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.
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:
1. Striga
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
2. HackMotion
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
3. Velmenni
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
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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
- Founded Year: 2018
- Location: Riga (Latvia)
- Stage: Seed
- Total Funding till date: $136K
- Employee Count: 27 as on Sep 30, 2026
- Investors: Change Ventures, StartersHub and 2 Others
- Latest Funding Round: Seed, Feb 21, 2019, $*****
Buildit's Year-on-Year Investment Trends
Buildit has invested in 72 companies over the last 12 years, with an average of 1 new investment annually in the last 10 years. Its most recent first time investment was in Cellbox Labs and most recent follow-on round was in Monatek.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 1 | 0 | 1 |
2023 | 1 | 0 | 1 |
2022 | 0 | 0 | 0 |
2021 | 1 | 0 | 1 |
2020 | 1 | 0 | 1 |
2019 | 1 | 0 | 1 |
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.Sector | No. of Investments |
|---|---|
High Tech | 3 |
Consumer | 2 |
Internet of Things - Industry Applications | 2 |
Retail | 2 |
Telecom | 2 |
Others | 7 |
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.Country | No. of Investments |
|---|---|
Latvia | 4 |
Estonia | 2 |
Germany | 1 |
India | 1 |
United Kingdom | 1 |
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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Latvian biotech Cellbox Labs raises €935k in a pre-seed roundAIN.Capital•May 13, 2024•Cellbox Labs, Buildit
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Startup Solu raises USD 1.3 million in seed fundingGoodNewsfromFinland•Aug 25, 2015•Solu Machines, KSVFinland, Buildit
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Stealthy Hardware Startup Solu Bags $1.3M SeedTechCrunch+•Aug 17, 2015•Solu Machines, KSVFinland, Buildit
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Smart home startup Comfee raises €125 000 - ArcticStartupArcticStartup•Jul 28, 2015•Jalousier, Buildit, CBA Startups, Estonian Business Angels Network
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Kristoffer Lawson's Solu raises six figures for the future of work - ArcticStartupArcticStartup•Nov 17, 2014•Solu Machines, Buildit
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