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Although the amount of investment has increased significantly compared to the first half of last year, when a total of 32 million euros were raised at the same time, the number of startups that received it has decreased by 12 percent, according to data monitored by the Lithuanian startup association Unicorns Lithuania.
TOP 10 largest Lithuanian startups by investments attracted in the first half of 2025:
In addition, Sort a Brick, a startup that sorts used Lego bricks, also attracted a €1,5 million investment. Two more companies received €1 million in external funding each: Vugene, which develops solutions to accelerate biological research, and WeSky, which develops innovative systems for airlines.
Investment amounts are not everything
"This half-year stands out for the size of the deals - the vast majority of them exceeded one million euros, and the overall average was significantly increased by the investment attracted by Cast AI alone. It is important to note that many startups that received funding plan to expand into new markets or strengthen their positions in existing ones. This shows that investors are looking not only for innovative ideas, but also for business models with clear international growth potential," says Gintarė Verbickaitė, head of Unicorns Lithuania.
According to her, we are now at a point where Lithuania can become a leading technology country in Europe within this decade, but this requires that the sector is constantly filled with newly established startups.
“The growing interest of foreign investors and transaction amounts confirm our potential. However, the decreasing number of startups attracting financing is worrying – there is free capital, but not enough for new companies to take it. From this perspective, it is important to assess not only the size of investments, but also the stage of the company’s activity at which it attracted investment. As an association, we constantly assess the state of the sector and see that in order to increase the number of startups in the country, it is critically important to help them in the earliest and riskiest stages. Such, pre seed "In the first half of the year, we only had two investments: in Strato Create and Commody," says G. Verbickaitė.
According to her, as is typical pre seed For the financial stage, in addition to early-stage venture capital funds, business angels also invested in both of the aforementioned companies.
"These are private investors who provide capital in the initial stages of company growth, mentor and help establish relationships with potential clients or foreign partners. When they, together with early-stage venture capital funds, grow a startup, it can later attract not only local capital, but also investments from larger foreign funds. The grown companies continue the cycle - they themselves begin to grow the starting startups, as, for example, in the case of Tesonet, which invested in FPRO," says the head of the association.
G. Verbickaitė also emphasizes that the investments attracted are only one of the signs indicating the strength and potential of the technology ecosystem.
"Many startups in Lithuania operate without any external investment even at an early stage - they find a way to become profitable and grow from their own income. This is exactly how Omnisend, Nord Security, Hostinger and other well-known technology companies grew without significant external capital. Such startups are creating the country's economic miracle - they not only expand on their own, but also improve their results even against the backdrop of various global unrest," notes G. Verbickaitė.
However, she emphasizes that this situation will not last long, as for a breakthrough, the ecosystem needs an external push and systemic changes.
"Competition for startup founders, technology companies, and the best employees in the world is only intensifying. Countries are fighting using various means: offering tax breaks to startups, foreign talent, and business angels. They are also creating attractive regulations, encouraging investments, and changing and adapting educational programs to future business needs. All of this has a significant impact on improving the investment indicators of the entire ecosystem," says the head of Unicorns Lithuania.
Forecasts for the second half of the year: where is investor attention focused?
The need for the creation of new startups is also emphasized by Arvydas Bložė, a partner at the venture capital company Practica Capital.
"Lithuania is one of the most attractive ecosystems in Europe, but this is, at best, only halfway. We must strive to ensure that children start wanting to work and create in the technology sector while still in school. Although not everyone can be a founder of a startup, it can be born in everyone. We must help those who have this potential to reveal themselves, but do not know it themselves yet. Especially when thinking about AI technologies - they are best managed by the new generation, so this time is dedicated to the youth of Lithuania, and the environment has a responsibility to help them," says A. Bložė.
