ventures and Finland’s  Icebreaker. vc and Superhero Capital. This year's rounds saw the participation of the world's largest funds as Accel, Burda Principal Investments, Tiger Global, Atomico, Target Global and Index Ventures.