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Sep
22
2016

LatBAN September Investment Session’s favorite – Trace shooting performance system

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This month’s Investment Session was held at the Riga Business School on Wednesday, September 21, during which business projects selected by experts had the opportunity to meet with investors from the Latvian Business Angel Network (LatBAN) – business angels who may decide to help these projects take off.

The following business projects participated in the September Investment Session:

  • Anatomy Next (presented by Sandis Kondrats) – web and augmented reality platform for anatomy studies;
  • Landboard City (presented by Artis Daugins) – electric skateboard or ‘’landboard’’ Boards Unlimited made up of one self-balancing board and one wheel in the middle;
  • TownEscape (presented by Jaroslavs Conda) – mobile game based on GPS location, which transforms the surrounding environment into a virtual playground;
  • Agility Sports (presented by Mārtiņš Marenis) – innovative hockey training system, which allows athletes of all levels plan and conduct their training, as well as analyze it afterwards;
  • Laaen (Russia; presented by Aleksander Chepel) – decentralized corporate platform for storing data on cloud storage usingblockchain technologies and its own P2P protocols;
  • Trace (presented by Valērijs Silins) – system that provides shooters with comprehensive analysis about their shooting performance.

As LatBAN executive-director Aiga Kalbjonoka told the Labs of Latvia portal, this month’s investment session can be described as a successful one, as all six business projects were able to attract the attention of investors, with the greatest interest in Trace and Boards Unlimited.

“The Trace shooting analysis system attracted the greatest interest from investors thanks to the results the project has already achieved in a relatively short period of time, as well as the client demand the project already has,” she said.

“Summarizing the voting results from the investors, it is believed that half of the projects presented in this session could receive investments, and that these projects received praise from the investors due to the ability of their teams to achieve their business goals,” Kalbjonoka added.

The next LatBAN investment session will take place on October 19, and new project can apply on the LatBAN homepage.

So far the association has received more than 400 project applications, over 150 projects have participated in the Investment Sessions, and 20 projects in different industries have received investment. The total amount of investment is over EUR 1.6 million.

The Latvian Business Angel Network association was established on April 29, 2014 with the goal of expanding and developing the network of business angels in Latvia, as well as to support new, promising projects. Currently 59 investors are members of the association.