BalticVC

Lithuanian SpringWater has announced its official launch and first investment in Romanian company FirstPromoter .

Estonian company UP Catalyst has signed a partnership agreement with Finnish paint manufacturer Teknos . UP Catalyst will use its technology to convert industrial CO₂ emissions into high-quality carbon materials for paints and coatings.

Estonian state-owned company SmartCap and the European Bank for Reconstruction and Development (EBRD) acted as lead investors in the Siena Secondary Fund II private equity fund, investing €10M each.

Ukrainian SaaS startup Uspacy has raised €420K in pre-seed funding. The round included €250K in investment from Startup Wise Guys , supported by business angels. An additional €170K was received in grants from Google for Startups, Seeds of Bravery, Glovo Startup Lab, and the Ukrainian Startup Fund, supported by UMAEF.

Venture capital firm Plural , founded by Estonian entrepreneurs Sten Tamkivi and Taavet Hinrikus, has led a €34M round for Bristol-based Phasecraft , a quantum algorithms company. Other lead investors included Playground Global , Novo Holdings’ Quantum Fund with the participation of some existing investors.

Estonian AI platform Vocal Image has raised $3.6M in its initial round. The round was led by Educapital , with participation from Specialist VC and Generations Fund .

  Uve Poom is the new Chief Operating Officer of Estonian startup CryptoSwift . Previously, he ran Tenity Tallinn, a venture capital fund center in Zurich, where he advised fintech companies such as CryptoSwift.

Latvian sports technology company Tournated has raised $750K from Scandiweb , Asian sports club Shijiazhuang Chaofeng Sports and an international padel organization.

Estonian technology company Datel has signed a contract with the European Space Agency ( ESA ) to develop elevation models based on space radar remote sensing data. The aim of the project is to create accurate and up-to-date digital elevation models that can be used in a wide range of applications, from environmental monitoring to infrastructure planning.

Estonian Bolt has entered the market of Kazakhstan. This is the first expansion in the company's history in the country from Central Asia. Bolt scooters appeared in Almaty, Kazakhstan's largest city, amid demand from residents for a more environmentally friendly mode of transportation.

Estonian fintech company Creem has raised €1.8M from Practica Capital and backed by Antler and leading business angels.

Latvian Startup Association Startin.lv has a new CEO. Roberts Alhimionoks will now lead the association. The former CEO, Olga Barreto Goncalves, worked at Startin.lv for almost four years.

The Estonian government will invest €50M over 4-5 years in a venture capital fund managed by the national investment fund SmartCap . This year, €17M from the state budget will be channelled into the Risk Capital Fund, while in the following years €32.2M will be channelled into the fund from the Baltic Innovation Fund 2 and EstFund repayments.

BetterPic , an Estonian startup focused on image processing using artificial intelligence, has secured $2.5M in seed funding. The round was led by MOC Capital and Shilling VC , and also included investors from the technology and fashion sectors such as founder of Showpad and CEO of Wintercircus Ghent Louis Jonckheere, Matthias Geeroms of Lighthouse, Joris Van Der Gucht of Ravical, AI agency Hyperson, and Severine Nijs of Jackie Lee.

Tallinn-based venture capital company Unmanned.vc has joined the Estonian Business Angels Network ( EstBAN ). This gives EstBAN access to a highly specialized fund with experts in the fast-growing dual-use sector.

Estonian venture capital funds SmartCap and Skaala have invested in a new Stockholm-based fund Norrsken Evolve , a rebranding and expansion of investment company Norrsken Accelerator.

Silen , an Estonian office pod company, plans to open a factory in the U.S. in 2026.

Estonian developer of cancer diagnostic solutions Better Medicine raised €1M in a pre-seed round led by Soulmates Ventures , Specialist VC , UT VENTURES , and several angel investors.

In the first six months of 2025, e-residents and the companies they established contributed €68M to the Estonian state budget. This is twice as much as in the same period in 2024.

