BalticVC

Lithuanian startup CyberUpgrade , which has developed an AI-powered solution for enterprise security, has raised €2.5M in a seed round. The round was led by the Finnish Superhero Capital, with participation from Estonian Specialist VC , Lithuanian accelerator Firstpick , and a syndicate of investors from Lithuanian angel investment network NGL. Business angels Maria S. Kalochoritis and Sergey Anikin also participated in the round.

Lithuania's Ligence , which helps improve cardiac diagnostics, has raised €3M from a syndicate of 53 business angels NGL, Lithuanian Coinvest Capital , Estonian Lemonade Stand, a business angel Rita Sakus, Poland's Simpact Ventures, the European Innovation Council and SMEs Executive Agency (EISMEA). Following this investment, Coinvest increased its stake in the company to 19.67% and remains the largest investor.

Estonian customer service flow management platform Qminder has secured €3M in a seed round. The round was led by Lithuanian Practica Capital with participation from Jaan Tallinn’s Metaplanet, Latvian BADideas.fund, and angel investors from Toggl, Veriff, Pipedrive, Wise, and Twilio.

Goals and methodology of the survey The BalticVC team studied the startup ecosystem in Estonia, Latvia, and Lithuania for its Baltic Startup Survey. We sent questionnaires to startup founders from these countries.

Estonian accelerator and fund Startup Wise Guys has invested in Turkish AI-powered startup Lumian Energy , which provides energy management solutions.

TranferGo Lithuania will raise investment from Silicon Valley-based Hard Yaka Ventures. The amount of the investment was not disclosed. The deal has been approved by the Bank of Lithuania. Hard Yaka Ventures will indirectly acquire between 10% and 20% of the shares and voting rights in the company.

Tallinn-based marketplace for refurbished electronics Ringy has raised investment from Estonian  Trind Ventures and a number of Estonian companies. The amount of the deal was not disclosed.