Top 7 Largest Investments Attracted by Lithuanian Startups This Year
Lithuanian startups have already attracted €32 million in investments in the first half of this year, with an average investment amount of €1.87 million per investment. Eleven startups have secured more than €1 million each, with the largest single investment amounting to €9.3 million.
Compared to the first half of last year, the total amount of attracted investments decreased by 9% (from €35 million to €32 million). However, 70% more startups attracted investments this year (from 10 to 17), according to data monitored by the Lithuanian startup association "Unicorns Lithuania".
Top 7 Largest Investments in Lithuanian Startups This Year:
- TransferGo – €9.3 million
- Unmanned Defense Systems – €3.2 million
- Spike – €3.2 million
- Saltz – €3 million
- Evergrowth – €2.5 million
- Axiology – €2 million
- Pixevia – €1.5 million
Additionally, four other startups have each attracted €1 million this year: personal AI mentor "Leya AI", sustainable activity platform "Walk15", cloud optimization solutions startup "CTO2B" and "Softloans" a technological solution facilitating revenue-based lending.
Upcoming Major Startup Deals in the Coming Months
"From various perspectives, the Lithuanian startup ecosystem appears quite strong this year. I would highlight the activity level – 17 investments, significant sums at a very early stage. The infrastructure, marketing, payment, and customer support opportunities needed to create a startup have never been better, and the availability of information and finance allows for efficient and global operations from day one. Now is the perfect time for people with ideas to develop them into products that create real value globally. Trends show that there is capital in the markets, but it has become more selective – investors are looking for quality investment opportunities," says Ruta Pukene, acting head of "Unicorns Lithuania."
According to her, although the total amount of attracted investments is currently slightly lower, indications suggest that we might see at least a couple of larger startup deals in the coming months.
Where is Investor Attention Directed?
According to Greta Mieliauskaite, head of the Lithuanian Venture Capital and Private Equity Association (LT VCA), future perspectives and trends indicate that there is a considerable amount of capital in the market that could significantly boost the expansion of Lithuanian startups.
"This year, a significant amount of investments have been directed towards artificial intelligence (AI) startups. It is likely that as AI continues to advance and integrate into more areas, this trend will persist. Additionally, we are seeing increased investor interest in deep tech and clean tech startups. Dual-use technologies are also receiving considerable attention. However, fintech startups remain among the most popular – the largest investment in the first half of the year went to money transfer company 'TransferGo'. It's encouraging that we continue to strengthen our image abroad each year and attract more investments from the Baltic countries, the USA, and other regions. Overall, the increasing pan-Baltic focus of startups is a good sign for the entire region's startup ecosystem," she notes.
The latest Baltic private and venture capital market report revealed that there is currently more than €1.5 billion in dry powder (available capital) in the market, some of which could be invested in startups based in Lithuania. Therefore, we can expect to see more investments aimed at pre-seed product or service development this year.
"LT VCA members, pre-seed and seed investors such as 'FIRSTPICK,' 'Practica Capital,' 'Iron Wolf Capital,' 'Baltic Sandbox Ventures,' and others also plan to continue investing actively this year. At least 10 investments are expected to be made," forecasts G. Mieliauskaite.
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