3 min read


Photo by Kotryna Juskaite / Unsplash
Hello Friday!
Lithuania Tech Weekly #87
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work in progress

  • Marketing collapse = when your campaign gets picked up by VTF.
  • This week, startups challenged industrialists on milking subsidies (not without a reason, some executives really embarrassed themselves with Belarus ideas). We like that now we've got an alternative voice in public, and prioritizing education is 100% on target. We do expect these clashes to continue. All governments scramble with "chronic state of shortage of good jobs". As per Sandbiu's book, if you fail to provide average Joe with a meaningful job with raising income, he might decide that Trump is an awesome president, or that leaving EU could somehow help... Economic insecurity is a real political pain and will continue to be exploited by large firms. The challenge for every government of ours - finding effective interventions to convert wood processing jobs into new Teltonikas.
  • Seed, and very early growth - these are bittersweet spots for the Lithuanian founders. Many are trying to bridge themselves into the next season. Your startup has early (possibly weak) signals of traction, so fundraising is still a lot about team and thesis (=hard). While pre-seed funds are starting to deploy, there is very little later-stage capital locally - founders end up chasing another follow-up call with Change or Presto Ventures. But there are some pulling through with brute force. They grow in explosive markets (Elinta Motors), find ways to solve productivity challenges (Track-POD), create massive movements across borders (walk15), or just movements at home (Octomoves).
  • Will Figma be Adobe's Instagram? One of the largest software transactions ever, at $20B. Early investors getting 400x + return. Should we now expect more 50X ARR multiples? Frankly, no.

rounds and capital

founder & operator guide



what if it went right?

Tukada Tech is one of the leading commercial transport customization companies locally. Just happens that their revenue shot last year. Could there be a bigger story? What if it is serial production of standardized, custom-built, PHEV van for travels? Intersection of several trends.