“This year has been difficult for everyone, and that’s why we saw the need to bring the people in the startup community together – not only physically, but also to give international entrepreneurs and investors the opportunity to participate online,” said Maarja Pehk, CEO of Latitude59.
EstBAN’s double investment of EUR 200,000 went to early-stage startups from Estonia, Adact and ATOM Mobility from Latvia. Adact allows agencies to create interactive online marketing campaigns without writing a single line of code. ATOM Mobility is an all-in-one solution for shared mobility that helps entrepreneurs launch their own vehicle distribution platforms in 20 days.
By Kristjan Raude, a leading investor and a member of the Board of EstBAN, the winners were selected from 250 companies. “It really wasn’t an easy task – we went through a bunch of company profiles, 50 video presentations, investor meetings and several hours of interviews with the finalists. The result was that we selected the top two early start-ups and invested a total of € 400,000,” Raude said.
Anu OksEstBAN, CEO of the Estonian Business Angel Network, said that the crisis in Estonia and the rest of the world did not seem to affect investors’ interest in investors. He added that the sum of the investment rounds of both winning companies was collected without much effort. This shows that both investors and startups are doing despite the situation.
The € 10,000 prize money presented by Latitude59 was awarded to ATOM Mobility. In addition, Cloudvisor, Hedman Partners and UMA Maakri also presented their awards to startups.
Latitude59 is Estonia’s flagship startup and technology collection. In 2020, the event took place both in person in Tallinn and online, with almost 2,000 participants from 51 countries. Over the course of two days, 50 international speakers took the Latitude59 stage, 200 startups and 300 investors from Estonia and elsewhere. For the first time, Latitude59 offered online mentoring for beginners, and 130 online sessions were held with experts from around the world.
HT
Image: Latitude59
Source: The Nordic Page