On Wednesday, January 18, the Latvian Business Angel Network (LatBAN) held its monthly Investment Session at the RTU Riga Business School, where six new projects had a chance to meet with Latvian business angels willing to support the new business ideas.
The following projects participated in the January Investment Session:
- Paych (presented by Maiko Arras) – an all-embracing restaurant app developed in Estonia
- Animals Life (presented by Marks Barkans) – online platform to care for and watch animals in animal shelters
- eHarvest (presented by Akmalidin Alimov) – innovative bicycle-powered USB charger that accumulates energy generated by a dynamo for charging any device
- kurp.es (presented by Gustavs Upmanis) – platform for selecting and recommending events, with the opportunity to also sell tickets in the future
- MyNutriPower (presented by Sandija Šplīta) – a tasty and healthy takeaway muesli distributed through filling stations
- Deeply Personal (presented by Solveiga Grīsle) – a women’s fashion brand developed in Latvia that has already attained international acclaim and received its first orders from Asian and C.I.S. markets.
According to LatBAN Executive Director Aiga Kalbjonoka, the results of the first Investment Session this year suggest that some of these projects have a good chance of receiving investment.
Projects eHarvest and My NutriPower attracted the greatest investor attention this month, but the Deeply Personal project, presented by Solveiga Grīsle, was the undisputed leader – 90 percent of investors said they were confident that the project’s team would successfully attract investments.
The next LatBAN Investment Session will be held during the TechChill conference, it will take place at the Latvian National Library on February 9 at 5 p.m. During the event, 10 business projects will be presented that have been selected with the help of mentors from Startup Sauna and Startup Wise Guys.
In the meantime, business projects are offered to sign up for the LatBAN March Investment Session by submitting their applications on the LatBAN website until February 27. The selection round will be on March 3, while the Investment Session will take place on March 16.
So far LatBAN has received more than 450 project applications, over 170 projects have participated in the Investment Sessions, and 23 projects in different industries have received investment. The total amount of investment is over EUR 1.95 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 65 investors are members of the association.