Welding online

Lithuania + Baltics Tech Weekly #228
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work in progress

Building. How aren't we in an AI gold rush? Definitely in a rush, only true gold is yet to be found (but it's there). From an ecosystem POV, it's all about the journey, less the destination. Founders, as per this fun Terrain video, are free agents (free from script, free to take their shot). Even a tiny vibe-project is a step in that direction, and we cherish every single one of them:
- Sports. Linas: Squadletics, with 1000 active users since launch and no marketing yet (fitness challenges to exercise at home). Rokas: see padel court availability and prices real time. Hüseyin built Google Maps-style route animations via Strava API. Dainius: AI-powered running coach. Btw, Motion Trials sprint sensors are available for order.
- Business / Ops. Remigijus: AI-powered invoice generator. Ernests pivoted with Starwatcher, now AI-powered B2B similarity engine. Mikk: building Zenkai to bring XmR charts to everyone.
- Health and fun. Arnas: Sana Health, AI-powered preventive care assitant. Justin: BronzeMe (smart UV tracking) and Body Insights (body vitals). Zilvinas: be bilieto – a way to discover free concerts in smaller towns, and just look at that LI engagement already.
- Question for indie-hackers and bootstrapped founders. Who serves you great content? Do enjoy Tibo's newsletter, other large ones – please help me find more niche writing / pods (reply to this email).
Also, Why AI team seem to be launching SafeAI – a privacy-first browser extension that protects sensitive information during AI interactions. The C School – online platform for creative professionals – also received 60k via same Edtech product grant call.
Ramp up. Luckily, the underground hacker community surfaced: _basedspace build program comes live (4 weeks to become a founder, true pressure cooker). Also, consider Plug and Play last batch call (apply by July 4th)

Fintech. After spending time with Creandum, Lauri launches Fundra – FundOps product. Estonian Creem is Financial OS for small distributed teams, and they are accelerating fast. Impressive Ugne's journey as the CEO of payabl – from 30 to 300 team in 5 years. VIALET adds another integration, with huch. Interview with Raman, founder of myTU – an overlooked fintech, growing well. Argyle integrates with Mastercard Open Banking. Axiology application progress is made public by ESMA itself. Another award for the AMLYZE team.
The new generation. Celper AI moves to new offices. Inspiring Brailing team went from idea to production – a unique Board Game that unites blind, visually impaired and sighted players (saved by last-minute funding provider) Civitta and Junicorns join forces to kickstart a new pre-accelerator.
Industrial+design. Perhaps less startupy, however makes life more beautiful – impressive and well-designed products: Kismas. Lava Drops. Friends and Frames interior. Vaidava Ceramics. Reed turntables. Ampler Bikes. Karolis Strautniekas. What else? Aware that we left out many fashion, furniture brands.
"European tech" doesn't exist – Mehmet from Bek Ventures makes a sound statement and explains why this is positive (and how we are focusing on wrong things). Vilnius comes around as one of the dynamic spots in Europe.

I am keen to see more true competition among European hubs (especially Baltic hubs making bigger swings). Honestly, the threshold is very low – just need some political will and sustained effort. Estonian e-residency is one good example. Consider why so many young CEE talents started to flock to the UK twenty years ago? Is it because they love fish and chips or care about the monarchy? No, it was A) English speaking B) Great universities C) Student loans D) Strong job market. That's it.
As a consequence, the talent supply for the UK / London has been enormous (now restricted by self-imposed Brexit effect). Obv leading hub for tech in EMEA, a lot of Baltic tech action is still in London (Wise listed + 1000 or so emplyees in the UK; Plural splits London-Tallinn; Giraffe360 initially built in the UK; On LT side, TransferGo started in the UK, Rytis runs Dig Ventures, Lina was with Stride.VC, Contrarian has Patrikas and Alessandro in London, and current founders/builders include Emile (Samphire), Rokas (Laelaps AI), Dei (HERlab), Jolanta (marllm) and more; also London Lions in Teso portfolio, and the list goes on.

Calendar. FIRSTPICK Founder Hike, July 18th. Go check Plug and Play accelerator expo July 31st

rounds and capital

Tallinn-based Flowtest raises $2.6M to launch AI-native design platform – the first ticket from Iron Wolf second fund. Supernode Global led the funding, with participation from Adesso Ventures, Angel Invest (Berlin), Dnipro VC, Iron Wolf Capital, and angel investor Anton Borzov (WhatsApp). Pre-seed backers also followed on, including Tera Ventures and Specialist VC.
RSI Europe secures EUR 4m loan from ILTE (they are reportedly working on equity round). Recently, Aktyvus Photonics got similar backing with the same instrument.
Plug and Play is backing Pioneera Biosciences – after meeting the team through Plug and Play UAE, team is making a move to Lithuania to benefit from the Startup Lithuania Accelerator powered by Plug and Play. Welcome!
Movens Capital launches €60M fund to back CEE tech founders (backed Attention Insight and happy to get more Baltic deals)
SmartCap Green Fund is now also backing funds that focus on later-stage greentech and green infrastructure projects
VCs in Vilnius mapped out - link

work in progress

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rounds and capital