Tech Headlines Nov. 27: Lithuanian Pet Care Startup Boop Reaches 3.2M Valuation


🐕 Lithuanian Pet Care Startup Raised $329K

Boop, a Vilnius-based pet care startup, has secured $328,485 (€300,000) in funding led by UAB Globalūs Investiciniai Sprendimai, propelling its valuation to $3.2 million (€3 million) and enabling expansion into Poland and Finland. Founded in 2021 by Deividas Celencevičius and Gediminas Geigalas, Boop’s app connects pet owners with caregivers, offering insurance coverage and clear contractual terms, positioning itself as an alternative to traditional pet boarding services while serving approximately 15,000 Lithuanian members every month. [Source:]

🧸 Lithuanian Toy Subscription Service Secured $136K

Liledu, a Lithuanian toy subscription service, has secured $136,868 (€125,000) in funding from FIRSTPICK VC and undisclosed angel investors, aiming to fuel its expansion into new markets, including the United Kingdom. With a focus on sustainability and innovative educational toy sets for children aged 5 months to 7 years, Liledu plans to use the investment to test its services internationally and redefine the traditional toy market. [Source:

💰 Estonian Startup Wise Guys Invest Up to $218K in Twelve Startups

Startup Wise Guys, a prominent accelerator, plans to invest up to $218,990 (€200,000) in twelve B2B SaaS startups, specifically targeting early-stage businesses with a focus on Industry 4.0 in Bilbao. Glassity, an Estonian AI-driven B2B SaaS, secured $164,242 (€150,000) investment and automatic participation in the program, while other startups like Bitefulapp, Tabelo, RatingCaptain, useflow_tech, weareplatterful, uspacycom, SelectAM Oy, Chatty Insights, examenexam, Gaddex, and doFlo offer innovative solutions ranging from cloud governance, restaurant services, AI-based tools, workflow automation, and more across various industries and regions. [Source: BalticVC]

💵 Estonian County Ida Virumaa Startups Reach Turnover of $2.5M So Far in 2023

In the first three quarters of 2023, Ida Virumaa’s county startups in Estonia surged to $2.5 million (€2.3 million) turnover, up 45% from $1.7 million (€1.6 million) in the same 2022 period. RhomTrip led with $996,404 (€910,000) turnover, followed by PROSW Analytics at $630,691 (€576,000) and Friedegggames at $542,000 (€495,000), while Efenco, employing 23, topped labor tax contributions. Additionally, the Estonian Ministry of Finance of Estonia and Startup Estonia organization pledged $723,871 (€661,100) over three years to advance Ida-Virumaa’s startup network. [Source: BalticVC]

🖥️ French Data Startup Received Investment from Baltic Investors 

New Nordic Ventures and investor Roman Garin jointly invested $383,232 (€350,000) in French data startup Rapid Delivery Analytics. Rapid Delivery Analytics provides comprehensive analytics on rapid grocery delivery services across 40 countries, integrating data from 50K+ delivery zones for brands to access insights like out-of-stock details, pricing variations, and competitor positions on a dashboard. Riga-based New Nordic Ventures supports seed-stage B2B software startups in CIS and CEE regions, investing in ventures like Crosscreators, Oh My Synt, DrugCard, Moeco, and Petabox.[Source: BalticVC]

🇪🇺 Latvia To Receive Funds From European Regional Development Fund to Launch VCs

Latvia is set to receive $61.09 million (€55.8 million) from the European Regional Development Fund to launch three venture capital funds for European pre-seed and seed-stage startups, each receiving $20.3 million (€18.6 million) and an additional $2.26 million (€2.07 million) from private investors. These funds, managed by ALTUM, aim to support startups like NACO Technologies, Alternative Plants, and RoboEatz, while ALTUM plans to announce additional tenders in December 2023 to invest $40.7 million (€37.2 million) in startups and growth-stage projects, contributing to the Baltic startup ecosystem alongside the Fund’s initiatives. [Source: BalticVC]


