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Photo by Nastasia Makfinova / Unsplash
Hello Friday!
Lithuania Tech Weekly #88
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work in progress

Scelups gonna scale. Oxylabs acquired a firm in Silicon Valley for $50m and signalling that Tesonet expect to have another unicorn under the umbrella - soon. Important step, as per Julius (CEO) post (in LT).

The impressive journey continues for Furniture1 - hitting EUR100m sales revenue just recently, Pijus shares how he got there and what is next - including new venture investments with WeChange.group.

Products. 8devices develops and produces unique design and functionality electronics, also produced 3x revenue growth last year, at EUR 8.7m. PVcase team has officially launched Roof Mount product. LastMile started an autonomous delivery service in Vilnius with Estonian Clevon.

People. Excellent interview with Alex Gibb (Katalista Ventures), an important figure in the ecosystem and great for founders to work with - founder himself, humble, and brings a global mindset with strong sustainability flavour.

Proptech. Proptech Lithuania and Rockit are inviting to the biggest Proptech community event ever - Sept 29 Vilius gives a good summary on what is hot at proptech, and NfX just released Real Estate 3.0 – The Ownership Revolution

rounds and capital

  • ??? (bridges on fire)


founder guide


  • Why Figma wins + story from Kyle who had VC job interview in 2018 with Figma case study. He built a model Figma becoming a $19B company in 2025, but didn't get the job - analysis was "unrealistic". (Adobe just acquired it for $20b). Anyhow, is it capital that produces startups? Nope.


  • Another update on the Innovation Scoreboard across Europe. We are progressing, too slowly, of course (Moderate Innovator with performance at 83.7% of the EU average). What are key enablers missing? 1) Absence of top R&D spenders (our biggest companies (majority) are too efficiency-driven, in other words, they keep the edge on cost basis instead of innovation) 2) Circular material use rate and environmental innovation 3) Gov support for R&D 4) Foreign PhD students 5) Intellectual assets (patents, trademarks, etc)