Buildit VC
Buildit VC, established in 2013 in Estonia, is a pioneering accelerator dedicated to supporting hardware and IoT startups. As the first hardware-focused accelerator in the Nordics, it has grown significantly over the years, receiving over 3,500 applications and supporting more than 100 startups from 18 different countries. The program spans four months and helps entrepreneurs refine their prototypes, navigate the market, and secure significant investments, with the capacity to invest up to €1.5 million in promising ventures. Buildit has already seen successful exits from its portfolio, reflecting its commitment to fostering innovation and entrepreneurship in the hardware sector. The organization is backed by the Altum Accelerator program, financed by the European Regional Fund, further enhancing its capability to empower startups in achieving their goals.
Past deals in Latvia
Alternative Plants
Seed Round in 2022
Alternative Plants, SIA is a biotech start-up based in Riga, Latvia, founded in 2017, specializing in the development of active ingredients derived from plant stem cell cultures. The company focuses on creating sustainable and effective cosmetic ingredients, particularly for the anti-aging and skin whitening markets. By utilizing stem cell technology, Alternative Plants aims to produce valuable substances from rare and difficult-to-cultivate medicinal plants, ensuring a consistent and sustainable supply of these ingredients. Their primary clients are cosmetic manufacturers who incorporate these plant stem cell-derived active substances into their products. The company also envisions future expansion into other sectors, including functional foods, medical devices, and pharmaceuticals, leveraging their innovative technology to broaden their impact.
Naco
Venture Round in 2022
Naco Technologies Ltd is a manufacturer and supplier of advanced nano-coating technologies, specializing in high-performance coatings for various industries including tooling, automotive, aerospace, and microchip production. Founded in 2009 and headquartered in Riga, Latvia, Naco develops multilayer and multicomponent coatings that enhance equipment performance by providing oil-enhanced, wear-protective, thermal barrier, and liquid-repellent properties. The company plays a significant role in the hydrogen sector by creating specialized coatings for Green Hydrogen systems, such as electrolyzers and fuel cells, which improve the reliability of these systems while minimizing the use of costly and scarce materials. In 2015, Naco Technologies was acquired by the Schaeffler Group, a Germany-based company, further strengthening its capabilities and market reach.
Naco
Seed Round in 2022
Naco Technologies Ltd is a manufacturer and supplier of advanced nano-coating technologies, specializing in high-performance coatings for various industries including tooling, automotive, aerospace, and microchip production. Founded in 2009 and headquartered in Riga, Latvia, Naco develops multilayer and multicomponent coatings that enhance equipment performance by providing oil-enhanced, wear-protective, thermal barrier, and liquid-repellent properties. The company plays a significant role in the hydrogen sector by creating specialized coatings for Green Hydrogen systems, such as electrolyzers and fuel cells, which improve the reliability of these systems while minimizing the use of costly and scarce materials. In 2015, Naco Technologies was acquired by the Schaeffler Group, a Germany-based company, further strengthening its capabilities and market reach.
Winmill
Seed Round in 2019
Winmill is a robotics company based in Riga, Latvia, specializing in the development of advanced training equipment for ice hockey. The company creates robotic platforms equipped with stereo cameras that analyze players' positions, movements, and speeds during training sessions. These robots possess the capability to autonomously pass and shoot pucks, allowing coaches to effectively train athletes while providing detailed feedback on their performance and progress. By integrating technology into hockey training, Winmill aims to enhance the training experience for both coaches and players.
Winmill
Pre Seed Round in 2018
Winmill is a robotics company based in Riga, Latvia, specializing in the development of advanced training equipment for ice hockey. The company creates robotic platforms equipped with stereo cameras that analyze players' positions, movements, and speeds during training sessions. These robots possess the capability to autonomously pass and shoot pucks, allowing coaches to effectively train athletes while providing detailed feedback on their performance and progress. By integrating technology into hockey training, Winmill aims to enhance the training experience for both coaches and players.
Alternative Plants
Pre Seed Round in 2018
Alternative Plants, SIA is a biotech start-up based in Riga, Latvia, founded in 2017, specializing in the development of active ingredients derived from plant stem cell cultures. The company focuses on creating sustainable and effective cosmetic ingredients, particularly for the anti-aging and skin whitening markets. By utilizing stem cell technology, Alternative Plants aims to produce valuable substances from rare and difficult-to-cultivate medicinal plants, ensuring a consistent and sustainable supply of these ingredients. Their primary clients are cosmetic manufacturers who incorporate these plant stem cell-derived active substances into their products. The company also envisions future expansion into other sectors, including functional foods, medical devices, and pharmaceuticals, leveraging their innovative technology to broaden their impact.
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