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Riga's startup ecosystem is a blend of long-standing industry players and emerging technology companies. The city hosts a diverse range of businesses in sectors from financial services to robotics.
This includes major players like the lending group 4finance, which has secured €734.2M in funding. It also features recent startups such as defense technology firm Origin Robotics, which has raised $8.5M.
Below is our list of 53 Riga 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 advanced unmanned aerial vehicles (UAVs) for the defense and government sectors. Their autonomous systems are designed for complex military and aerospace operations.
Handwave has built the world’s first biometric wallet, allowing users to complete retail checkouts with a simple palm scan. Their technology replaces the need for physical cards, phones, and IDs, creating a more seamless and secure payment experience.
AirBaltic operates an airline with a modern fleet composed entirely of Airbus A220-300 aircraft. They connect the Baltic region with a network of destinations across Europe, the Middle East, and beyond.
Adventum Tech develops smart fastening hardware and monitoring software for critical infrastructure in sectors like construction and energy. Their systems provide real-time data on structural health, helping to ensure the safety and integrity of buildings, bridges, and wind turbines.
Cellbox Labs builds industrialized organ-on-chip technology to accelerate scientific research. Their platform offers a powerful alternative to animal testing, enabling more accurate and ethical drug development.
Latvenergo operates as a major energy group in the Baltic states, producing and trading both electricity and thermal energy. They are a key player in the region's shift toward sustainability, with a portfolio that heavily features renewable energy sources.
Naco Technologies develops and manufactures specialized nano-coatings for a range of industrial applications. Their technology is used in sectors like hydrogen energy and metal forming to enhance the performance and longevity of materials.
Tilde builds language technology and localization solutions that help organizations communicate across linguistic divides. They offer a suite of AI-powered tools, including machine translation, virtual assistants, and speech recognition.
Mobilly offers a mobile payment application for parking, as well as train and bus tickets. Their service streamlines urban travel by consolidating various transportation payments into one digital platform.
4finance operates Europe's largest online and mobile consumer lending group, offering convenient credit to individuals across 11 countries. Their digital platform simplifies borrowing by allowing customers to apply for and manage loans entirely through online and mobile channels.
Our top ten picks offer just a glimpse of the activity buzzing across Riga. Together, the companies on this list have raised over €380 million, with many working in media, fintech, and AI.
You'll find a mix of new companies and more established names below. Here’s a look at the rest of the startups shaping Riga's startup ecosystem.
| 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 |
