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Last week, Latitude59, Estonia’s flagship tech conference, drew over 3,500 attendees from 70+ countries to Tallinn. Breaking with tradition, Latitude59 awarded equal victories to three Baltic startups, who secured a combined €675,000 in investments through a new cross-border angel network collaboration.
A cross-border success story
This year’s competition was a big win. The three countries’ angel investor networks—EstBAN (Estonia), LatBAN (Latvia), and LitBAN (Lithuania)—joined forces to create syndicated investments, with each network leading the investment in one startup while participating in the others.
“The cooperation between the business angel networks of Estonia, Latvia, and Lithuania reflects our shared commitment to fostering innovation across the region,” said Liisi Org, CEO of Latitude59. Who won in the new format?
Luna Robotics, a Lithuanian defence technology company, secured the largest investment package of €250,000, led by LitBAN. The company specialises in affordable night vision technology designed specifically for unmanned vehicles and drones.
Their flagship product combines low latency, high-quality video feeds with invisible infrared technology using high-power 850nm emitters. The system includes smart onboard software that enhances images in real-time for optimal visibility in low-light conditions, with every iteration undergoing rigorous battle testing for proven effectiveness.
But their controllable infrared output system can be managed via standard drone remotes, making it accessible for various applications beyond military use.
Latvian construction technology startup Adventum Tech also received €250,000 in funding, with LatBAN leading the syndicate. The company has spent four years developing wireless real-time monitoring solutions for the construction industry.
Their system can track everything from concrete curing and structural loads to soil stability and vibration impact. The flagship SlabControl 5.0 system provides real-time insights into concrete’s curing process, monitoring temperature, vibration, and structural integrity to identify potential issues before they become critical problems.
Estonian green energy solutions developer MarkeDroid received €175,000 from EstBAN’s syndicate. The company has created an AI-powered energy management system that transforms homes into intelligent power plants.
It works with existing solar installations and can be set up in just 10 minutes. The system makes hourly decisions on whether to buy, sell, or store energy based on market prices, weather forecasts, and individual consumption patterns. This optimisation helps homeowners save up to 50% on energy costs beyond their existing solar savings. With such an appealing offering, the company has already seen significant traction, currently operating in 12 European countries.
New horizons
Latitude59 is much more than a single competition, packing a dense schedule of keynote speeches, workshops, and networking events. The 2025 edition put a spotlight on the emergence of defence and DeepTech as driving forces of innovation in Estonia and beyond.
“The landscape is changing. 2–3 years ago, it was difficult to find funds that would back military technology,” Joonas Vänto, Director of Invest Estonia, said on stage. Today, he noted, it’s the other way around, with increased demand on the funding side. “There’s no competition,” Vänto emphasised. “The biggest investor interest comes from the defence sector. Besides home-grown projects, international companies are also coming to Estonia to establish their presence, and we are doing our best to help them,” he said.
A similar notion was reiterated by the President of Estonia, Alar Karis, in his opening remarks, where he emphasised that the wise use of data can lead to smarter public decision-making, automate processes, and deliver better outcomes. “This is not about giving up our privacy. It is about being smart, secure, and respectful of our rights as we modernise the way we govern. And while we imagine how technology can improve our daily lives, let us also ask: how can technology be used to increase our sense of security? How can digital innovation contribute to a stronger, more resilient Europe?” he asked.
“A global hub for defence innovation”, says a headline on the cover of the latest issue of “Life in Estonia” magazine, which met visitors arriving at Latitude59. Estonian companies are indeed setting the trends, from AI-powered surveillance systems developed by DefSecIntel Solutions to precision optics engineering at HEVI Optronics. And international players like Helsing are choosing Estonia as their production hub, recognising the unique combination of digital infrastructure, tax benefits, technical talent, and strategic location that the country offers.
Yet the progress isn’t confined to one sector, and the industry continues to tackle long-standing issues. The Baltic ecosystem, led by Estonia, is ready for positive changes — in the last year, both the number of female board members and female CEOs has risen by almost 15%, said Madis Lehtmets, Managing Director of EstVCA.
Excited to join the next innovation wave? Don’t miss next year’s Latitude59 and secure your spot now.
