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About Buildit

Buildit, an accelerator and incubator program founded in 2013, is based in Riga, Latvia. With a presence in 10 countries, it has supported around 72 startups in sectors like High Tech, Retail. As of Oct 2026, Buildit has witnessed 1 portfolio exit. Most notable companies in its portfolio include Striga, HackMotion and Velmenni. The program is backed by a team of 6 people who primarily support Seed startups based in Latvia. Its latest investment was a $1.01M Seed round in Cellbox Labs on May 13, 2024, which also saw participation from LatBAN and ASP Asset Management.
Key Metrics
Founded Year
2013
Location
Riga, Latvia
Portfolio Companies
Sectors of Investment
Stages of Investment
Seed
Locations of Investment

Buildit's List of Top Investments

Buildit has a portfolio of 72 companies. Their most notable investments are in HackMotion and Cellbox Labs.Their portfolio spans across Latvia, Estonia, United States and 7 more locations. They have invested in High Tech, Retail, Enterprise Applications and 30 other sectors, across stages such as Seed stage. Here is the list of top investments by Buildit:
Online platform enabling businesses to offer crypto-based banking services. It is a platform with a single set of APIs that gives users access to Bitcoin, lightning account creation, management and tying it to mainstream European payment instruments – IBANs, cards and more.

Key facts about Striga

  • Founded Year: 2017
  • Location: Tallinn (Estonia)
  • Annual Revenue: €0 - €1M as on Dec 31, 2022
  • Stage: Acquired
  • Total Funding till date: $125K
  • Employee Count: 6 as on Sep 30, 2026
  • Investors: Fulgur Ventures, Kube VC and 7 Others
  • Latest Funding Round: Seed, 2021, $*****
  • Highlight: Acquired
HackMotion is a provider of wearable motion capture solutions for applications in sports. The product line includes wrist angle sensors for golf and kinetic sensors for shooting. The wrist angle sensors are based on inertial measurement units and come with a built-in accelerometer, gyroscope, magnetometer & an advanced sensor fusion algorithm that allows real-time reconstruction of 3D wrist model with 200 frames per second and a resolution below one degree to accurately reproduce the entire swing routine. The kinetic shooting sensor uses 3D tracking technology for tracking the movement trajectory, speed, and acceleration of all joints of the hand. Both the products work in integration with a companion software for processing the bio-feedback to ensures rapid improvement after 10 -20 practice shots. Other use cases are in the areas of skydiving and snowboarding. The company is a graduate of two accelerator programs namely Buildit Hardware Accelerator in Estonia and Startup Sauna in Finland.

Key facts about HackMotion

  • Founded Year: 2016
  • Location: Riga (Latvia)
  • Annual Revenue: €1M - €10M as on Dec 31, 2024
  • Stage: Seed
  • Employee Count: 26 as on Sep 30, 2026
  • Investors: Prototron Fund and Buildit
  • Latest Funding Round: Seed, Nov 01, 2016, $*****
  • Highlight: Editors' Pick
Developer of wireless data transmission systems using light spectrum technology. This technology utilizes visible and infrared light to transmit data, providing an alternative to radio frequency communication. The systems facilitate wireless connectivity in environments where radio frequency signals are restricted or subject to interference. Applications include indoor wireless networks, industrial machine communication, and backhaul infrastructure for telecommunications. The hardware transmits data through light waves, enabling connectivity in settings such as manufacturing plants, hospitals, and transportation vehicles.

Key facts about Velmenni

  • Founded Year: 2014
  • Location: Delhi (India)
  • Annual Revenue: 0 - ₹10 Cr as on Mar 31, 2025
  • Valuation: $*****
  • Stage: Seed
  • Total Funding till date: $3.91M
  • Employee Count: 2 as on Jan 31, 2026
  • Investors: Cisco, Airbus Official and 10 Others
  • Latest Funding Round: Seed, Mar 17, 2026, $*****
  • Highlight: Editors' Pick
Provider of coating solutions for PVD equipment. It offers coating solutions for electrical stability, anti-corrosion, catalysts for fuel cells, electrolyzers, sensors, shielding, activated powder, materials for additive manufacturing, anodes, cathodes, insulation, low friction, wear resistance, and thermo-barriers for components.

