In 2025 investment in Latvian startups grew by 190% to €73M
In 2025 investment in Latvian startups grew by 190% to €73M. However, the actual amount may be even higher, as not all companies have publicly announced their investments. In 2024, the amount was much more modest – around €25M.
This year, at least 18 startups attracted funding
The leader was Aerones, a provider of services for the production and maintenance of robots for the maintenance and diagnostics of wind turbines, which received €53M in investments this year (72% of total investment). The funds raised will be used to expand the company's market, research, and development in the field of artificial intelligence and robotics.
Other Latvian startups that received funding in 2025 included:
- Handwave, a biometric technology startup that raised €3.6M to roll out its payment and identification platform in Europe and the US.
- Trace.Space, which is developing an AI-powered requirements management platform for engineers developing industrial products, raised €3.43M.
- Biotechnology startup Cellbox Labs raised €3.3M in funding this year to develop four products.
- Nanocoatings startup Naco Technologies raised €2.5M for international expansion.
- Stablecoin infrastructure startup Nodu received €1.23M to create a unified payment network for more than 170 countries.
The list of companies that received funding from investors also included mental health platform Pleso Therapy, AI startup Desktop Commander, sports technology startup Tournated, financial technology Bonusukarte, artificial intelligence Theo, Hopted, energy Engycell, the financial technology POSfinance, the construction technology Adventum Tech, the tourism technology, the artificial intelligence Rebookify, the artificial intelligence Convershake, and the science-intensive ProtiumTech.
