August's newsletter is here: prepare to be amazed! 😉

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August, 2023

In this month's newsletter, we're thrilled to share some of the latest news and updates from Vilnius TechFusion.

An August to Remember:

A Sizzling Finale to Summer

What a way to wrap up the summer! As the season of sun and fun winds down, Vilnius continues to make headlines and assert its presence in the tech universe. This August, the brilliant minds at AISPECO developed the world's most powerful integrated data collection platform, setting new standards in data analytics and management. Not to be outdone, Vilnius-based startups have topped the charts as the country’s highest salary payers and tax contributors, as reported by Unicorns Lithuania, further solidifying our city's reputation as a booming tech and business hub.

As we look forward to the crisp air and colourful autumn leaves, Vilnius TechFusion is excited to highlight some of this month's top news and unveil a line-up of fantastic upcoming events you won't want to miss. So, take a moment to pat yourselves on the back for an incredible summer, and let's dive into this month's newsletter!

Main August Headlines

GoRamp secures $3M for logistics expansion

Vilnius-based logistics facilitator GoRamp raised $3M in a late seed round led by Lead Ventures. Their solution addresses supply chain challenger with automated logistics procurement and optimised warehouse management. This investment empowers GoRamp to strengthen its presence in Europe and North America.

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Kilo Health’s impressive 84% revenue growth

The digital health firm Kilo Health's revenue hit €213M, almost doubling from 2021. CEO Tadas Burgaila attributes growth to strategic investments in chronic disease solutions and sales channels expansion. With 678 specialists, Kilo Health targets more product development and process efficiency, stressing reinvestment for sustained growth.

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€3.7B Teltonika's High-Tech Hill project starts in Vilnius

Vilnius-based Teltonika group commenced a state-of-the-art PCB manufacturing plant in its tech park. This pivotal step in the €3.7B project includes a PCB factory, offices, data centre and more. The PCB factory's advanced automation and environmental standards will position it among Europe's best.

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Cargo Stream secures €1M for market expansion

The logtech startup Cargo Stream secured a €1M investment led by LitCapital, fuelling ambitious expansion plans in Poland and the UK. Leveraging cutting-edge technology, Cargo Stream's innovative approach streamlines logistics processes, improving efficiency for freight forwarders and shippers.

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12 CEOs wanted for health tech startups

The Vilnius-based Kilo Health accelerator is seeking visionary leaders for its co-found program, targeting EU startups. With 30+ digital health products, Kilo Health aims to expand with 12 new startups in 2023. With the digital health market set to grow to $650B by 2025, Kilo Health's revenue is surging, making it Europe's second fastest-growing company. Applications are now open.

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Digital Brilliance: tech, marketing and AI fusion

We partnered in the captivating Digital Brilliance, an event exploring the dynamic intersection of technology, marketing and AI. Experts at Tech Zity illuminated how these domains synergise, fostering original industry-shaping content and work efficiency. Attendees delved into top tech trends, AI content production, business strategy and more, igniting innovation and networking.

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Space industry's fusion fuels innovation

Amid technological convergence, the space industry emerges as a captivating realm. Kongsberg NanoAvionics leads ground-breaking collaborations with NASA, SpaceX, ESA, and Thales Alenia Space. Their adaptable approach and standardised satellite buses drive reliable mass production, increasing capacity significantly.

Get to know the company

Vilnius is My City Festival - join for free

This Saturday the residents of Vilnius will come together to embrace unity and diversity. Engage in cultural activities, connect with global communities and make lasting memories. Celebrate Vilnius’ business spirit with the special Mindstorm Corner by Vilnius TechFusion. See you there!

Join the event

Sector Leaders

Meet Simonas Stūrys, CMO at Nordcurrent

With a turnover of €89M, Nordcurrent has captivated a global audience with its games. In this interview, Simonas discusses Vilnius' rapid rise in the gaming industry, driven by both local talent and studios relocating to the city. He highlights Lithuania's warm game development community, the challenges of global market access and the demand for specialised professionals. He also sheds light on the vital roles within game development and offers insights into Nordcurrent's experience in predicting successful games.