Latvian BADideas.Fund invested €100K in Squad Robotics

Latvian BADideas.Fund invested €100K in Latvian cleaning robots technology Squad Robotics. According to the public source of information, the deal was closed in December 2022.

Squad Robotics was founded in Riga in 2018 by Matiss Brunavs. The startup develops software that gives manufacturers of floor-cleaning machinery the technology they need to make their machines into robots. The software allows localization, indoor GPS with 4cm precision, and also monitoring of the cleaning process, and make machines autonomous. The autonomous machines are able to communicate with each other and work together in teams, which ensures redundancy and better fleet management. The monitoring system tracks equipment indoors, creating reports on in-use and idle time, routes, speed, and a map of cleaned and uncleaned spots.

BADideas.fund is a Latvian fund, which started to invest in April 2022. It focuses on pre-seed and seed-stage startups from Baltics and CEE region. The typical ticket size is €100K. It has already invested €1,2M in 11 startups. The fund has more than 40 business angels, founders, executives, and employees of Bolt, Vimeo, Printify, PandaDoc, Pipedrive, and others.