💰Ukrainian Flyer One Ventures Invests into American AI Startup

Ukrainian fund Flyer One Ventures has become a leading investor in American AI startup Scalestack, contributing to its $1 million funding round. Founded by Elio Narciso and Alessandro Prioni, Scalestack’s AI-powered RevOps platform streamlines sales targeting by automating data enrichment, empowering sales teams to identify potential customers efficiently, as used by clients like MongoDB and Typeform. [Source: InVenture]

☁️ Dutch and Ukrainian Investors Back, a Dutch-Ukrainian-American scaleup revolutionizing the global print industry, secured significant financing from Dutch and Ukrainian investors, amid challenges from geopolitical and economic instability, particularly in Ukraine. Despite hurdles, the company’s innovative print-on-demand platform automates global print processes for enterprises across 104 countries, propelling from startup to scaleup and aiming for further growth in the coming year. [Source: TechUkraine]

💲Ukrainian-founded Companies Attract International Investment

Ukrainian-founded companies are actively securing international investments. Swarmer, an AI startup simplifying multi-drone operations, recently received funding from the D3 fund and accelerator, while Firefly Aerospace, founded by Maks Polyakov, announced the third tranche of series C investment, amounting to $300 million since February 2023, with a preliminary company valuation of $1.5 billion. [Source: Ukraine Business News]


☀️Kazakh Startup Delivers First Batch of Photovoltaics to Uzbekistan

A Kazakh startup, BETA IZOL, in collaboration with ENU’s JSC “Park of Nuclear Technologies” and “KazElectroMash” LLP, has initiated Kazakhstan’s first production of cables for photovoltaic systems. The company has secured a contract with Uzbekistan for the supply of innovative cables with radiation-modified insulation, with the initial batch already delivered for constructing solar panels, marking a significant milestone in the Kazakh market for cable and wire products designed for alternative energy sources. [Source:]

🎓“Hour of Code” Event Held To Spread Information About IT

The USTEM Foundation, supported by Kazakhstan’s Ministry of Education, will host a nationwide “Hour of Code” event from December 4 to 11, 2023, aiming to engage over 500,000 schoolchildren aged 6 to 18 in learning about innovative technologies. This initiative seeks to introduce computer science to students across the country, emphasizing inclusivity by providing programs suitable for various learning conditions, inspiring both teachers and participants toward an innovative approach to education with a focus on artificial intelligence. [Source:]

💰Silkway Accelerator Participants Received Over $8M In Investment

During the Silkway Accelerator program’s fourth stream, startups collectively raised over $8.1 million in investments, marking a significant milestone in Kazakhstan’s tech landscape. The accelerator, a partnership between Astana Hub and Google for Startups, has aided 49 startups in international market entry, achieving a combined valuation of $250 million and increasing monthly recurring revenue (MRR) to $2.2 million, while startups like Zebra Eye secured $200,000 commitments from private investors during the program.[Source:]


💳 Turkish Fintech Startup Enters Uzbekistan

Turan Teknoloji Anonim Şirketi, a Turkish fintech startup, plans to launch its payment services in Uzbekistan by November, aiming to facilitate money transfers between Turkey and Central Asian countries, with plans to expand to Kazakhstan and Kyrgyzstan. The move reflects their commitment to enhancing global networks and providing secure, convenient, and simplified money transactions for customers across multiple languages, including Uzbek and Russian, expanding its services in the region following QIWI Uzbekistan’s announcement to cease operations in December. [Source:]

🖥️ Islamic Fintech Startups Expands in Uzbekistan

Alif, an Islamic fintech startup, has announced the issuance of $50 million worth of Islamic bonds (sukuk) according to Yahoo Finance, intending to direct the raised capital into bolstering its Uzbek subsidiary, Alif Moliya. The funding aims to augment alif nasiya, commanding over 35% of Uzbekistan’s buy-now-pay-later market, while Jefferson Capital, the primary investor, anticipates an annual 12-14% yield from these securities. [Source:]


