Lithuania is an attractive country for both entrepreneurs and investors alike. The country is strategically located in Central Europe with access to both Russian and European markets. Vilnius, the capital of Lithuania, is rapidly becoming a center for fintech, gaming technology, ICT, and blockchain. So, here’s a list of 10 promising startups to watch out for in 2020 and beyond.
- DappRadar explores and analyzes the best blockchain decentralized apps (dapps). Founded in 2018, DappRadar monitors seven blockchains: ETH, EOS, TRON, IOST, LOOM, ONT, ThunderCore, collecting data about all applications in them. DappsRadar makes it possible to find out the number of users, the amount of cryptocurrency at the address of the smart contract, the number of transactions, user activity, and so on. In addition, the service is actively engaged in countering scammers. First of all, it detects fake traffic generated by bots and application owners. In 2019 the company raised $2.3 million in a seed round led by Naspers Ventures.
- Oxipit is a deep learning startup that solves medical and radiological problems. They are the leaders in AI medical imaging. Founded in 2017, the company aims to introduce innovative Artificial Intelligence/Deep Learning breakthroughs to everyday clinical practice, including computer diagnostics, pathology localization, and visual search. Medtech raised $1.7 million in a seed round in 2019.
- NEO Finance is the first and, so far, the only Lithuanian P2P platform operator. Founded in 2015, the company offers the possibility to invest in the loans of Lithuanian consumer credit receivers. Also, the platform has been offering its investors solid returns of 12-18%. NEO Finance has reached more than $1 million monthly issues. In 2019 they carried out its IPO, selling almost 193K shares for over $720K.
- GOSU.ai is a company focused on gaming data and AI. Founded in 2017 by the world’s leading experts in computer games Alisa Chumachenko, GOSU provides its users with a personalized guide to AI-powered tools to improve their gaming skills. A real-time voice assistant has also recently been added, which offers players strategy, tactics, motivation, and feedback for users. The startup has raised $2.9 million under the leadership of Brighteye Ventures.
- IDenfy is an online identity verification company, helps to reduce frauds and makes business smoother and more profitable. The company created its product to help businesses comply with Know Your Customer (KYC) rules and support electronic identity verification requirements. iDenfy software makes online identity verification through a smartphone or any computer device. Crunchbase reports, that IDenfy has raised a total of $363K in funding over four rounds.
- Profitus is a Real Estate crowdfunding and investment platform, an intermediary between investors, who want to receive funding for business ideas and real estate projects. Founded in 2017, the main goal of the company is to make investment available to everyone. Investments start at $120 and the platform is open 24/7. Different projects have different security tools that users can access in self-service for each project. In 2019 Profitus raised $10.8 million.
- Bankera is an international payment services business, offering solutions to individuals and companies. The fintech platform is built with a focus on digital businesses. They are building a bank alternative for the blockchain era. Having raised over $120 million through its ICO in 2018, they renewed its website in 2019, launched a new product, Bankera Loans, and its existing product Spectrocoin reached around 1 million customers.
- Qoorio is a mobile app company for sharing life learnings and knowledge. Founded in 2018, Qoorio is aimed to create a platform that would enable any human to learn from any other human in the world and to increase learning possibilities beyond close social circles. In 2019, Qoorio closed two financing rounds and attracted $2.9 million. The first round of $643K was led by Change Ventures and the second-round was led by Mangrove Capital with $2.3 million investment.
- Evarvest unites the world’s stock exchanges, making it simple to invest in the brands you know and love without commission. Founded in 2018, they are making investing as simple as having a smartphone. It offers over 8,000 stocks to choose from and over 30 stock exchanges around the world. Evarvest has raised a total of $276K in funding over two rounds. Their latest funding was raised on May 14, 2019, from an Equity Crowdfunding round, Crunchbase reports.
- LastMile is a same-day grocery delivery service. Users can make orders from different stores and the company is promising delivery within one hour. It offers over 10,000 products and soon they want to expand from Vilnius and Klaunas to other regions. LastMile has raised a total of $120K in funding over three rounds. Their latest funding was raised on Jan 27, 2020, from a Seed round, Crunchbase reports.
