Fatmap, a platform for outdoor adventure lovers and mountain professionals with global 3D mapping technology, received an undisclosed funding round.
WePower, a Vilnius, Lithuania-based blockchain-based green energy trading platform, raised $40m during its ICO.
Lithuania’s Parliament has approved amendments to the law which enables the creation of “start-up visas.”
Vinted, a San Francisco, CA-based second hand fashion marketplace, secured $27m in Series C funding.
Trafi, a Vilnius, Lithuania-based journey planning app for commuters and travelers, raised $6.5m in Series A funding. The round was led by Octopus Investments, with participation from EBRD Venture Capital Investment Programme, BaltCap and Practica Capital. The company intends to use the funds to launch in additional markets, scale the team, including the planned hire […]
CGTrader, a Vilnius, Lithuania-based marketplace for 3-D models and content, received an investment from Intel Capital. No financial terms were disclosed. Intel Capital’s investment was led by Klaus Konrad and existing backer Practica Capital participated in the round. The company intends to use the funds to accelerate the growth of itd digital library, distribution channels […]
Vinted, a Vilnius, Lithuania- and San Francisco, CA-based secondhand marketplace, raised $27m in Series B funding. The round was led by Accel Partners with participation from Insight Venture Partners. The company intends to use the capital to expand in the United States and continue product development. It launched in the United States in the summer of 2013 and […]
Trafi, a Lithuanian startup that provides a journey planner, raised $500k in seed funding. Practica Capital made the investment. In addition to the funding, former Nokia Maps chief Sylvain Grande is joining the board. The company will use the funds to expand in key markets not well covered by leading players like Google. Expansion will […]
The European Investment Fund (EIF) has injected €6m into Practica Seed Capital Fund, a seed capital fund focusing on new idea development opportunities in Lithuania. The fund aims to develop new businesses by financing and incubating the prospective ideas and help them to develop at the pre-seed and seed stages. A business accelerator – called […]
Labochema, a Vilnius, Riga and Tartu-based pan-Baltic laboratory supply provider, has received a growth capital investment of undisclosed amount from Lithuania SME Fund managed by BaltCap. Along with the equity investment, Siauliu bankas will provide a new loan facility to Labochema. These capital is expected to support the company’s continued growth in Lithuania and other […]
Impuls LTU, a Lithuanian health club chain, has received an investment of undisclosed amount from BaltCap. The company intends to use the proceeds to expand the chain, both organically and through add-on acquisitions. Impuls operates the leading Lithuanian health and fitness club chain with 8 gyms in the country’s main towns. The company operates only […]
Ygle, a Vilnius, Lithuania-based provider of building systems solutions, has received a majority investment of undisclosed amount. The equity financing was provided by Lithuania SME Fund, a growth capital fund managed by BaltCap in 2010 as part of the JEREMIE initiative in Lithuania. With the transaction, BaltCap has acquired 60% of the company. Along with a new […]
SIA Runway, a business process outsourcing service provider, has received an equity investment of undisclosed amount from BaltCap. With the investment, BaltCap Private Equity Fund advised by BaltCap has acquired 40.82% of Runway’s shares from the company’s largest shareholder, Norwegian firm Dasha AS. The investment is intended to help the company further expand in the […]
BaltCap has successfully attracted private fundraising for the first ever risk capital fund to invest into Lithuanian SMEs. This forms part of the European Investment Fund (EIF)-managed JEREMIE Holding Fund initiative in Lithuania. This fund will focus on expansion financing of SMEs with established operations and growth potential taking equity stakes of up to €3m […]
The European Investment Fund (EIF) and Swedbank Lithuania signed an agreement under which Swedbank will provide loans worth €104m (over LTL 359m) to Small and medium sized enterprises (SMEs) in Lithuania. Swedbank will manage the newly created Funded Risk Sharing product under the JEREMIE initiative, designed to stimulate lending from banks to SMEs over a […]