13 Tech Startups from Latvia You Need to Know About in 2017

by Jelizaveta Ivanova 6,310 views0

The Baltic region has historically been a crosspoint of the East and the West; today, this legacy is carried forward by its tech innovators. This is especially the case in Latvia, where startup-friendly regulation and excellent geographic connectivity continue to boost its relatively young startup scene.

From education fundraising platforms to fintech credit scoring solutions, the following are 13 Latvian tech startups you need to watch out for in 2017 and beyond.

13. BranchTrack

Source: branchtrack.com.

BranchTrack is a platform for building interactive corporate training materials—the solution integrates realistic customer simulations into the learning process as well as learner behavior analytics to help firms understand skill gaps for improvement. The startup closed €1250,000 in seed funding last year and is currently raising another fundraising round.

12. Funderful

Source: funderful.com.

Funderful is an online platform aimed at helping universities and education institutions manage their fundraising campaigns and increase donations. Its clients span 8 countries across the globe and have collectively raised millions of dollars from alumni donations through the platform.

11. AirBoard

Source: airboard.co.

AirBoard produces the world’s smallest manned aircraft, akin to a flying segway. Designed for emergency response providers and recreational aviators, the vehicle features 8 built-in motors and is controlled by shifting one’s weight.

10. Edurio

Source: edurio.com.

Currently in use by over 200 schools in 3 countries, Edurio’s survey platform enables educators to track students’ progress and comprehension. The startup recently received €1.86 million in funding from the European Commission via the Horizon 2020 Open Disruptive Innovation scheme for SMEs.

9. Blue Shock Race

Source: blueshockrace.com.

Liepaja-based Blue Shock Race started off producing/promoting electric bicycles in Latvia; today, the company specializes in developing next-generation electric power go-karts. The company has opened two indoor electric carting halls in Latvia and plans to launch projects in Lithuania and Estonia, as well as various other European countries and the US.

8. Mint

Source: mint.me.

Mint is a streamlined dating app that offers a clean UI and barrier-free connections: the offering allows users to chat with anyone they like and meet people nearby, no matching required. The company’s team previously founded the popular social Q&A network Ask.fm.

7. Nordigen

Source: nordigen.com.

Nordigen is a fintech startup that uses artificial intelligence (AI) to assess the risk profiles of loan applicants. The company currently works with banks and non-bank lenders in 8 countries worldwide.

6. Giraffe360

Source: giraffe360.com.

Giraffe306’s 360° rotating camera device and software platform allows users to create virtual tours for the web, mobile devices, and virtual reality headsets. Last year, the company raised a half million euros from a private Estonian venture capital consortium led by Koha Capital.

5. Sonarworks

Source: sonarworks.com.

In use by over 5,000 studios around the world, Sonarworks’ Reference 3 sound calibration software optimizes sound quality based on specific speaker/headphone models. The 2016 Rio Olympics musical presentation was created with the help of the company’s calibration technology.

4. Anatomy Next

Source: anatomynext.com.

Anatomy Next develops web-based 3D, augmented reality, and virtual reality (VR) software for use in medical education and healthcare use cases—think Google Maps for the human body. The company features the most accurate anatomical models validated by medical educators from the University of Washington.

3. Monea

Source: monea.me.

Monea was conceived when a group of friends were confronted with the challenge of splitting a bill after a Sunday lunch together. The app allows users to send and receive money to/from phonebook contacts in a matter of minutes, even across different banks.

2. Vividly

Source: vividlyapp.com.

Vividly merges architecture and VR by enabling users to walk through buildings before they are built. The app allows architects to drag and drop 3D models for instant VR experiences on mobile devices.

1. Mozello

Source: mozello.com.

Mozello enables non-technical users to create beautiful websites without having to learning how to code or hire expensive developers. The company received recognition at the Startup Europe Awards 2016 in the creative industry category.

As you can see, the Latvian startup ecosystem is comprised of tech innovators with digital offerings on par with the best and brightest from Silicon Valley. Be sure to keep these 13 startups—and the region at large—on your radar in 2017 and beyond.



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