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As Slush conference in Helsinki goes into its second day, a number of Baltic startups have been pushing their way into the top 20 shortlisted teams. Froont (responsive website “prototyper”), Language Accelerator (learn a language in 200 hours), Weekdone (cloud-based productivity monitoring), Sportlyzer (coaching and logging tools for sport clubs), Trackduck (visual website feedback turned into bug-fixing tasks for developers) have all made it to the next round.
In the meantime, in the world of serious science, Commercialization Reactor Riga has been announcing news from three of its teams raising funding from Imprimatur Capital. This may not sit well with our focus on IT and web startups, but the fact that these hard-core startups from as far as Armenia get funded is encouraging.
Aminostream a Biotech Startup signed loan financing for €50,000 with Imprimatur Capital Seed Fund. Aminostream produces non-protein amino acids at Armenian Research Institute of Biotechnology. The company has developed the unique technology of universal and industrially scalable method of high-purity optical isomer synthesis of NPAA, which produces exceptionally pure product at the fraction of the regular cost.
Mahydy invention is continuous steel metalizing that helps slow down metal corrosion and significantly reduce costs of hot dip galvanizing. This can be applied at various stages of steel structure productions. Previously Mahydy raised $100,000 from Amber Seed Business Angel Club and a Seed Fund of Russian Venture Company, and it has currently secured 50,000 Euro loan from Imprimatur Capital Seed Fund.
NanoOptoMetrics developed a measuring tool – profilometer to measure roughness of the surface and got the same 50K Euro pre-seed loan financing from Imprimatur Capital Seed Fund. This is a white light profilometer, which is vibration insensitive, incorporate measurement into the production equipment, allows to take measurements at a distance of 1 meter and with depth of up to 100mm and has a precision of 1nm. These qualities compares well with the properties of existing competitive products.
As with scientific startups, it probably takes a strategic investor to take them through the further R&D and commercialization efforts as the CEE venture funds known to us would hardly look at these products unless they were some breakthrough in battery technology, the problem every investor knows well.
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