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Sunday, May 29, 2022

Record investment year in Lithuania

The Baltic startup ecosystem has been showing constant signs of growth, highlighted by Lithuania’s record-breaking year. Lithuanian startups have already attracted more than EUR 420 million in investments, and the summarised half-year sales results are almost three times higher than in the corresponding period last year. 

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“This year is undoubtedly an exceptional year for the entire Lithuanian startup ecosystem. It seems that we barely have time to record startup investment deals – we have more than 50 of them at the moment, and in total, startups have managed to attract more than EUR 420 million of investments this year. This is an absolute record compared to the previous year, when 2019, which was previously considered a record year, attracted around EUR 170 million. It is important to note that only publicly disclosed deals are counted, some of them are not disclosed due to confidentiality agreements and are therefore not included in the statistics. Another encouraging achievement of the ecosystem is the exit of startup companies. While in previous years there were only one or two exits a year, this year the number of exits is also record-breaking – Paysolut, Marguard, Deeper, Dokobit, and Aggredium Finance have all made the so-called “exits”, and the year is not yet over,” says Roberta Rudokienė, Head of Startup Lithuania, the startup ecosystem development unit of public institution Enterprise Lithuania.

Head of Startup Lithuania says that this year’s startup performance has also seen record growth in sales, exports, and headcount: in the first half of this year, Lithuania’s startup sales and exports were almost 3 times higher than last year, while headcount grew by 15% and now reaches 12,400 talents.

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