Backing Innovation in the Baltics: The VC Firms Shaping Lithuania’s Startup Scene

Mobile gaming discovery remains fragmented across Europe, with millions of players struggling to find titles that match their preferences in an oversaturated market of over 500,000 games. This challenge has created opportunities for innovative platforms that can bridge the gap between developers and players seeking personalised experiences. Paris-based Hoora has secured €1.1 million in funding to develop what it describes as ‘the TikTok for gaming’ – a platform designed to revolutionise how European mobile gamers discover new titles through social engagement and algorithmic recommendations. The round was led by Kima Ventures, the prolific French seed fund known for backing early-stage European tech companies across diverse verticals. The investment aligns with Kima’s strategy of supporting consumer-facing platforms that leverage social mechanics to solve discovery problems. Gaming discovery funding addresses European market fragmentation Kima Ventures’ decision to lead this gaming discovery funding reflects growing investor confidence in European gaming infrastructure startups. The fund, which has backed over 700 companies since 2010, typically invests €150,000 in promising seed-stage ventures with strong founder-market fit. “Mobile gaming discovery is broken, especially in fragmented European markets where localisation and cultural preferences create additional complexity,” explains the investment thesis behind the round. European mobile gaming generated €12.8 billion in revenue in 2024, yet discovery remains dominated by app store algorithms that favour established publishers over innovative indie developers. The funding round’s structure suggests Kima Ventures sees potential for Hoora to capture significant market share in the European mobile gaming ecosystem, where social discovery platforms have historically struggled against established players. Social gaming platform targets creator economy integration Hoora’s platform combines short-form video content with gaming recommendations, allowing users to discover titles through community-generated content rather than traditional advertising or app store browsing. The approach mirrors successful social commerce models but applies them specifically to gaming discovery. The startup plans to use the €1.1 million primarily for product development and initial market expansion across key European gaming markets including Germany, the UK, and the Nordics. This geographic focus acknowledges the diverse gaming preferences across European countries, where local culture significantly influences mobile gaming adoption patterns. “We’re building the infrastructure that will connect game developers with their ideal audiences through authentic social interactions,” the company states regarding its vision for reshaping mobile game discovery mechanisms. The platform’s creator economy elements could prove particularly relevant in European markets, where content creators increasingly seek monetisation opportunities beyond traditional social media platforms. European gaming creator economy has grown 340% since 2021, creating demand for specialised platforms. This funding positions Hoora within a growing ecosystem of European gaming infrastructure companies that are challenging Silicon Valley dominance in gaming technology, suggesting potential for broader European leadership in gaming innovation.

The European instant payments landscape is experiencing unprecedented acceleration, driven by regulatory mandates that are reshaping how financial institutions approach account-to-account transactions. Against this backdrop, Madrid-based fintech Devengo has secured €2 million in pre-Series A funding, positioning itself at the forefront of Europe’s payments infrastructure revolution. The round attracted significant banking sector interest, with established financial institutions recognising the strategic importance of next-generation payment solutions. Banking giants back instant payments infrastructure as Devengo raises €2 million The funding round was notably led by traditional banking powerhouses, with Bankinter, Demium, and Banco Sabadell participating as key investors. This unusual configuration—established banks funding a fintech challenger—signals a strategic shift in how European financial institutions approach innovation partnerships. Rather than viewing fintechs as threats, these banks are positioning themselves as enablers of the payments transformation mandated by EU regulation. “The convergence of regulatory pressure and market demand creates an unprecedented opportunity for infrastructure players,” explains a source familiar with the investment thesis. “Banks need partners who understand both the technical requirements and compliance frameworks of instant payments.” Devengo’s ability to attract funding from incumbent institutions suggests its technology addresses genuine infrastructure gaps rather than merely offering consumer-facing innovation. EU regulation drives account-to-account payment innovation across fragmented markets The timing of Devengo’s raise coincides with the European Union’s accelerated push towards instant payments adoption, creating tailwinds for specialised infrastructure providers. Unlike the relatively uniform US market, European payment systems must navigate 27 different regulatory environments while maintaining seamless cross-border functionality. This complexity creates opportunities for companies that can abstract away regulatory compliance whilst providing robust technical infrastructure. Devengo’s focus on account-to-account payments positions it within a rapidly expanding segment of European fintech. The company’s platform enables businesses to integrate instant payment capabilities without the traditional overhead of banking partnerships or complex compliance procedures. This approach resonates particularly strongly in Southern European markets, where traditional banking relationships often impede fintech adoption. The €2 million injection will primarily support product development and regulatory compliance initiatives across multiple EU jurisdictions. “We’re building infrastructure that makes instant payments as simple as sending an email,” notes the company’s strategic direction, reflecting broader European fintech ambitions to democratise financial services access. For Europe’s fintech ecosystem, Devengo’s successful raise demonstrates continued investor appetite for infrastructure plays, particularly those aligned with regulatory momentum. As instant payments become mandatory rather than optional across EU member states, companies positioned at the infrastructure layer stand to benefit from sustained demand growth driven by compliance requirements rather than market preferences alone.

