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Work in progress
- In remote-first Argyle, quite a few Lithuanians are doing the heavy-lifting. Great design work across the board.
- Billo app is deploying the funds raised – has trippled the team in the last 6 months and hiring more. Just like CGTrader, Omnisend, they are selling shovels in a gold rush (powering e-commerce).
- Talk to Oxylabs if considering Salesforce for your team, they seem to have nailed automation there.
- PayRay Bank gets EU-backing (EUR 50 m) to expand access to finance for Lithuanian SMEs.
- European (and American) growth VCs found another battleground: on-demand grocery delivery. The last one has been Zapp, with $ 100 m by Atomico and LSVP. Anyhow, more than a billion euros havebeen deployed with Gorillas, Getjir, and others – in a couple of months.
- Creator economy is on fire. In January we mentioned Patreon – their valuation was around $ 1.2 B. On Wednesday they secured round F, another $ 155 m, but – at $ 4 B valuation. What’s happening? The second Renaissance is here – says Jack Conte in this fun video.
- Where is that Contribee deck?
- What’s next for Qoorio?
- Looking beyond – Adobe’s Scott Belsky explains (HBR podcast) how creative work is more important than ever and looks at “creative centers” vs. “power centers”.
- Looks like Fly Now Pay Later, UK fintech which raised $ 42 m series A last year, is about to land Lithuanian office.
- We do believe founders should tackle big problems, but electrification is also a huge opportunity for economic growth. Repaint the map – noticed Rokas
Rounds and capital
- One of the largest Lithuanian startups, Hostinger International, brings two strategic investors – Jochen Berger and Thomas Strohe – to further accelerate growth. Very large round for sure, but unfortunately not public in numbers.
- New investors (ConHostinger GmbH) secured a 31% stake in the company. Tesonet founders increased their holding from 36% to 39.4%
- Founder of Hostinger, Arnas Stuopelis, commented that “this is a unicorn in the making”. The company had EUR 22,3 m revenue last year, growing 2X annually in the last few years.
- Mano Daktaras secures EUR 260k investment for further telehealth growth, after Pincetas acquisition. The round involves Tesonet, Milda Mitkute (Vinted), Viasana, Media Bites and others.
- Tesonet is investing into CAST.AI and will accelerate it further by sharing the resources they have. Numbers not disclosed.
- (essentially, it is Tesonet behind every deal these days. Powerhouse)
- Coinvest Capital announces (in LT) EUR 4 m added to the fund to focus on sustainability and green tech.
Digital health and healthcare
Our other blog posts
- How to find business angels in Lithuania
- Which growth stage VCs (Series A onwards) are active in Lithuania? We look at the deals in the past 3 years.
- Non-Lithuanian and remote-first scale-ups here
- Just added Chronosphere, which is hiring more to the small Vilnius office. Series B startup with more than $55M in funding and backed by VC firms Greylock, Lux Capital General Atlantic, and investor Lee Fixel. The team is distributed with major hubs in New York, Seattle and Vilnius.
- No ideas? Something truly simple for how to find startup ideas and assess them. If that doesn’t help, try out Trends.vc, Software Ideas, Gaps, and Trends.co.
- Markets. Good concepts and frameworks for expanding across borders. Why fintech is local not global? What is an “internet nation”?
- Can’t close the round. You’re not alone, as the venture partners are increasingly running after few strong signals, creating polarization. Here’s why there are two worlds and what to do.
- Product Roadmap. How to plan your project strategically
We want early-stage teams to succeed – let us know if you’re recruiting core team or starting something new.
- Track-POD – VP of Marketing
- Engineers and everything else needed for Interactio
- FATMAP (outdoor adventure platform) expanding the team, they are split between Berlin, Vilnius and Chamonix
- More about how Trafi operates (interview with Martynas Gudonavicius)
- Decision-making and organizational structure (by Mindaugas Mozūras)
- How Technology and Covid-19 Are Reinventing Education. If we replace “education” with “learning” – opportunities become more visible.
- Love this Notary Museum idea. Might be the first in the world (in LT)
- See how Bhutan rolls AstraZeneca vaccine (763k population)
- As Martin Villig tackles the question “what has contributed most to the Estonian startup ecosystem”, some interesting data points and discussion in comments.
- Lithuania tops the list of European countries with the largest absolute growth in household disposable incomes over 2015-2020. However, inequality has followed the trend and increased, too (data by Fransua-Vytautas Razvadauskas)
We come around now in more places, so our friends include
- Abstract stylist (fun piece on Lukas Valiauga)
- Tech Zity monthly newsletter (they are now running good events, too)
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