Estonian company SafePAS raises €700K
SafePAS has announced that it has raised a first round of investment of €700K. The company has received support from BSV Ventures, Securetec Detektions-Systeme AG, EstBAN, PurposeTech, Beamline and Lanmer. According to the company, the funding will help accelerate the time-to-market of the products SafePAS is developing.
SafePAS develops handheld devices that provide on-site analytical results at a lower cost than traditional laboratory tests. Among the company's main products are Drug Hunter, which enables rapid drug detection, and SMAGRY, which analyzes nutrient levels in soil. The company was founded in Estonia in 2015. Founders: Jekaterina Mazina-Šinkar, Jelena Gorbatšova, Evelin Halling.
BSV Ventures (formerly Baltic Sandbox Ventures) is a venture capital fund specializing in investments in high technology, biotechnology and dual-use technologies in the Baltic States and the rest of Europe. The fund was founded by Sandra Golbreich, Andrius Milinavičius and Erik Bhullar in 2022 in Lithuania. Last year fund has raised $15M from NATO Innovation Fund (NIF), Lithuanian ILTE fund (ex-Invega). BSV Ventures has offices in Lithuania, Estonia and Finland.
Securetec Detektions-Systeme AG is a company that develops technologies for the detection of drugs, explosives and hazardous substances. The company was founded in 1995 and is headquartered in Neubiberg, Germany.
Founded in 2012, EstBAN is a syndicate organization of angel investors. The lead investors are Martin Gorosko and Mait Sooaru. EstBAN's members include Estonian Change Ventures and Tera Ventures, Lithuanian Practica Capital and Firstpick, Nordic Secondary Fund from Denmark, and others.
PurposeTech is a pre-seed fund that supports technology startups in Central and Eastern Europe. The company was founded in the Czech Republic in 2023 by Zdenek Fred Faus in partnership with the Impact Hub network.
Launched in 2021 in Estonia by Indrek Kedler, Karl-Joosep Pärtel, Kadri Piho, Erki Ani, and Trin Vilvere, is a subsidiary of Cleantech Estonia, a non-profit organization specializing in early stage clean technology startups. It provides incubation, acceleration and connection to investors, partners and the public sector.
Lanmer is a company that provides clinical trial monitoring services and distributes research and medical solutions in the Baltic region. The company was founded in 2014 in Tartu, Estonia.