🏛️Ex-CEO of Game Insight Charged in Russian Court

The Russian court has ordered Julia Vinokurova, former CEO of Game Insight, to pay $90,769 (€82,900) while 130 lawsuits have been filed against ex-employees for accepting offers to work in new entities related to Igor Matsanyuk amid Game Insight’s pre-bankruptcy. Lithuanian Game Insight Group, connected to Matsanyuk, announced intentions to settle $2.1 million (€1.92 million) debts owed by its Russian subsidiary, primarily due to unpaid salaries, as the bankruptcy trustee accused the Lithuanian company of deliberate bankruptcy of its Russian counterpart, Game Insight. [Source: BalticVC]


🤖 Automated AI Governance Startup Announced $1.6M Pre-seed Funding

Impact.AI, a Linz-based startup, secured $1.6 million (€1.5 million) in pre-seed funding for its AIProductOps platform, aiming to streamline AI product management and governance. The investment, led by Austria Wirtschaftsservice, FFG Österreichische Forschungsförderungsgesellschaft mbH, and various angels, supports Impact.AI’s mission to provide automated AI Governance and QA tools, transforming AI teams’ work processes and enhancing confidence in deploying AI applications. [Source:]


💻 Cloud Storage Startup Raised $75M in Series C Funding

LucidLink, a US-Bulgarian cloud storage startup, secured $75 million in Series C funding, led by Brighton Park Capital and joined by major existing investors like Headline, Baseline Ventures, and Adobe Ventures. Founded in 2016, LucidLink’s SaaS solution facilitates secure collaboration on large media projects, catering to teams from companies such as Adobe, Netflix, VICE, and others. The funding aims to accelerate product development and enhance personalized product experiences for creative professionals, according to George Dochev, LucidLink’s CTO and co-founder. [Source:]

📝 HR Startup Secured $1.9M in Funding

nPloy, a Bulgarian HR startup, raised $1.9 million (€1.8 million) in a fresh round led by Morningside Hill VC with plans to expand into Romania. Founded in 2019, nPloy uses algorithms to match job seekers with suitable employers, aiming to revolutionize the job application process by tailoring positions for candidates. The investment, backed by Morningside Hill VC and Blue Ocean Ventures, will drive platform development and substantial candidate base growth in Bulgaria and Romania in the next two years. [Source:]


💡Czech Inven Capital Invests $10.9M in Swedish Software Company

Eliq, a Swedish software company specializing in home energy efficiency, secured $10.9 million (€10 million) in growth funding led by Inven Capital, Axpo, and Valkea. Founded in 2016, Eliq’s platform interprets energy data, and facilitates energy-efficient usage guidance, and green financing solutions, aiming to empower 1 billion individuals for a greener energy future across 15 European countries with over 30 live customers. The investment will aid Eliq’s expansion efforts and product development to advance the home energy transition. [Source:]

🌐 Cybersecurity Startup Raised $1.5M

Blindspot Technologies, a Czech cybersecurity startup, raised $1.5 million (€1.4 million) in a funding round led by Presto Ventures, Damir Spoljaric (Gi21), and Prozeta. Established in 2023 by David Cermak, Blindspot specializes in DDoS protection and plans to use the investment to scale operations and expand into vulnerable cyber attack-prone markets like Southeast Asia, aiming to become a global leader in cybersecurity services. [Source:]


🤝 bValue Fund Acquired Local Cloud and Server Provider

Poland’s bValue Fund has acquired a 69% stake in Hostersi, a Rybnik-based cloud infrastructure services provider, marking the first significant transaction of bValue’s third fund. Founded in 2007, Hostersi offers IT solutions including cloud migration, DevOps, and server management, partnering with leading cloud platforms like AWS, Microsoft Azure, and Google Cloud, while bValue Growth focuses on supporting high-growth companies in the CEE region, aiming to aid Hostersi’s growth and target an annual revenue of $54 million (€50 million) in the future. [Source:]


💡inDrive Launches New Ventures Initiative 

A new arm called New Ventures has been launched by inDrive, a portfolio company, aiming to invest in pioneering startups dedicated to challenging injustice. Andries Smit, appointed as the Vice President, brings extensive experience in steering companies through strategic transformations, acquisitions, and integrations. The initiative investment focuses on startups that challenge injustice, have a local to global mindset, showcase rapid organic growth, and have post-seed or pre-series A backing from companies. [Source: LinkedIn]

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