Led · Seed · Mar 2024

Founded in 2020 in Riga by Arturs Abols, Gatis Mozolevskis, and Roberts Rimša, Cellbox Labs builds industrial organ-on-chip technology that recreates miniature versions of human organs such as the gut and lung outside the body. These highly predictive models allow researchers and pharmaceutical companies to assess drug efficacy and toxicity without relying on animal studies. Beyond the chips themselves, the company is engineering an automated organ-on-chip cultivation device designed to boost throughput, cut human error, and limit manual handling. The first commercial version of this device is now under development. Proceeds from the recent financing will fund final engineering work, regulatory preparation, and initial sales efforts. Although operating metrics such as revenue or customer count have not been disclosed, the company positions its platform as a cost-effective, scalable alternative to traditional pre-clinical methods.

Led · Seed · Mar 2022

Naco Technologies is a Riga-based company specializing in advanced nano-coatings and novel materials for green hydrogen systems. Its coatings focus on improving the effectiveness and durability of electrolyzers and fuel cells and aim to provide alternatives to noble metals like platinum. The company positions its solutions as practical, ready-for-integration technologies that can help industrial hydrogen producers scale without material scarcity constraints. Naco plans to expand globally into key markets, intensify research and development, and strengthen its team and infrastructure to meet growing demand. The firm recently secured €1.2M in a pre-Series A round to support those efforts. CEO and co-founder Aleksandrs Parfinovics and investor representatives emphasized the strategic importance of the technology for the green energy transition. Naco develops nano-coating solutions and manufactures coated components aimed at lowering material use and cost in electrolyzers and fuel cells. The company uses precision plasma spraying and has created a catalytic platinum layer on electrodes for hydrogen applications. Naco supplies new material solutions to global players including Siemens Energy, Hyundai, and Plug Power. It positions itself to simplify hydrogen production by offering a full spectrum from coatings to ready-to-use parts. The startup raised fresh capital to build a manufacturing station for coated components and plans to attract further investment to place stations closer to clients’ factories.

Participated · Seed · Feb 2019

Asya is developing an AI-powered mindful conversation app that listens to a user’s voice in conversations and provides real-time feedback on conversation quality. The app uses models developed by co-founder Evald’s AI research to analyse conversation tempo, emotions and balance and communicates feedback visually via a flower that blooms based on the analytics. To protect privacy the app records conversation patterns without retaining actual words and reports statistics on listening proportion, pauses, and (soon) emotional impact. Users can view statistics over time to enable long-term improvements in conversational habits. The app is invitation-based with a waiting list and early sign-ups will have earlier access. The company closed a €120k pre-seed round to fund the app’s launch this summer.

Participated · Seed · Aug 2015

Solu is developing a new type of operating system paired with its own hardware aimed at the personal computer market. The company is currently stealthy about product details but plans a public launch in the autumn with parallel events in San Francisco, London and Helsinki. Solu was incorporated in September 2014 and previously raised a six-figure pre-seed at that time. Its founding team includes CEO Kristoffer Lawson, Javier Reyes and Pekka Nikander, and the company has about 12 employees. The company frames a broad mission to change the industry with unique technology, and its board includes industry and public figures such as Sonja London, Taneli Tikka and Jyrki Kasvi. Financially, Solu has just closed a $1.3M seed round to fund its upcoming product rollout.