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Not being a fan of one news per post (and being extremely short on time) I have news on two Lithianian startups … in one blog post.
First, TrackDuck, the interactive web design feedback tool developer and the winner of recent TechChill Baltics – has announced raising 200,000 Euro from Lithuanian Venture Fund Practica Capital and international seed fund Kima Ventures. According to the co-founder of TrackDuck Eddie Balčikonis, Kima Ventures’ Jeremie Berrebi made a decision to invest on the slide 6 of 12 of the pitch deck. The conversation took place at DLD Tel Aviv.
TrackDuck helps developers, web designers and their clients collaborate and give and receive feedback on the website design. We have covered TrackDuck last month. The company has first paying customers from Germany within a month from the launch, and has 4000 users from 88 countries. Donatas Kras, the founding partner of Practica Capital said that “the team is most important criteria for investment, Truck Duck international team is amazing and very talented, we have full trust in them”.
In the meantime another startup backed by Practica Capital – TRAFI has announced launching its product – public transport route planner – in Baltic countries Latvia and Estonia. The company already operates an online public transport real-time route planner in Lithuania, and plans expansion outside of the Baltic Rim soon.
I caught up with CEO and co-founder of TRAFI Martynas Gudonavicius who told me that the solution – available for iOS and Android device – is for daily commuters, helping them with real time information about the public transport and route planning.
Trafi, that has raised $500K at the last quarter of 2013 has already launched in Turkey and plans to launch in Brazil in the near future.
Currently the business model is not defined, but in the future selling the tickets and receiving fees from the cities covered by the app would be potential revenue sources.
According to Gudonavicius it takes between 2 days and 2 weeks to launch an individual city.
So, it looks like Lithuanian startup scene is getting more and more active. YPlan and Vinted are probably two of the better known startups, as well as GetJar that has recently been acquired by Sungy Mobile.
Aside from that Lithuanian accelerator Startup Highway has just closed its latest round of applications and will have a short list of participants by the end of March.
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