BalticVC

Lithuanian regtech AMLYZE has raised €2.35M in seed funding from Vilnius-based lead investor Practica Capital , with participation from Lithuanian FIRSTPICK, Coinvest Capital, which invested with CEO of Dokobit Gintas Balčiūnas, CEO and Chairman of DOJUS Group Donatas Dailide, and European Advanzia Bank. A syndicate of 33 business angels NGL also participated in the deal.

Lithuanian real estate technology platform Flanco has raised investment from a co-founder of a mobility platform Trafi Martynas Gudonavičius. The amount of the investment was not disclosed. According to the investor, he has joined Flanco as a significant shareholder. The size of the investment exceeds his average ticket size, which is about €30K- €50K.

Lithuanian AI-powered solution for sorting old LEGO bricks Sort a Brick has raised €1.15M in a pre-seed round from the lead investor Lithuanian VC and accelerator Firstpick with the participation from nine business angels, including a co-founder of Vinted Mantas Mikuckas. The deal includes €200K from Sort a Brick’s founders Ilya Malkin and Aurimas Slapsys.

Lithuanian marketplace for selling and buying used car spare parts Ovoko , operating under the brand RRR, has raised €20M in Series B. Los Angeles-based Smash Capital was the lead investor in the deal. Smash Capital partner Brad Twohig has joined Ovoko's board of directors.

Estonian developer of a platform for general practitioners and patients Certific has raised €700K from Lithuanian VC and accelerator Firstpick, Estonian Change Ventures , Berlin-based HEARTFELT_VC, and previous investors.

Lithuanian fintech Kevin , which provides payment solutions to businesses, has been declared bankrupt by the Vilnius Regional Court. Five plaintiffs, including AV Holding doo, Lithuanian AWS partner Cloudvisor and a solution integrator TeraSky Baltic, filed for bankruptcy proceedings against Kevin. After reviewing the evidence, the court concluded that the Lithuanian startup is currently insolvent and unable to meet its financial obligations on time.

Lithuanian geospatial startup AISPECO has raised €1.45M from angel syndicate NGL , and existing investors Finnish investment manager Innovestor and Superhero Capital. The NGL angel syndicate, which includes investors such as Linas Sargautis, Andrius Rupšys, Indre Dargyte, Šarūnas Račkauskas, Skirmantas Mačiukas and others, has invested €423K.

Lithuania's Practica Capital has exited Lithuanian medtech Softneta , in which it invested €1M in 2016. Softneta has become part of a group of healthcare IT companies in a portfolio of funds advised by investor Bregal Unternehmerkapital. As part of the deal, MedDream, a Softneta portfolio company that develops medical devices for processing, visualizing, and transmitting diagnostic medical data, has been spun off to form MedDream UAB. 

Lithuanian startup Kloosive has raised investment from Startup Lithuania Accelerator powered by Plug and Play. The amount of the investment has not been disclosed. 

Lithuanian Contrarian Ventures has invested in Belgian AI-powered software for power grids Beebop.ai. Contrarian Ventures and London-based Angular Ventures led a $5,5М seed round.

Lithuanian farm field management platform developer AgroSync has raised €140K from Budapest-based Fiedler Capital.

Lithuanian medicinal and edible mushroom producer Mishkay Biotech (formerly Pjaunu Gryba ) has raised investment from Lithuanian incubator and venture capital company Tesonet . The amount of the financing was not disclosed, but Tesonet tripled its investment, compared to the last year when Tesonet acquired a minority stake in the startup. In April 2024, the startup was reorganized as Mishkay Biotech, but in Lithuania it continues operating under the brand name Pjaunu Gryba.  Founded in Lithuania in 2021 by Aurelija Varne, Audrius Brazenas, and Tomas Varnas, Mishkay Biotech grows edible and medicinal mushrooms such as shiitake, lion's mane, eryngii, maitake, and others, from which it produces functional food supplements and food products. The production (farm) is located in the Molėtai District Municipality, about 65 km from Vilnius. The company does not use fertilizers in its production. Mishkay Biotech has already signed its first contracts with pharmacies and is cooperating ...

According to the Baltic startup funding report prepared by Lithuanian accelerator and venture capitalist Firstpick and Estonian Change Ventures, investments in Baltic startups grew by 82% in the first half of the year. Startups in the Baltics have raised €349.1M in H1 2024, comparing to H1 2023 when Baltic startups raised €192.3M.

  Lithuanian tactical transport aircraft developer Airvolve has raised €825K in funding from Lithuanian Coinvest Capital and Baltic Sandbox Ventures , as well as several angel investors. Coinvest Capital contributed €510K.

Lithuanian AI-powered digital math tutor Alfa Space has raised €315K from Lithuanian business angels. Founded in 2024 by Paulius Serva, Vilius Jastremskas, Tomas Sipko, and Emilija Platukite, Alfa Space is developing a personalized math tutoring platform based on artificial intelligence.  Alfa Space helps to coordinate the math learning process and answers students' questions. The virtual assistant also explains the rules and presents the solution to the task or the desired topic, including the topic of the VBE (standardized math exam for high school students in Lithuania). The platform contains motivational content, videos, theoretical presentations, and others. It can assess the child's skills, identify gaps, and shape the learning process. In addition, the platform provides recommendations for the development of specific skills. The Alfa Space platform can also be used by teachers for free lesson preparation, homework, test writing, and other functions. According to the co...

Estonian healthtech startup for faster drug development Elnora AI (ex-Nora AI) has raised around €95K from US accelerators Boost VC, Plug and Play Tech Center, and some business angels from Estonia.

BrachyDOSE has received a pre-seed investment from the Lithuanian Baltic Sandbox Ventures . The amount of the deal was not disclosed. 

Lithuanian AI-powered cybersecurity company CBRX (formerly Cyberalert) has raised €275K in a pre-seed round from Lithuania-based ScaleWolf VC and FIRSTPICK.

Lithuanian charging solution developer Inbalance Grid has partnered with Polish supermarket chain Stokrotka to install charging stations in Stokrotka -owned stores. The startup will invest in locations owned by Stokrotka. This partnership agreement marks Inbalance Grid's entry into a new market. 

Lithuanian B2B marketplace for home appliances, electronics, and DIY products Eany.io has raised €2M in a seed round of funding from Lithuanian fund Practica Capital and Poland's Market One Capital.