\The Latvian startups and scaleups to watch in 2021

Latvia has some real startup success stories in recent years. But who are they? And who are next generation startups to watch?

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Latvia has been cited as the most “startup friendly” country in the world and has had some real startup success stories in recent years. But who are they? And who are the next generation startups to watch?

Our team of experts at Sifted have chosen a list of nearly 50 companies we think you need to know about, with an added “Sifted take” on some to provide an extra layer of insight.

Keep reading below and stay informed about Europe’s new economy!

(P.S The data is from our partners at Dealroom.co. 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

Mintos's logo

Mintos

A peer-to-peer lending marketplace for consumers seeking affordable loans and investors looking for attractive returns

fintech / mortgages & lending

mintos.com

Riga, Latvia

2014

€15m

SEED

€68m

100-500

Twino's logo

Twino

Financial services company specialized in investments into buyback loans

fintech / financial management solutions

twino.eu

Riga, Latvia

2009

€8m

EARLY VC

€31-46m

100-500

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Printify's logo

Printify

Printify is a print on demand marketplace that connects e-commerce merchants and print on demand manufacturers

marketplace & ecommerce / ecommerce solutions

printify.com

Riga, Latvia

2015

€4m

SEED

€11-16m

100-500

Juro's logo

Juro

Contract management platform

legal / enterprise software

juro.com

London, United Kingdom

2016

€5m

SERIES A

€19-29m

10-50

Sonarworks's logo

Sonarworks

Company behind precision audio software used by Grammy-Award winning music creators. Now delivering individually personalised sound experiences for music lovers

music / manufacturing

sonarworks.com

Riga, Latvia

2012

€7m

SERIES A

€20-30m

50-100

LightSpace Technologies's logo

LightSpace Technologies

AR and 3D headsets

deeptech / content production

lightspace3d.com

Mārupe, Latvia

2014

€14m

EARLY VC

€7-10m

10-50

Giraffe360's logo

Giraffe360

Virtual tour technology including 360 camera and software

enterprise software / real estate services

giraffe360.com

London, United Kingdom

2015

€6m

EARLY VC

€16-25m

10-50

Cenos's logo

Cenos

Democratising engineering simulation for production plants and SMBs

enterprise software / saas

cenos-platform.com

Riga, Latvia

2017

€0m

SEED

€1-2m

10-50

Anatomy Next's logo

Anatomy Next

Anatomy Next is human body simulator for medical training in virtual reality.Provides 3D digital tools for teaching and learning human anatomy.

health / education

anatomynext.com

Riga, Latvia

2015

€0m

GRANT

€1-2m

1-10

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Vendon's logo

Vendon

Telemetry for Vending - Vendon

energy;marketing / clean energy

vendon.net

Riga, Latvia

2008

€1m

EARLY VC

€1-2m

10-50

ZoomCharts's logo

ZoomCharts

An interactive data visualization 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

AgroPlatforma's logo

AgroPlatforma

B2B marketplace for farmers and grain buyers to communicate, deal and fix grain prices

agritech / marketplace & ecommerce

agroplatforma.lv

Riga, Latvia

2017

€0m

SEED

€120-180k

1-10

Air Board's logo

Air Board

Industrial heavy lift drones for agricultural applications.

drones / manufacturing

airboard.co

Liepāja, Latvia

2015

€0m

SEED

€120-180k

1-10

HYGEN's logo

HYGEN

Original decentralised refueling solutions for gaseous fuel powered vehicles

energy / transportation

hygengroup.com

Riga, Latvia

2011

€0m

LATE VC

€13-19m

10-50

Kedeon Solutions's logo

Kedeon Solutions

Kedeon makes the food system more resource-efficient, secure, transparent and trusted.

food / logistics and delivery

kedeon.com

Riga, Latvia

2019

€0m

GRANT

€145-218k

1-10

Marine Digital's logo

Marine Digital

SAAS TOS

transportation / logistics & delivery;mobility

marine-digital.com

Riga, Latvia

2019

€0m

ANGEL

€1m

1-10

Gamechanger Audio's logo

Gamechanger Audio

Musical instruments effect pedals

music / enterprise software

gamechangeraudio.com

Riga, Latvia

2015

€1m

SEED

€1m

1-10

SpaceIn's logo

SpaceIn

Online platform for co-working space management

real estate / workspaces

spacein.co

Riga, Latvia

2017

€1m

SEED

€2-3m

1-10

RCG Lighthouse's logo

RCG Lighthouse

Lighting as a service

energy / B2B

rcg-lighthouse.eu

Riga, Latvia

2014

€1m

SEED

€2-3m

10-50

YaClass's logo

YaClass

Web based training platform in school curricula

education / D2C

yaclass.eu

Riga, Latvia

2007

€2m

SEED

€2-3m

10-50

Edurio's logo

Edurio

An online survey, data analytics and reporting tools for improving teaching and learning in schools

education / enterprise software

edurio.com

Riga, Latvia

2015

€3m

SEED

€2-3m

10-50

Solfeg.io's logo

Solfeg.io

An interactive app for learning and teaching music

music / saas

solfeg.io

Riga, Latvia

2017

€0m

LATE VC

€200-300k

10-50

Lokalise's logo

Lokalise

Translation management system built for agile teams wanting to automate their localization processes

enterprise software / B2B

lokalise.com

Riga, Latvia

2016

€6m

SERIES A

€22-33m

50-100

Smart Vision's logo

Smart Vision

Online shop for prescription glasses

marketplace & ecommerce / fashion

smartvision.lv

Riga, Latvia

2018

€0m

SEED

€2m

1-10

Monea's logo

Monea

Enables P2P money transfers through a mobile app

fintech / payments

monea.me

Riga, Latvia

2013

€1m

SEED

€2m

1-10

Nordigen's logo

Nordigen

Building transaction analytics tools for banks and lenders

enterprise software / banking

nordigen.com

Riga, Latvia

2016

€3m

SEED

€3-4m

10-50

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

ALINA's logo

ALINA

ALINA uses innovative production technology to manufacture montmorillonite mineral materials, available for building product manufacturers to substitute for toxic chemicals and heavy metals.

