2024立陶宛科技生态报告

1The Rise Of Lithuania Tech2Ecosystem Today3Outlook4Regional Analyses "2024 has been a significant year for Lithuaniaʼs startupecosystem. With a valuation exceeding €16B—a remarkable39x growth in just a decade—we have established ourselvesas a regional leader.Lithuania continues to be the fastest-growing startup ecosystem in CEE and ranks second-highestin EV per capita, driven by thriving startups, substantial foreign investments, and some of theregionʼs largest seed round sizes.Vilnius has emerged as the EUʼs leading city for cybersecurity, while both Vilnius and Kaunas arerecognized as top medtech hubs, underscoring our strength in high-impact sectors. Despite globalmarket challenges, Lithuanian startups have demonstrated resilience and adaptability, showinggreater stability and growth than many regional counterparts. Notably, foreign unicorns and €1B+exit companies have also chosen Lithuania as a key base of operations, further enhancing itsreputation on the global stage.These achievements show just how ambitious and determined our startups are, and whatʼspossible when we all work together as an ecosystem. Through programs such as the StartupLithuania accelerator powered by Plug and Play, as well as GameTech in collaboration withGameBCN, EdTech in collaboration with xEdu, and ICT accelerators, weʼre creating realopportunities for Lithuanian startups to thrive, push boundaries, and make their mark on theglobal stage." Karolina UrbonaitėHead of Startup Lithuaniaat Innovation Agency Lithuania Page/ 4Lithuanianstartups areworth more than€16BThe combined value ofthe ecosystem hasgrown 39x in the lastten years. Page/ 548% ofLithuanian techvalue comesfrom breakoutglobal unicornsVinted and NordSecurityHowever, excludingVinted and Nord,Lithuanian startupshave grown 31x in thelast 10 years, wellabove the Europeanbenchmark of 9x. Page/ 6The youngestcohort ofLithuanianstartups aregrowing fasterthan previousolder peersStartups founded since2020 have alreadycreated €1.3B in valuein their first few years.It took the entireecosystem until 2019 topass the samemilestone. Page/ 7The Lithuaniantech ecosystemhas grownfastest amongCEE countries inthe last fiveyears Page/ 8Lithuania hasthe second-highestenterprise valueper capita in CEE Page/ 9Source:Source:Dealroom.co.VC-backedRising StarsValuation <€200MFuture unicornsValuation €200M-1BSource:Page/ 9Dealroom.co.*Includes companies which might have raised very little capital over the years compared to their scale.**Rumoured unicorn with the valuation around €1B.» View onlineLithuanian startup funnel, from rising stars to unicorns.» View onlineBootstrappedstartups*Valuation <€200M» View online Page/ 10Several foreignunicorns and €1B+companies also havea significantpresence inLithuaniaSource:Dealroom.co. HQs outside of Lithuania. 1The Rise Of Lithuania Tech2Ecosystem Today3Outlook4Regional Analyses "Investments in the early-stage ecosystem inLithuania were close to peak of 2021 andoverperformed 2022 and 2023.Such activity is fundamental to enable long-term break-out for a small ecosystem and itwas the most important sign for us in 2024. Several new VC fund managers coming (back)in 2025 should further fuel this trend and help Lithuania reach escape velocity with goodenough outcomes to attract more talent to the ecosystem. Furthermore, the end of 2024marked break-outs of some of Lithuanian AI infra and agents plays – a non-obviousoutcome that will help Lithuania to emerge on the AI map in Europe.The significant contraction in breakout and late-stage investments aligned with theindustry. We hope for later-stage activity to return in 2025, especially eying the rumoredIPOs of Lithuanian unicorns. Lithuania also houses dozens of sizeable and profitablebootstrapped companies, that could participate in consolidation events when the liquidityfloodgate opens up.One of the most significant events was the 340m EUR secondary round of Vinted led bythe TPG group. The brought-up liquidity to the local market will fuel early-stage teams andideas in 2025." Page/ 13Lithuanianstartups raised€128M in 2024The drop is mainly dueto breakout andlate-stage investments,while early-stageactivity remains strong. Page/ 14CEESource:Dealroom.coBalticsLithuaniaThe rest of the region experienced a similar drop from the outlier year of 2021-81%-69% Page/ 15Early-stage VCinvestment in2024 reached€108M, markingthe second-bestresult on record Page/ 16Selected fundingrounds raised byLithuanianstartups in 2024Source:Dealroom.coView live » Security:real-time crypto fraudprevention€13MJun 2024 - Early VCFintech:streamlined financialservices for efficiency€6.5MAug 2024 - SeedSecurity:AI-driven UAV swarmtechnology€3.2MMay 2024 - Early VC Fintech:accessible internationalmoney transfer services€9.1MApr 2024 - Late VCFintech:digital asset solutions forbanking efficiency€5.5MDec 2024 - Series A €6.5MAug 2024 - SeedHealth:secure healthcare dataprocessing and analysis€3.2MJun 2024 - Seed Page/ 17Lithuanianst