After exploring Estonian, Latvian, Hungarian, Slovenian, Romanian, Czech, Bulgarian and Polish startup scenes, let’s move to another, rich and innovative CEE startup ecosystem - Lithuania. Check out the most interesting companies from this country!
Amberlo
Amberlo, is a cloud-based management software designed for law firms. It helps with everyday activities such as managing contacts & matters, sending emails, organizing documents, invoicing, time tracking, and planning daily activities. Due to smart file links, tagging, and notes Amberlo makes it easy to find, process and collaborate across high volumes of case law materials and cooperate with other employees. The platform gathers history in secure cloud storage providing quick access to customer data with role-based permissions that restrict the visibility of sensitive client information. The startup has raised €1,5M with Next Road Ventures, Iron Wolf Capital, Corvus Ventures and 70Ventures.
RedTrack
RedTrack offers a conversion attribution platform, which provides marketers with real-time data, alerts and automation to maximize return spend on each ad. The system handles billions of events per month and gives insights to affiliates worldwide measuring and improving ROI, CPA, revenue and conversion rates. Its features include over 150 one-click integrations, 20+ API integrated traffic sources and a set of tools for teamwork. Evaluation of marketing performance across all digital channels helps to optimize different conversion points and funnel stages. The company has raised €550K with Iron Wolf Capital and Genesis Investments.
Emotika
Emotika, a Lithuanian startup founded in 2020, is a soft skill training system and platform used by both individuals and companies. It provides users with consultations, group training, e-learning content and sessions with the best Lithuanian negotiators. Right now, Emotika is available only on the Lithuanian market but the expansion to foreign markets is already planned. The company has raised €100K with the US investor.
Boommio
Boommio helps to increase customer engagement by including gamification in e-commerce and advertising. Customers who participate in games can collect points and redeem rewards from Spotify, Amazon, Bolt, Forum Cinemas, Caif Cafe, Narvesen and other popular companies. This solution keeps customers willing to buy more products or services from famous stores and increases both sales and scale of their online advertising. Boommio is highly rated at Appstore and GooglePlay (4.7 average mark). The startup has raised €250K with 70Ventures.
Razzby
Razzby is setting new standards in event management and ticketing with it’s fast CDN-based website, advanced ticket & checkout form builder, handpicked selection of design palettes, multiple currency support and plenty of other options. The platform is very convenient for both event organizers and attendees, makes event management simple, fast, secure and convenient. Thanks to that solution, individualized event websites with photos, an agenda, FAQ, video, Google Maps location, registration form and more can be made within only a few minutes.
Inion
Inion provides software for solar energy panels, which creates a model of most effective placement of photovoltaic panels. The solution is incorporating 3D topographical blueprints in solar design which enables more accurate and comprehensive analysis of solar projects. It also avoids foreseeable obstacles that could block the sun rays and provides precise cable lengths that trail based on the terrain, increasing cable sizing & loss calculation precision. The IoT controller is designed for small plants (up to 30kW), medium ones (up to 100kW) and for the entire solar park. The startup has raised €550K with Contrarian Ventures and is supported by EIT Climate-KIC.
Qpick
Qpick created a Drive-to-Store marketing platform integrating digital systems and physical space for both customers and retailers. On the basis of the client’s interest and location, algorithmic learning shows highly accountable product offers. Over 1.5K retailers with physical stores from different industries like FMCG, Fashion, and Restaurant have already decided to use this solution. The startup has raised €188K with Societe Generale Bank Group, Startup Wise Guys, and Innovation Fund Macedonia.
Thrust
Thrust is a startup manufacturing UAV Systems and providing Aerial Diagnostics Services. Its products are multifunctional, customizable, and capable of making long-range and low-altitude flights at speeds from 30 to 260 km/h. Each drone model is designed especially for the needs of either the energy industry, military applications, roads, railways, forestry, agriculture, or cartography. Data analytics as a service is provided for both small-scale objects or large-scale enterprises along with the technical support. The company has raised €300K with Contrarian Ventures.
OpenFace
OpenFace uses AI technology for developing the skincare industry and meeting the individual needs of each client. Firstly, the customer fills in an online test to determine the skin type, and after that, receives a detailed skin report, basing on which, a lab selects the best ingredients and creates the cosmetics (including cleanser, moisturizer, serum, etc.) within 10 days. This process provides a tailored customer experience and helps to establish client’s loyalty and high satisfaction. OpenFace uses only substances with clinically proven efficiency, compliant with Good Manufacturing Practice standards, and offers 24/7 dermatological support. The startup has raised €280K with Digital Disrupt.
Biomatter Designs
Biomatter Designs is a pioneer in generative protein design combining knowledge of synthetic biology and AI. Company uses a set of experimental tools for the most efficient collection of biological data and AI specifically for protein science. This approach makes it possible to develop novel protein therapeutics and industrial enzymes, and also to conduct deep learning-driven optimization of specific protein properties. The solution can be used to create highly functional protein libraries built with proprietary generative machine learning platforms. The startup’s partners and customers are reputable companies and universities such as Nvidia Inception Program, Twist Bioscience, Google for Startups, CHALMERS University of Technology, and Vilnius University. Biomatter Designs has raised €500K with Practica Capital and 70Ventures.
