Lithuania tech weekly #44

Lithuania tech weekly #44

work in progress

  • The TV tower in Vilnius could house an EU cybersecurity centre, Lithuania's Defence Ministry has suggested in its bid to host the institution. We agree.
    • Cybersecurity will inevitably be on top Baltic agenda for years, and we need to continue building this security muscle
    • There is no shortage of top talent in the field - consider Tesonet (NordVPN), ProtonMail, Cujo AI, NRD Cyber Security and a number of other players.
    • That restaurant is no good anyways.
  • Vinted has two priorities right now - growth and growth. Just acquired their competitor in the Netherlands, United Wardrove (founders below) and adding 4 m to their combined customer base (34 m). Vinted valued at 1 B at latest series E round in 2019.
  • Trafi is making big moves in the new mobility environment. They recently closed sizeable series B round (Sifted reporting), expanding international presence and having Switzerland next (right after Berlin). Here's Martynas sharing Trafi lessons so far. MaaS market will certainly grow, but we all remain dependent on transport authorities and cities. Anne Hidalgo, please show us the way?
  • Get to know Attention Insight - AI powered marketing analytics startup, led by Kamilė. Part of Open Circle Capital portfolio. A blog post by Google for Startups.

rounds and capital

  • The Knotty Ones, cool and sustainable DTC brand, raised EUR 0.5 m for further growth. Business angels (Vladas Lašas, Ieva Zubavičiūtė, Erin Gainer-Grigaliūnė, Aidis Dalikas) + Coinvest Capital.
  • Practica Capital exited TVC Solutions, selling its stake to Broadcast Solutions Group (Germany). With this acquisition, TVC Solutions became a wholly-owned subsidiary of the Broadcast Solutions Group.
    • The same Practica Capital closes venture capital fund at EUR 28.5 m.
      • Finally - Swedbank Asset Management, the pension fund manager, committed €2M to the fund. it is the first-ever investment into an early-stage VC fund in LT.
      • Will do early-stage investments in the Baltics and Baltic-origin (e.g. Baltic diaspora, other Baltic connection) ventures in Europe, 500k - 2.5 m range. Portfolio already includes Ziticity, Oxipit, Eddy Travels or PVcase.

roleplay

  • A couple of early stage promising startups actively recruiting - Genus AI and ProtonMail (few locations).
  • GovTech Accelerator is looking to hire new lead, here. Passionate team and continues to build edge on where LT have had some traction - innovating public sector and regulatory arbitrage (think Fintech).

guides

What is the best list / resource of all Lithuanian startups? www.unicorns.lt