Aug 19, 2022 2 min read

Sunny

Hi team, busy days?
Lithuania Tech Weekly #83
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Electric prices. Don't need to get disturbed by short-term market failure (it will get fixed, likely by the regulator). The big picture is the same: 1. Sweeping electrification 2. Efficiency 3. New clean generation. Kuodis talks a lot about this path to green freedom (in LT). Solar startups? Solarbank grew from 0 to 800k revenue, Inion software aiming at EUR360k this year, PVCase landed EUR20m series A - but actually (!) is growing profitable, and Estonian Solarstone too grabbed €10 million this summer. Also - Martynas talks to Solitek today. Vocabulary: Solarjunk is converting landfills to solar parks.
Eco. Linas launches Treevity - applying a tree-planting layer to e-commerce & lead generation. Also on the sustainability train, get to know - ETH Zurich spinoff Haelixa, with Gediminas Mikutis as a CTO and co-founder.
Crypto and Web3. Coingate climbed to EUR 66m revenue last year, to double now again. BitDegree marching ahead and recruiting across the board (in LT).
Calendar. Vilnius International Community Meetup - Sept 8.
Coach. Spend plenty of time with your coach, and feed regularly.

Change Ventures leads EUR 1.9m seed round into RecruitlLab.
Not much more to report, founders, please - don't slice the mushroom: 25 most active Polish VC funds, 2021/2022 Most Active VC Investors in Sweden and the Nordics, & how to fundraise.
Pre-revenue and post-revenue heroes - this post resonates, but again revenue alone does not tell you are a rockstar. LT angels do prefer to go for lower risk (= lower total return). The bigger problem beneath might is finite mindset, still prevalent.

Why Developers Are Building So Many Side Projects
E-commerce isn’t dead, and neither is physical retail - there is a sense of renaissance there.
Podcast Guests Are Paying Up to $50,000 to Appear on Popular Shows (same story with this newsletter)
Strikingly short job tenure among software engineers in the Bay Area
Erza Klein - I Didn’t Want It to Be True, but the Medium Really Is the Message