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Oct
21
2016

Revolution in media industry attracts attention of LatBAN investors

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The monthly Investment Session of the Latvian Business Angel Network was held at the Riga Business School on Wednesday, October 19, where developers of six new projects met with Latvian business angels, hoping to win support for their business ideas.

The following projects participated in the October Investment Session:

  • Theme park Avārijas Brigāde (presented by Mārtiņš Brezauckis) – a theme park based on the popular Latvian animation offering a range of diverse outdoor entertainment attractions for families with children, to be built at the Tīnūži – Koknese road in Lēdmane County and set to open on April 28 next year,
  • Mobile app uSEND (presented by Aigars Šukots) – a modern, innovative solution for express mail and e-commerce, meant to make tracking a shipment significantly easier,
  • CityBee franchise in Riga (presented by Mārtiņš Bluķis) – user-friendly car rental service for short trips in Riga and in the vicinity of the city;
  • Si: Sana Candle (presented by Sigita Trukšāne) – granules for making candles that fit in any environment and interior, creating great mood and inspiration;
  • SevenHeven (presented by Andris Legzdiņš) – development of a network of second-hand clothing and footwear stores;
  • MarkUp SaaS (presented by Agnis Jakubovics) – a revolutionary service for measuring TV content and audiences in the media industry with the help of computer vision and artificial intelligence solutions.

Also presented at the session was, for a second time, the AntiChat project. The free game, created by Latvia-born Nikita Halavins, is the first anonymous messenger in the world that already is used by 1.1 million users a month, and the value of which already exceeds several dozen million dollars.

The MarkUP SaaS project, presented by Agnis Jakubovičs, attracted the greatest interest from investors at this month’s Investment Session, LatBAN Managing Director Aiga Kalbjonoka told the Labs of Latvia portal.

“In terms of investor voting results, it is evident that all the projects presented this month succeeded at convincing the investors that the product/service presented will meet prospective clients’ needs.

I also have to admit that this month again investors were the most critical about a given product/service’s sales strategies and ability to achieve the projected sales volumes,” commented Kalbjonoka.

The next business angels’ Investment Session will be on November 23 at 4 p.m., and new projects can apply for participation on the LatBAN website.

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 60 investors are members of the association.