Estonian AI platform EyeVi Technologies raised investments from Lithuanian fund Orion Ventures

Estonian geospatial AI-powered platform EyeVi Technologies raised investments from Lithuanian venture and private equity fund Orion Ventures. The amount of investment is undisclosed.

EyeVi Technologies was founded in Tartu in 2020 by Gaspar Anton. The startup offers an on-demand mapping technology based on artificial intelligence. It is used for the fast collection and processing of high-precision geodata, for example, in road maintenance, road engineering, and design. The technology can also make assessments of the location, type, condition, and height of traffic signs or measure area, width, markings, number of lanes, curves, inclines, and declines of the road.

According to Orion Ventures, it decided to invest in a startup because its solution is based on lidar technology (uses laser light to detect and measure distances of objects and targets), and it is nowadays being applied in the market quite often to analyze environmental objects. Besides, EyeVi Technologies plans to expand rapidly in the US, it has already established an office in Austin, Texas.

Founded in 2021, Orion Ventures is a finance department of Lithuanian investment banking firm Orion Securities, which has expertise in corporate finance, investment, private banking, capital markets, and wealth management. Orion Ventures invests in early-stage Lithuanian early-stage startups. It has Lithuanian developer of speech analytics software for customer services Oxus.AI, and Lithuanian developer of charging solutions for smart electric cars Inbalance Grid in its portfolio.