Lithuanian open data service Okredo raised €245K

Lithuanian open data service Okredo raised €245K from Lithuanian Business Angels Fund and six business angels of Lithuanian Business Angel Network (LitBAN). One of LitBAN's angels was Darius Antanaitis, CEO at the developer of autonomous hybrid vehicles Ostara.

Okredo was launched in Vilnius in 2015 by Gerda Jurkoniene, Jaunius Skierus, and Dalia Mazeikaite. Okredo provides data for assessing business partners (automatically calculated credit limit, credit score, company value, financial ratios, and sanctions searches supplemented with relevant articles and international reports). The company has already operated in Estonia, Latvia, Lithuania, Poland, and UK.

Business Angels Fund is a Lithuanian fund for supporting early-stage Lithuanian startups. The core investor of the fund is the Lithuanian state-owned company INVEGA. It co-invests with a business angel(s) on an equal basis with a ticket size of up to €600K. Until the end of 2023, the fund will invest through Business Angel Fund II, which has already backed 18 companies at €14M. The latest investment is charging solutions for smart electric cars Inbalance Grid.

Lithuanian Business Angel Network (LitBAN) is a group of business angels, united for investments in early-stage startups. LitBAN was founded in Vilnius in 2017.