Lithuanian startup AISPECO secures €1M in a seed funding round
12 October, 2022, 10:58
The Vilnius-based startup AISPECO has secured €1 million in a seed funding round to deliver geospatial monitoring systems. The Finnish Superhero Capital fund led the round, with the support from Capitalia and 70Ventures.
- Founded in 2014, AISPECO is manufacturing advanced geospatial platforms for helicopters, planes, UAVs, and terrestrial vehicles. Currently, AISPECO’s product is used by power line operators like Elia group, Manitoba Hydro, Geodigital, and others.
- One of its products is Aerie 500, a stationary safety and stability system. It combines LiDAR technology with hyperspectral, optical, thermal, gas detection and other sensors. The system is a fully autonomous, real-time early warning solution powered by AI.
“This is our first cooperation with a venture capital fund outside the Baltics. The interest from foreign venture capital funds regarding possibilities to invest in the Baltic companies is on the rise, and it is a nice indicator that the market is active and more foreign investments can be expected soon,”Capitalia’s Juris Grišins comments on the round.
- In total, Aispeco raised a little over €1 million in this financing round from the lead investor Superhero capital, 70Ventures, and Capitalia. Superhero Capital is an early-stage venture capital fund in the Baltics region. Earlier, Superhero invested in Cloud Factory, and Estonian 3D printing startup.
- Capitalia Co-Investment Fund is the leading backer for small and medium enterprises in the Baltics. 70Ventures is a Lithuanian revenue accelerator for early-stage B2B startups.
- The fresh funding will allow AISPECO to enter new markets and expand horizontally in different industries, like railway and gas pipeline inspections.