As Europe races to meet its 2030 renewable energy targets, innovative solar technologies are attracting serious investor attention across the continent. The latest validation comes from Cambridge, where Cambridge Photon Technology has secured €1.8M (£1.56M) in funding to advance its breakthrough solar panel efficiency solutions—a timely boost as European manufacturers seek competitive advantages against Asian dominance in photovoltaics. The funding round, led by Cambridge Enterprise Ventures, signals growing confidence in next-generation solar technologies that could reshape Europe’s green energy landscape. With solar installations across the EU projected to reach 750GW by 2030, efficiency improvements aren’t just desirable—they’re essential for meeting climate commitments whilst reducing dependency on imported panels. Solar technology funding attracts strategic European investors Cambridge Enterprise Ventures’ investment thesis centres on deep-tech innovations that can scale across European markets. The Cambridge-based fund, with its track record in university spin-outs, recognises the commercial potential of advanced photonic solutions in the rapidly expanding solar sector. This funding pattern mirrors broader European VC activity, where climate tech investments reached €9.8B in 2024. “We’re seeing unprecedented demand for technologies that can meaningfully improve solar panel performance,” notes the investment team. “Cambridge Photon Technology’s approach addresses real bottlenecks in current photovoltaic efficiency—exactly the kind of deep science that European manufacturers need to compete globally.” The investor’s portfolio strategy reflects Europe’s strengths in fundamental research translated into commercial applications. Unlike Silicon Valley’s software-first approach, European climate tech investors increasingly back hardware innovations that leverage the continent’s manufacturing heritage and research excellence. Photonic innovation targets European solar manufacturing Cambridge Photon Technology’s solution addresses a critical challenge facing European solar manufacturers: how to differentiate premium products in a cost-driven market dominated by Asian producers. The company’s photonic enhancement technology promises efficiency gains that could justify higher pricing whilst delivering superior energy yields for European customers. The funding will primarily fuel product development and initial market validation across key European solar markets—Germany, Spain, and Italy—where premium efficiency commands significant price premiums. This geographic focus acknowledges Europe’s fragmented regulatory landscape whilst targeting markets with established feed-in tariffs and renewable energy incentives. “European solar installations demand the highest efficiency standards,” explains the company’s leadership team. “Our technology enables European manufacturers to compete on performance rather than pure cost—playing to our continent’s traditional strengths in precision engineering and advanced materials.” The timing aligns with emerging EU regulations favouring locally-produced renewable energy equipment, creating potential regulatory tailwinds for European solar technology companies. With Brussels increasingly focused on strategic autonomy in critical technologies, innovations that reduce import dependency carry additional strategic value. This funding round positions Cambridge Photon Technology within Europe’s growing ecosystem of advanced solar innovators, signalling that the continent’s response to Asian manufacturing dominance will be built on technological superiority rather than cost competition alone.