New industrial development area and railway infrastructure available for investment in Valmiera – Valmiera Industrial Park is completed
Construction has been completed at Valmiera Industrial Park, which is an infrastructure of national importance – a railway siding and internal railway, a cargo loading/unloading (logistics) site, and an industrial electricity connection have been put into operation. The rest of the infrastructure intended for exporting manufacturing companies operating in smart specialization (RIS3) sectors, creating products with high added value, has also been completed. The newly built railway infrastructure will strengthen the role of Valmiera region in the European transport network, consolidating its position as an important connection point between regions and the Baltic States.
Valmiera Industrial Park, operating as Latvia’s first domestic multimodal logistics center, will promote economic growth and export capacity in Vidzeme. This will be a significant stage of development and change in the transport and storage sector, as companies in Vidzeme and South Estonia will be able to optimize their supply chains while reducing transport costs and emissions, as well as the load on roads. The potential of the new and competitive railway infrastructure and the extensive concrete logistics area has also been dubbed Latvia’s first “dry port” (i.e., inland intermodal terminals directly connected to seaports by road or rail).
“Targeted investment in business development is always necessary to promote growth and maintain competitiveness. The development of the Valmiera Industrial Park has been purposefully planned since 2014, implementing this idea gradually and thoughtfully to ensure maximum return on invested resources in the long term. It is planned that at least three export-oriented companies will start operating in the area to be developed under the project, creating new jobs and making significant investments in business. These are historically the largest investments in the development of the Valmiera region, which will make a significant contribution to both the region’s economy and the well-being of its residents. At the same time, in parallel with the development of business infrastructure in the municipality, we continue to invest in affordable housing and competitive education to ensure a timely supply of qualified specialists to the labor market,” says Jānis Baiks, Chairman of the Valmiera Municipality Council.
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Originally published on 17 Dec
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Telematics and Connected Mobility Conference in Vilnius: A Signal Moment for the Industry Took Place
Gurtam, a global leader in fleet management software headquartered in Lithuania, hosted the Telematics and Connected Mobility conference on 10–11 September at LITEXPO, the largest event venue in the Baltics. The conference brought together fleet operators, telematics service providers, connectivity experts, and technology innovators from around the world, creating a concentrated space for dialogue and discovery on the future of vehicle operations.
Telematics and Connected Mobility combined two full days of sessions across two tracks, including a tech expo with 18 companies showcasing their latest solutions and innovations. This format allowed fleet managers to exchange directly with developers, hardware providers, and peers, blending strategic insight with practical, hands-on demonstrations.
With more than 500 attendees spanning from Australia to Latin America, event speakers included senior engineers from global IoT providers, professionals from Porsche Consulting, Bamboo Group, and Amazon, as well as top Lithuanian-headquartered but globally operating companies such as Teltonika, Ruptela, Gurtam, and Girteka. Their presence underscored Lithuania’s growing role as a hub for innovation in fleet digitalization.
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Originally published on 12 Sep
DRUID AI has secured $31 million in a Series C funding round, led by Cipio Partners, with participation from TQ Ventures, Karma Ventures, Smedvig, and Hoxton Ventures. The funding will advance DRUID AI’s mission to empower companies to create, manage, and orchestrate conversational AI agents, and will be used to accelerate the global expansion of its enterprise-ready agentic AI platform under the leadership of its new CEO, Joseph Kim.
“This investment is both a testament to DRUID AI’s success and a catalyst to elevate businesses globally through the power of agentic AI,” said Kim. “Customer success is what it’s all about, and delivering real business outcomes requires understanding companies’ pain points and introducing innovations that help those customers address their complex challenges. That’s the DRUID AI way, and now we’re bringing it to the world through this new phase of global growth.”
In 2024, DRUID AI grew ARR 2.7x year-over-year. Its award-winning platform has powered more than 1 billion conversations across thousands of agents. In addition, the DRUID AI global partner ecosystem has attracted industry giants Microsoft, Genpact, Cognizant, and Accenture.
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Originally published on 16 Sep
At the beginning of September, Riga hosted the European Hydrogen Valleys Investment Forum (EHVIF TechTour 2025), reaffirming hydrogen as one of the central themes for Europe’s future energy landscape. The event gathered more than 220 participants – including start-ups, investors, corporate representatives, experts, and policymakers.
In total, 40 start-ups and hydrogen valley projects presented their innovative ideas, while more than 40 investors and industry leaders shared their perspectives on developing and financing clean energy solutions. The event concluded with eight companies being recognized by the expert jury as Top Presenters.
Special attention in the programme was devoted to discussions on hydrogen production, storage, distribution, and use in mobility and industry, as well as on governance and cooperation models. One of the key highlights was the pitching session, where the H2Value project was presented – the first cross-border initiative to build a green hydrogen value chain between Latvia and Estonia. The project’s goal is to gradually establish the entire chain, from production and storage to distribution and real-life application in transport.
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Originally published on 15 Sep
From green hydrogen to electrification: “Blue Supply Chains” roadmaps highlighted at BPO conferences
The recently developed two roadmaps in the Baltic Sea region outline concrete steps towards climate-neutral port operations and sustainable maritime transport. They provide actionable pathways for ports, municipalities, and industry stakeholders to accelerate the transition to renewable fuels, electrification, and other low-emission solutions. Both projects will be briefly presented at two upcoming conferences organised by the Baltic Ports Organization.
These strategic documents, created within the framework of the EU-funded Interreg Baltic Sea Region project “Blue Supply Chains”, serve as practical guidance on how to plan, implement, and scale green energy and zero-emission solutions in and around ports. They cover the entire value chain – from production sites, storage, and bunkering facilities to infrastructure requirements, policy frameworks, and stakeholder involvement, including both alternative fuel production and the electrification of inland waterway transport. The Baltic Ports Organization is one of the BSC project partners.
