Luna Robotics will receive investment led by LitBAN, with contributions up to €250,000. Adventum Tech is supported by a syndicate led by LatBAN, with angel investors contributing €250,000. MarkeDroid has secured backing from EstBAN a syndicate of angels contributing €175,000.
Liisi Org, the CEO of Latitude59, emphasized that the contribution of business angels from all three Baltic countries underscores the importance of cross-border collaboration in the region’s startup ecosystem. “The cooperation between the business angel networks of Estonia, Latvia, and Lithuania reflects our shared commitment to fostering innovation across the region and clearly shows the strength of working together,” Org said. “I’m truly pleased for this year’s winners — Latitude59 has proven itself over the years as an important launchpad for startups, and I’m confident that the next global success stories from the Baltics will start right here,” she added.
EstBAN, LatBAN, and LitBAN will support the competition winners not only through investment but also by working closely with the founders to help drive the startups’ continued growth. The leaders of all three business angel networks agreed that this year’s collaboration sets an important precedent and lays the groundwork for future joint investments in the region — with the shared goal of strengthening the Baltic startup ecosystem’s presence on the global stage.
Karin Künnapas, Managing Director at EstBAN said that making the decision was not easy, as there had been no prior experience in organizing a joint syndicate between the three countries. “It was a valuable learning experience and hopefully we’ll see more such investments in the future. Estonia, Latvia, and Lithuania all have a strong interest in each other’s startups, and we need to share more about our deals and fundraising efforts. Regarding the investment in MarkeDroid it’s encouraging to see investors eager to support green technologies. There is a lot of untapped potential, and we hope that our push will help take MarkeDroid to the next level,” Künnapas said.
Emils Kragis, Managing Director at LatBAN, commented that this year’s pitch competition is a powerful testament to the potential of the Baltic region and hopefully paves the way for future investment collaborations. “We’ll lead the syndicate for AdventumTech, because they shown great grit and consistency. They have developed the product for four years and the founding team has all the necessary qualities to excel in the space,” Kragis explained.
Roberta Rudokienė, Managing Director at LitBAN: “We’re proud to see Luna Robotics among the winners and thrilled that all three Baltic angel networks joined forces this year — it’s a powerful step in helping our startups grow and compete globally. We warmly congratulate Adventum Tech and MarkeDroid as well — the whole region wins when we lift each other up. We hope angels from all three BANs will join these investments and continue building cross-border success stories together.”
Latitude59, which took place for the 13th time in Tallinn, Estonia, was visited by more than 3,500 people, including more than 900 startup representatives and 20 national delegations. Nearly 700 investors participated this year. 170 speakers could be seen on Latitude59’s stages. In total, there were participants from more than 70 different countries worldwide.
