Recently Funded Startups in Latvia (Nov-2025)
Last Updated: 21-Nov-2025
Latvia’s startup ecosystem continues to flourish, demonstrating a remarkable resilience and adaptability in the face of global economic challenges. Over the past year, the country has seen an uptick in funding activities, with 9 startups successfully securing investment this year alone. This wave of financial backing highlights the burgeoning potential of Latvian entrepreneurs, particularly in technology-driven sectors that are increasingly becoming the backbone of the economy. As innovation and technology integration become paramount, the startup landscape in Latvia is well-positioned to attract further investment and collaboration.
Funding plays a critical role in the growth and sustainability of startups, enabling them to scale operations, enhance product offerings, and penetrate markets more effectively. The increasing interest from investors in this Baltic nation has illuminated key industries thriving within the region, including Information Technology, Manufacturing, and B2B software solutions. With a total of 40 startups tracked and significant funding raised this year, Latvia is emerging as a noteworthy hub for innovation, fostering a community that supports and nurtures next-generation businesses.
Funding Highlights
- Total number of startups tracked: 40
- Number of startups that raised funding last year: 12
- Number of startups that raised funding this year: 9
- Total funding raised this year (in USD Millions): 12.2738
- Largest deal: Mobilly, Series Unknown, $4 million
- Top industry by funding amount: Information Technology ($7.8 million)
- Top industry by funding amount: Manufacturing ($2.6 million)
- Top industry by funding amount: B2B Software, Artificial Intelligence, Cloud Computing ($1.28 million)
- Top industries by number of deals this year: Information Technology (2 deals)
- Top industries by number of deals this year: Advertising, Marketing, Analytics, Artificial Intelligence, B2B Software, Data (1 deal)
- Top industries by number of deals this year: Artificial Intelligence (AI) (1 deal)
Full List of Recently Funded Startups in Latvia
| Company | City | Country | Round | Amount | Date | Industry |
|---|---|---|---|---|---|---|
| Desktop Commander | Riga | Latvia | Pre-Seed | $1,282,053 | 2025-10-30 | B2B Software, Artificial Intelligence (AI), Cloud Computing |
| Adsmom | Riga | Latvia | Pre-Seed | $100,000 | 2025-10-17 | Advertising, Marketing, Analytics, Artificial Intelligence (AI), B2B Software, Data |
| Mobilly | Riga | Latvia | Series Unknown | $4M | 2025-08-25 | Information Technology |
| Cellbox Labs | Riga | Latvia | Series Unknown | $3.8M | 2025-08-06 | Information Technology |
| POSfinance | Riga | Latvia | Pre-Seed | $159.6K | 2025-05-27 | Financial Services |
| Adventum Tech | Riga | Latvia | Series Unknown | $284.2K | 2025-05-23 | Hardware |
| Ambear | Riga | Latvia | Pre-Seed | Undisclosed | 2025-04-14 | Artificial Intelligence (AI) |
| Tournated | Jurmala | Latvia | Series Unknown | $50K | 2025-02-12 | Commerce and Shopping |
| Naco | Riga | Latvia | Seed | $2.6M | 2025-01-14 | Manufacturing |
| Origin Robotics | Riga | Latvia | Pre-Seed | $2.6M | 2024-10-25 | Government and Military |
| Sorsera | Marupe | Latvia | Series Unknown | $1.4M | 2024-09-04 | Artificial Intelligence (AI) |
| Mobilly | Riga | Latvia | Series Unknown | Undisclosed | 2024-08-15 | Information Technology |
| BeTRITON | Valmiera | Latvia | Series Unknown | $87.4K | 2024-08-07 | Transportation |
| Mintos | Riga | Latvia | Series Unknown | $3.4M | 2024-08-06 | Financial Services |
| Jeff | Riga | Latvia | Seed | $2M | 2024-07-17 | Financial Services |
| Texora | Jelgava | Latvia | Series Unknown | $216.3K | 2024-06-12 | Manufacturing |
| RivalSense | Riga | Latvia | Angel | Undisclosed | 2024-06-05 | Artificial Intelligence (AI) |
| Medon | Riga | Latvia | Series Unknown | $345.9K | 2024-05-29 | Health Care |
| AM Craft | Riga | Latvia | Pre-Seed | $649.4K | 2024-05-15 | Manufacturing |
| Cellbox Labs | Riga | Latvia | Pre-Seed | $1M | 2024-05-10 | Information Technology |
| Mapon | Riga | Latvia | $3.3M | 2024-03-11 | Financial Services | |
| Naco | Riga | Latvia | Seed | $1.3M | 2023-12-20 | Manufacturing |
| Exponential Technologies | Riga | Latvia | Series Unknown | $305.4K | 2023-12-15 | Artificial Intelligence (AI) |
| SpirulinaNord | Riga | Latvia | Seed | $634.9K | 2023-10-20 | Food and Beverage |
| Swotzy | Riga | Latvia | Pre-Seed | $547.6K | 2023-08-14 | Software |
| DEAC | Riga | Latvia | Series Unknown | Undisclosed | 2023-07-20 | Hardware |
| WeedBot | Riga | Latvia | Series Unknown | $463.5K | 2023-05-12 | Agriculture and Farming |
| Cubed | Riga | Latvia | Series Unknown | $5K | 2023-05-03 | Real Estate |
| FIS.solutions | Riga | Latvia | Series Unknown | $272.6K | 2023-04-05 | Other |
| Naco | Riga | Latvia | Series Unknown | $11M | 2023-04-04 | Manufacturing |
| Hyperjob | Riga | Latvia | Seed | $476.7K | 2023-04-04 | Software |
Frequently Asked Questions
Q1. Where can I find recently funded startups in Latvia?
You can explore our full list of startups that raised funding this month above. You can also subscribe to our free plan to get weekly alerts.
Q2. How many startups in Latvia were funded this year and last year?
Out of 40 tracked startups in Latvia, 9 raised funding this year and 12 raised funding last year; total funding this year is $12.2738M and the largest deal was Mobilly at $4M.
Q3. Which industries are trending among recently funded startups in Latvia?
By funding amount: Information Technology ($7.8M), Manufacturing ($2.6M), and B2B Software/AI/Cloud ($1.28M). By deal count: Information Technology leads (2 deals), followed by Advertising/Marketing/Analytics/AI/B2B Software/Data (1 deal) and AI (1 deal).
Q4. How can I connect with these startups in Latvia?
You can subscribe to our premium plan for verified CEO and decision-maker contacts.
Q5. What is the typical deal size and the largest recent round in Latvia?
The largest deal this year was $4M (Mobilly); with $12.2738M total across 9 deals the average deal size this year is roughly $1.36M, indicating many early to growth-stage rounds.
