BalticVC

Estonian venture capital firm Yolo Investments launches a €100M Yolo Fund II L.P for investing in online gaming, blockchain, fintech, and renewable energies. The company will continue back to startups from around the world of A+ stages. In total, Yolo Investments plans to invest in 20-30 ventures. Considering the fund's size and investment amount, the average ticket per startup will range from €3M to €5M.

Tallinn-based fintech  Money.Industries raised investment at the valuation of $1,5M from Azerbaijani Caucasus Ventures, and entrepreneurs from Turkey, Hasan Jabbarov, and Sabrican Zaim.

Estonian AI-powered drug development platform Nora AI raised €65K from Arti Kütt (the CEO and ex-major shareholder of Estonian parcel locker and robotic solutions development and sales company Cleveron), Triin Hertmann (Estonian business angel and co-founder of the investment platform Grünfin), Liina Joller-Vahter (entrepreneur and the researcher at the Tartu University), Tarmo Renter (Estonian business angel and founder of software company Avalanche Laboratory). An angel investor from Berlin Darya Kamkalova and other investors joined this round.

Latvian platform for creating and selling branded cosmetics, vitamins and food supplements Supliful negotiates  a mezzanine loan of up to €2M from Latvian opportunity capital fund FlyCap.

Latvian LongeVC participated in 32M of US biotech startup Unnatural Products . Round A was led by the US growth investment company Merck Global Health Innovation Fund (MGHIF) and San Fransisco-based techbio-focused ARTIS Ventures. Among other backers are the US First Spark Ventures, The Venture Collective, Humain Ventures, and Not Boring Capital.

Lithuanian fintech SME Finance changed its brand name to smeGo . According to the company, the new name means the commitment to help established small and medium businesses grow and move forward. In addition, apart from existing offices in the Baltics and Finland, the startup expanded its operations and opened a branch in the Netherlands.

Latvian developer of nano-coatings for green hydrogen systems Naco Technologies raised  €1.2M from lead investors Hungarian Impact Ventures and existing backer a deep tech-oriented fund The Untitled Ventures.

Kaunas-based startup Sentante , which manufactures a fully robotic teleoperated system for endovascular interventions, raised  €6M from lead investor Lithuanian Practica Capital with the participation of the EIC fund (the investment arm of the European Innovation Council).

Riga-based private equity fund Livonia Partners will invest in a Latvian provider of business process digitalization solutions for large and mid-sized organizations Digital Mind . The company will use this investment to acquire 100% of Polish company EIP Dynamics, which provides ERP (Microsoft enterprise resource planning) solutions. The amount of the deal is undisclosed. 

Tallinn-based startup Agrovisio , which provides analytics of agricultural areas and crops to farmers, raised €260K from Turkish motor vehicle manufacturer TürkTraktör at a valuation worth of €4M.

Tallinn-based AI solution to prevent food waste in supermarkets and catering services Cognitiwe  raised investment from Azerbaijani Caucasus Ventures. The amount of the deal is undisclosed. According to the investment company, its average ticket per startup ranges from €50K to €100K.

Latvian bulk cargo shipping delivery platform Viangoo   raised €57K from state-owned development finance institution Altum .

Estonian Karma Ventures was a leading investor in a 7,7M round of Vienna-based startup HYDROGRID , which designed a SaaS solution for hydropower plants. The co-leader was Chezh Inven Capital with the participation of Austrian CNB Capital, Amsterdam-based SET Ventures, and business angels Wolfgang Sauerzapf and Gerhard Arminger. With the deal, Karma Ventures founding partner Tommi Uhari and investment director at Inven Capital Michal Mravec became board members at HYDROGRID.

Tallinn-based forest carbon removal platform Arbonics  raised €5,5M from the lead investor Helsinki-based Nordic Ninja with the participation of existing backer Estonian VC Plural, founded by Sten Tamkivi and Taavet Hinrikus. The new investor Czech Tilia Impact Ventures joined the round.

  Estonian regtech collaborative crime-fighting platform Salv   raised  €3,9M from existing investors, London-based Passion Capital, German VC Giesecke+Devrient Ventures, and New York-based ffVC. Also, undisclosed new investors participated in this deal.

