Led · Equity · Aug 2024

Electrify is a Riga-based mechanical engineering company founded in 2019 and is Latvia’s only car manufacturer. The company designs and produces electric minibuses for urban and intercity public transport, student transport, and bespoke customer needs. About half of its production is exported to Estonia, Lithuania, Germany and Norway, and in 2023 Electrify signed an agreement with a major passenger carrier in the Norwegian and Swedish markets. The company says its minibuses are well suited for narrow streets, on-demand transport and combined passenger/goods delivery, aligning with European emission-free transport initiatives. Electrify plans to use new funding to boost production capacity to meet anticipated demand, particularly in Norway where purchases of minibuses with internal combustion engines will be banned from 2025. Management expects turnover to increase by more than 500% in 2024 and will deploy the capital to provide necessary working capital and scale manufacturing.

Participated · Equity · Jun 2023

RoyaltyRange is a London-based provider of professional databases used in International Tax and IP Valuations. Its core product set comprises four transactional databases and four data tools that provide information on royalty rates, service fees and loan interest rates sourced from third-party agreements. The products were designed by International Tax and IP Valuation professionals to remove inefficiencies and align with practitioners’ workflows. RoyaltyRange employs proprietary technology and algorithms to acquire and structure data from diverse sources. It serves clients in more than 70 countries, including KPMG, Ernst & Young, Deloitte, PwC, BDO, RSM, Grant Thornton, numerous tax authorities and international law firms. The company raised more than €4M in a joint investment and will use the funds to grow and deepen the breadth and quality of data across its product portfolio. RoyaltyRange supplies data used to set, compare and value royalties applied in intellectual‑property licensing. It offers a wide range of services including comparative‑analysis studies, bespoke data‑collection, contract searches by client criteria, and long‑term access to a curated database. Each database entry is the result of detailed analysis and the data conforms to the latest OECD standards. Its clients include leading companies, international consultancies, audit firms, law firms, government agencies and universities worldwide. The company is developing new solutions, pursuing several new projects, analysing new areas, and expanding into global markets. Practica Capital invested €0.4M to support product development and international expansion. Founder Asta Rudzikienė emphasized the company’s focus on high‑quality products that create value for clients and the industry.

Led · Series A · Feb 2022

eAgronom provides farm management and sustainability tools that help independent farmers and agricultural groups implement crop monitoring, automated reporting, crop and yield plans, and activity schedules. Founded in 2016, the company has modernised hundreds of thousands of hectares across Europe and Africa. It works with more than 3,000 farmers in 14 countries and its partner farms have stored 525,000 tCO2 p.a. Soil health is central to its work and underpins its carbon offsetting and insetting programs that subsidise regenerative practices. eAgronom is targeting 4.1 million hectares by 2025 and plans to expand its presence in key markets. The company intends to scale Scope 3, sustainable finance, and other sustainability initiatives to reduce farmer risk and drive adoption. eAgronom offers a data-driven digital platform that combines agronomy, IT and environmental science to help farmers manage farms more sustainably and profitably. Its core product includes GHG monitoring and data-measuring technology plus a carbon programme that verifies farm footprints and enables farmers to earn carbon credits. The platform delivers direct subsidies and guidance to optimise fuel and fertiliser use, improve soil quality, and avoid greenwashing. eAgronom reports over 1.2 million hectares of farmland under management across Europe and Africa and supports farmers in Spain, Poland, Romania, East Africa and seven additional markets. The company says its carbon credit income programme creates supplementary revenue streams and better access to finance for farmers. eAgronom plans to scale its carbon programme across Europe and Africa following initial successes. eAgronom, founded in 2016, began as farm management software and has grown into one of the largest agtech companies in the Baltics. Its core product is farm management software and consultancy that reduces administrative load and helps farmers achieve higher yields and income. The company already supports over 1,500 agribusinesses covering more than one million hectares across Europe. With new funding, eAgronom plans to pivot the majority of its business toward a farming-based carbon credits platform and to expand into new markets, including outside the EU. It intends to improve carbon-tracking technologies and launch the Solid World DAO to provide liquidity and transparency for high-quality carbon projects using blockchain and the Web3 community. Management says the platform will provide transparent tracking and access to capital for nature-based companies and aims to become a leading developer of high-quality carbon credits. eAgronom offers an AI-powered farm management platform that automates crop rotation plans, integrates satellite NDVI data, and analyses farmers' financial performance. The product is used by about 1,500 farmers managing roughly 1 million hectares of grain land in Europe. The company plans to roll out AI-powered digital consultancy services across more countries. eAgronom raised a €1.2 million convertible equity round and has recruited Kristjan Luha, a former Nike Vice President, as Chief Commercial Officer to support commercial expansion. Founded in 2016 and based in Tallinn, Estonia, the startup has raised a total of €4.5 million to date. It is preparing to raise a further €10 million in a Series A in the spring of next year. eAgronom is an agtech startup that provides a web and mobile platform enabling farmers to manage and oversee their entire farm, employees and fields in real time. As a planning and management tool for grain farmers, the platform helps users achieve economic gains and reduce risks through proper planning and task timing in sowing rotational systems. The company has rolled out in nine European countries and is used to manage over 700,000 hectares. Headquartered in Tartu, Estonia, and founded by Robin Saluoks and Stenver Jerkku two years ago, eAgronom employs over 35 specialists. It raised €1m in seed funding to improve the platform's agronomical and financial analysis modules and to scale sales and support teams.