Lithuanian high-tech startup GREÏ has raised €650K in pre-seed round from investment company FIRSTPICK .

Estonian Trind Ventures participated in a €2M round for Spanish technology company Hamelyn . Other investors in the company included Inclimo Climate Tec h and business angels.

Estonian startup MuRayTech has raised capital in its first round of investment, led by venture capital fund Nordic Science Investments . Peaksjah from Estonia and a Swiss investor with experience at the European Organization for Nuclear Research (CERN) also participated in the investment.

Latvian biotech startup Cellbox Labs has raised €3.3M to further develop its product portfolio. Part of this funding comes from government support as part of the Tech4Cure project.

Bisly , an Estonian developer of IoT sensors for living and working environments has raised €4,3M. The funding round was led by 2C Ventures with participation from business angels from SmartCap, Aconterra, Pinorena, and Foxway.

Salaries in Lithuanian startups increased significantly in the second quarter of 2025, exceeding €4.6К per month, according to data from the association Unicorns Lithuania . 

Estonian renewable energy startup Sunly has raised almost €85M in international financing for the development of solar energy projects in Latvia. The company will receive €35.2M loan each from the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), as well as €14.4M from the Swedish bank SEB .

Latvian next-generation biometric startup Handwave has raised $4.2M. The funding round was led by investment firm Practica Capital and with support from FirstPick , Outlast Fund and Inovo.vc .

Latvian BADideas.fund participated in the €1.2M round of Ukrainian mental health treatment platform Pleso Therapy . Other investors include TA Ventures , Vchasno.Group and Ukrainian world boxing champion Oleksandr Usik.

Lithuanian biotech startup Psylink has raised €501,521 in pre-seed round from Coinvest Capital with participation from Firstpick , BSV Ventures and a group of business angels.

Spanish energy company Repsol has acquired a 3,6% stake in Stargate Hydrogen , an Estonian company developing technology for efficient and cost-effective hydrogen production. 

Estonian venture fund Superangel has participated in a Seed round of €7.5M for Munich-based defense startup Project Q . Other participants in the round are Project A and Expeditions Fund .

Estonian fintech startup Tuum has announced a partnership with London-based payment processing platform Solidgate . Together they are creating Solidgate Treasury, a solution that will provide online companies with global access to payment systems such as SEPA and SWIFT.

Estonian-founded investment platform Lightyear has raised $23M in Series B. The round was led by NordicNinja . Lightspeed Venture Partners , Metaplanet , Skaala , Superangel , SpecialistVC , Sir Richard Branson, Taavet Hinrikus from Wise, Markus Villig from Bolt also participated in the round.

The Ministry of Economy and Innovation together with the Ministry of National Defense of the Republic of Lithuania is allocating €40M to the defense investment fund MILInvest .

Estonian drone manufacturer Threod Systems is looking for a new owner for its business amid growing demand for unmanned systems. The startup's team is already working with consultants to gauge interest from potential buyers, which could include major European defense companies.

Teletactica , an Estonian defense company, has raised $1.5M from MITS Capital and Green Flag Ventures . The company plans to expand its services to other European countries with the help of these funds.

Estonian company Nortal has acquired Nearsure , a U.S. software company with a customer base in the U.S. and more than 600 employees in Latin America. According to company representatives, this is the largest acquisition in Nortal's history and strengthens its presence in the U.S. market.

The Lithuanian venture capital fund Coinvest Capital participated in the preliminary round of financing of the startup Starflight Dynamics . In total, the Munich-based company raised almost €2M: €750K from Coinvest Capital, the rest of the funds came from business angels, including founding members of the newly created Committee on Space and Defense within the European Business Angel Network (EBAN).

Cristobal Alonso has left the post of CEO of Estonian Startup Wise Guys after almost ten years of work. The post will be taken up again by the company's founder Herty Tammo. There are other personnel changes at Startup Wise Guys: Priit Uustulnd will become the new COO and partner, and another new partner, Dag Ainsoo, has joined the company.

