The Labs of Latvia business and investment portal has published a list of ten Latvian startup companies with particular potential and appeal to investors.

The Latvian startup scene is rapidly growing, especially in deeptech, defence, and AI. Startup funding surged by 623% year-on-year, jumping from €9.7M in H1 2024 to €70.1M in H1 2025.

Among the standouts are cutting-edge solutions like Trace.Space and Handwave, as well as SUBMerge Baltic, the winner of TechChill’s 2024 Fifty Founders Battle.

Trace.Space – AI-first system of creation for complex hardware specifications that cuts the cost of R&D in half. It delivers a simple UI with robust traceability, time-based & custom versioning, item level attributes, and flexibility to adapt to workflows. (Deeptech)
Handwave – A biometric payments company that enables people to pay, verify their age, and collect loyalty rewards with a simple palm scan, delivering faster, safer, and more convenient checkout experiences for both customers and merchants. (Fintech)
Origin Robotics – A defence technology company specialising in cost-efficient unmanned aerial systems and robotics, developing advanced drone solutions to strengthen security and defence capabilities for Europe and NATO allies. (Defencetech)
Supliful – On-demand white-labeling platform for supplements and CPG brands. (Marketplace)
Swotzy – Provides a simplified shipping tool to help eCommerce merchants optimise their last-mile operations by always using the best-fit carrier and saving operational costs. (Logistics)
RivalSense – An AI-powered competitive intelligence platform that monitors companies across cyber, AI, hardware, biotech, enterprise software, and other technical industries, curating insights from 80+ public sources. (AI)
SUBMerge Baltic – Working on dual-use autonomous underwater drones (AUVs) for water safety and security. (Defencetech)
Convershake – Provides an AI-powered unified knowledge platform for contact centers. (SaaS)
TheoGrowth – A plug-and-play platform that transforms scattered business knowledge into an AI-friendly format, designed specifically for SMB marketers and marketing consultants, enabling them to make any AI assistant understand their unique business. (AI)
Viangoo – A tech company making the cargo delivery process to business construction sites more convenient and transparent. (Logistics)

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