2021, different world | Lithuania tech weekly #1

2021, different world | Lithuania tech weekly #1

work in progress

  • Momentum for AR? Can't visit the store, can't touch the product - seems the interest in AR soared during the pandemic. Shopify says that interactions with products having AR content showed a 94% higher conversion rate than without. We look to hear good news from CGTrader, as well as Planner 5D, both actively hiring now.
  • We've all learned too much about other people's lives and private homes on Zoom already. Can Portoffice still find a market? Consider Framery from Finland - EUR 100m+ revenue, 3000% growth in 3 years selling.. phone booths for workplaces.
  • Ziticity had super busy Christmas, another leap of growth, and taking on more serious warehousing now. Also growing in Tallinn and Paris.
  • Rokas Golcas released a new book, where the title tells it all (if you know Lithuanian) - "Sėkmingos Google Reklamos Sistema"

rounds and capital

  • Fun to see some deeptech action happening - Droplet Genomics (already 18 people team) seem to have made a deal with Practica Capital, waiting for more details. The startup background story here.
  • After a seed from Justas Janauskas, Local Ocean is raising EUR 3.5 m - if you fancy #agritech or, at least, like shrimps. A large market for sure, with poor sustainability practices.

roleplay

  • PV Case in (Kaunas) learned that solar is going to be crazy cheap earlier than msny. So now they grow in the same manner - doubling the team and many openings, mostly sales.
  • Another rockstar, but in fintech - kevin., is looking to add CTO. Reach out to Agnė.
  • Tasker is hiring a CMO to drive it from regional to global player.
  • "Inspired COO" is needed at Bored Panda, but actually it is a company that inspires
  • Head of Content for Turing College
  • And you can always relocate to Riga as Sonarworks next Digital Marketing Manager.
  • Is joining a startup right for you? A simple yet very helpful video that explains startup stages, industries, and how to choose. Send this to your friend who's ready for a career move - she/he deserves a better opportunity.

founder guides

insights

  • Marketplaces Year in Review 2020
  • All the European startups where Peter Thiel has invested (quote a few and no Lithuanian)
  • Interesting interview with Uri Levine, who is convinced that Google's acquisition Waze for $1.1 billion inspired a wave of local startups to aim higher than ever before. "What was special about Waze was that for the first time there was an Israeli application for consumers with a brand name that everyone knew."
  • Benedict Evans calls the end of the American internet and the globalization of the Silicon Valley startup model.
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ecosystem

  • Another EUR 21 m allocated to Innovation Stimulus Fund - some new instrument that will be launched by Invega. Initially, it sounds like a mix of credit and venture financing, which is incoherent, to say the least. Coming back to the basics - we don't seem to have a money supply issue, but lack the capacity to turn it into productive use (financing outcomes VS assets, ability and motivation to commercialize science, and other problems).
  • Lithuania plans to launch an e-residency scheme in January, which will allow foreign nationals to set up companies, open bank accounts, and declare taxes online. "I'm A Believer" but let's wait until it hits the ground.

be warned

Back to AR. The deadliest game by far is Pokémon Go! This paper estimates that distracted Pokémon Go players led to 145,000 car accidents, injuring 30,000 people, killing 256, and leading to $2B-7.3B in damages over 148 days.