On Thursday, August 25, at the Riga Business School, the August session of the Investment Session of the Latvian Business Angel Network (LatBAN) took place, where seven new projects met with Latvia’s business angels who might help with the implementation of these business ideas.
The following projects participated in the August investment session:
- Lastmin.lv (presented by Artūrs Mednis) – on-line platform which has information from servers of tourism operators integrated onto it; it is a unique travel aggregate made up of offers from various tourism operators;
- HUG U from the Distance (presented by Ivo Rollis) – new and innovative sensory product, which allows the formation of a special emotional connection between parents and their children;
- Smaržas.Club (presented by Raimonds Ozoliņš) – a new but already functional on-line perfume and cosmetics store, where only original and high-quality products can be purchased;
- Dusis (presented by Līga Ansone) – manufactures and sells modern and ergonomic portable chaise longues Dusis, which is ideally suitable for relaxation after a hard day of work;
- ShopIQ (presented by Gatis Veikšins) – a modern and high-quality solution for on-line shops, starting from EUR 50 per month;
- Ernest (presented by Artūrs Pumpurs) – unique Bluetooth and GPS solutions, which in one application allows users to protect/monitor all of their motorized transportation vehicles, as well as control their electronic gates at home/garage;
- PokerArt (presented by Egija Gailuma) – the world’s first “smart” home poker set, which will revolutionize this everlastingly popular card game.
As LatBAN executive director Aiga Kalbjonoka tells the Labs of Latvia portal, six of the seven products presented in this month’s investment session attracted the interest of investors, with the most popular – the unique tourism platform LastMin.
“I must admit that the investors were pleasantly surprised with this month’s presentations, as almost all of them were deemed of good quality. The investors also admitted that five of the presented projects are in accordance with clients’ needs, and predicted that at least half could receive investments,” Kalbjonoka said.
The next Investment Session will be on September 21. New projects can submit their applications on the LatBAN web-site.
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 in April 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.