Tallinn-based producer of wool packaging Woola   raised  €2.5M from the lead investor Jaan Tallinn’s fund Metaplanet with the participation of existing backers US fund Future Ventures, owned by a venture capitalist with Estonian roots Steve Jurvetson, Estonian VC Lemonade Stand, and new angel investors. 

Lithuanian Contrarian Ventures was  a lead investor in a €7,4M seed round of a Swiss developer of cleaner fuels for the aviation industry Metafuels . The US investment platform Energy Impact Partners was a co-leader in this round. With the deal, Partner at Energy Impact Partners Ashwin Shashindranath and Managing Partner and Founder at Contrarian Ventures Rokas Peciulaitis will join the company’s board.

 Estonian automated food hygiene inspection platform Inspectle Food   raised  €400K in a pre-seed round. Estonian Change Ventures was the lead investor. Lithuanian accelerator and venture capital firm Firstpick and Berlin-based Heartfelt_ (previously APX, backed by German media and technology company Axel Springer and carmaker Porsche) also joined the round.

Estonian firm Karma Ventures invested in a solution for monitoring short-term rental properties Minut . The €4,6M extended B round was backed by London-based VC and private equity company Smedvig Capital, US-based Almaz Capital, Swedish VC Zenith, Denmark’s VC Kompas, the Netherland’s KPN Ventures, San Francisco-based SOSV, Swiss investment firm Verve, and other existing investors. 

Estonian developer and manufacturer of hydrogen drones and related infrastructure Skycorp Technologies raised  €305K in a pre-seed round from lead investors Singaporean company Destiny Energy, which works with renewable energy projects, and Vilnius-based Baltic Sandbox Ventures. Estonian investing company Syda Ventures and an angel investor and a head of development projects at Estonian private energy company Alexela Energia Artur Dianov also participated in the deal.

Estonian ordering platform for restaurants, cafes, bars, food trucks, and hotels Biteful  raised €220K from Estonian accelerator and VC StartupWiseGuys, Tallinn-based Specialist VC, and Robert Hegedüs, a founding partner of Budapest-based venture fund Fiedler Capital. €100K was injected by Specialist VC, €100K - by StartupWiseGuys, and  €20K - by Robert Hegedüs. The startup received this investment during the third B2B SaaS acceleration program in Bilbao, organized  by Startup Wise Guys. 

Estonian quantum-resistant Layer 1 blockchain QANplatform raised  $15M from Qatar-based investment company MBK Holding, led by a member of the Qatari ruling family H.E. Sheikh Mansoor Bin Khalifa Al-Thani. Earlier, he worked as the director of information technology for The Council of The Qatar Ruling Family Affairs.

Estonian producer of carbon nanomaterials UP Catalyst raised  €4M from previous investors Estonian independent electricity producer Sunly, Estonian VC Little Green Fund, Tartu-based company Scottish Baltic Invest (connected to Estonian manufacturer of electro-mechanical solutions Interconnect Product Assembly), and an investment company of the University of Tartu UniTartu Ventures. Berlin-based VC Extantia and SmartCap, a subsidiary of the Estonian Business and Innovation Agency, were leading the round.

Latvian LongeVC invested in the US biotech Interface Biosciences , which develops inflammatory disease treatment. New investors from the US, San-Diego-based VC SeedFolio and Berlington-based Gaingels, as well as previous backers US-based Pacific 8 Ventures, Pear VC, Boom Capital, and Ulu Ventures also participated in the $3M seed round.

Estonian StartupWiseGuys  will invest up to €150K in six startups during its first Web3 acceleration program in Lisbon (Portugal). The accelerator will give €115K in cash (convertible investment) and €35K for participating in the program. Moreover, startups can get €300K of following-on investment after the program ends. The investment will be provided by both Startup Wise Guys and Lisbon-based VC firm 3Comma Capital. The managing director of the acceleration program is Gilles DC.

Estonian deeptech companies received 11% of total venture investment in the country from 2018 to 2023. According to the third annual European deep tech report provided by Amsterdam-based startup database Dealroom, European VC Lakestar, and San Francisco-based VC Walden Catalyst, Estonia is in the 16th place out of the top 19 European countries with the highest interest in venture investments in deep tech from 2018 to 2023. Estonia overperforms Denmark, the Czech Republic, and Belgium.

