BalticVC

Vilnius-based AI startup nexos.ai has raised €7.7M from lead investor London-based Index Ventures with participation from Swedish early-stage venture capital firm Creandum, UK-based Dig Ventures, CEO of Datadog Olivier Pomel, CEO of Klarna Sebastian Siemiatkowski, CEO of Supercell Ilkka Paananen, and CEO of Wix.com Avishai Abrahami.

Lithuanian Contrarian Ventures has participated in an €8.7M round of the Swiss developer of cleaner fuels for the aviation industry Metafuels . The round was led by London-based Celsius Industries, US RockCreek, Australia's Fortescue Energy Ventures, and Zurich-based Verve Ventures. The US investment platform Energy Impact Partners also joined the round.

Lithuanian payments provider ArcaPay  was acquired by financial technology company Ebury .

Gytenis Galkis, cofounder of Lithuanian venture capital fund and accelerator 70V , and Audrius Milukas, CEO of Lithuanian venture fund management company Open Circe Capital  have joined Finnish  Superhero Capital ’s €50 million venture fund as new partners.

The retail startup Pixevia registered in Lithuania as Magma Solutions, has raised €340K in an extension bridge round. The round was led by Lithuanian Coinvest Capital , which invested  €170K. Existing and new investors, including LitBAN co-founder Vladas Lašas, founding partner of Lithuanian Gamedev Fund Renaldas Zioma, co-founder of Vilnius-based syndicate LitBAN Rita Sakus and Vytenis Benetis also participated in the round.

Lithuanian SaaS platform for banks and paytechs Torus received investment from Swedish Goose Valley Ventures.

Lithuanian greentech investment firm HeavyFinance has announced a partnership with Multitude Bank, the main subsidiary of Malta-based Multitude Group. 

Lithuanian Freya Cultivation Systems , which is developing controlled environment agriculture with its flagship Aeroframe technology, has raised €500K. The round was led by Lithuanian Coinvest Capital and BSV Ventures . Lithuanian Sofigama , Finnish Zunami Oy and business angels Paulius Vilemas and Marko Lehtovaara also participated in the deal. Coinvest Capital's investment in the company amounted to €250K.

Lithuanian Contribee , which helps entrepreneurs and companies manage their fan subscriptions or support their favorite creators and discover exclusive content, has been acquired by Lithuanian Masiva Group. The deal is an exit for Lithuanian Coinvest Capital , Estonian Startup Wise Guys and several business angels.

Lithuanian AI-powered reputation tracking software Repsense has raised €425K from existing investors Lithuanian Coinvest Capital , Iron Wolf Capital, BSV Ventures (ex-Baltic Sandbox Ventures), and four business angels.

Fintech TransferGo , founded by Lithuanian entrepreneurs, will donate money to the Lithuanian fund Jaunaragiai. The amount of donation from TransferGo is not disclosed. In addition, TransferGo may provide more funding to Jaunaragiai in the future.

Lithuanian Tech Zity Vilnius has raised €37M. Tallinn-based Bigbank  invested €28M in the form of a loan. €6.1M was secured from 49 private investors, including Darius Zakaitis and Mantas Mikuckas, and €3M - from the EfTEN Special Opportunities Fund, managed by Estonian real estate fund EfTEN Capital.

Lithuanian BSV Ventures , which changed its name from Baltic Sandbox Ventures last week, has raised $15M from NATO Innovation Fund (NIF), Lithuanian ILTE fund (ex-Invega), which invested under the Accelerator 2 program, and other private investors from Europe.

We want to share a podcast, made by Google AI-pilot. It consists of a short review of the Baltic Startups Survey 2024, revealing its main ideas in plain English. If you prefer to get information informally, you should listen to it.

Lithuanian startup CyberUpgrade , which has developed an AI-powered solution for enterprise security, has raised €2.5M in a seed round. The round was led by the Finnish Superhero Capital, with participation from Estonian Specialist VC , Lithuanian accelerator Firstpick , and a syndicate of investors from Lithuanian angel investment network NGL. Business angels Maria S. Kalochoritis and Sergey Anikin also participated in the round.

Lithuania's Ligence , which helps improve cardiac diagnostics, has raised €3M from a syndicate of 53 business angels NGL, Lithuanian Coinvest Capital , Estonian Lemonade Stand, a business angel Rita Sakus, Poland's Simpact Ventures, the European Innovation Council and SMEs Executive Agency (EISMEA). Following this investment, Coinvest increased its stake in the company to 19.67% and remains the largest investor.

Goals and methodology of the survey The BalticVC team studied the startup ecosystem in Estonia, Latvia, and Lithuania for its Baltic Startup Survey. We sent questionnaires to startup founders from these countries.

TranferGo Lithuania will raise investment from Silicon Valley-based Hard Yaka Ventures. The amount of the investment was not disclosed. The deal has been approved by the Bank of Lithuania. Hard Yaka Ventures will indirectly acquire between 10% and 20% of the shares and voting rights in the company.

Lithuanian startup Broswarm , which develops technologies for battlefield mine detection, has raised €800K from Lithuanian fund and accelerator ScaleWolf .

The Lithuanian Business Angels Fund has invested €465K in three Lithuanian and one Norwegian startups. Other business angels were involved in these deals, but their names were not disclosed.