Estonian deeptech startup Jälle Technologies has secured €2M Pre-Seed funding. Part of the funding came in the form of a grant from Enterprise Estonia (EIS ) and the Environmental Investment Center (KIK), while the rest came from Kiilto Ventures , 2C Ventures , and the participation of business angels Andrus Purde and Priit Viru. 

Igor Matsanyuk, founder of Lithuanian Game Insight, accuses bankruptcy trustee Denis Kachura and the Russian judge handling the company's bankruptcy proceedings of being part of a group that engaged in illegal activities. This he claims in a letter to the Federal Tax Service of the Russian Federation.

Members of the Latvian Business Angels Network ( LatBAN ) jointly invested €500K in two funds Buildit VC and Outlast Fund . 

Tallinn-based venture fund Superangel has participated in a round for the British defense technology company Kraken Technology Group . Other participants in the round are the NATO Innovation Fund (NIF) and the UK National Security Strategic Investment Fund (NSSIF).

BrachyDOSE , a Lithuanian medical technology startup, has raised €554K. The funding round was led by Coinvest Capital with participation from BSV Ventures and business angels from the LitBAN and EstBAN networks. BrachyDOSE will use the raised funds to test its radiation measurement technology in clinical settings.

Estonian basketball fan engagement platform Scorestars is shutting down after four years of operation. According to co-founder Marek Kesküll, after changing their line of business, they failed to attract their first paying customer fast enough, which made it impossible to continue operations.

The Defense Fund, managed by the national fund SmartCap , has invested  €10M in Darkstar , Estonia's first defense technology venture fund. SmartCap's investment of €10M in the Darkstar venture fund will act as an anchor investment, and private investments will bring the total size of the fund to €25M.

Four Estonian space technology startups, Babayte , Spiral Hydrogen , MS Forest and Energy Risk Service, will receive funding of €240K - €60K each. Half of the funding will come from the European Space Agency ( ESA BIC Estonia ) and the other half from the cities, depending on the location of the startup.

The Latvian Investment and Development Agency ( LIAA ) will allocate more than €18.5M to finance a new program to support the digitization of local companies.

In the first half of this year, Lithuanian startups attracted €167.7M in investments - 5 times more than in the same period last year. While the amount of investment has increased significantly compared to the first half of last year, when a total of €32M was raised, the number of startups that received it has dropped by 12% to 15 companies, according to data tracked by Unicorns Lithuania , a Lithuanian startup association.

Estonian startup CryptoSwift has raised €510K in a pre-seed round. The round was backed by early stage investors Startup Wise Guys , Tenity , DEPO Ventures and a group of business angels. CryptoSwift will use the funds raised to expand its team and accelerate the adoption of its platform in the EU.

Estonian electric cargo bike manufacturer Vok Bikes has raised a $6M investment. The Series A funding round was led by SQM Lithium Ventures . Existing investors Metaplanet , Specialist VC , Sunly and SmartCap also participated.

Estonian medical technology startup Lifeyear has raised €1.3M from venture funds Verge HealthTech Fund , Tilia Impact Ventures , PurposeTech and Estonian business angels. The company received another €1.5M in technology development grants from the Estonian government. Lifeyear will use the raised funds to launch its digital platform for cardiac care in selected UK hospitals.

Lithuania's Firstpick has led a $600K Pre-Seed round for US AI startup Skarbe . Other investors in the company were Somersault Ventures and business angels Andreas Michalowitz and Jeroen Van Ermena.

Estonian design startup Flowstep has received $2.6M in Seed funding. Supernode Global led the funding with participation of Adesso Ventures , Angel Invest , Dnipro VC , Iron Wolf Capital , Tera Ventures , Specialist VC and business angel Anton Borzov.

The Estonian venture fund Plural invested in Metaview, a UK-based artificial intelligence startup looking to modernize the recruitment process. Metaview raised $35M in a Series B round led by Google Ventures . Other investors in the company included Vertex Ventures US , Seedcamp , Coelius Capital , True Equity and angel investors Victor Riparbelli and Barney Hussey-Yeo.

