BalticVC

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

Estonian PowerUP Energy Technologies , which develops hydrogen fuel cell power generators, has raised €10M in a Series A round. The startup's investors include Mercaton , ScaleWolf , and SmartCap Green Fund , with participation from existing investors.

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 .

The members of the   Estonian Private Equity and Venture Capital Association  ( EstVCA ) have elected a new 11-member board of directors to lead the association until October 2027. Hendrik Reimand, founding partner of the venture fund 2C Ventures, who has been a board member of EstVCA since 2019, was elected as the new Chairman of the Board of Directors.

Starship Technologies , a developer of autonomous delivery vehicles, has announced the start of cooperation with Uber. At first, Starship robots will serve the Uber Eats food delivery service in the UK, and next year and in 2027 in several European countries and in the USA.

The Ministry of Internal Affairs of Estonia has again listed a number of companies that have exceeded the ten-year deadline and therefore can only be considered "startups" conditionally. One of them is now Veriff .

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.