BalticVC

Venture fund Superangel has announced a new early-stage fund to invest in defense technology startups called Archangel .

Lithuanian startup Astrolight has closed a seed round at €2.8M led by tech investor Balnord . Other key investors were EIFO , Coinvest Capital , NGL Ventures and a member of Lithuanian Business Angel Network LitBAN Rita Sakus.

Ukrainian-Estonian MilTech startup Deftak has raised an investment of €600K from European defense investment fund Darkstar. The raised funds will allow Deftak to expand production and scale assistance to the defense forces of Ukraine and NATO countries.

SafePAS has announced that it has raised a first round of investment of €700K. The company has received support from BSV Ventures, Securetec Detektions-Systeme AG , EstBAN , PurposeTech , Beamline and Lanmer . According to the company, the funding will help accelerate the time-to-market of the products SafePAS is developing.

Tallinn-based venture fund Specialist VC has invested in Ukrainian AI startup Banani AI in a pre-seed round. The total investment amounted to €850K. Polish venture capital firm Inovo VC also participated in the round.

According the annual survey of Baltic Private Equity and Venture Capital Market Overview 2024 from KPMG , fundraising activity decreased to €265M (down 67% year-on-year). This is after two outstanding fundraising years in 2022 and 2023, when Baltic fund managers raised more than €1.5B.