TALLINN, Estonia (CHATNEWSTV) – Winners of the Latitude59 Pitch Competition have raised more than €20 million in investments over the past three years, this was revealed in a press statement released Tuesday by the organizers of Estonia’s leading startup and tech conference.
The competition, known for launching high-potential startups in the Baltics and New Nordics, has helped elevate early-stage companies by offering visibility, investor access, and a platform for global scale.
“Latitude59 not only connects but also empowers local initiatives to scale globally,” said Liisi Org, CEO of Latitude59. “I’m incredibly proud of our winners. Watching them grow into global players is one of the most rewarding parts of what we do.”
David Clark, platform partner at Tera Ventures, praised the quality of the founders competing.
“Every year, Latitude59 gathers a line-up of founders who would stand out on any stage,” Clark said. “The depth of expertise, execution, and sheer ambition convinced us to invest in two of the final teams.”
Among the notable alumni is ÄIO, a DeepTech startup that has raised €5.6 million since its 2023 win to develop sustainable alternatives to animal and palm oils.
“The visibility we gained, especially among investors, not only propelled us onto the global stage — including events like SWITCH in Singapore — but also gave us the confidence and credibility to dream even bigger,” said founder Nemailla Bonturi.
Even finalists who didn’t take home the top prize reported major breakthroughs. Kaido Saar, CEO of Mifundo, said the exposure helped the startup raise €1 million six months later, a figure that scaled to €10 million within a year.
“Though we didn’t win the €1 million prize, we secured that amount from the same investor shortly after,” Saar said.
Other success stories include GaltTec, a Tartu-based energy startup, which closed a €1 million pre-seed round after its 2024 win; Vocal Image, which raised €660,000 and later won TechChill; and Flowstep, a UX co-pilot app that emerged from the 2023 competition to attract sustained investor interest.
“Winning at Latitude59 transformed a single pitch into years of funding and publicity,” said Flowstep co-founder and CEO Matt Clannachan. “It gave us the credibility to attract top-tier talent committed to building Estonia’s next decacorn.”
Cino, a fintech startup founded by e-residents in Tallinn, raised €3.5 million in seed funding after its Latitude59 appearance.
“We still meet people around the world who remember our pitch,” said founder Elena Churilova. “Pitching on such a big stage, with such a supportive audience, was a powerful experience — it still feels unreal.”
The competition has grown increasingly international. For the 2025 edition, 391 startups from 47 countries applied. A jury selected the top 30 to pitch in the pre-finals, with five advancing to the finals, scheduled for May 23.
This year marks the first time investors from across Estonia, Latvia, and Lithuania are collaborating to select and fund the top startups.
Latitude59 2025 will be held May 21–23 in Tallinn, positioning itself once again as the leading startup and technology event in the Baltic States and New Nordics.
Editor: Gabriel Ani
