Participated · Equity · Apr 2023

Elmo develops remotely controlled electric cars and provides an eco-friendly car-sharing service. Led by Founder and CEO Enn Laansoo Jr., the Tallinn-based company has deployed road-legal remotely controlled cars and licensed drivers into real-life car-sharing services in Tallinn and Tartu. Its vehicles and licensing process have been demonstrated in cities including Paris, Munich, Hannover, Zurich, Vienna, Helsinki and Los Angeles. Elmo says it is negotiating with more than 50 customers interested in licensed technology and is preparing to start driving on the public roads of at least two foreign cities this summer. The company raised up to €2.6M from investors including Highgoal Capital Management, FlyCap, Barolo Invest and SAGGIS. It intends to use the funds to accelerate licensing in foreign markets, grow the team for next-generation technology development, and prepare new eco-sustainable remotely controlled cars for public roads.

Participated · Equity · Jul 2016

Sonarworks builds next-generation audio applications for professional studios and consumer devices, with its products used in roughly 70,000 studios worldwide. Founded in 2012 in Riga, the company gained attention after unveiling its Reference 3 product suite at NAMM in 2015. In early 2020 Sonarworks launched SoundID, a machine learning–based app that creates customized sound profiles via a hearing test. The firm has signed licensing agreements with partners and is expanding its licensing operations. Sonarworks plans to deepen its presence in the U.S. and enter Asian markets as part of a broader goal to bring better audio to over 1 billion devices. Financially, the company has raised a total of $13.8 million to date, including its latest $6 million round. Sonarworks develops digital sound calibration and personalization software that combines device-level calibration with individualized hearing profiles. The company maintains a database of more than 10,000 measured sound devices and uses AI-based technologies to precisely map individual hearing and sound preferences. By combining digital adjustment of the sound device and individual hearing data, Sonarworks aims to deliver a personalized sound experience for every individual on every device. It serves customers in over 170 countries. Founded in 2012 and led by CEO Helmuts Bems, the company plans to use new funding to develop its consumer calibration and personalization products and expand its market presence in key regions. The article notes a recent financing event that supports these product and expansion plans. Sonarworks builds software that eliminates sound shortcomings in speakers and headphones, including its Reference 3 calibration product used in professional audio. More than 5,000 studios worldwide use Reference 3, from home studios to recording studios where artists such as Taylor Swift, Beyonce and Lady Gaga record. The company has received industry recognition, winning Sound On Sound's Best Audio Product in 2016 and an Innovation Award from MusicTech. The fresh €700,000 from the third investment round will be used to develop a new product aimed at a wider consumer market to let listeners hear music as it was recorded regardless of playback device. Financially, Sonarworks has attracted €1.5 million in venture capital to date and reported that sales exceeded costs at the beginning of the year. The idea dates to 2012 and the company was officially registered in 2013.

Participated · Seed · Mar 2015

AirDog produces foldable, self-flying drones designed for self-video shooting in action sports, featuring motion prediction technology and dedicated action-sport flight modes. The drone pairs with AirLeash, a wearable waterproof controller that lets users select the sport and launch the device to capture their moves. The company has launched retail in Europe and the U.S. and plans to use new funding to expand into additional markets. AirDog was founded by Edgars Rozentals and operates out of Palo Alto, CA and Riga, Latvia. The article does not disclose revenue, users, or other operating metrics. Airdog develops a small foldable quadcopter auto-follow drone especially designed for filmmakers and action sports enthusiasts who use GoPro cameras. The drone automatically follows the user wherever they go. The company raised $1.368M via Kickstarter and recently closed a $2M seed round to support product launch. The funds are intended to bring the product to market. Airdog is led by CEO Edgars Rozentals and is based in Palo Alto, CA and Jelgava, Latvia.

Led · Seed · Jul 2014

Mailigen offers an integrated marketing platform that delivers email, mobile and social media marketing services. Led by CEO Janis Rose, the company serves customers in more than 100 countries and has established a presence in China and Russia, with the U.S. as its primary target market. The company plans to use newly raised funds to improve its technology and develop marketing features including improved infrastructure, in-depth data analysis, event management, responsive email templates, a mobile version of the platform and video integration. Part of the funding will also be spent on an educational program, events and other marketing activities aimed at developing the email marketing industry in Northern Europe. Mailigen emphasizes an integrated approach across email, mobile and social channels for its customers.