BalticVC

Vilnius-based crypto exchange Monitok  has raised €420K in a pre-seed round. from a certain Singapore-based investment firm. According to the company, the funding gives it a valuation of €10.5M.

  Lithuanian enzyme company Biomatter has raised €6.5M in a seed funding round. Finnish fund Inventure and German UVC Partners were the lead investors. Existing investors Lithuanian Practica Capital and Estonian Metaplanet also participated in this round.

Bourgeois Boheme (BoBo), an AI-powered fintech company, has raised a €6.5M seed round led by Austrian investment firm Graphit Lifestyle.

Gintare Verbickaite-Baciuliene, former head of the technology sector team at state investment promotion agency Invest Lithuania, has been appointed as the new CEO of Unicorns Lithuania.

Teltonika Group received €20M for the construction of an electronics assembly plant in the Teltonika High-Tech Hill technology park in the Liepkalnis district of Vilnius. Swedbank, which operates in Sweden and Baltic countries, and SEB bank, headquartered in Sweden, lent Teltonika €10M each to implement the project. The plant will design and manufacture IoT products. 

The P2P lending platform Finbee has raised €35M from London-based investment company Pollen Street Capital. 

Lithuanian Granta Autonomy , which specializes in autonomous drones for intelligence, surveillance, and reconnaissance, has raised €1 million in seed funding. The round was led by Lithuania-based ScaleWolf . Lithuanian Brolis Defense and US-based HFL Holdings also participated in the deal.

Lithuanian Financial Crimes Investigation Service (FNTT) has fined Lithuanian cryptocurrency company Payeer  €9,3M for violating EU sanctions and money laundering.

Lithuanian repair marketplace Tiings has raised investments from Lithuanian accelerator Firstpick, Latvian BADideas.Fund and Czech PurposeTech. 

Lithuanian blockchain-based fintech company FreeBnk   has raised $3M. American ChaiTech Ventures and Lavender Capital, Australian LVT Capital invested in the startup.

Lithuanian fund 70V has exited from the Lithuanian accounting services provider and business management system for small and medium-sized enterprises RoboLabs . The startup's new owner is a Norwegian serial acquirer of business software company Hawk Infinity.  

Lithuanian virtual cash register system for small and large businesses Virtualikasa.lt , developed by digital marketing agency Brand Lions , has been acquired by Lithuanian fintech Paysera . The amount of the deal is undisclosed.

Lithuanian Contrarian Ventures has been one of the lead investors in French logistics electrification and energy management service provider Decade Energy , with the €3.6M seed round also co-led by Munich-based Ananda Impact Ventures.

Lithuanian healthtech startup  Spike   has raised $3,5M in a seed round from the lead investors Lithuanian Practica Capital and Miami-based VC TheVentureCity. Florida-based CEAS Investments, US accelerator and fund Plug & Play Ventures, New York-based Geek Ventures, and Berlin-based Axel Springer Porsche also participated in the deal. 

Lithuanian social networking application developer Joiner App has raised €500K from Lithuanian private business angels and advertising agency Ogilvy Vilnius and law firm Motieka and Audzevich. The post-money valuation of the startup is €4M.

According to the StartupBlink Global Startup Ecosystem Index 2024, the Baltic States ranked among the top 50 best countries to found a startup. Estonia became a leader in the Baltics, taking 12th place, moving up two places from last year. Lithuania also moved up one place to 16th in the ranking. Latvia has dropped eight places to 47th.

Lithuanian AI-powered B2B-sales platform Evergrowth  raised €500K from the founder of Danish online review platform Trustpilot Peter Holten Mühlmann. It is an extension of the €2M pre-seed round that was announced in February 2024. 

Estonian Specialist VC and Estonian Business Angels Network (EstBAN) have invested €1M in three startups at the Latitude59 Pitch Competition 2024, which took place in Tallinn on 22-24 May.

The Baltic deeptech startups have raised over €164M in almost five months of 2024, while, in total, the Baltic startups across all the industries have raised €310M in the same period. Most of the investments for Baltic deeptech startups came from C rounds (€40-100M).

Lithuanian developer and manufacturer of unmanned aerial vehicles Unmanned Defense Systems has raised €3,2M. The company has received €900K from Lithuanian Coinvest Capital, and €700K from a group of LitBAN business angels (including €400K from Lithuanian syndicate of investors 2NGLS). Investors from LitBAN include the organization's board members Vladas Lašas, Rita Sakus, Martynas Kandzeras, Gytenis Galkis, Giedrimas Jeglinskas, Šarūnas Račkauskas, Paulius Vilemas and Linas Sargautis. Vytenis Buzas and Ernestas Kalabuckas invested €1,1M in the round and joined the team.