Estonia secures strong position in NATO DIANA defence innovation programme
Today, as part of the second year of the NATO DIANA innovation accelerator, the companies selected for the programme’s next phase were announced. A total of 2613 companies applied to join the second cohort of NATO DIANA, of which 73 were chosen for the first phase – including two Estonian startups. Each team selected for phase two will receive up to €300 000 from NATO DIANA, in addition to the €100 000 grant funding awarded in the first phase.
Seven companies took part in the programme at the NATO DIANA Estonian accelerator, including two Estonian firms – Wayren and Telearmy. Now, as only 15 companies from across the alliance move forward to the second phase, three of them are teams accelerated their growth in Estonia’s accelerator, including both Estonian startups. Alongside the United States, Canada and the United Kingdom, Estonia is one of the only countries represented by two or more firms, giving Estonia one of the strongest showings among NATO nations in the second phase.
“I am very pleased to see Estonia’s contribution to NATO DIANA stand out so strongly. The fact that three teams accelerated here – including two of our own defence industry companies – have advanced to the next stage shows how quickly Estonian entrepreneurs can adapt, act and seize opportunities. The same applies to our Defence Forces, who have been on board with testing new solutions. I dare say that Digital Nation 2.0 will gain momentum thanks to the successes of our defence industry,” said Hanno Pevkur, Minister of Defence.
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Originally published on 4 Sep
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The author of the most promising idea in the business idea competition at this year’s Icebreakers’26 business opportunity festival will receive €10,000 to support the development of their entrepreneurial venture.
Icebreakers’26 will take place at the University of Latvia’s (UL) House of Science in Torņakalns on March 5. The festival’s central theme is “Change the Rules of the Game,” accentuating the audacity to think and act differently in order to create innovations and develop entrepreneurial skills. It is a theme that encourages participants to challenge conventions, step out of their comfort zones, and seek new solutions that drive change in business, research, and society. It encourages the use of knowledge, creativity, and collaboration as a foundation for sustainable development—and participants to not merely follow trends, but actually change the rules of the game.
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Originally published on 4 Feb
Lithuanian capital markets infrastructure provider Axiology has secured €5 million in seed funding to expand its regulated, blockchain-based platform for issuing, trading, and settling securities across Europe. The investment will support the rollout of new tokenised securities capabilities under the EU DLT Pilot Regime and accelerate the company’s go-to-market strategy.
The funding round was led by Exponential Science, e2vc, and Coinvest Capital, with participation from TIBAS Ventures and Plug and Play. Existing investors, including BSV Ventures, NGL Ventures, and others, also joined the round. To date, Axiology has raised €7 million in total.
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Originally published on 4 Feb
At a media event hosted today by the Investment and Development Agency of Latvia, it was announced that the Slovenia‑based energy company NGEN Group is entering the Latvian market with a €50 million investment.
According to information provided by investors, a deal has been concluded whereby NGEN Group has become the 100% owner of SIA “Liepāja ESS” to implement a stand-alone grid-connected battery energy storage project with a capacity of 100 MW and a storage capacity of 200 MWh in Grobiņa parish, Dienvidkurzeme region, at the Grobiņa substation. Construction work is planned to be completed this year.
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Originally published on 3 Feb
To secure the status of Europe’s frontier DefenceTech destination, Estonia is moving fast, and is now building a pipeline for defence startups to win major international funding. Estonia’s Ministry of Defence, in collaboration with the Ministry of Economic Affairs and Communications, has established a pre-accelerator programme called the Defence Business Lab, according to the official press release.
Designed to help local companies compete more effectively in major international defence funding competitions, the programme aims to prepare early-stage development teams for successful applications to NATO DIANA (Defence Innovation Accelerator for the North Atlantic) and the European Defence Fund (EDF), two significant sources of defence funding.
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Originally published on 2 Feb
Innovation in Finland defines the way business operates. The country fosters ecosystems where global players connect, and technology leadership spans AI, connectivity, electrification, and defense. For international investors and partners, Finland offers advanced solutions and a collaborative model that accelerates impact.
“We are living in an AI supercycle,” notes Nokia’s Veli-Pekka Luoma, emphasizing Finland’s shift from connecting people to connecting intelligence. This vision is backed by robust infrastructure, cutting-edge R&D, and a commitment to sustainability.
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Originally published on 2 Feb
Enersense has signed an agreement with Lithuania’s VŠĮ Plačiajuostis Internetas, the state-owned organisation responsible for developing Lithuania’s broadband infrastructure, for the design and construction of telecommunications towers. The towers form part of Lithuania’s nationwide programme to expand high-speed broadband infrastructure.
The towers are steel lattice communication structures that form part of Lithuania’s essential digital infrastructure.
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Originally published on 29 Jan
Cast AI, the leading Application Performance Automation platform valued at over $1 billion, today announced it has won the European AI Award 2025 in the AI Business category. The award, presented by the European AI Forum (AIEF), recognizes outstanding achievements in AI that are shaping business, science, policy, investment, and ecosystem development across Europe.
Cast AI was honored for its platform that automates AI application performance in Kubernetes environments, delivering significant cost optimization and operational efficiency. The company was one of only three winners selected in the AI Business category, chosen from nominees across the continent for their contributions to economic growth, industrial competitiveness, and societal benefits through AI.
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Originally published on 2 Feb
We are proud to announce that the Latvian Association of Artificial Intelligence (MILA) has officially joined the Apply AI Alliance Stakeholders’ Catalogue.
This catalogue serves as the European Commission’s “official phonebook” of trusted organizations. It is the primary resource used by the Commission to identify stakeholders for shaping AI policy, participating in sectoral workshops, and attending annual AI Office gatherings.
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Originally published on 2 Feb
Today, 29 January, the Secretary General of the Estonian Ministry of Foreign Affairs, Jonatan Vseviov, the State Secretary of the German Federal Foreign Office, Bernhard Kotsch and the Vice-Minister of Foreign Affairs of Lithuania, Vidmantas Verbickas, signed a four-party cooperation memorandum in Tallinn aimed at strengthening ties between the countries in the fields of strategic communication and media literacy. The agreement was signed ahead of the meeting also by the Latvian State Secretary Andžejs Vilumsons, with Latvia represented at the meeting by the Inspector General of the Latvian Ministry of Foreign Affairs, Ilgvars Kļava. The agreement is an updated version of the cooperation memorandum first concluded between the foreign ministries of the four countries in 2015.
Secretary General Vseviov emphasised that in the context of growing foreign influence activities, disinformation and hostile propaganda, it is crucial to strengthen societal resilience. He noted that closer cooperation between like-minded countries is key to protecting and developing the democratic information space.
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Originally published on 29 Jan
The agreement between Södra and the Ingka Group’s investment company, Ingka Investments, regarding Södra’s forest holdings in the Baltics has now been approved and finalised.
With the aim of doing what is best for the forest estate and for Södra’s long-term competitiveness, Södra decided in early 2025 to divest all its forest holdings in Latvia and Estonia. Since the agreement with the buyer in October 2025, a competition review and approvals from local authorities have been underway – a process that has now been concluded. The transaction, with a purchase price of 720 million euros, is therefore complete.
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Originally published on 30 Jan