New Nordics

work in progress

• Social. How good is Europe at building consumer social? This list is short. Hard to say goodbye to HumansApp - a devoted team that tried really hard. Looks like they should have built an app where teens could compliment each other, anonymously.
• Semiconductors. Teltonika signed a technological cooperation agreement with Taiwan’s Industrial Technology Research Institute (ITRI), which will help start the semiconductor industry in LT. Overall, partnership with Taiwan is developing as one of the most exciting things in our technology space - for the whole decade.

• Davos. Vladas Lasas walks past car traffic, ambassador for climate and #Walk15. Finally, President and Tom Okman have more time to chat. Danielius makes sure that BitDegree logo shines bright.
• Partnerships. Congrats to GovTech Lab award winners - Teachers Lead Tech and Oxylabs! Inbalance shares that Korean SK Group could become an investor - but signals a broader engagement is needed (South Korean way?). Viessmann and Pixevia collaborate to bring "instant walk-in, walk-out technology" to grocery retailers.
• Calendar. All (we did not verify) tech events in LT are in this Google calendar.

rounds and capital

• Oxipit has closed a USD 4.9 m funding round to advance its medical solution and expand into new markets. Taiwania Capital led the round, with Practica Capital,Coinvest Capital, and angel investors also participating. Last year Oxipit received CE Class IIb certification for the ChestLink autonomous imaging software, which allows the company to deploy the software in 32 European markets.
• Repsense raised EUR 500k pre-seed from Iron Wolf Capital and CoInvest Capital, including 5 angels. With this team, your reputation is bound to get better.
• Estonian Grunfin raised EUR 2m. Comes from existing investors Norrsken VC, Specialist VC, Lemonade Stand, company’s founders. New investors included Sie Ventures and HoneyBadger VC.

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founder guide

• How does Mantas Mikuckas invest? Active angel, screening tons, hands-on support with selected few. More than a dozen in portfolio. Trends to watch - AI (Pixevia), Greentech/climate (Aerones, Inbalance), Marketplaces (his expertise - Ovoko). Concerned about education (who isn't?), the best ROI this little country can get.
• How to find the best startup VP Sales candidates in the world?
• Fundraising by cold DMs. Admit your mistakes and improve
• How to quit your job - some resources
• Venture studios are not too common in the Baltics, but Dobra landed in Vilnius - do you know more? A recent pod with Juxtapose how venture studios work. Also Steve Blank - is VS right for you?
• A practical guide to dealing with social media trolls. Spotify playlists are best.

insights

• AI is already everywhere, isn't it? Meaning the hype at least. With any significant technology shift, a new skills gap opens, Turing College will be busy. "All my classes became AI classes" - writes Ethan Mollick, one of the few in academia embracing it today. Follow beyond ChatGPT-generated Linkedin posts: for example, AI chatbot that can predict mental health disorders with 93 per cent accuracy has become the first in the world to achieve Class IIa UKCA medical device certification. 130k users.
• Long live Enterprise Software, long live Microsoft? Interesting pod with Estonian ERP builder Kristjan (Katana Manufacturing ERP). Into Medha's (Redpoint) themes to watch - B2B payments, Fintech infrastructure, B2B data, ERPs (any innovation lately?..), CFO tech stack, Vertical SaaS.

ecosystem

• Shape of the New Nordics 2022 - byFounders looked at the region and main venture fund investments last year. North really works in venture.

three questions, previously

• Justinas Pasys, Managing Director, LitBAN
• Magnus Hambleton, Investor, byFounders
• Povilas Poderskis, Development Director, Darnu Group, ex-COO Nord Security
• Gytenis Galkis, Venture Partner, Superhero Capital
• Daniel Kratkovski and Dominykas Milašius, co-founders, Delta Biosciences
• Kasparas Aleknavicius - Co-Founder and CPO, Loctax
• Andrius Milinavičius, General Partner, Baltic Sandbox Ventures
• Laura Korsakova, Founder and CEO, Psylink
• Paulius Uziela, Investment Manager, Coinvest Capital

other

• Is there a Lithuanian equivalent? Perhaps not in the consumer brand space.