\The Baltic startups and scaleups to watch in 2021

\The Baltic startups and scaleups to watch in 2021

The Baltics is one of Europe's most exciting startup regions. So who should be on your watchlist?

It's a great time to be a Baltic startup.

So far in 2021, Lithuania has seen €277m in investment (compared to just €17.9m in 2020 and €151m in 2019). In 2020 Estonian startups received €115m in capital.

The Baltics have birthed Bolt, the Estonian ride-hailing app, and Vinted, Lithuania's increasingly popular secondhand clothes marketplace. Other, but exited unicorns include Skype and Wise (previously TransferWise.)

But with only two unicorns, the region has a lot of room for growth — and needs it if it's going to compete with more established markets.

Fintechs like consumer lender Sun Finance, which recently placed 2nd in the FT1000 with a compound growth rate of 752%, are particularly promising. And thanks to startup-friendly regulations, Lithuania is Europe's second-largest regulated fintech hub.

While many Baltic startups have also moved out of the small and underpopulated regions to capitalise on more established markets, as usual, this list only includes startups headquartered in Estonia, Latvia and Lithuania.

(P.S The data is from European Startups with valuation estimates from Dealroom. If there is anyone missing from this list, or anything is wrong, please let us know by email at [email protected]).

Key

Year founded

Amount raised

Last funding round

Valuation

Employees

pixevia's logo

pixevia

Fully automated retail stores and analytics using AI & cameras

retail / enterprise software

pixevia.com

Vilnius, Lithuania

2013

€2m

SEED

€4-6m

10-50

AskRobin's logo

AskRobin

Financial search engine that helps people to find best financial products and loans

fintech / mortgages & lending

askrobin.com

Tallinn, Estonia

2017

€2m

SEED

€6-9m

10-50

Advertisement
Integrated Fiber Optics's logo

Integrated Fiber Optics

Fibre lasers and related components for telecom, industrial, medical imaging and scientific applications

hardware / selling own inventory

ifoptics.com

Vilnius, Lithuania

2015

€2m

SEED

€6-10m

10-50

Oxipit.AI's logo

Oxipit.AI

Kaggle-winning experienced deep learning engineers and radiologists

health / medical devices

oxipit.ai

Vilnius, Lithuania

2017

€2m

SEED

€6-9m

10-50

Teamscope's logo

Teamscope

Big data-driven team insights

saas / enterprise software

teamscope.io

Tallinn, Estonia

2015

€2m

CONVERTIBLE

€2-3m

10-50

Fleming's logo

Fleming

Patient-centric digital clinic

health / mobile app

fleming.app

Vilnius, Lithuania

2020

€1m

ANGEL

€5-8m

10-50

Interactio's logo

Interactio

Audio translation on event attendees'​ phones

event tech / enterprise software

interactio.io

Klaipėda, Lithuania

2014

€1m

SEED

€2-3m

50-100

Rendin's logo

Rendin

Consumer proptech

real estate / marketplace & ecommerce

rendin.co

Tallinn, Estonia

2019

€1m

SEED

€5-7m

10-50

Eddy Travels's logo

Eddy Travels

Personal travel assistant in your favorite chat app

travel / mobile app

eddytravels.com

Vilnius, Lithuania

2018

€1m

SEED

€2-4m

10-50

Advertisement
Outfunnel's logo

Outfunnel

Sales-centric marketing automation tool

marketing / saas

outfunnel.com

Tallinn, Estonia

2018

€1m

SEED

€4-7m

10-50

ZoomCharts's logo

ZoomCharts

An interactive data visualisation tools for zoomable data graphics on KPI dashboards, websites and blogs.

enterprise software / data

zoomcharts.com

Riga, Latvia

2013

€1m

SEED

€1-2m

10-50

Amberlo's logo

Amberlo

Cloud based law practice management software

legal / saas

amberlo.io

Kaunas, Lithuania

2017

€1m

SEED

€4-6m

10-50

Gamechanger Audio's logo

Gamechanger Audio

Musical instruments effect pedals

music / enterprise software

gamechangeraudio.com

Riga, Latvia

2015

€1m

SEED

€1m

1-10

Kora's logo

Kora

Rewards people and companies for performing a wide range of sustainable activities in order to fight climate change

energy / fintech

kora.app

Riga, Latvia

2018

€1m

SEED

€3-5m

10-50

Nordigen's logo

Nordigen

Building transaction analytics tools for banks and lenders

enterprise software / banking

nordigen.com

Riga, Latvia

2016

€1m

LATE VC

€3-4m

10-50

ParcelSea's logo

ParcelSea

Personal smart mailbox that accepts all home deliveries for customers

home living / logistics & delivery

parcelsea.com

Tallinn, Estonia

2020

€1m

SEED

€4-6m

1-10

RRR.lt's logo

RRR.lt

Saas based car part marketplace

transportation / marketplace & ecommerce

rrr.lt

Vilnius, Lithuania

2016

€1m

SEED

€4-6m

1-10

Timbeter's logo

Timbeter

Innovative solution to measure timber

agritech / manufacturing

timbeter.com

Tallinn, Estonia

2013

€1m

SEED

€4-5m

10-50

Inbalance grid's logo

Inbalance grid

Developing intelligent electric vehicle charging solutions for businesses and grid operators

energy / transportation

inbalance.lt

Vilnius, Lithuania

2018

€1m

SEED

€4-6m

1-10

Tableair's logo

Tableair

Desk and meeting room booking system for the office

enterprise software / workspaces

tableair.com

Vilnius, Lithuania

2014

€1m

SEED

€2-3m

10-50

Logos provided by Clearbit