The fresh funding came from the Tech4Cure initiative under the EU’s Important Project of Common European Interest (IPCEI).

The seed round was led by Practica Capital, with additional support from FIRSTPICK, Outlast Fund, and Inovo. VC.

Riga-founded Trace.Space has secured $4 million in a seed funding round led by Cherry Ventures, with support from Change Ventures.

Riga-based nano-coating startup Naco Technologies has secured a €1.5 million expanded pre-Series A round co-led by Radix Ventures, Impact Ventures and Kendris Capital.

Riga-based VC Outlast Fund has launched a new fund to support startups across the Baltics and Nordics.

Latvian-founded fintech startup Finfra has raised $2.5 million in funding, led by Cento Ventures and supported by Accion Venture Lab, Z Venture Capital, Matiss Ansviesulis, Hustle Fund, and FIRSTPICK.

Latvian biomedical startup PrintyMed has secured over €800,000 in grant funding to create a heart valve prosthesis and a membrane for cell binding, using artificial spider silk printing technology.

Riga-based defence tech startup Origin has secured €4 million in a pre-seed funding round to develop cost-effective, drone-launched precision-guided weapon systems.