5 min read

Boughs of my brain

Boughs of my brain
Vilnius CBD photo
Lithuania Tech Weekly #131

Work in Progress - will land on LinkedIn,
The full newsletter is email, just email - philomaths.tech

We can partner if you are serious - here

work in progress

  • Defence. Another boost for dual-use and defence-related ventures. Some have certainly landed investment and contracts for products - keep an eye on RSI Europe (graph below), Aktyvus Photonics, Astroligh, Blackswan Space, OstraLab, MappingSoil, Unmanned Defense Systems, and Skycorp. Brolis announced securing a "groundbreaking contract", that should have some zeros.
RSI Europe
Brailliant photo

  • Covid hangover is going well. DTC brands are asking - Is it harder? Or are you worse? Well, e-commerce in the US has been flat after the initial boost

Pandemic invention - quick grocery delivery - went full circle. Gorillas, for example, raised a total of $1B+, to be later acquired for $1.2B by Getir, the Turkish superstar. Well, today you can buy one of their scooters in London, as they are pulling out of the UK, as done with France and Italy, and NL+DE seems to be on the list, too. In this context, Ziticity story is just fine, better to stop earlier!

We care more about bikes, as you know, another hot covid stock. But also a little depressing here. The new micro-mobility darling Vanmoof (Balderton led series C, $128 m) just went bankrupt. Comodule co-founder Kristjan made a good summary. Radpower pulled out of Europe. Lots of brands sitting on tons of inventory, craving for cashflow these days (you get an e-bike when buying Porsche - in Amsterdam, of course).

Things will get better pretty soon. We've put some asphalt in Neringa. PON will still build a factory in Kedainiai. The biggest disappointment, however, is that there is still no "cycle to work" scheme in LT (and the Baltics?). Jobrad, which started in DE 10 years ago, has put 1 million bikes on the road, and employs 700+ people.

rounds and capital

  • Highland Europe, Energize Ventures and Elephant came together with $100m round for PVcase. Massive - to say the least -  series B, and would not be surprised if guys have more acquisitions in mind. Exciting venture - head here and help them build. (They also shared the deck but we prefer a data room instead of this "short version good.pdf")

Presto Ventures (here are three questions with Roman Novacek) picked up two great teams in LT, thank you for that!

ZENOO is raising EUR 300k seed round extension to boost acquisition in the UK+DE , targeting EUR 50k - 75k MRR. Current investors are following up in this - led by Toma Sabaliauskienė (CMO Tesonet / NordVPN), Dmitry Sumin (EstBan), Erik Bhular ( EstBan / Baltic Sandbox) and joining several new angel investors from LitBan. Already 200,000 EUR committed, tickets EUR 25k.

founder's guide

Few pods on building and leadership

  • Lessons in leadership | Scaling an org, developing yourself, and tactical management advice | Jack Altman (Lattice) - podcast
  • Kasper Hulthin on learnings co-founding Peakon, Podio, and Future Five
    (Insights by Angular Ventures) - podcast
  • How to Build A Personal Holding Company in 2023 | Greg Isenberg, Late Checkout (media empires) - podcast


Bolt - Head of Social Impact Fund
Unmanned Defence Systems (watch them) - Marketing Manager
Fintech Hub - Head of Association
SaaS (no very clear what) - Co-founder
Smth smth fintech - SEO pro
Teamdash - Sales Executive
Brolis Defence - Business Analyst
ZEDGE - Head of Design
Omnisend - Product Marketing Manager

submit job: here

further insights

Thomas Edison: averaged a patent every 10-12 days of his adult life.

Albert Einstein: “Scientists call 1905 Albert Einstein’s annus mirabilis — his year of miracles. Within a few months, Einstein wrote a series of papers that would transform the way we see the universe. They included his theory of special relativity and the famous equation E=mc².”

Pablo Picasso: “His prolific output includes over 20,000 paintings, prints, drawings, sculptures, ceramics, theatre sets”

Together in this

"I will reach you wherever you are" - series A investors who deployed inflated rounds in 2021/22.