  Estonian sales management CRM platform Pipedrive laid off a dozen employees due to its plans to provide customers with better service. Apart from lay-offs, Pipedrive changed the reporting lines of some teams and offered promotions to some employees.

Estonian firm Superangel  invested in Copenhagen-based startup BeCause . The €1,9M round was led by Superangel and Danish Ugly Duckling Ventures. US VC Mercato, CEO of UK data infrastructure company Versori Sean Brown, CEO of global financial technology company Circle Sean Evans, and a private investor from the US Patrick Patrong also participated in this round. Co-founder and general partner of Ugly Duckling Ventures Andreas Green Rasmussen will join the board of BeCause management.

Lithuania is expected to be among one of three European countries and the only one in the Baltic region to increase venture investment in 2023 compared to last year. In addition, it ranks at the 15th place among the top 30 European countries by amount of venture capital invested in startups, outperforming Estonia in two positions.

Riga-based dating service Flirtu   raised  €200K from Latvian investment firm Expansion Capital AIFP .

Siena Secondary Fund acquired  a 0.55% stake in the Estonian developer of supercapacitors (fast-charging batteries) Skeleton Technologies . 0.46% - through Siena Secondary Fund I and 0,09% -through Siena Secondary Fund Co-Invest III. Also, Estonian entrepreneur and a board member of the bank LHV Pank Heldur Meerits acquired 0,18% of Skeleton through his company Malinska.

Riga-based EV wireless charging Meredot   raised  $120K from US-based accelerator Techstars.

Latvia will receive €55.8M from the European Regional Development Fund to launch and manage three venture capital funds. The first tender for funds managers has already been started. Applications are open until 31 January 2024. 

The Russian court has charged the ex-CEO of Russian company Game Insight, a subsidiary firm of Lithuanian Game Insight , Julia Vinokurova, to pay off €82,9K. 

Lithuanian pet care startup Boop  and educational toy subscription startup LILEDU  raised investments. Boop raised €300K from two business angels of LitBAN Zilvinas Skardzius and Živilė Paliukienė. LILEDU raised €150K from Lithuanian accelerator Firstpick and some business angels of LitBAN, whose names are undisclosed.

Riga-based New Nordic Ventures and business angel Roman Garin invested €350K in French data startup Rapid Delivery Analytics . 

The startups from Estonian county Ida Virumaa reached  a turnover of €2,3M in the three quarters of 2023, which is 45% more than in the same period of 2022. In the first nine months of 2022, Idu Viru's startups reached €1,6M in turnover.

Estonian StartupWiseGuys will invest up to €200K in twelve B2B SaaS startups during its third accelerator program in Bilbao. The program targets early-stage startups with a particular emphasis on Industry 4.0. The accelerator will give €170K in cash and €30K for participating in the program. Moreover, startups can get €300K of following-on investment after the program ends.

Estonian cleantech Efenco   raised  €1.3M from a founding member of EstBAN and venture partner of Finnish VC Superhero Ivo Remmelg and other business angels of EstBAN. The lead investor was Ivo Remmelg. 

Estonian tech companies showed growth in turnover by 11% to €1.69Bln in the first nine months of 2023, compared to the same period in 2022, when the turnover reached €1.52Bln. Bolt (€904.9M), Veriff (€53.8M), Swappie (€47.8M), Crezu (€24.1M) and Viseven (€23.9M) had the highest turnover.

Estonian beauty and health tech Haut.AI raises  €2M from Latvian LongeVC and the VC arm of the Brazilian beauty group of companies Grupo Boticário.

Latvian Ministry of Economics plans  to allocate €400K for support of startups in 2024. It is twice more than in 2023 when the Ministry of Economics allocated €200K. Next year, the financing will be spread between Latvian Startups Association Startin.LV, a non-profit organization TechChill, Latvian Business Angels Network (LatBAN), Latvian Private Equity and Venture Capital Association (LVCA), Riga Technical University (the RTU science and innovation center), and TechHub Riga.

Lithuanian wellness technology platform Walk15   raised €500K from the co-founder of the Lithuanian marketplace Vinted and Practica Capital Mantas Mikuckas and business angels of LitBAN. The valuation of the startup during the round was €15M.

