BalticVC

Pulsetto , a medical technology startup from Vilnius, has raised €2M from ScaleWolf , a Lithuanian dual-use technology gas pedal and venture capital fund. 

Vilnius-based biotech company Atrandi Biosciences has raised $25M in a Series A led by Lux Capital . Vsquared Ventures , Practica Capital , Metaplanet and GRIDS Capital also participated in the financing. 

Vilnius-based fintech startup Veli   has raised a six-figure investment from Serbian fund Omorika Ventures . 

  In the TechChill  startup and technology competition, Latvian startups received  investment offers for €610K.

Estonian company DriveX has raised €1.2M to further develop its windshield damage detection technology using artificial intelligence. 

In 2024, funding for startups in the Baltic countries decreased. However, the situation stabilized somewhat in the second half of the year. This is the conclusion reached by Change Ventures and FIRSTPICK in a new report on startup funding in the Baltic States for the second half of 2024. 

According to Dealroom's latest report, Lithuania's startup ecosystem continues to grow strongly. Last year, its total value increased by €2B, and in the decade since 2014, the value of Lithuanian startups has grown 39 times - from €419M to €16B.

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.