biotech / cleantech

alina-premium.com

Riga, Latvia

2015

€0m

SEED

€3m

1-10

Asya's logo

Asya

asya — Practice Mindful Communication with an App

media / social media

asya.ai

Riga, Latvia

2018

€0m

SEED

€480-720k

1-10

Aerones's logo

Aerones

Industrial heavy lifting drones

robotics / energy

aerones.com

Riga, Latvia

2015

€7m

SEED

€6-9m

10-50

Playgineering's logo

Playgineering

Real-time tagless tracking and analytics with machine learning for team sports including ice hockey, basketball and football (soccer)

sports / content production

playgineering.com

Riga, Latvia

2015

€1m

SEED

€600-900k

1-10

Jeff's logo

Jeff

Personalised matchmaker for people and loans

fintech / lending

jeff-app.com

Riga, Latvia

2019

€1m

SEED

€608-912k

1-10

ApexQubit's logo

ApexQubit

2nd generation platform for drug design powered by quantum computing and artificial intelligence

health / AI

apexqubit.com

Riga, Latvia

2019

€0m

SEED

€61-91k

1-10

DoFinance's logo

DoFinance

Peer to peer lending platform for easy and smart investing

marketplace & ecommerce / fintech

dofinance.eu

Riga, Latvia

2016

€2m

SEED

€8-12m

1-10

CastPrint's logo

CastPrint

One-stop-shop solution fully integrated in hospital workflow, providing cutting-edge fracture treatment and saving doctor and hospital time by 15% on each fracture case

health / medical devices

castprint.co

Riga, Latvia

2016

€0m

SEED

€80-120k

1-10

Lovat's logo

Lovat

A tax compliance platform for digital companies

fintech / legal

vatcompliance.net

Riga, Latvia

2018

€0m

SEED

€800k-1m

1-10

Overly's logo

Overly

Augmented reality for business and events

AR / retail

overly.lv

Riga, Latvia

2014

€0m

N/A

N/A

1-10

Sellfy's logo

Sellfy

Ecommerce platform for digilat products

marketplace & ecommerce / media

sellfy.com

Riga, Latvia

2014

€0m

SEED

N/A

10-50

Longenesis's logo

Longenesis

Unlocking the power of life data without borders

biotech / data

longenesis.com

Riga, Latvia

2019

€1m

SEED

N/A

10-50

Digas's logo

Digas

Digas designs a game changing product for high horsepower diesel engine applications

energy / oil & gas

digasgroup.com

Jūrmala, Latvia

2012

€1m

GRANT

N/A

10-50

Printful's logo

Printful

Easy, on-demand, customized online printing, fulfillment and shipping

marketplace & ecommerce / marketing

printful.com

Mārupe, Latvia

2013

€118m

GROWTH EQUITY

N/A

100-500

SPH Engineering's logo

SPH Engineering

Smart planes and helicopters

robotics / transportation

sph-engineering.com

Riga, Latvia

2013

-m

N/A

N/A

10-50

SummarizeBot's logo

SummarizeBot

Unique artificial intelligence algorithms to summarize any kind of information

AI / education

summarizebot.com

Riga, Latvia

2018

-m

EARLY VC

N/A

1-10

Sun Finance's logo

Sun Finance

Consumer lending company

fintech / mortgages & lending

sunfinance.group

Riga, Latvia

2012

-m

N/A

N/A

500-1000

TrustSearch's logo

TrustSearch

Search engine for trust

B2B / security

thetrustsearch.com

Riga, Latvia

-m

N/A

N/A

1-10

Veritacell's logo

Veritacell

Set of medical tools and a unique methodology for extracting patient's own cells to activate effective skin renewal

health / biotech

veritacell.com

Riga, Latvia

2018

-m

N/A

N/A

1-10

Vialet's logo

Vialet

Digital finance management service and contactless VIALET Mastercard

fintech / mobile app

vialet.eu

Riga, Latvia

2017

-m

N/A

N/A

1-10

Vigo's logo

Vigo

Digital rehabilitation tool for stroke recovery

health / biotech

vigo.health

Riga, Latvia

2018

€0m

N/A

N/A

1-10

ZELF's logo

ZELF

Instant money in messenger

banking / mobile app

zelf.co/en

Riga, Latvia

2017

€2m

SEED

N/A

1-10

Eco Baltia's logo

Eco Baltia

Providing waste collection and recycling management services

waste solutions / energy

ekobaltija.lv

Riga, Latvia

2002

€10m

EARLY VC

€40-60m

10-50

Coffee Pixels's logo

Coffee Pixels

We've found the inspiration to do coffee in a whole new way - using the whole coffee fruit, not just part of the bean

food / manufacturing

coffeepixels.com

Baldone, Latvia

2010

-m

N/A

N/A

1-10

F3's logo

F3

Develops a social app for asking questions and creating answers, with all content disappearing in 72 hours

media / social media

f3.cool

Riga, Latvia

2018

3.55m

SEED

€14-21m

10-50

Chisell's logo

Chisell

MAIN - CHISELL

health /

chisell.eu

Riga, Latvia

2018

1-10

Klix.app's logo

Klix.app

One account for secure purchases in online stores

fintech / payments

klix.app

Riga, Latvia

2019

1-10

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