Ex-head of Vilnius-based governmental initiative Startup Lithuania Roberta Rudokiene became the new CEO of Lithuanian Business Angel Network (LitBAN). The current Managing Director of LitBAN Justinas Pasys, who will delegate his job to Roberta Rudokiene at the end of November, will work on the syndicate of business angels NGL, which he founded in December 2022. He will also continue facilitating syndicated investments, angel schools, and forming startup advisory boards.

Estonian Harju County Court declared tax and customs company Eurora  bankrupt. Eurora has liabilities for at least €6.4M, including payroll liabilities. The management board estimates the market value of the assets at €2.5M. 

Estonian business angel Tarmo Renter, who recently sold his software development company Avalanche Laboratory, invested  in Danish fashion startup Virtuall . A €829K pre-seed round was led by Export and Investment Fund of Denmark (EIFO), Italian fashion tech accelerator Styleit, and Swedish accelerator Antler. Business angels Morten E. Wulff, Bjorn Bruun, and Anders Gustafsson also participated in this round. 

Estonian platform Fyma , which analyzes real-time video feeds, raised $2.1M. The lead investor was London-based Quadri Ventures. Chicago-based investment firm Second Century Ventures also participated. 

Vilnius-based data analytics platform for gaming and app developers Devtodev was acquired by US-based unicorn AppsFlyer. 

Vilnius and Miami-based cloud optimization platform Cast AI raised  $35M. Israeli VC Vintage Investment Partners was the lead investor in round B. Swedish early-stage venture capital firm Creandum and US Uncorrelated Ventures also participated in the deal.

Estonian on-demand metal fabrication platform Fractory raised €4.8M from lead investor Finnish VC Kvanted, and existing company’s backers, such as Estonian Trind Ventures and Specialist VC (former United Angels VC), Estonian accelerator Startup Wise Guys, Finnish Superhero Capital, Amsterdam-based OTB Ventures, and Swiss investment firm Verve Ventures.

Tallinn-based family office Amalfi invested in Finnish IoT company Wirepas . A $22M round was led by London-based VC Highland Europe. Other investors were US-based VC IQT and existing investors, such as British investment firm ETF Partners, the Netherlands-based KPN Ventures, German Vito Ventures, and a business angel from Finland Vesa Laisi.

Estonian producer of sustainable packaging RAIKU   raised  €3,15M from the @EUeic European Innovation Council (EIC) and the same amount from private investors, the names of which are undisclosed. The startup also received a grant worth 2,5M from EIC.

Estonian climate tech Gridio , which offers a solution for automatically charging electric vehicles, raised investment from Oslo-based accelerator and VC Katapult. According to the accelerator, the average amount of investment allocated per startup was $230K.

Estonian AI-powered solution for energy control in commercial buildings (shopping centers, offices, and hotels) R8 Technologies raised investment from Japanese corporate VC Panasonic Kurashi Visionary Fund. 

Estonian company PP Partners exited from service for selling and buying ebooks Estonian Digital Book Centre (EDRK). It sold 8% to Baltic private equity fund BaltCap, which at the same time bought 35% of ERDK  from Lavigo, an Estonian company run by EDRK’s CEO Ain Lausmaa.

Estonian service for hotels and short-term rentals OTA Sync raised €1.3M in a seed round from Serbian accelerator Katapult, investment firm TS Ventures Fund, non-governmental organization DSI Group of Business Angels, Estonian accelerator Startup Wise Guys, and Californian accelerator Expert DOJO. The round was led by Czech investment firm Presto Ventures.

Lithuanian AI-powered reputation tracking software Repsense  raised €800K in a pre-seed extended round. The lead investor was Lithuanian Iron Wolf Capital. Coinvest Capital, Baltic Sandbox Ventures, and several business angels also joined the deal.

Riga-based bio tech Printy Med, which produces a product for 3D bioprinting and medical devices, received  €50K from Latvian Commercialization Reactor Seed Fund. 

Riga-based investment firm New Nordic Ventures backed a US solution for data storage Petabox . The amount of the financing is undisclosed, but at the initial stage, New Nordic Ventures usually invests from €200K to €300K.

Estonian investment firm Trind Ventures led the €330K pre-seed round of AI meeting assistant Wudpecker . Danish VC Accelerace and Finnish Sofokus Ventures joined the round.

Estonian accelerator Startup Wise Guys invested  in a Turkish AI tool for content creation and analysis Novus . The $500K round was led by Istanbul-based Inveo Ventures with the participation of US-based investment firms Venture Lane and Aegan Ventures.

