Rebirth | Lithuania Tech Weekly #13

Tech philomaths are direct and dedicated reporting on the tech scene in Lithuania. Weekly newsletter. Better informed, more dense network, and getting more people into tech. Send us tips and we are happy to cover. Subscribe to the list at http://philomaths.tech/

50% tech

magic 50%

Say hello to our new feature - voting poll. We invite you to express your opinion on this piece and let's see if you'll match with the other readers. Slide me! Slide me gooood!

Work in progress

When back to traveling (please!), Eddy Travel will be ready – just launched new group travel AI assistant. Also announced partnering with kiwi.com for flight search. Huge respect for persevering tech founders, who got pandemic hitting, not driving their business.
Background story of Rocketo (organic dog food e-commerce, article in lt), international team, and well-growing sales across Europe.
Viezo (vibration energy harvesting) wins the Great Pitch Contest held by Wolves Summit.
An overview on Lithuania’s Edtech and BitDegree strategy in this interview with Danielius Stasiulis. Also a podcast on Baltic Founderswith him. Great work on bringing Lithuanian Edtech startups together (latest mapping here).
CoInvest Capital in 2020.
- 17 deals
- EUR 8 m deployed
- Average ticket EUR 450k (with CoInvest bringing EUR 300k)
- Invega is adding another EUR 4 m into Coinvest Capital to focus on sustainability / greentech startups.

Rounds and capital

Lithuanian proptech startup InRento lands pre-seed funds (EUR 130k) to grow ‘buy-to-let’ crowdfunding platform. SWG + angels.
eDOW raises EUR 250k to open the first EV-only showroom in Vilnius, bringing Teslas to much-awaited physical space. Planning to expand in LT and the Baltics. Interesting to see Pijus Makarevicius (Furniture1) bringing his retail experience, and guys kick this off pretty much by working remotely.
Our sophisticated models show (below) Lithuanian startups raised much more in Q1 compared to last year, but deal activity remained similar. All driven by the later stage, and there are several more in the pipeline.
Also – Domantas Sabonis (and more NBA players) joins Dapper Labs round (NFTs), which values the company… $ 2.6 bn). You typically recognize a bubble when celebrities pour the money in.

Digital health and healthcare

FeetSee plans US launch later this year (non-invasive medical device for diabetes patients).
The list of Healthtech and Digital Health startups in Lithuania

Our other blog posts

How to find business angels in Lithuania? (added link to active Estonian angels/VCs)
Non-Lithuanian and remote-first scale-ups here

Founder guides

Marketing headlines. 100m Posts Analyzed: What You Need To Write The Best Headlines
The Rise of Platform Brands. Why companies are leveraging their employees to build audiences
B2B product management. Discovering problems that customers actually care about
Fundraising. How FJ Labs Evaluates Startups (Eneba investor)
Leadership. Good vs. Great Leaders (NfX)

Roleplay

We want early-stage teams to succeed – let us know if you’re recruiting core team or starting something new.

Fullreach – Customer Acquisition As a Service – is hiring a CTO
Boomio (70V portfolio) – Partnership and Reward officer
Millo landed more funding and now actively hunting six roles (CS, marketing, engineering)
Emotika hiring sales manager
untu (70V portfolio) hiring marketing manager and UX designer

Insights (bit of confetti this time)

Interesting high-quality documentary (video) by Nara, which follows food delivery couriers at work and tells their full personal stories.
The End of Industrial Society. “Our social technologies have not been upgraded in the wake of the Industrial Revolution’s conclusion; they have been exhausted before we even finished industrializing”.
Tomas Okmanas on ultra-running (video interview)
OTIA uncovers arts and culture in tech community – see several Lithuanian talents here
Live drone broadcast from a live volcano in Iceland
A Closer Look at Large-cap European Tech in Public Markets
What are the biggest Substacks (newsletters) and what do they earn? (subscription revenue)
Are there any other newsletters in this country? Few. Let us know if we as missing out on anything good?
- Lithuanian Game Industry News (en)
- Demesio! by Tomas Ramanauskas (lt) – brands – comms
- Media X (lt) – media – tech – strategy