Baltics startups have raised a record €649m in capital in the first half of 2021
Baltics startups have raised a record €649m in capital in the first half of 2021 - three times the amount raised during the same period of the previous year. Considering that the startup ecosystem was almost nonexistent in the region 10 years ago, the three countries (Latvia, Lithuania, Estonia) have been experiencing an amazing growth in the sector, with over 5000 startups and scaleups currently, and showing no signs of slowing down. Here are some interesting facts about the Baltics and their startups.
A recent Dealroom report showed that Estonia is number one in the world in terms of startups per million inhabitants. According to “Invest in Estonia”, Estonia also has the most unicorns per capita in Europe.
According to VC firm Index Ventures, new legislation in Latvia into stock option policies where employees can get equity of a company have made the country the most "startup-friendly in Europe.
Lithuania has a booming sector in life sciences, with an international reach, which the fastest growing in the EU with an annual growth of 22%. With nearly €2bn in revenue, its top export destinations being the US, Germany and China in 2020.
To find out more about the amazing growth of the startup sector in the Baltics visit here.