Aimera
Aimera has designed an open platform helping B2C companies to activate customers, improve conversion rates and increase retention, by implementing entertaining forms of gamification for clients. Customers can participate in simple challenges: learn, try, engage with the company's products and channels. For participation and activity, a user is rewarded with a digital currency, which can be redeemed for real gifts such as products, food, loyalty cards, etc. Aimera is proven to achieve 30-50% higher product usage, 2x more reduced CPA than Google AdWords and 5x lower CPA than Facebook Ads. The startup has raised €100K with an undisclosed investor.
Meazy
Meazy offers effective retargeting strategies to boost online sales, and it is fully integrated with online stores like Shoptet, Shoplo, Woo, Ecwid and BigCommerce.
Within 24 hours of integration, Meazy will analyze the data about visitors to gather actionable insights. Ads are generated according to the preferences and browsing history of the client, so it makes customers more likely to purchase advertised products. There is a possibility of choosing a preferable marketing strategy duration – 14, 30, or 60 days. An optimal budget will be calculated for each strategy and store, and adjustments can be made in every moment. The startup has raised €220K with Startup Wise Guys.
CastPrint
CastPrint is designing and manufacturing cast stiffeners for damaged limbs with 3D printing technology. Models include prostheses for wrist, scaphoid bone, metacarpal fractures and feet, they are tailor-made, lightweight, ventilated and waterproof, enabling patients to spend their recovery time actively and wash injured limbs more comfortably than in orthodox prosthesis. The solution is saving doctors and hospitals time by 15% on each fracture case. Products can be ordered and received via many clinics in Lithuania and the United Kingdom.
SmartSub
SmartSub gives support to advertising and analytics in Google Ads thanks to AI technology. The software analyses internet ads with 20+ parameters and 100+ keywords, and then adjusts the content to the receiver. The concept provides daily statistics of ads, collects data about leads and analyzes the efficiency of the campaign, offering improvements for the next period. SmartSub was trusted by Startup Wise Guys, Huge Thing and Google.
Airate
Airate, an online platform for wine merchants, connects customers with local winemakers, helping them to discover and try exclusive wines & spirits. Users can choose from over 1000 unique products and receive personalized recommendations on the basis of their purchase history. By simplifying the wholesale buying process and offering straightforward financial terms and logistics, Airate is successfully gathering a community of wines & spirits consumers and retailers. The startup was mentioned in Novaya Gazeta as “it intends to change the wine industry rules'' and placed among the 10 most innovative retail companies of 2020 by Forbes. Airate has raised €100K with an undisclosed investor.
Discontract
Discontract provides an access to a wide range of home services involving electrical work, plumbing, transportation, yard maintenance and home reparation. The website matches requests of customers with experts from specific fields providing high-quality services. Homeowners can choose service providers based on their ratings, reviews, prices, and work experience, while workers receive secure and quick payments. Discontract guarantees 24/7 assistance and information & technological tools so all the procedures are done efficiently. The startup has raised €300K with Convest Capital and Business Angels.
Properenty
Properenty is an all-in-one real estate management solution, which provides information about leases, communicates with tenants, automatically collects rent & utility payments, manages properties, tracks financials, and archives and shares invoices from multiple bank accounts. It is proved that even up to 70% of costs can be reduced by its automating activities. Extended PRO version provides more functionalities, including generator of digital leases, property maintenance reminders or automatic collection of late fees. The company has been featured in business and news portals like alfa.lt, Dieta.lt, Structum and bzn Start.
Perfection42
Perfection42 created an AI-based technology for game developers, 3D animators or video creators. Creation of personalized game experiences for players is possible due to quantifiable data usage, which improves development velocity. The solution makes small daily updates rather than bigger ones in monthly cycles, giving more time for developers to make important decisions on their projects. Incorporating concepts of Sparse Distributed Representation (SDR) gives each bit a meaning while Differentiable Neural Computer (DNC) can learn, recognize patterns and retain information in complex data structures. The company has raised €280K with Open Circle Capital and 70Ventures.
Want to discover more interesting startups from other countries? Check out the list below. Top Startups from:
- Austria
- Belgium
- Bulgaria
- Croatia
- Czech Republic
- Denmark
- Estonia
- France
- Finland
- Germany
- Greece
- Hungary
- Italy
- Latvia
- Luxembourg
- Netherlands
- Norway
- Poland
- Romania
- Serbia
- Slovakia
- Slovenia
- Sweden
- Türkiye
- United Kingdom
- Western Balkans
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7 Hungarian Startups And Scaleups Worth Attention In 2020 (by Mateusz Walczyk, Startup Analyst, Vestbee)
