The Venture Codex Logo

The Venture Codex

Lithuanian Business Angels Network

L. Stuokos-Gucevičiaus g. 9-10, Vilnius, Vilniaus Apskritis, 01122, Lithuania

Overview

Lithuanian Business Angel Network (LitBAN) fosters business angel activity through communication, events, networking, syndication of deals. Our aim is to educate, connect, and promote angel investing in Lithuania and cross-borders.

Total investments
6
Lead investments
2
Investments · 12mo
0
Active investors
4

Sector focus

  • Association
  • Events
  • Information Technology
  • Messaging
Visit website

Investment portfolio

  • BrachyDOSE

    Participated · Equity · Jul 2025

    BrachyDOSE develops a patient-centric measurement system that combines hardware (a sensor and scanner) with software (an injury-prediction algorithm) to provide real-time decision support during radiotherapy. Its solution aims to help doctors prevent treatment-caused injuries and reduce hospital costs while improving recovery for cancer patients. The company has collaborated with the National Cancer Centre of Vilnius University Hospital Santaros Clinics and the Oncology Hospital of the Lithuanian University of Health Sciences to test its technology. The team includes experts in medical device engineering, data analytics, medical physics, and practicing medical oncologists; co-founder and CEO Neringa Šeperienė holds degrees in applied and medical physics and a PhD in materials engineering. BrachyDOSE plans to recruit a medical device salesperson and is pursuing CE/MDR certification to enable commercial sales in Lithuania and international markets. The recent funding will support clinical testing and completion of regulatory certification required to bring the device to market.

  • Perfection42

    Participated · Seed · Apr 2023

    Perfection42 is a Vilnius, Lithuania–based AI development startup co‑led by CEO Simona Vasytė‑Kudakauskė and CTO Kestutis Tauckela. The company provides artificial intelligence solutions for game development, animation, architecture, design, and art industries. Its solution reduces the time required to render computer‑generated imagery (CGI) by eliminating multiple manual, repetitive processes and increasing work efficiency without sacrificing quality. Perfection42 plans to use new funding to further develop its AI technology and expand sales efforts globally. The company raised seed financing to support product development and go‑to‑market activities. No operating metrics were disclosed in the article.

  • NO-CV

    Participated · Equity · Dec 2021

    NO-CV offers a recruitment app that removes conventional CVs from the hiring process and instead matches candidates with employers. Within a year the startup grew to a 15-person team and the app has about 50,000 users and roughly 800 companies from Lithuania, Latvia and Denmark using the platform. The company has shifted pricing from a fixed fee per ad to a subscription model allowing unlimited ads for a flat fee. NO-CV reports growing numbers of foreign customers (including Denmark’s Dao, which hired drivers via the platform) and aims to expand its international footprint. The startup is participating in two accelerator programs—70V’s revenue accelerator and Newchip—to sharpen sales tactics and prepare for US investors. During its first year it attracted multiple investments to support product development and expansion.

  • Cogastro

    Led · Seed · Dec 2021

    Cogastro builds software specifically tailored to insect farming that automates workflows and operational protocols across multiple insect life stages. The platform provides real-time KPIs (yield, feed conversion rate, cycle speed, hatch rate) and enables historical comparisons by batch, substrate and other variables. The company says its product saves farmers about 60% of their time and can increase efficiency by up to 20%. Cogastro reports strong global interest and works with farms in Australia, Belgium, Israel, Sweden, the United Kingdom and Nigeria. Sales have quadrupled this year, reflecting accelerating demand. The startup plans to use new funding to further develop the product and to scale marketing and sales into the U.S. and Asian markets. Cogastro is a Lithuania-based SaaS that aggregates and analyzes farm data to manage and optimize insect farming operations. The product integrates with sensors and cloud-based data warehousing to provide traceability, dashboards, and mobile access for remote monitoring and decision-making. By 2020 the company was enabling operations at 10 large-scale insect farm productions across Australia, Asia, Africa, South America, and Europe. The software currently supports crickets, mealworms, and black soldier flies and can adapt to additional species; it also offers hardware selection advice and installation support. Cogastro charges annual license fees that vary by farm size and needs and emphasizes automation of critical data aggregation and analytics. The company plans to double its five-person team, hire engineers and customer support staff, expand globally (with a focus on the U.S.), and add intelligence-exchange services to its platform.

  • Attention Insight

    Participated · Equity · Jun 2019

    Attention Insight builds an AI-powered pre-launch design analytics platform that predicts visual attention on websites, outdoor ads and other imagery using a database of more than 30,000 images from eye-tracking studies. The product produces heatmaps, clarity scores, recommendations, comparisons and integrates with Adobe XD, Sketch and a Chrome plugin for designers and marketers. Based on an MIT model, the company reports 90–94% accuracy versus regular eye-tracking studies and has attracted over 5,000 users across the US, German, Scandinavian and other markets. Founded in 2019 and based in Vilnius with a Warsaw branch, the team currently numbers eight people and expects to double in coming quarters. Management says funds will be used to expand into new markets (with a focus on Poland), improve AI/deep-learning models and datasets, develop new features and pursue mobile-device opportunities. The company recently secured a €285K bridge investment and previously attracted €421K from LVPA for R&D and innovation work. Attention Insight is an AI-based platform that analyses product and visual content aesthetics using deep learning trained on eye-tracking data to predict consumer visual attention. Its core product is a SaaS platform that highlights striking or missing design elements and helps marketing teams and media channels make data-driven decisions about visuals. The team is finishing the SaaS build and plans to launch its first product aimed at measuring the effectiveness of visual content on websites. Attention Insight is rolling out into German and Scandinavian markets and has started collaborations with national television channels, news portals, and media planning agencies. Financially, the company disclosed a three-part co-investment of EUR 200,000 and an earlier EUR 50,000 investment from Next Media Accelerator in early 2019, totaling EUR 250,000 in disclosed funding. Investors and partners cited the technology's relevance for media companies and the team's ambition to commercialize AI-driven attention measurement.

Team