The pulse of Latvian startup scene: Week #24

MolPort and AirDog raised funding, InSelly selected for Startup Sauna tour to Silicon Valley and some more exciting news this week. Relive week #24 with #LVstartups: 

MolPort raises half a million to get molecules delivered

Global chemical compound marketplace MolPort has raised €500,000 from Imprimatur Capital and FlyCap. Molport already has 9 out of 10 world's leading chemical universities as their clients. Moreover, research institutes, biotechnology and pharmaceutical companies from 65 countries are already buying compounds from more than 25 million titles in MolPort database.

Read more on ArcticStartup

InSelly among top 6 Startup Sauna startups going to Silicon Valley

It was already a huge success when world's first marketplace for Instagram InSelly got accepted to the most competitive bath in Startup Sauna history, surpassing over 500 teams. Now they are proud to be among best 6 startups from this batch selected for a trip to Silicon Valley. 

Read more about Startup Sauna and who else is in top 6 here

AirDog attracted additional €460,000 on AngelList

Following an overly successful Kickstarter campaign last summer and a $2 million seed round this March, AirDog has now raised another €460,000 in just 2-3 weeks on AngelList. 

At TechHub Riga meetup this week Agris Kipurs shared practical insights about their fundraising process. He noted that Skype calls don't work for Silicon Valley and that you have to physically be there to raise funds, revealed that they only negotiated terms with the lead investor, while everyone else had to take it or leave it and urged other startups to go for a valuation that will fill the round, not the highest offer. 


Three Latvian startups pitched at Forbes Equity Club in Tallinn

#LVstartups Edurio, Koatum and BranchTrack pitched at Forbes Equity Club event for business angels in Tallinn. Over 30 angels from LatBAN and EstBAN, as well as investment funds, attended the event. 

Find out more about the event here

TechHub Riga now accepts freelance developers and designers

This week Riga's biggest and oldest coworking space for tech startups announced they are #GrowingTheTribe. The hashtag campaign stands for TechHub Riga opening up to accept freelance developers and designers as members, even though they may not be working in a startup.

As TechHub Riga chairman Ernests Stals explained at TechHub Riga meetup this week, TechHub Riga decided to #GrowTheTribe of like-minded people, and even if they are great people not (yet) involved in startups, being part of the community and helping each other, they may actually join or  found another startup. 

Are you an #LVstartup raising money? 

Uldis Leiterts once said that #LVstartups that don't talk about money don't raise any. We are here to help you to speak up. If you are raising funds to build an amazing startup, write to us this week and be included in out #dealflow overview on ArcticStartup