The Lithuanian tech ecosystem is a vibrant and rapidly growing hub of innovation, attracting attention from around the globe. Known for its strong emphasis on education and digital literacy, Lithuania boasts a highly skilled workforce, particularly in IT and engineering fields.

Lithuania’s capital, Vilnius, is often referred to as the “Baltic Silicon Valley,” reflecting its dynamic tech scene and entrepreneurial spirit. Additionally, Lithuania’s strategic location, excellent digital infrastructure, and strong connections within the European Union make it an ideal gateway for tech companies looking to expand into the European market.

The blend of talent, innovation, and supportive infrastructure makes Lithuania an exciting and promising player on the global tech stage.

Here are ten companies that drive innovation and foster a dynamic ecosystem that promotes technological advancement and economic growth in Lithuania.

1

SME Finance

Industry: Fintech
Amount raised in 2023: €140M

SME Finance is a financial technology company, specializing in providing comprehensive financing solutions to small and medium-sized enterprises (SMEs).

The company leverages advanced technology to offer tailored financial services, including factoring, business loans, and invoice financing, aimed at supporting the growth and operational needs of SMEs.

SME Finance has quickly become a leading player in the fintech industry in the Baltic region, known for its innovative solutions and commitment to empowering local businesses.

2

Nord Security

Industry: Security
Amount raised in 2023: $100M

Nord Security is a cybersecurity company renowned for its robust and innovative solutions designed to protect individuals and businesses online.

The company offers a range of security products, including NordVPN, a widely acclaimed virtual private network service, NordPass for secure password management, NordLocker for encrypted cloud storage, and NordLayer for advanced network access protection.

With a mission to make the internet safer for everyone, Nord Security emphasizes privacy, security, and ease of use, making cutting-edge cybersecurity accessible to millions of users globally.

3

PVcase

Industry: Cleantech
Amount raised in 2023: $100M

PVcase is a next-generation PV software company revolutionizing solar design operations globally.

With a strong engineering foundation and a cutting-edge development team, PVcase aims to set a new industry standard for utility-scale solar layout design, focusing on automation and accuracy from the initial planning stages. Their software, incorporating 3D topographical data, helps customers deliver higher yields and win more projects.

The company continues to innovate, seeking to optimize other aspects of commercial and utility-scale PV project planning and evaluation.

4

Cast AI

Industry: Cloud
Amount raised in 2023: $55M

Cast AI is a leading technology company that specializes in cloud optimization solutions, helping businesses manage and optimize their cloud infrastructure for improved performance and cost-efficiency.

The company offers an advanced platform that leverages artificial intelligence to provide automated cloud cost management, real-time optimization, and comprehensive insights.

By simplifying cloud operations and ensuring optimal resource allocation, Cast AI enables companies to achieve significant cost savings and enhanced performance.

5

CUBE3.AI

Industry: Fintech
Amount raised in 2023: $8.2M

CUBE3.AI is enhancing the security of web3 to foster a more decentralized future by making real-time transaction security a necessity.

The company’s mission is to accelerate the global adoption of decentralized technologies, contributing to a more transparent, efficient, and inclusive digital economy.

CUBE3.AI offers advanced cybersecurity solutions for smart contracts, enabling businesses and communities to confidently adopt web3 technology, assured that their digital assets are safeguarded against threats, fraud, and compliance risks.

6

Green Genius

Industry: Energy
Amount raised in 2023: €6.9M

Green Genius is a forward-thinking renewable energy company dedicated to developing and managing sustainable energy projects across Europe.

The company specializes in solar, biogas, wind, and other renewable energy solutions, striving to reduce carbon footprints and promote environmental sustainability. Green Genius is known for its innovative approach, combining cutting-edge technology with expert knowledge to deliver efficient and reliable renewable energy solutions.

The company aims to accelerate the transition to a greener future by providing clean energy alternatives, supporting communities, and contributing to the global fight against climate change.

7

Genus AI

Industry: Software
Amount raised in 2023: $6M

Genus AI is a company specializing in artificial intelligence solutions aimed at enhancing customer engagement and driving business growth.

The company harnesses advanced AI and machine learning to help businesses understand and predict customer behavior, personalize interactions, and optimize marketing strategies.

By utilizing data-driven insights, Genus AI helps to automate creative production, target ideal audiences, analyze and improve ad performance, saving time and budget while boosting campaign results.

8

Genomika

Website:
Industry: Deeptech
Amount raised in 2023: €5M

Genomika is a company specializing in genetic testing and personalized healthcare solutions.

The company offers advanced genomic services, including DNA sequencing, genetic diagnostics, and personalized medicine, aimed at improving health outcomes and advancing medical research.

Genomika provides precise and comprehensive insights into genetic profiles, helping individuals and healthcare professionals make informed decisions.

9

HeavyFinance

Industry: Fintech
Amount raised in 2023: €4M

HeavyFinance is a climate technology firm providing sustainable finance and investment solutions for agriculture.

The company generates verified agricultural carbon credits, offering farmers additional financial incentives as they transition to more sustainable soil management practices.

To ensure the positive impact of external financing provided to farmers, Heavy Finance’s soil scientists and agronomists collect soil samples and conduct advanced laboratory tests to measure the levels of CO2 removed from the atmosphere.

10

OxipitAI

Industry: Healthtech
Amount raised in 2023: €3.5M

OxipitAI is a medical technology company specializing in artificial intelligence solutions for radiology.

The company develops advanced AI-powered software that enhances the accuracy and efficiency of medical imaging diagnostics. OxipitAI’s innovative tools assist radiologists by providing automated image analysis, detecting abnormalities, and generating comprehensive reports, thereby improving diagnostic confidence and patient outcomes.

With a focus on integrating cutting-edge AI technology into clinical practice, OxipitAI aims to revolutionize radiology, ensuring timely and precise medical diagnoses.