Investments ranging from €175,000 to €250,000 will be made in Estonian green energy solutions developer MarkeDroid, Latvian construction startup Adventum Tech, and Lithuanian defense technology company Luna Robotics, according to the conference organizers.
The syndicated investments are provided by business angels from Estonia, Latvia, and Lithuania. Each country’s angel investor network — EstBAN, LatBAN, and LitBAN — will take the lead in supporting the further development of one startup and managing the investment, while also participating in each other’s syndicates.
Luna Robotics will receive investment led by LitBAN, with contributions up to €250,000. Adventum Tech is supported by a syndicate led by LatBAN, with angel investors contributing €250,000. MarkeDroid has secured backing from EstBAN a syndicate of angels contributing €175,000.
Emils Kragis, Managing Director at LatBAN, commented:
“We’ll lead the syndicate for AdventumTech, because they shown great grit and consistency. They have developed the product for four years and the founding team has all the necessary qualities to excel in the space.”
Latitude59, which took place for the 13th time in Tallinn, Estonia, was visited by more than 3,500 people, including more than 900 startup representatives and 20 national delegations.
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