5 min read

Winter sprint

Winter sprint
Photo by Justinas Bolys on Unsplash
Lithuania Tech Weekly #210
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work in progress

  • Funnel. Dealroom 2024 Lithuania report is out, looking alright (up and to right, if not – then following the market). With regards to scale-ups (future unicorn box), it is so much easier to track ones that pick venture rounds along the way, but there is more to surface. What might be Hostinger valuation, which is growing 57%, with EUR 110m revenue in 2023? What is the valuation of Oxylabs, approaching (exceeding?) similar rev levels? While Omnisend can't yet command Klaviyo public multiple (13.5x), it would still be very high given the current $50m ARR. Even e-commerce hit Burga expanded 50% last year (2024) and reached $80m in revenue. Also, CAST AI logo (60 people in LT) would fit here well, but that Miami HQ is seemingly a problem.
  • Snowball. Kipras updated: Lithuania's Unicorn Snowball Effect: 2025 Q1. To accelerate with more liquidity (limited effect so far from Vinted secondaries). Also, don't compare these two directly, they mint new ventures in different ways (Tesonet builds multiple ventures in-house, various stages, including new and hot nexos.ai.)
Borrowing from Kipras

rounds and capital


sponsors

Cloudvisor [AWS partner dedicated to startups]
Hostinger [making online presence accessible to everyone worldwide,
hiring]
PayPal [
Global integrated payments solution]
Oxylabs [
Step into the world of web data gathering]
Vinted [Largest C2C European marketplace, 
hiring]
Presto Ventures [
investing in startups – security, defense, aerospace]
15MIN Group [
all the news you need to know]
Wargaming [award-winning game developer, 
careers]


founder's guide


early bird pricing only until Feb 7! go https://www.ai.lt/ and grab our discount code

further insights

  • Spend less time alone, please
  • Asking Dubai Moguls How They Got Rich – and getting Antanas Guoga sharing about $300m net worth + life wisdom.
  • Man convicted of drunk-driving a drone in Sweden’s first case of its kind
  • Everything that happened in deeptech in 2024
  • 12 things LPs should know about venture capital. Selected three:
    • 1/ VC is highly cyclical, alternating between long risk-on periods followed by sudden risk-off periods. Trying to time things is a fools errand, which is why consistency across vintages is required.
    • 6) Recent posts suggesting that $100M-$500M funds are in "no man's land" are both incorrect and correct at the same time. This applies to firms lacking advantages in brand, domain expertise, or network. There's significant value for founders raising Series A from high-quality mid-cap managers who can provide quality senior partner support.
    • 12) For seed funds having a real edge in sourcing & winning deals can> picking ability. Brand/distribution matter.

ecosystem

  • Like this take about Europe. Stop that doom and gloom.
  • We have argued here that ROI on AI skills is huge. But what exactly to teach?

roleplay

Early-stage startup jobs (50+) Baltics, don't miss opportunities like:

Hostinger - Marketing Data Analytics Team Lead
Oxylabs - Engineering Manager
Oxylabs - Head of Account Management
Hostinger - Risk Manager

Unicorns Lithuania - Economic & Policy Expert
Ministry of Economy - Commercial Attache in Los Angeles
Popcorn - Founding Product Designer
NFQ - Marketing Manager
VIALET - multiple roles