Estonia's e-residents opened 4,818 new companies in 2024, an average of 400 new companies per month, which is an absolute record in the 10 years of the program's operation.
Latvian AI startup Trace.Space has raised $4M in seed funding. German company Cherry Ventures led the round, joined by Riga-based Outlast Fund , as well as previous investors American Nebular, Austrian Fiedler and Estonian Change Ventures .
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.