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Latvia's startup scene is a mix of new technology companies and long-standing industrial firms. The country shows strength in areas like manufacturing, mobility, and financial technology.
For example, the fintech company 4finance has raised over €734.2M in funding. Meanwhile, newer companies like Origin Robotics are entering fields like defense technology with $8.5M in backing.
Below is our list of 53 Latvia startups worth keeping an eye on.
Everything you need to raise funding for your startup, including 3,500+ investors, 7 tools, 18 templates and 3 learning resources.
Buy It For $97 $297 →Information about the industries, countries, and cities they generally invest in.
Get the Sheet for $50Information about their valuation, HQ's location, founded year, name of founders, funding amount and number of employees.
Get the Sheet for $50List of startup investors in the BioTech, Health, and Medicine industries, along with their Twitter, LinkedIn, and email addresses.
Get the Sheet for $50List of 250 startup investors in the AI and Machine Learning industries, along with their Twitter, LinkedIn, and email addresses.
Get the Sheet for $50List of 250 startup investors in the FinTech and Finance industries, along with their Twitter, LinkedIn, and email addresses.
Get the Sheet for $50Origin Robotics builds autonomous systems for defense and government use, specializing in unmanned aerial vehicles (UAVs). Their technology is engineered to operate effectively in challenging aerospace and military scenarios.
Handwave developed a biometric wallet that lets shoppers pay for items with a simple scan of their palm. Their technology is designed to replace physical cards, phones, and IDs, creating a more seamless retail checkout experience.
Latvia's flag carrier airline, airBaltic, connects the Baltic region with a network of destinations across Europe and the Middle East. The airline operates one of the youngest and most environmentally friendly fleets in Europe, consisting entirely of Airbus A220-300 aircraft.
Adventum Tech builds smart fastening solutions that combine hardware and software for the construction, manufacturing, and energy sectors. Their technology embeds sensors into industrial bolts, allowing teams to monitor structural integrity and prevent failures before they happen.
Cellbox Labs develops a high-throughput organ-on-chip platform used by pharmaceutical companies to accelerate preclinical drug development. Their technology provides more accurate drug safety and efficacy data by testing on miniaturized human organs, helping to reduce the reliance on animal testing.
Latvenergo generates and trades electrical and thermal energy, operating as one of the largest power suppliers in the Baltic States. The group's generation is heavily focused on renewable resources, with a significant portion of its energy produced from hydropower.
Naco Technologies develops and manufactures specialized nano-coating technologies for customers worldwide. Their solutions are designed to improve the performance and durability of materials across various industrial applications.
Tilde builds AI-driven language technologies that help organizations operate across different languages. Their suite of tools provides machine translation, virtual assistants, and speech recognition, with a strong focus on European languages.
Mobilly offers a mobile payment service for parking, train, and bus tickets. Their application streamlines urban travel by consolidating various mobility payments into a single digital tool.
4finance operates Europe’s largest online and mobile consumer lending group, offering convenient credit access across 11 countries. Their technology-driven platform simplifies the lending process, making it easy for consumers to apply for and receive funds quickly.
Our top picks give a taste of the energy in Latvia, but there's a lot more happening just beneath the surface. Founders are building companies in fields like media, AI, and environmental tech, and they've attracted more than €380 million in funding to grow their ideas.
You'll find a mix of newcomers just getting started and more established companies that have been growing for years. Here’s a look at the other companies helping to define the country's startup scene.
| Startup | Industry | Year Founded | Amount Raised | Last Funding Round |
|---|---|---|---|---|
| Media | 2012 | €11.9M | Venture Round | |
| Fintech | 2019 | €4.9M | Seed | |
| Environment | 2022 | €210k | Pre-Seed | |
| Environment | 2018 | €650k | — | |
| Energy | — | €472.8k | Pre-Seed | |
| AgTech | 2017 | €550k | Seed | |
| Fashion | 2018 | €3M | Seed | |
| Media | 2004 | €50M | Debt Financing | |
| Fashion | 2021 | €350k | Pre-Seed | |
| Environment | 2020 | €15.2M | Seed | |
| AI | 2024 | — | — | |
| Crypto | 2017 | €1.3M | Grant | |
| Food | 2011 | €225M | Private Equity | |
| Fintech | 2002 | €2.5M | Debt Financing | |
| Logistics | — | €650k | Debt Financing | |
| Design | 2017 | €2.4M | Convertible Note | |
| Marketing | 2020 | €3M | Seed | |
| Fintech | 2006 | €3.1M | Debt Financing | |
| Mobility | 2018 | €2.7M | Seed | |
| Manufacturing | 2018 | €1.9M | Grant | |
| Fintech | 2019 | €250k | Pre-Seed | |
| Logistics | 2022 | €890k | Pre-Seed | |
| Hardware | 2016 | €7k | Pre-Seed | |
| Media | 2018 | €3.9M | Seed | |
| AgTech | 2017 | €1.1M | Seed | |
| AI | 2021 | €586.7k | Seed | |
| Healthcare | 2020 | €320k | Pre-Seed | |
| Manufacturing | 2009 | €9.6M | Debt Financing | |
| Crypto | 2016 | €1.3M | Seed | |
| Infrastructure | 2014 | €10M | Venture Round | |
| Media | 2018 | €563.7k | Pre-Seed | |
| Enterprise | 2021 | €5M | Grant | |
| Environment | 2018 | €880k | Seed | |
| Mobility | 2022 | €2.8M | Seed | |
| Energy | 2018 | €2M | Series A | |
| Retail | 2021 | €1.5M | Pre-Seed | |
| Media | 2017 | €885k | Pre-Seed | |
| Fashion | 2000 | €12M | Debt Financing | |
| AI | 2022 | €1.1M | Seed | |
| AgTech | 2020 | €765k | Seed | |
| Media | 2016 | €500k | Grant | |
| AI | 2022 | €600k | Seed | |
| Infrastructure | 2019 | €1.5M | Seed |
