Back
Jun
03
2016

EUR 100,000 investment for Latvian startup Dripit in Finland

Latvian startup project Dripit.io has been named the Superhero at the Startup Sauna accelerator, winning EUR 100,000 investment from the Finnish venture capital fund Superhero Capital.

Dripit.io is a solution that helps e-commerce business owners understand which marketing solutions will produce long-term benefits or high customer lifecycle value.

This is achieved with the help of game theory and mathematics – as a result, marketing budget waste can be reduced by up to 75 percent.

Dripit.io was founded by Kristaps Taube, Normunds Vilciņš and Ernests Štāls (pictured). They announced establishing the new startup this past January.

Štāls is also one of the founders of TechHub Riga and the founder of his previous startup project Reach.ly whose failures, as Štāls puts it, helped him come to several important realizations.

“Superhero Capital’s major experience and network of contacts is a good addition to our team. With this investment, we can now focus on product development and increasing the customer base of our pilot project,” Ernests Štāls commented to Dienas Bizness.