Countries. Latvia

Latvian Merito Partners acquires majority stake in AIOO, mobile device accessory retailer 

The Riga-based Merito Partners’ private equity fund has acquired a majority stake in AIOO, retailer of mobile device accessories and used smartphones. The amount of the deal is €3 million.

Latvian Adventum Tech wins the Fifty Founders Battle at TechChill 2023

The annual TechChill pitch competition called Fifty Founders Battle has announced the winner of this year, 2023. Codigy, Sisko, Green Growth, ZENOO, and Adventum Tech were the five finalists, with Adventum Tech taking the winning prize of €11,000 and up to €50,000 from Buildit Accelerator.

Latvian startup scene report: €92M of total investments in 2022

During the last three years, Latvian startup ecosystem went through a forced reboot. 2022 was a terrible year for the whole world, waking up slowly from the pandemic and being eviscerated by the devastating war in Ukraine. Latvian Startup Association

Startup of the Day: Latvian fintech startup Nexpay

Founded in 2017, Nexpay provides banking infrastructure for digital businesses, as well as a number of payments and accounts products. To date, the startup operates in 36 countries and open over 600 business accounts.

Idea Cup 2022 awards 12 startups with €40k. Latvian Suhona AI took first place

Riga-based Suhona AI, an autonomous railway maintenance startup, has won €10,000 in the Idea Cup 2022 competition. A total of €40,000 was awarded to the 12 finalists who wanted to develop their business ideas, Labs of Latvia reports. “There will

German Everfield buys Blue Bridge Technologies, Latvian healthcare software developer

The German investor and accelerator Everfield has purchased Latvian-founded Blue Bridge Technologies, a developer of information systems for the Latvian healthcare and insurance sectors, from the largest private equity firm in the Baltics BaltCap. With the transaction, Everfield will receive

Latvian volunteers launched Stopify – a donation streaming service in Ukraine’s support

A group of Latvian creative professionals and supporters of Ukraine developed Stopify – a simple service that allows you to ‘stream’ a small monthly donation to the Ukrainian Armed Forces, helping them end the war started by Russia. The story behind Stopify

Startup of the Day: Latvian 3D simulation software company CENOS

Founded in 2017 by three Latvian PhDs in physics and mathematics Mihais Scepanskis, Raimonds Vilums, and Vadims Geza, CENOS develops 3D simulation and modeling platform for engineers.

Latvian fintech Sun Finance issues €50M bonds

Riga-based fintech company Sun Finance has launched its largest bond issue to date worth €50 million. It will offer the bonds to investors in the form of a private placement, with a minimum investment of €100,000, Tech.eu reports. Founded in