The Estonian venture fund Plural participated in the financing round of the German defense startup Helsing in the amount of €600M. Other investors of the company are Prima Materia , Lightspeed Ventures , Accel and General Catalyst .

Estonian venture company Yolo Investments has completed raising €100M for its flagship Fund II. The fund raised €50M of external capital and another €50M from Yolo Group. It has 23 investors. Yolo Investments announced the launch of a new fund in 2023. 

Lithuanian  Oxylab has bought French company ScrapingBee . The acquisition involved an undisclosed eight-figure sum.

Lithuanian technology startup Traxlo has raised €1.6M from Coinvest Capital , Bad Ideas Fund, Plug and Play , NGL , DEPO Ventures , and existing investors. The funds will be used to expand the startup's infrastructure in Central and Eastern Europe.

Estonian Karma Ventures participated in a €10M round for Finnish SaaS company Swarmia . DIG Ventures and business angels also participated in the round, including Romain Huët (Open AI’s head of developer experience) and Cal Henderson (co-founder and former CTO of Slack).

  Estonian programming school //kood opened its offices in Ukraine and Kenya with the support of the Estonian Service for International Development ( ESTDEV ). In Ukraine //kood cooperates with Zhytomyr Polytechnic University, and in Kenya the partner is GreatWell Training College in Nairobi. 

Estonian energy startup Gridraven has signed a contract with Finland's national grid operator Fingrid . Gridraven's software will increase the capacity of the country's existing transmission lines by 30%.

  Plural , a venture capital firm founded by Estonian entrepreneurs, has invested $8.5M in technology startup Sunrise Robotics .

Paynt , a payment technology company, has bought Canadian company E-xact Transactions . The acquisition of E-xact, which processes more than CAD 3.5B in more than 50M transactions annually, will create a new operations center in Vancouver, Canada.

Climate finance company InSoil has signed a €100M partnership agreement with Canadian investment firm Key Carbon . With the new investment, InSoil plans to expand its international carbon farming program to 1M hectares by the end of 2026.

Pactum , a developer of AI agents, has raised around €47M in a Series C, organized by Insight Partners .

Lithuanian artificial intelligence startup Sintra has raised €14.9M in a Seed round. The round was organized by Earlybird VC with participation of Inovo , Practica Capital and renowned business angels Mantas Mikuckas from Vinted and Einaras von Gravrock from Cast AI. Sintra will use the raised funds to further develop its products and expand its development and engineering team.

Viangoo , a Latvian digitization and bulk delivery platform, has received €550K from Swedbank . The company received part of the funds from the Latvian development finance institution ALTUM . Viangoo will use the funds to provide working capital, fund development and expand the functionality of the app.

The fintech company Wise , founded by Estonians Kristo Käärmann and Taavet Hinrikus, has decided to transfer the main listing of its shares to the New York Stock Exchange. The company has been listed on the London Stock Exchange since 2021. According to the plans, Wise shares will be listed on two exchanges.

Tallinn-based Lendurai , a dual-use technology startup, has raised €5.57M. The round was organized by the Expeditions Fund with the participation of HCVC and Vsquared Ventures .

Venture funds Plural and Superangel participated in a $20M Series A round for UK technology company Labrys . Other investors included AlbionVC as well as existing investors. Labrys will use the proceeds to further develop its proprietary Axiom platform.

Lithuanian  Iron Wolf Capital has announced the launch of its second €100M seed stage investment fund. The fund will support high-tech startups in industries such as artificial intelligence, robotics, photonics and space innovation in 25 early-stage companies in Estonia, Latvia, Lithuania and the Baltic States.

FPRO , a startup specializing in sports technology, has raised €2M from Lithuanian venture fund Tesonet . The raised funds will help the startup to expand the use of its smart technology solutions in youth soccer around the world.