BalticVC

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

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.

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.

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.

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

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.

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.

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.

Latvian company Aerones , a provider of robots for wind turbine maintenance and diagnostics, has raised $62M in investment. The round was led by venture funds Activate Capital and S2G , with participation from Carbon Equity and Overlap Holdings . Aerones' existing investors also participated in the investment round.

Exonicus , a Latvian company developing augmented reality trauma training for defense and emergency medical services, has raised an investment of €85K from the Latvian Business Angels Network ( LatBAN ). This is LatBAN's first investment in a dual-use company.

Fintech startup POSfinance has raised €140K in an expanded pre-investment round from Latvian business angel network LatBAN .

Latvian construction technology startup Adventum Tech , will receive an investment of €250K from the Latvian Business Angels Network ( LatBAN ) and angel investors. Lithuanian defense technology company Luna Robotics will receive up to €250K from the Lithuanian Business Angel Network ( LitBAN ), Estonian developer of green energy solutions MarkeDroid will receive €175K from the Estonian Business Angel Network ( EstBAN ).

According the annual survey of Baltic Private Equity and Venture Capital Market Overview 2024 from KPMG , fundraising activity decreased to €265M (down 67% year-on-year). This is after two outstanding fundraising years in 2022 and 2023, when Baltic fund managers raised more than €1.5B. 

Latvian company Digmatix (formerly Digital Mind) has signed an agreement with Estonian technology company BCS Itera to acquire 100% of its shares. The deal will bring together two regional Microsoft solutions partners, helping to increase Digmatix's competitiveness in the region, as well as expand its solution offerings in the manufacturing, retail, financial and human resources sectors.

Baltic companies that have contributed to the development of financial technology in the region have been honored at the Baltic Fintech Awards 2025.

NRG Solutions, a company specializing in space technologies, has become a participant in the support program of the European Space Agency Business Incubation Center ESA BIC Latvia . It is the first company accepted into the incubation program, which plans to support at least 12 startups over five years.

Latvian fund LongeVC has invested in Cambridge-based biotech startup Constructive Bio . 

Details of the deal in the course of which Estonian fund Change Ventures acquired  7.4% of Latvian energy startup Engycell have become known. The startup has raised €420K, consisting of an initial investment of €250K from Change Ventures and €170K from European Union funds.

Latvian venture fund LongeVC  has invested in US medical startup SiPhox Health , which produces home blood test kits.