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Originally published on 9 Sep
The Tallinn Urban Planning Department has initiated the detailed planning process for the properties at Paljassaare tee 5 and 7 and the surrounding area in Põhja-Tallinn, creating the conditions for the comprehensive implementation of the film stuudio complex Tallinn Film Wonderland.
Deputy Mayor for Urban Planning Madle Lippus noted that this is an important decision for the future of the Paljassaare district. “Although this man-made peninsula is currently still largely an industrial landscape, the initiated planning provides an opportunity to bring new development potential to Tallinn through the construction of the film studio complex and the supporting infrastructure,” she said.
The planning area covers approximately 7 hectares. The goal is to create a new identity and development potential for the district, including the construction of a world-class film studio.
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Originally published on 11 Sep
At the beginning of September, Riga hosted the European Hydrogen Valleys Investment Forum (EHVIF TechTour 2025), reaffirming hydrogen as one of the central themes for Europe’s future energy landscape. The event gathered more than 220 participants – including start-ups, investors, corporate representatives, experts, and policymakers.
In total, 40 start-ups and hydrogen valley projects presented their innovative ideas, while more than 40 investors and industry leaders shared their perspectives on developing and financing clean energy solutions. The event concluded with eight companies being recognized by the expert jury as Top Presenters.
Special attention in the programme was devoted to discussions on hydrogen production, storage, distribution, and use in mobility and industry, as well as on governance and cooperation models. One of the key highlights was the pitching session, where the H2Value project was presented – the first cross-border initiative to build a green hydrogen value chain between Latvia and Estonia. The project’s goal is to gradually establish the entire chain, from production and storage to distribution and real-life application in transport.
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Originally published on 12 Sep
Teton.ai, a Danish predictive intelligence company that uses proprietary AI and computer vision technology to provide predictive care for older people, has raised $20 million in a funding round led by Plural. Other participants in the round include Bertelsmann Investments, Antler Elevate, and Nebular, with follow-on investment from PSV Tech. The funding round will be used to launch nationwide in the United States, deepen its operations across Europe, and continue to push the boundaries of predictive AI in care.
“Teton is at the cutting edge of a much-needed transformation in healthcare,” said Taavet Hinrikus, Partner at Plural. “Within a short time, its technology is already reducing costs and resource needs while achieving the most important thing – improved health outcomes. It’s a complete game-changer for owners, operators, caregivers, families, and residents. The strength of Teton’s team and technology means it’s set to become the market leader as it solves a huge global problem.”
According to the company, healthcare, particularly senior care, faces systemic and urgent challenges. Populations are aging, and comorbidities are increasing. Care staff are over-burdened and exiting the industry at higher rates than ever. Costs are already steep and rising. Teton looks to bridge the gap between care needs and care capacity, enabling wider access to premium care for ordinary families and their loved ones.
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Originally published on 9 Sep
Startup Fair 2025 Invites You to the Pitch Battle: €3 Million in Investment Awaits the Best Startups
Lithuania’s largest startup event – Startup Fair 2025 – is soon returning to Vilnius. On October 9, the event will culminate in the Pitch Battle at LITEXPO, where innovative startup ideas will compete for the attention of experienced investors. It’s a unique opportunity for startups to showcase their businesses to an international audience, attract investment, and build valuable connections.
Success stories from last year prove just how important this event is. For the winners – including startups Psylink and BrachyDOSE – the Pitch Battle became a launchpad for their next growth stage.
“Lithuania’s startup ecosystem is now stronger than ever – with over a thousand innovative businesses operating globally, attracting both investment and talent, and 67% already active abroad. However, growing without the right support is difficult – nearly a third of startups cite lack of financial resources as their main challenge. That’s why it’s crucial to take advantage of funding opportunities and events like Pitch Battle, which help attract investor attention and secure the necessary resources for growth,” says Karolina Urbonaitė, Head of Startup Lithuania.
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Originally published on 9 Sep
The OYSTER health and life science business incubator, launched at the beginning of 2024, has been an interesting and educational journey both for the teams developing business ideas and for our project team. From the very start, our goal was to build both a pre-incubator and a full business incubator – to provide sparring for the development of early-stage ideas as well as long-term support for the growth of start-ups.
The first months were spent designing operational models, exploring the latest research on business incubation, and building cooperation with experienced incubators in the field. We also brought in external consultancy, while our project team already had strong experience in entrepreneurship and business incubation.
In autumn 2024, we organized the first 100-day pre-incubator program, with 13 teams participating. Five of them continued into the full OYSTER incubator program, which started at the beginning of 2025. Altogether, 10 teams began in the main business incubator program, which is still ongoing.
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Originally published on 11 Sep
SpringWater Launches as Entrepreneur-Led SaaS Acquirer, Announces First Acquisition of FirstPromoter
SpingWater, an entrepreneur-led investment firm focused on acquiring and scaling founder-led SaaS businesses, announced its official launch today. The firm is backed by bootstrapped entrepreneurs who have built global category leaders like Hostinger, WebPros, Contabo, as well as NordVPN, Oxylabs, nexos.ai (the Tesonet group).
SpringWater targets product-led SaaS businesses with €1–10M ARR that have the potential to become global category leaders. The firm invests long-term capital without forced exits, focusing instead on partnering with founders to preserve their legacy while unlocking new growth levers.
SpringWater was initiated by Arnas Stuopelis, Co-founder and Chairman of the Board at Hostinger, which is known for scaling from zero to more than €180M in revenue in 2024, serving 3.5+ million customers in 150+ countries, with sustained 60%+ annual growth, without raising any external capital.
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Originally published on 4 Sep