According to a recent report by Nordic-Baltic banking giant Swedbank, 40-60 % of Lithuanian startups are continuous—meaning their teams, business models, and finances were strong enough to make it past the first year to continue development.
It’s no wonder that local startups are increasingly making their presence known in the global tech startup arena. Here are 11 of the top startups from Lithuania you need to know about in 2018 and beyond.
Veleza’s platform allows users to discover new beauty products and receive personalized product recommendations at scale from leading brands and retailers. The offering features one of the most comprehensive beauty product libraries in the world, from L’Oréal Paris to Urban Decay.
Trafi began as a hobby side-project by a group of young entrepreneurs; the company has since evolved into a foreign and local VC-backed venture, having raised $6.5 million in series A funding led by Octopus Investments and EBRD Venture Capital. The travel offering allows users to plan the fastest and/or most efficient routes between destinations.
Affise has developed a traffic tracking platform that allows users—namely advertisers, agencies, and publishers—to create their own affiliate networks. Additionally, the company’s CPAPI solution allows CPA marketers to optimize their online revenue-generating activities with precision-driven automation.
For big city inhabitants, transportation mishaps and traffic jams are just a fact of life. Like Trafi, Disabled Enabled is startup focused on addressing these issues; however, the solution is designed for disabled citizens and their special needs.
Tellq has developed a cloud-based customer support phone system that enables companies to never lose a customer’s call—using the solution, customer service specialists can instantly recognize who’s calling, view order histories, reduce wait times, place orders, and more.
Hunters is a real estate recruitment platform that provides agencies with a continuous stream of pre-qualified candidates. The company sources its extensive database of candidates from social media, Google, and targeted databases, among others.
Rent Boutique has developed a cost-effective rental platform offering party apparel, costumes, and outfits for special occasions. The company partners with various fashion houses and designers to offer otherwise expensive items to average consumers.
SearchNode aims to help companies improve e-commerce website retention and increase visits with its plug-and-play search technology. 100% bootstrapped since its inception, the company today boasts 6-digit annual revenues and over 100 clients from 13 countries.
Whatagraph’s solution automatically converts website traffic data and social media analytics into engaging, visually compelling reports. The company recently experienced a 450% increase in revenue and counts leading brands like Land Rover, Toshiba, Jaguar, and Pfizer as customers, to name a few.
Monimoto has developed a smart alarm for motorcycles that is completely wireless and doesn’t drain the bike’s battery. The solution can be easily self-installed, alerts users remotely via the accompanying mobile app, and is capable of transmitting GPS coordinates of the motorcycle.
Pixevia’s platform uses artificial intelligence (AI) for identifying objects from the air remotely: cars, license plates, people, faces, infrastructure objects—as well as their size/speed/coordinates, from multiple video footages in real time. The solution is currently being used for surveillance/security, parking analytics, retail operations, and other use cases.
As you can see, Lithuania is one of the EU’s most promising (and perhaps underrated) rising stars when it comes to tech innovation. And with ongoing support from organizations like Startuplithuania.lt, Vilnius Tech Park, INVEGA, and Investuok Lietuvoje (Invest Lithuania), among others, the country’s startups are set break new ground this year. Be sure to keep them on your radar in 2018 and beyond.