Startup scene in Lithuania - weekly newsletter

Never a smooth sea

Never a smooth sea
Photo by Saimonas Mureika / Unsplash
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Lithuania Tech Weekly #54
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work in progress

  • Space. Our national treasure Nanoavionics doubled the revenue last year (should be around EUR 15m), 41 satellites produced or in progress, a team of 127, and inspiring others: Astrolight is hiring SDR, and we should be hearing about Blackswan Space, too.  
  • Media, on going big. Podcast with Martin Villing, co-founder of Bolt (how to play to get to $8.4B valuation). Also a full version of Tesonet founder interview (Proto Industrija, in LT)
  • Crypto. Zen Capital is a new player in town (Tomas Martunas from Iron Wolf is a co-founder), helping raise funds for various blockchain game projects. As one of our readers puts it - "Zen Capital portfolio companies are peddling Mars, Earth AND Moon. What a range, soon they'll take over the whole solar system."
    Also on crypto - Socialhack podcast with LossLess CMO Monika, including tips on how to avoid scam.

rounds and capital

calendar

blog posts

2022 Lithuania tech predictions
Finding Angel Investors in Lithuania
5 Questions With the Editor of Tech Philomaths 

insights

founder guide

roleplay

Vinted - M&A Deals Principal
Karma Ventures (EUR 100m deep-tech fund) - Principal (Vilnius)
Tautvydas Gylys (allergy diagnostic and treatment service, new startup) - full-stack engineer
Biomatter Designs - Product Manager, tech & other talent

ecosystem

There is much news lately, and some startups are getting affected by China / Taiwan issue - notably the laser industry and Brolis Semiconductors.

It's one of those moments in Lithuanian politics, when we are probably doing the right thing, but not doing it right. In that case, the government should -

  • Try to keep the course, since it is the right thing to do
  • Work super hard to mitigate/address the consequences
  • Most importantly - learn the lesson. One simple question to ask - is our team (diplomatic) strong enough for this kind of headwinds? Even further, is our core defence (military, intelligence) serious enough, given the regional context?
  • If both answers are no, review priorities.

Entrepreneurs rightly complain that this was mismanaged. We need to try to work it out. But always bring the flag forward, there is no other way.


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Jamie Larson
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