Key facts about Naco Technologies

  • Founded Year: 2020
  • Location: Riga (Latvia)
  • Annual Revenue: €0 - €1M as on Dec 31, 2024
  • Stage: Seed
  • Total Funding till date: $13.9M
  • Employee Count: 18 as on Sep 30, 2026
  • Investors: EIC Fund, Radix-Vc and 7 Others
  • Latest Funding Round: Seed, Jan 15, 2025, $*****
  • Highlight: Editors' Pick

5. Asya

Provider of AI solutions, software development, design, and R&D consulting. The company focuses on software product prototyping for manufacturing, high tech research and development, and mobile application development. Services include pre-market research, talent training, process review, and novel model development. They offer UI/UX design, prototyping, illustrations, and motion design.

Key facts about Asya

Buildit's Investments by Stage

Buildit has made 9 investments in Seed stage with an average round size of $376K.

Buildit's Investments by Sector

Buildit has a diverse portfolio, with companies operating in the High Tech, Consumer, Internet of Things - Industry Applications, Retail and Telecom. Notably, it has invested in 48 Tech companies, 31 Enterprise (B2B) companies, 30 Consumer (B2C) companies and at least 26 companies focusing on Tech hardware.
Here are Buildit's investments by sector:
Sector
No. of Investments
High Tech
3
Consumer
2
Internet of Things - Industry Applications
2
Retail
2
Telecom
2
Others
7
Breakdown of Buildit's investments by sectorsHigh Tech (3)Consumer (2)
Note: We have considered here, only first round of investments

Buildit's Investments by Geography

Buildit has made most investments in Latvia (4), followed by Estonia where it has made 2 investments.
Here are Buildit's investments by geography:
Country
No. of Investments
Latvia
4
Estonia
2
Germany
1
India
1
United Kingdom
1
Breakdown of Buildit's investments by countriesLatvia (4)Estonia (2)
Note: We have considered here, only first round of investments

Buildit's recent investments

Buildit has not made any investment in 2026 so far.
Here are the most recent investments by Buildit:
Date
Company
Location
Round Details
Round Amount
Co-Investors
May 13, 2024
Latvia
Seed
1858
  [+2]
Oct 23, 2023
Latvia
Seed
7770
-
2021
Estonia
Seed
8584
-
May 27, 2020
United Kingdom
Seed
9196
-
Feb 21, 2019
Latvia
Seed
9179

Acquired companies in Buildit's Portfolio

1 company from Buildit's portfolio has been acquired. The most recent acquisition was Striga in Oct 2025 by Lightspark for $*****.
Here are Buildit's portfolio companies that got acquired most recently:
Company
Acquisition Date
First Invested on
First Round of Investment
Round Size
Oct 14, 2025
-
-
4950

Team profile of Buildit

Buildit has a team of 6 members including 3 Partners and 1 Principal located in Latvia and Estonia. Buildit's team does not sit on the board of any company as of now.
Here is a list of all team members in Buildit:
Name
Designation
Location
Board Memberships
Contact Details
Partner
Tartu
-
Partner
Latvia
-
Partner
Latvia
-
-
Principal
Tartu
-

Co-investors of Buildit

Over the past 12 years, 15 investors have co-invested in Buildit's portfolio companies. This includes funds and angels.

  • Invested before Buildit: Prototron Fund has invested before Buildit.
  • Top Co-investors of Buildit: 6 investors entered a company along with Buildit. These include investors like Change Ventures (1 company).
  • Invested after Buildit: A total of 8 investors have invested in Buildit's portfolio after their investments. Top Investors include Rosmerta Technologies (1 company) and Ministry of Defence (1 company).

Recent News related to Buildit

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