Falling flat

work in progress

• Taiwan. Tangeng Advanced Vehicles Co signs MoU with Dancer Bus, which implies R&D cooperation and production in Lithuania. Finally - TW can step in where local investors couldn't, especially where capital is a key enabler. One shouldn't crawl where competitors run. Case in point: Swedish Volta Trucks (that most have not even heard of) was launched in 2019, scaled from  20 to 450 employees in 15 months, took EUR 290 in investment, and plans to IPO in a few years' time. (We are hoping for the next TW delegation at Altas / Elinta Motors soon).
• Talents. These are the kind of stories we need many, many more. Could keep us younger, too.
• Public goods. Oxylabs have officially launched Project 4β - to enable critical research questions and missions at the scale of global public web data
• Finding gaps, launching. Running into the leasing market gap while at Ruptela,  Andrius Rupšys and Ričardas Vandzinskas launched Hive5 - a P2P investment platform. With education management experience, Skaiste Lazdauskaite starts Scoolsy - LMS for schools with content for individualized student learning.
• Calendar. People on the move, Hackaton, Aug 26th. Tech Kinship on Burnout (in LT) - Aug 18th.

rounds and capital

• Tutotoons recent acquisition looks timely - revenue flared 5x above EUR 9m last year. (Hitting scale is fun in this industry - here is Estoty with 75% net profit margin; Nordcurrent we mentioned a few times already; here is talk with Tomas Sakalauskas, creator of Human: Fall Flat, with 30m downloads (last year data); and get to know the story of Infinite Loop, made by Jonas Lekevicius and played by more than 50m people).
• The first Orbio World acquisition - Fraicheur Paris brand, started six years ago. Terms undisclosed, looks like DTC brand was doing around EUR 700k revenue last year.
• Gytenis Galkis joins Superhero Capital from Finland.
• Among the top 10 Baltic M&A deals in 2022 1H (by disclosed value) there are 7 startup deals - and people are surprised. And while LT is taking well-deserved summer (or whole year?) break from investing, Estonians have already raised EUR 1B+. Look, there is a new way to launch and scale businesses, it's proven, it generates returns and it would be a terrible thing to waste for Lithuania. We tried to explain in an earlier nervous piece.  

roleplay

founder guide

• How to build an audience with no product (ramen noodle example)
• 2022 Post-Sales GTM Report by Insight Partners
• How to calculate Total Addressable Market (TAM)?
• Growing in remote - learnings from Cloudvisor
• How to calculate your runway

TP membership circle

further insights

• Bijan Sabet, Co-founder & General Partner at Spark Capital, was nominated by President Biden as US Ambassador to the Czech Republic.
• Ecommerce Is Slowing But Consumer Spending Is Still Strong (daily consumer)

ecosystem

• Eimantas pushing the envelope in public datasets and APIs - and need more talented pros to join.
• New Board led by Dr Agne Paliokaite for Innovation Agency in Lithuania