🚀 We are excited to welcome Memby to the Change Venture portfolio! We led Memby’s €800k pre-seed round and co-invested together with Europe’s leading EdTech fund, Brighteye Ventures, as well as angel investors Justas Janauskas (CEO of Qoorio; co-founder of Vinted), Martynas Gudonavicius (CEO of Trafi) and the Marius Jakulis Jason foundation.

What makes Memby stand out in the EdTech space?
Memby is the first one-to-many real-time after-school tutoring service in Europe. Their classes provide highly engaging group lessons, with techniques and metrics measuring behavioural, emotional and cognitive engagement of the students. …


Eurora Team

Eurora was not an obvious choice for the biggest investment to date from Change Ventures. Eurora’s team of 45 people, and an AI/ML engine built over the past two years through cooperation with TalTech and AI technology groups did not really signal Minimum Viable Product to us. However, deeper analysis of eCommerce market made us realize that all this was necessary to automatically and accurately from day one handle tens of thousands of transactions per hour for large Chinese clients like JD.com.

EU law change increased cross-border eCommerce declarations by 900%

Eurora’s 1-stop eCommerce tax and duty platform launch was timed to take advantage of the July 1st, 2021…


I met the founders at Login, Lithuania's technology conference, in 2016 and they told me about their early customer beachhead: evangelical churches in the USA. The churches wanted to attract parishioners beyond only those that speak English and the language barrier was huge. As weekly services, most could not afford to invest in expensive audio equipment and radio headsets needed to support existing simultaneous interpretation solutions. So Interactio's software-only app-based solution was ideal.

Did I think serving this market segment would be sufficient to build a massive company? Of course not. But it was a great example of the “grit”…


Our H2 2020 funding report is finally available on our website. The key conclusions from last year can be seen in the snapshot below.

The second half of 2020 saw a big drop in pre-seed funding rounds, even though total capital raised reached a record. The reduction in the number of seed deals is a combination of two effects — the larger pre-seed bridge and extension rounds in H1 2020 that were raised to survive the pandemic, and the increasing selectiveness of angel and pre-seed investors. Round sizes and valuations grew, meaning that the teams able to raise rounds did…


by Martin Vaivods, Change Ventures

The below is intended as advice for anyone engaging in capital transactions at any point in a company’s lifetime. It is based on my observations of a wide variety of international deals in the last decade. I believe that the recommendations are as valid for start-ups that are raising their first round of funding as they are for mature companies that are contemplating complex M&A transactions.

  1. Take time to prepare. Abraham Lincoln once said: “Give me six hours to chop down a tree and I will spend the first four sharpening the axe”. This adage…


leveraging stock options for startups

Big competitors have one major advantage over startups — they can almost always outbid startups in employee salaries and benefits. However, startups do have a powerful tool at their disposal for turning the tables on the giants and hiring top talent — stock options. Options are critical not only for hiring great team members, but also for retaining and motivating them over time when building and scaling the business.

Baltics are a model for the rest of EU

Baltic founders are fortunate because Estonia, Latvia and Lithuania are considered to be the top startup-friendly jurisdictions in the world when it…


- curated by Gabriele Poteliunaite, Change Ventures

💸 For all the founders that were trying to raise a round or break into the VC industry and had no idea what that twisted lingo that investors were dropping meant, whether a vesting period forces you to wear a down vest, or B2B stands for a back-to-back at your favourite boiler room set… you probably wish you had your hands on what we have prepared 🙌 .

Over the last months, the Change Ventures team have had numerous conversations about the challenges of entrepreneurs raising money from venture capitalists, particularly without a…


Fyma’s AI capturing foot count in a retail setting without compromising privacy

Change Ventures led Fyma’s €1.5M seed round in late 2020, joined by 7 Percent, Decacorn, Lemonade Stand, Tiny VC, existing investor Superangel and several angel investors. It’s time to reflect what led us to join the forces with powerful founder duo Karen and Taavi in their quest to make CCTV cameras smarter.

Let’s rewind the tape a bit. Did you know that the earliest CCTV camera was developed in Russia as early as 1927? The mechanical camera system consisted of a manually-operated scanning-transmitting camera and wireless shortwave transmitter and receiver, with a resolution of a hundred lines. …


INZMO founders Meeri and Risto

INZMO just announced their €3.1 million seed round led by Change Ventures, joined by Swiss Insurance giant Helvetia. It’s time to dissect the genesis of this deal.

Every now and then we meet founders with unquestionable drive and determination, but the problem they’re working on doesn’t support the VC scale return expectations. In these cases, we have to respectfully decline to invest, while at the same time hoping we could have another look if they happen to pivot to more substantial problems. This was the exact case with the INZMO founder duo Meeri and Risto. Their initial pitch in 2015…


As investors, we always place key emphasis on the team when making an investment decision. This is often one of the determining factors in a company’s success, and we feel the same about our team at Change Ventures. The diverse, knowledgeable, passionate and open-minded team is what makes us stand out, together with absolutely exceptional founders of our portfolio companies.

As Change Ventures is growing, our team has expanded with Gabrielė Poteliūnaitė joining us as an Associate in Vilnius, Lithuania. That means Change Ventures will finally (and literally) have all the boots on the ground in all three Baltic countries…

Change Ventures

Backing ambitious Baltic founders. We invest at pre-seed/seed in teams with the grit to build global businesses, bring a deep network and follow-on investment.

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