Estonian Change Ventures invested in London-based adtech Drovo . The £3M round was led by venture capital trust Maven Capital Partners.

Jaan Tallinn’s fund Metaplanet invested  in Israel-based blockchain startup Fhenix . The $7M seed round was led by US investment firm Multicoin Capital and Israeli VC Collider Ventures. Tel-Aviv crypto VC firm Node Capital, crypto VC Bankless, HackVC, crypto builders incubator TaneLabs, and New York-based VC Robot Ventures also participated in the deal.

Lithuanian Ministry of Economy and Innovation will allocate €63M to launch new acceleration programs. The Ministry also announced that after signing a contract with the US startup accelerator Plug & Play at the beginning of October, other international startup accelerators showed an interest in working in Lithuania.

Latvian marketplace for escape rooms and immersive adventures Morty   raised  $2.2M. The US VC Protagonist led the round. California-based investment firms General Catalyst and Wedbush Ventures, San Francisco-based Marketplace Capital, US firms Animo VC, Unpopular Ventures, Wonder Ventures, and several angel investors also joined the deal.

Estonian Trind Ventures invested in the Danish service for short-term rental owners and property managers Your.Rentals . London-based crowdfunding platform Seedrs also participated in a €2,7M round.

Latvian biotech SpirulinaNord , which developed a technology for growing algae, raised  €600K from Latvian hardware and IoT startup accelerator Buildit , an unknown private investor, and the aquaculture grant program of Latvian state institution Rural Support Service.

Estonian Trind Ventures invested in Helsinki-based marketing and content creation platform  Boksi.com . The €7M round was led by Viena-based VC 3TS Capital Partners and Finnish investment firm Nexit Ventures.

Estonian Siena Secondary Fund acquired a stake in Estonian mobility unicorn Bolt . The investor who sold his stake and the amount of the deal are undisclosed. 

Estonian  intelligent building solution Bisly  raised €3,6M. The round was led by Belgium VC Aconterra, which focuses on investing in smart building technology. Estonian SmartCap Green Fund, Tallinn-based family office Pinorena Capital, US Second Century Ventures, London-based VC REACH UK, and several angel investors also participated in the deal.

Estonia AI-powered grid optimisation solution Enzum secured $120K from US-based accelerator Techstars.

Estonian Trind VC led  a €2.1M seed round of Webel , a Madrid-based on-demand services marketplace. Other investors were Czech ZAKA Ventures, Spanish Decelera Ventures, German investment firm Tiburon Ventures, and other business angels, including Hugo Arévalo, the founder of Spanish business school ThePowerMBA and an investor of Spanish-based startups Glovo and Playtomic.

Estonian accelerator Startup Wise Guys exited from Tallinn-based cyber tech firm  TRAPMINE , which develops anti-malware solution. TRAPMINE was acquired by a US cybersecurity company. The buyer undisclosed.

During first three quarters of this year Latvian startups raised €18,2 M. 13 deals were completed.

Estonian biotech Gearbox Biosciences raised  €380K from Estonian firm Specialist VC and UniTartu Ventures, an investment company of the University of Tartu.​ They were leading this round. Estonian investment company Amalfi, and business angels Johanna Britt Berzin, former government CIO of Estonia Siim Sikkut, venture partner at Finnish VC SuperHero Capital Ivo Remmelg, board members of EstBAN Robert Laud and Hugues Flament also participated. 

Estonian developer of supercapacitors (fast-charging batteries) Skeleton Technologies raised €108M in equity investment and debt. The financing was provided by Siemens Financial Services, which is a division of German manufacturer Siemens and Skeleton Technology's partner Japanese general trading company Marubeni Corporation. Estonian investment company MM Grupp, which is owned by Estonian millionaire and the owner of Eesti Meedia Margus Linnamäe, and Brazilian mining company CBMM also participated in the round.

Estonian VC Lemonade Stand invested  in the UK startup Fertifa , which provides reproductive healthcare services. A £5M seed round was led by London-based venture company Notion Capital and UK investment company Triple Point Ventures. US-based investment firms Conviction, and Tiny.vc, Austrian Calm/Storm, Swedish investor and incubator EQT Foundation, and business angels, including the founder of London-based carbon removal registry and science platform Isometric Eamon Jubbawy, participated in this round. Among existing investors are co-founder of UK fintech Monzo Tom Blomfield and others.

