BalticVC

Latvian BADideas. fund invested in the Danish Insurtech startup Frankly Insure . The funding round took place in September 2025, but it became known only in January 2026. The amount of the investment was not disclosed.

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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.

Latvian fintech startup Upwood has raised €50K in seed funding from US-based ZAS Ventures .

The Latvian-founded stablecoin infrastructure startup Nodu raised 1.45M in the pre-seed round from Digital Space Ventures . This funding will help Nodu expand its global reach, strengthen its engineering and regulatory compliance teams, and strengthen partnerships with banks and financial companies. 

SAF Tehnika has announced the establishment of a subsidiary, SAF LATAM S.A.S., in Colombia, whose main task will be to provide South American customers with customized solutions in the field of wireless data transmission and sensors. SAF Tehnika owns 51% of the shares in the newly established company. SAF LATAM S.A.S. will be headed by Vladimir Rojas, who has more than 15 years of experience representing SAF Tehnika in the South American market.

Latvian startup Natrix , which develops modular unmanned ground vehicles, has received a €250K loan from SEB Bank . The funds will be used to finance the company's working capital.

Latvian technology company Digmatix (formerly Digital Mind) has signed an agreement to acquire Croatian consulting company DignetSoftware . The transaction will be carried out in stages over the next two to three years. The cost of the transaction has not been disclosed.

Latvian company TestDevLab has become part of US-based Xoriant , a global provider of engineering and technology services.

Latvian BADideas.fund has invested in Polish technology startup Juo . Other participants in the €4 million round included Market One Capital , Peak , SMOK Ventures , FJ Labs , and Lakestar .

Objective and methodology of the survey The BalticVC media team conducted its second study of the Baltic startup ecosystem, the Baltic Startup Survey. The partner of the survey became Yellow Rocks! The study was conducted in the form of a survey of startup founders from Lithuania, Latvia, and Estonia.

The Ministry of Economy of Latvia, The Financial Industry Association and the development finance institution Altum in cooperation with pension managers have agreed on the development of a new investment instrument – the Fund “For growth and protection”. 

Yellow Rocks! , a venture fund based in San Francisco and Lisbon, is exploring the Baltic market and looking to invest in promising early-stage startups. The fund is ready to invest in Baltic companies at early stages (pre-seed, seed, as well as follow-on investments at the Series A stage) with a transparent global scaling strategy. 

Latvian company Mapon , part of the Draugiem Group, is expanding its business in Europe by acquiring 100% of the shares in Irish company Envirokind Limited, known under the brand name Fleet Data .

Latvian artificial intelligence startup Convershake has raised €150K in investment from Outlast Fund .

Latvian company Echoo Group , which specializes in building automation and energy efficiency solutions, has joined Nordomatic, a major independent provider of building management systems services that operates in eight countries and has over 1,200 employees. The amount of the transaction has not been disclosed.

Members of the Latvian Business Angels Network ( LatBAN ) invested €120K in traveltech startup Rebookify . Another €80K was invested in the company by venture capital fund 500 Global.

Latvian AI startup Desktop Commander has raised €1.1M in pre-seed round from BADideas. Fund and 42CAP . 

Lithuania’s development bank ILTE and Latvia’s ALTUM have established the Baltic Capital Markets Acceleration Fund under the management of 1 Asset Management with total capital of over €50M.

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