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/
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
- 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)
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?
- Good new coverage and impressive growth of transactions among Fintech providers – “EU’s Fastest Growing Fintech Hub Sees ‘Evolutionary’ Shift Away From Banks“
- How unicorns are helping to build up a strong startup: “40% active angels in Estonia are founders / ex-employees of Estonian Unicorns. And these folks are also behind 70-80% early-stage deals“
- How Benin and Mongolia are fast-tracking digital government