Top 20 Startups in Lithuania: Pioneers of Innovation
Top 20 Startups in Lithuania: Pioneers of Innovation
Lithuania, a country known for its vibrant tech scene and supportive startup ecosystem, is home to a plethora of innovative startups making waves both locally and internationally. From fintech and healthtech to AI and green tech, Lithuanian startups are at the forefront of technology and business innovation. In this post, we’ll spotlight the top 20 startups in Lithuania, detailing their industry, founders, year of foundation, and valuation. Let’s dive into the dynamic world of Lithuanian entrepreneurship!
1. Vinted
Industry: E-commerce, Fashion
Founders: Milda Mitkute, Justas Janauskas
Year of Foundation: 2008
Valuation: $1.3 billion
Vinted, founded by Milda Mitkute and Justas Janauskas in 2008, is a leading online marketplace for pre-owned fashion. The platform allows users to buy, sell, and swap second-hand clothes, making it a significant player in the sustainable fashion industry.
2. Paysera
Industry: Fintech, Digital Payments
Founders: Vyacheslav Dunev, Dainius Šulinskas
Year of Foundation: 2004
Valuation: $120 million
Paysera, established by Vyacheslav Dunev and Dainius Šulinskas in 2004, offers a comprehensive suite of digital payment solutions, including online banking and international money transfers. The company is known for its cost-effective and efficient financial services.
3. Tesonet
Industry: Cybersecurity, Technology
Founders: Marius Misiukonis, Tomas Šimkus
Year of Foundation: 2008
Valuation: $500 million
Tesonet, co-founded by Marius Misiukonis and Tomas Šimkus in 2008, specializes in cybersecurity and privacy protection solutions. Their services include VPNs, secure browsing, and other tools designed to protect users’ online activities.
4. Bored Panda
Industry: Media, Entertainment
Founders: Tautvydas Rukšėnas, Tomas Lavas
Year of Foundation: 2009
Valuation: $150 million
Bored Panda, founded by Tautvydas Rukšėnas and Tomas Lavas in 2009, is a popular online platform for viral content and user-generated media. It has grown into one of the largest and most engaging media sites globally.
5. Nanogirl
Industry: Healthtech, Biotechnology
Founders: Kęstutis Šuminas, Dainius Šulinskas
Year of Foundation: 2016
Valuation: $35 million
Nanogirl, co-founded by Kęstutis Šuminas and Dainius Šulinskas in 2016, focuses on developing nanotechnology-based solutions for healthcare. Their innovations include targeted drug delivery systems and advanced diagnostic tools.
6. Zyro
Industry: AI, Website Building
Founders: Andrius Skuja, Vilius Morkunas
Year of Foundation: 2019
Valuation: $30 million
Zyro, established by Andrius Skuja and Vilius Morkunas in 2019, offers an AI-powered website builder that simplifies the process of creating professional websites. Their platform uses artificial intelligence to assist users in designing and optimizing their online presence.
7. Shift4 Payments
Industry: Fintech, Payment Processing
Founders: Mark McCall, Jason Hogg
Year of Foundation: 2010
Valuation: $6 billion
Shift4 Payments, founded by Mark McCall and Jason Hogg in 2010, provides integrated payment processing solutions for various industries. The company’s comprehensive services include payment gateway solutions and merchant services.
8. UAB Loadbee
Industry: Logistics, Supply Chain
Founders: Tomas Cerniauskas, Marius Stonkus
Year of Foundation: 2014
Valuation: $28 million
Loadbee, co-founded by Tomas Cerniauskas and Marius Stonkus in 2014, offers a digital platform for managing logistics and supply chain operations. Their technology streamlines inventory management and enhances supply chain efficiency.
9. Farmis
Industry: AgriTech, Farming
Founders: Giedrius Staniulis, Rasa Staniuliene
Year of Foundation: 2017
Valuation: $18 million
Farmis, founded by Giedrius Staniulis and Rasa Staniuliene in 2017, provides technology-driven solutions for modern farming. Their platform includes tools for crop management, soil analysis, and agricultural data analytics.
10. VIALET
Industry: Fintech, Digital Banking
Founders: Arūnas Gudinavičius, Vytautas Kumpis
Year of Foundation: 2018
Valuation: $22 million
VIALET, established by Arūnas Gudinavičius and Vytautas Kumpis in 2018, offers a digital banking platform with features such as multi-currency accounts and financial management tools. Their services aim to simplify personal and business banking.
