Lithuanian accelerator and VC Firstpick will invest in 7 startups
Lithuanian VC firm Firstpick announced the launch of its second acceleration program. Its 7 selected startups will receive from €50K to €100K of investments per team and also support in order to increase traction and revenue, fundraise, and hire talents. The program will last for 16 weeks.
1. Doohoo is a Lithuanian marketplace that proposes unique gift ideas for pets.
2. Finfra, based in Jakarta, provides infrastructure and services for non-financial companies to integrate financial services (for example, lending) to their customers.
3. Furnisystems is a Lithuanian e-commerce platform for the furniture industry.
4. MBito is a Lithuanian application that offers to diagnose, fix, and do coding for Mercedes vehicles through a smartphone.
5. Psylink is a Lithuanian biotechnology company, which creates well-known and new psychedelic derivatives used in preclinical and clinical research to eradicate most mental health disorders.
6. Samphire Neuroscience is a London-based drug-free solution for PMS (Premenstrual syndrome), PMDD (premenstrual dysphoric disorder), and period pain, which is going to be released in 2023.
7.Tractorparts.eu is a Lithuanian marketplace that helps local agricultural machinery parts suppliers meet customers from abroad.
At the beginning of this year, Lithuanian startups Doohoo, MBito, and Tractorparts.eu participated in a pre-acceleration program of Firstpick.
Venture capital firm Firstpick was launched by an ex-Lithuanian team of Estonian accelerator StartupWiseGuys. Firstpick aims to support 45 startups over the coming three years. In its pre-accelerator, it offers to give €20K in grants per team. The volume of the fund is €20M. The capital consists of funds from private investors, the founding team, and an investment from the Lithuanian state-financed INVEGA fund.