Latvian LongeVC invested in the US startup AOA Dx, which develops an AI-powered platform and a diagnostic test to detect ovarian cancer at the early stages. A €17M round was led by US Good Growth Capital. US investment firms RH Capital, Astia, Gore Range Capital, The Helm, VU Venture Partners, FemHealth Ventures, CANCER FUND, LabCorp Venture Fund (backed by healthcare company LabCorp), US accelerator Y Combinator, and Singaporean investment firm Adaptive Capital Partners also joined this round.

Estonian fintech Cino   raised  €900K from UK-based investment firm @atomico Atomico and Berlin-based Heartfelt_ (previously APX, backed by German media and technology company Axel Springer and carmaker Porsche).

Estonian accelerator StartupWiseGuys   invested  in a Turkish AI-powered price tracking solution for the brands and retailers Senkrondata . During the deal, the startup was evaluated at €3,4M. 

Estonian digital logistics platform MyDello   raised  €1,25M from lead investor Finnish Superhero Capital, President at Estonian mobility unicorn Bolt Yevgeny Kabanov, and existing angel investors.

Estonian agritech Paul-Tech raised €1,4M from lead investor Estonian VC Superangel, Estonian venture capital firms SmartCap, Honey Badger Capital, the Estonian Business Angels Network (EstBAN), Estonian company engaged in the sale and maintenance of agricultural machinery Tatoli, Latvian investment firm Overkill VC and some Swedish angel investors.

Estonian manufacturer of parcel machines and other robotic solutions Cleveron  will lay off 20% of its employees (38 employees) due to the shutting down of unprofitable business lines. According to the company, it refers to the challenging global economic situation, changing business strategy, and intention to improve profitability. Cleveron will focus on the European market and automation of retail trade. The company’s products can be found in 50 countries.

Marko Lastik’s shareholding at Estonian tax and customs company Eurora was seized due to the case in the Harju County Court. Marko Lastik and his partner Triin Lastik owned about 30% of Eurora through the private limited company Canderos Assets. In addition, on 28 September, Eurora applied for bankruptcy to the Harju County Court, explaining its lack of sufficient working capital to cover its obligations. It is worth noting that the startup raised $40M in 2022 from Amsterdam-based Connected Capital, Estonian investment firm Change Ventures, Tallinn-based company Equity United, and others.

Lithuanian Vinted Go, part of Vinted Group, has acquired Dutch delivery company Homerr. 

Lithuanian SaaS marketplace for mental therapists Tokitus  raised €125K in a pre-seed round from a Latvian network of private investors Venture Faculty. 

Lithuanian Contrarian Ventures led  the pre-seed round of Munich-based climate tech startup 42watt . According to public information, the deal is worth millions of euros. 

Venture capital firm Plural, co-founded by Estonian entrepreneurs Sten Tamkivi and Taavet Hinrikus, invested in Unitary . London-based early-stage VC Creandum was leading a $15M. Washington-based Paladin Capital also participated in the deal.

Estonian venture capital firm Tera Ventures invested  in the construction progress tracking platform AI Clearing . The startup raised $14M. The lead investor was New York-based VC Prudence. US VC FJ Labs, and Polish venture capital firms Inovo and Innovation Nest also participated in the deal. 

Cofounder of Lithuanian provider of digital security and privacy solutions for individuals and businesses Nord Security Tom Okman invested in the US AI-powered platform for application developers Poly API . London-based Dig Ventures led this pre-seed round. Mahau Ma and Sara Ali from the US, Akhil Paul from London, Julien Chaumond from Paris, Mirko Novakovic and Vikas Anand from Germany, and John Musser from Canada also participated in the deal. 

Lithuanian AI-powered marketplace Breezit , which connects event vendors with engaged couples, raised  $2M. Vilnius-based Practica Capital led the pre-seed round. Among the co-investors were business angels of the Lithuanian Business Angel Network (LitBAN).

Lithuanian provider of digital security and privacy solutions for individuals and businesses Nord Security raised  $100M at a $3B valuation. New York-based growth investor Warburg Pincus LLC led the round. Nord Security’s existing investors London-based growth equity fund Novator Ventures and Munich-based growth equity firm Burda Principal Investments also joined the deal.