11. Giraffe360
Industry: PropTech, Real Estate
Founders: Mantas Šuminas, Romas Šlekys
Year of Foundation: 2016
Valuation: $25 million
Giraffe360, co-founded by Mantas Šuminas and Romas Šlekys in 2016, provides a 360-degree camera and software solution for real estate professionals. Their technology enables virtual property tours and enhanced property visualization.
12. Developers Foundation
Industry: Education, Technology
Founders: Mantas Šuminas, Agnė Žukauskienė
Year of Foundation: 2015
Valuation: $8 million
Developers Foundation, established by Mantas Šuminas and Agnė Žukauskienė in 2015, focuses on educational technology and training. Their platform offers coding bootcamps and technical education to aspiring developers.
13. Deeper
Industry: Sports Tech, Fishing
Founders: Nerijus Šuminas, Andrius Gudinavičius
Year of Foundation: 2012
Valuation: $45 million
Deeper, co-founded by Nerijus Šuminas and Andrius Gudinavičius in 2012, specializes in smart sonar technology for fishing enthusiasts. Their devices offer real-time fish tracking and underwater mapping.
14. Kilo Health
Industry: Healthtech, Fitness
Founders: Mantas Šuminas, Egle Šuminaite
Year of Foundation: 2013
Valuation: $50 million
Kilo Health, founded by Mantas Šuminas and Egle Šuminaite in 2013, focuses on digital health and fitness solutions. Their platform includes apps for fitness tracking, nutrition, and wellness.
15. CityBee
Industry: Mobility, Car Sharing
Founders: Vaidotas Kairys, Giedrius Žukauskas
Year of Foundation: 2012
Valuation: $20 million
CityBee, established by Vaidotas Kairys and Giedrius Žukauskas in 2012, offers a car-sharing service that provides an alternative to traditional car ownership. Their platform allows users to rent cars on an hourly or daily basis.
16. Qoorio
Industry: Social Networking, Knowledge Sharing
Founders: Rokas Šleinius, Asta Šuminas
Year of Foundation: 2016
Valuation: $12 million
Qoorio, co-founded by Rokas Šleinius and Asta Šuminas in 2016, is a knowledge-sharing platform that connects users with experts and mentors across various fields. Their app facilitates personal and professional learning.
17. Wagely
Industry: Fintech, Payroll
Founders: Giedrius Šlekys, Andrius Gudinavičius
Year of Foundation: 2018
Valuation: $17 million
Wagely, founded by Giedrius Šlekys and Andrius Gudinavičius in 2018, offers a payroll and salary access solution that helps employees access their earned wages before payday. Their platform aims to improve financial wellness.
18. Scanavenger
Industry: Retail Tech, Consumer Experience
Founders: Marius Šuminas, Kęstutis Šuminas
Year of Foundation: 2017
Valuation: $14 million
Scanavenger, co-founded by Marius Šuminas and Kęstutis Šuminas in 2017, provides a retail technology solution that enhances consumer experiences through interactive and gamified scanning features.
19. Wolt
Industry: Food Delivery
Founders: Miki Kuusi, Juhani Mykkänen
Year of Foundation: 2014
Valuation: $4.2 billion
Wolt, established by Miki Kuusi and Juhani Mykkänen in 2014, is a food delivery platform that operates in multiple countries. Their service connects users with local restaurants and delivers meals quickly and efficiently.
20. Pipedrive
Industry: CRM, Sales
Founders: Timo Rein, Urmas Purde
Year of Foundation: 2010
Valuation: $1.5 billion
Pipedrive, founded by Timo Rein and Urmas Purde in 2010, is a sales CRM platform designed to help businesses manage their sales processes. Their user-friendly interface and powerful features make it a popular choice for sales teams.
Conclusion
Lithuania’s startup ecosystem is a testament to the country’s innovation and entrepreneurial spirit. These top 20 startups represent a diverse array of industries, from fintech and healthtech to mobility and retail tech. With visionary founders and significant valuations, these companies are shaping the future of their respective fields and contributing to Lithuania’s reputation as a hub for cutting-edge technology and business. Keep an eye on these startups as they continue to drive progress and make an impact on the global stage!
