Latvian aviation parts manufacturer AM Craft raises €600k in a pre-seed round

The Riga-based aviation parts manufacturer AM Craft has announced to AIN the closure of its €600,000 pre-seed funding round led by Change Ventures, with the participation of BADideas.Fund. The company also launched its first network manufacturing partner location in Dubai.

About AM Craft

  • Co-founded by Didzis Dejus and Janis Jatnieks, AM Craft is an EASA authorized Part 21G aviation supplier that leverages expertise in polymer additive manufacturing, design, airworthiness certification, and a distributed production network to provide end-to-end service to aviation customers. The distributed production network of AM Craft is located in Riga and now, also includes a manufacturing hub in Dubai.

Together with our manufacturing partner, Paradigm 3D, we will be able to produce certified parts exactly where they are needed by our customers. AM Craft has enabled Paradigm 3D to become the first facility in the Middle East capable of producing 3D-printed parts that adhere to stringent aerospace-specific regulations and can be delivered with an EASA Part 21G airworthiness certificate. As the next step, we aim to qualify locations in Central Europe, South–East Asia and eventually also the USA,

Janis Jatneiks, co-founder and Chief Commercial Officer of AM Craft, commented.

Investment details

  • The fresh funding round was led by the Tallinn-based venture capital firm Change Ventures that supports Baltic founders in Estonia, Latvia, Lithuania, and the diaspora around the globe. Its investments range between €100,000 and €500,000 in a pre-seed stage technology startups.
  • BADideas.Fund, an angel investor syndicate investing €50-€150,000 tickets in post-MVP startups in CEE, also joined the investment. Earlier, the firm supported the €500,000 funding round for the Lithuanian toy subscription service Liledu.

The AM Craft team has secured a very hard to get certification, EASA Part 21G, to enable
them to deliver certified, flight-worthy parts for airlines, MROs and manufacturers. After evaluating an investment over some time, it became clear that they understand the industry very well and have a vision for how to adapt it to a new world where additive manufacturing can provide fast, flexible and cost-effective delivery of parts worldwide. Dubai is just the first step in the journey to build a global network,

Andris K. Berzins, partner at Change Ventures, said.