Three startups won prizes as equity investments of €345K at Lithuanian Startup Fair
Three startups won prizes as equity investments of €345K during the pitch battle at the Lithuanian startup ecosystem event Startup Fair 2023.
Lithuanian fintech startup Axiology received an investment offer of up to €125K from Lithuanian accelerator and investor Baltic Sandbox Ventures. Founded in 2018 in Vilnius by Marius Jurgilas, Axiology is a tokenized securities depository (TSD), based on blockchain technology. According to the company, its framework will allow businesses to issue, deposit, and account for tokenized financial instruments – securities, tokenized offerings, ESG derivatives, and more in a simpler way. The startup also received a €5K prize from Cloudvisor, a consulting partner of Amazon Web Services.
Lithuanian fintech Micapass won the opportunity to receive €70K investment and participation in the acceleration program of Lithuanian accelerator and early-stage investor Firstpick VC. Launched in Vilnius in 2023 by Gintarė Košubienė, Micapass is a fully decentralized on-chain compliance tool. It provides ongoing anti-money laundering screening and monitoring, meaning verifying identities, monitoring transactions, etc. The solution can be integrated with any DeFi protocol and allows users to remain anonymous.
Estonian Glassity won €150K of investment and an accelerator program of Estonian accelerator Startup Wise Guys. Founded by Jose Ernesto Suarez and Julia Fedosejeva, Glassity is an AI-driven B2B SaaS for cloud governance. It helps optimize, model, and architect cloud resources. The company solution provides visibility of cloud cost and usage, optimizes the infrastructure of enterprises, and automates cloud operations.
The winner of the pitch battle became the Estonian startup Vocal Image. Founded in Tallinn in 2021 by Nick Lahoika and Mikalai Karaliou, Vocal Image is an AI voice coach for improving communication skills and enhancing voice. According to the company, it can substitute voice training with a coach. The startup's software analyzes voice recordings using AI, and based on this analysis, it creates a personalized training plan.
Vocal Image received three prizes. First: participation in an acceleration program FLASH of an international startup campus Startup Terrace Taiwan. The second prize is one-year membership at the association Unicorns Lithuania. The third prize was worth of €7K - participation in a workshop and playbook and one month of weekly consultation from Vilnius hub SALT Sales.
The eleventh startup ecosystem event was held in Vilnius on September 7, 2023. The organizer of the event is Startup Lithuania, which is a division of Innovation Agency Lithuania. 140 pitch applications from 28 countries were received this year, and more than 400 investors joined the event. During Startup Fair's battle founders pitch in front of the investor jury and international audience.
