Venture Faculty latest news

  • 2023-03-13

The month of March is here, meaning that spring has finally arrived. Longer sunny days mean more time in the daylight and more time for activities and events, and the main Baltic scene events are about to begin, so let's take a look at what news the last winter month brought to us.

Industry News:

- Our friends ECOM'21, one of the main region FinTech and eCommerce events is quickly approaching us! The event will happen on April 12-13 in Hanzas Perons with a unique program this year. Do not miss your chance to be a part of this amazing event by using our promo code VENTURE For 30% Off Your Ticket.


- The countdown until the launch of the European Unitary Patent system has begun. The new one-stop-shop basis patent system will launch on June 1, 2023, meaning more effective protection of your Intellectual Properties. See the countdown clock and more information here.

- Riga Municipality continues to show support for our startup ecosystem. This time the Investment and tourism agency of Riga has announced 3 new support programs totaling EUR 355 thousand, to learn more about them, read here in Latvian.

- Latvian FinTech company Sun Finance continues to show a strong foot on the ground by becoming a part of the Financial Times 1000 European fastest-growing companies list for the third consecutive year. To learn more about it, read here

- Longenesis has made it to the Entrepreneurship World Cup top 100, which will take place from 10 to 12 March in Riyad, Saudi Arabia. Last year Latvian got in the top 25, so it will be interesting to see whether Longenesis will be able to achieve even better results and bring Latvia's name even further, read the release.

- One of the main events of the Baltic startup season (read about this year's events in our article) will take place in Tartu from 15 to 17 March. Among participants, there will be 5 Latvian startups: Bruntor, TerraWaste, Sepsiscan, SimpleCharge, and Peero. To learn about the event, past successes, and participating startups, read the article in Latvian.

- Latvian company-as-a-service solution provider Abillio has just announced its expansion beyond the borders of Latvia. The company will now allow writing invoices from anywhere in the world for euro payments. Read the article

Latest deals: 

- Latvian Artificial Intelligence startup Trace.Space just announced a EUR 1.5 million pre-seed funding round, which makes it the largest such stage funding round in the Baltics ever. The startup is building AI-powered tools for engineering product development to help improve the productivity of the process by up to 10 times. Read more about it here.

- Estonia-based car subscription startup Planet42 just announced the closure of a EUR 100 million fundraising round from investors including Naspers, ARS Holdings, and Rivonia Road Capital. The funding will be used for global expansion. Learn more here.

- Estonian startup ÄIO landed a EUR 1 million investment. The startup aims to create edible alternative oils and fats, which are developed from agricultural and wood industry sidestreams. Read more

- FinTech startup from Estonia, Coinmetro just announced a EUR 4 million acquisition of Ignitium. Ignitium is a block-chain based fundraising platform for SMEs, using NFTs. The acquisition will allow to expand Ignitum's offering and create a first-of-its-kind solution in the market. Read the article.

- Lithuanian Inbalance grid secured a EUR 1,5 million investment. The startup develops electric vehicle charging solutions based on the existing electrical capacities for businesses and grid operators, and will use the funding for further development of the product. Learn more here.

- Data analytics startup Repsense from Lithuania has secured a EUR 500 thousand investment ticket. The startup will use the funding to scale globally its data analytics product for business brand enhancement.  Read more in the article.

"Chase the vision, not the money, the money will end up following you." — Tony Hsieh

Venture Faculty's team is here to provide feedback on startups and professional financial advice - don’t hesitate to contact us, if that is what you are looking for!