Founded by Lithuanian entrepreneurs Dr. Tadas Jucikas and Viktoras Jucikas, Nashville-based (US) startup Genus AI raised $6M. Among investors were Silicon Valley-based digital advertising growth company Aleph Group Inc., founder and CEO of US-based customer data platform Treasure Data Kazuki Ohta, founder of Sweden digital marketing company Heep Agency Magnus Lundin, co-founder of Lithuanian dropshipping platform for Shopify eCommerce Stores Oberlo Tomas Slimas, and others.

Latvian marketing data analytics startup Roibox   was acquired by marketing technology company Jakala. According to public information, Jakala purchased 53% of the startup. Roibox’s founders saved their stakes.

Co-founder of Lithuanian unicorn Vinted Justas Janauskas participated  in a €3M round of German used furniture marketplace Cocoli . Amongst other investors were the venture arm of Spanish classifieds company Adevinta, Barcelona-based investment firm Ship2B Ventures, and Berlin-based IBB Ventures, a co-founder of French marketplace of used clothes and accessories Vestiaire Collective Fanny Moizant and CEO and founder of research company IPSOS Helen Zeitoun.

Estonian biotech ÄIO  raised investments from Helsinki-based fund Voima Ventures. The investment from the fund was part of a Series A funding round.

Estonian developer of rental property management software Bidrento  raised investment from accelerator Morgan Stanley Inclusive Ventures Lab and existing investors. 

Estonian cleantech accelerator Beamline  selected six startups for its online and on-site three-month program. The startups will receive €60K, including €25K worth of business development services, and mentors' support. The mentors are the CEO and co-founder of Comodule Cristjan Maruste, CEO and co-founder of Sunly Priit Lepasepp, co-founder of Roofit.solar Andri Jagomagi, adviser of the Prime Minister of Estonia as an expert member of the Research and Development Council Heidi Kokko and others. 

Lithuanian reg-tech for crypto markets Micapass  raised €170K from Vilnius-based innovation lab SUPER HOW? The investment was a part of the €240K round, in which Lithuanian accelerator Firstpick VC also participated. Firtspick announced  its €70K investment in Micapass during the pitch battle at the Lithuanian startup ecosystem event Startup Fair 2023. In addition, Firtspick selected Micapass for its third acceleration program. 

Vilnius-based sales automation platform AskToSell  raised €100K from Estonian accelerator StartupWiseGuys and Estonian venture capital firm Specialist VC.

Estonian startup Currynomics Labs, which develops real estate-backed digital currency, secured  €400K. The investors were Estonian producer and distributor of nutritional supplements Ecosh Life, Tallinn-based VC Impulse Generator Fund, angel investor and managing partner at Finnish IT consulting company Nordic Helios Pasi Pohjala, business angel Aleksander Denisoff, and COO at Austria-based fintech Salamantex Markus Pejacsevich.

Lithuanian accelerator and venture capital firm Firstpick  will invest in five startups during its third acceleration program, which will last for 14 weeks. The teams will receive investment worth €50K to €100K and support in increasing traction and revenue, preparing for the next investment round, hiring talents, and expanding the network.

  Estonian investment firm Superangel   opened an office in Stockholm to invest in Swedish startups. In 2023, it plans to make another five to eight investments in startups from the Nordic countries, one-third of which will be from Sweden. 

Estonian risk management platform Complok  raised €345K in a pre-seed round. Estonian Change Ventures and business angels invested €232K. Taavi Tamkivi (the CEO of Salv and a member of the Estonian Founders Society), Andres Mellik (a co-founder of the platform SpeakTX), Triin Kask (a co-founder at application Soulie, and a board member of Estonian Founders Society) participated in the deal.

Estonian technology company Nortal , which provides services of digital transformation, bought a London-based software development company Questers . 

Danish Nordic secondary fund acquired a stake at an Estonian technology company Cleveron  for €3,5M. Founded in Tallinn in 2007 by Arno Kütt, Cleveron offers robotics-based parcel terminals and last-mile click-and-collect pickup solutions for rental and logistics sectors. In addition to developing hardware and software, it also provides training, support, and remote and on-site maintenance to its clients worldwide.