Estonian running app KULG raises €100,000 in pre-seed funding
The mobile app KULG, which helps runners achieve long-term and sustainable progress with personalized training recommendations, has raised 100 thousand euros in pre-seed funding. With this investment, early investors have committed a total of 120 thousand euros to the Estonian startup in 2025. With the support of this funding, KULG will grow its engineering and AI teams, accelerate product development with new features, integrations, and mobile apps, and expand into new markets. KULG participated in the Tehnopol Startup Incubator’s accelerator programme.
The anchor investor of the funding round is a well-known, anonymous angel investor with decades of experience in technology and product scaling, combined with a passion for endurance sports. “We’ve been incredibly fortunate to bring on board an early investor who not only understands the problem we’re solving but also supports us in building the solution for runners in a highly competitive space,” said Maris Heinaru, KULG CEO and founder. Heinaru is a certified running coach, a marathon runner for 16 years, and currently holds the Estonian women’s age-group marathon record.
“Thanks to KULG app, my coach has a real-time 24/7 overview of my training. This helped me prepare much better for the recently held Tallinn Marathon and achieve a podium spot (bronze),” said runner Marek Truumaa. He added: “I’ve started monitoring the volume of my high-intensity training sessions and keeping them close to the recommended 20% of my weekly total. In KULG, this is very easy to track. As a result, I can now handle significantly higher training loads than before.”
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Originally published on 24 Sep
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During the international Industry Space Days 2026 event at the European Space Agency’s ESTEC facility in Noordwijk, the Netherlands, the Latvian Mobile Telephone (LMT) Group and the globally leading space consultancy Novaspace signed a cooperation agreement on the development of a concept for telecommunications innovation platform for Latvia to link the national connectivity sector with the international satellite industry. The initiative follows the successful ESA 5G/6G Non-Terrestrial Network Hub model and will explore Latvia’s potential role within this network.
Signing the agreement marks a pivotal step toward creating a hub for developing an internationally competitive telecommunications sector in Latvia. The hub will strategically bring LMT Group into the space industry and impact the emergence of a wider Latvia’s space innovation ecosystem in next-generation satellite technologies, products, and services tailored to commercial applications, resilient critical infrastructure, security, digitalization and green transition. Essentially, the hub will attract national and international cooperation, funding and talent.
The next generation of mobile communications is closely linked to the rapid growth of the space economy globally. The space infrastructure is already gradually enhancing terrestrial networks, and the 6G era of telecommunications will seamlessly link terrestrial and non-terrestrial networks. The rationale for such development is efficient and resilient connectivity, especially essential in scenarios involving severe weather, power outages or physical infrastructure disruptions.
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Originally published on 22 Sep
Riga. The Latvian national airline airBaltic announces that it has received EUR 140 million as the first part of its previously announced EUR 350 million debtor-in-possession (DIP) financing. The funds were made available following interim approval by the United States Bankruptcy Court for the Southern District of New York (the U.S. Court) on September 16, 2026, as part of airBaltic’s financial reorganisation under Chapter 11 of the U.S. Bankruptcy Code.
Together with cash generated from ongoing operations, the financing will support airBaltic’s day-to-day operations and financial reorganisation, as well as the implementation of the company’s new business plan.
Of the EUR 140 million received, approximately EUR 78.9 million will be used to repay existing obligations to Export Development Canada and Axiom Baltic Services. These obligations are secured by airBaltic aircraft, spare engines and a flight simulator. Following repayment, these assets will become available as collateral under the new DIP financing arrangements.
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Originally published on 21 Sep
NestAI, a European AI lab for defence, is opening an R&D centre in Latvia to build defence AI capability alongside the forces and industry operating on NATO’s Eastern Flank. The centre is the next step in NestAI’s growing Nordic and Baltic presence, following the company’s expansion to Sweden announced in August.
As NestAI builds its presence in Latvia, the company is developing the center into a team of 30 scientists and engineers, and has set an investment target of €10 million for the centre over the next few years. The announcement coincides with NestAI’s participation in the Riga Conference on 11 September 2026, where Peter Sarlin, NestAI Founder and Executive Chairman, will meet with Latvian government and academic representatives and speak on European defence AI.
“NestAI’s decision to establish an R&D centre in Latvia is a strategic investment in a sector with significant growth potential. The planned €10 million investment and 30 new jobs for scientists and engineers will bring together knowledge, technology and international cooperation in Latvia. Attracting projects of this kind demonstrates our ability to compete at European level for high-value-added investment,” says Minister of Economics Viktors Valainis.
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Originally published on 21 Sep