According to the World Economic Forum, Lithuania is among the top entrepreneurial hotspots in Europe. Therefore the governmental organization Startup Lithuania picked 7 of the most promising startups out of hundreds in the region to represent the vibrant startup ecosystem in the Baltics. They are visiting major startup events in the most prominent ecosystems in the world.
Slush as a global world-renowned startup event is one of the most impactful for Lithuanian startups. On November 30 to December 1 they will have their booth showcasing themselves at Slush.
Each year Startup Lithuania brings startups to meet investors worldwide and attract early stage investments. This year you can meet startups that are building in-house electrical engines for commercial transport, call center solutions for E-commerce, AI for drones, communication tools for makers or even those taking on the beauty industry. All of them are working with well-known clients, have traction, and unique visions.
Startups were selected to represent Lithuania after being carefully evaluated by the jury, consisting of investors and industry professionals from companies such as Google. Meet the seven most promising startups, in no particular order, who top the chart in Lithuania this year.
With Veleza, consumers save time and money by discovering the best matching products, while brands and retailers are offered solutions to personalized product recommendations at scale. Veleza has one of the most comprehensive beauty product libraries in the world and is making $100K in revenues by working with leading beauty brands such as L’Oréal Paris or Urban Decay.
CEO: Martynas Nikolajevas, a serial entrepreneur who most recently played an important role in making Treatwell a success in the beauty services space. Treatwell’s exit was one of the biggest in Europe in 2015.
Looking for: $1.3M seed.
Tipi is a communication tool for makers – people who want to get things done. It helps to reduce distraction and information overload. Small-mid size businesses worldwide recognize this problem and therefore Tipi has 110% monthly growth.
CEO: Aurelija Urbonaviciute- entrepreneur | change maker | polar explorer. Currently reinventing communication for makers, Aurelija has a background in business psychology and previous experience in heading global end user technology functions @Barclays bank.
Looking for: $800K seed.
Whatagraph is a web tool that automatically converts website and social media analytics data into engaging visual reports. Last year Whatagraph experienced 450% revenue growth and works with such brands as Land Rover, Toshiba, Jaguar, Pfizer, and many others.
CEO: Justas Malinauskas – businessman with 8 years expertise in business development and sales. One of the top 30 entrepreneurs in Baltics. It is not the first business of his since he had marketing agency just before Whatagraph was launched.
Looking for: $600K seed.
Hunters is a recruitment platform for real estate agencies. Unlike other competitors, Hunters provides a constant flow of new pre-qualified candidates for real estate agent position. Since 2015, Hunters has helped 651 salespeople to land jobs across Europe.
CEO: Ziuljenas Gleckas, Hunters CEO. 12 years of proven track record of success in real estate business. In 2015 under Ziuljenas management RE/MAX Lithuania became the fastest growing region in Europe.
Looking for: $1.4M seed.
Tellq – the next generation call center software for E-commerce businesses. Its integrations with E-commerce platforms, such as Magento, Opencart or Shopify, enable customer service teams to never lose a single call. Integration and specific workflow help businesses improve answered calls rate and personalize call handling to improve sales performance. Tellq user base grows 20% month over month and it’s ready to disrupt an old telecom industry.
CEO: Domas Povilauskas, a young & ambitious founder with 5 years of experience in developing an investment management systems for the most prominent financial institutions in Lithuania & Belgium.
Looking for: $700K seed
PIXEVIA – artificial intelligence for smart city and drones. We identify objects like cars, their licence plates, size, speed or coordinates, people, faces, infrastructure objects from multiple video footages in real time. Application of this AI system is boundless and already adopted for surveillance and security purposes, retail, parking analytics. Pixevia’s technology was presented in the biggest technology events around the world like NVIDIA GTC (Silicon Valley), Embedded World (Germany).
CEO: Mindaugas Eglinskas has 15+ years of experience in machine learning field, Assistant Professor at Vilnius University.
Looking for: $700K seed.
Elinta Motors develops and deploys a cutting-edge and cost-efficient electrification systems for light and medium duty trucks. Currently Elinta Motors is in pre-production stage of in house developed 100 kW Plug-In drive system for vans up to 5.0t and 200 kW EV drive system for vehicles up to 7.5t. Elinta Motors works with world known delivery services to validate their drive systems in everyday operation.
CEO: Laurynas Jokuzis has 10+ year experience in the field of EVs and product development practice ranging from electric bikes, motorcycles, charging stations and commercial electric vehicles.
Looking for: $2.5M Series A.