BalticVC

  Estonian deep tech company SafePAS has received a €2.5M grant from the Enterprise and Innovation Fund (EIS) to further develop its DrugHunter rapid drug test. The grant was awarded on the basis of the European Innovation Council's (EIC) Seal of Excellence.

Estonian Yolo Group , which operates in the gaming, fintech, and blockchain industries, plans to lay off 280 employees at its subsidiaries. The layoffs will mainly affect Heathmont, which currently has 576 employees.

Lithuanian company Codigi has bought Aicore, a  specializing in AI and IT services for the manufacturing sector. The two companies have been working together for a year, and the merger will allow Codigi to integrate Aicore's solutions into its platform.

Tallinn-based defence-tech startup C2GRID has raised €300K from venture capital firm Sunfish Partners .

Latvian O utlast Fund has closed its first fund at €21M to invest in Pre-Seed and Seed-stage startups from the Baltic-Nordic region.

Estonian technology company Bisly , which offers solutions for smart building automation, has hired Tarmo Tali as its new CTO. He previously worked at Skype, Pipedrive, Starship, and Veriff. 

The Estonian fund Karma Ventures participated in a $31M Series С round for US-based AI company DRUID AI . Other investors include Cipio Partners, TQ Ventures , Smedvig Ventures , and Hoxton Ventures .