European Healthtech Venture Builder
Are you curious about what drives the growth of the healthcare technology industry? Do you want to understand the state of digital adoption and discover the next big healthcare tech company in Europe? 4PM Ventures is excited to share the findings of our in-depth research on the Baltic healthcare technology market. In this report, we offer insights into the current and future landscape of technology in European healthcare, and we highlight key innovations within the Health Tech market in the Baltic region.
Exploring the Methodology:
For a detailed look at how we mapped the healthcare ecosystem, please refer to the RESEARCH section of this site.
Evolving Research:
As the healthcare ecosystem changes, our research is continuously updated. We are committed to improving our map’s structure and adding more details, especially where multiple companies operate in the same sector. If you notice a missing category or have a suggestion for a new one, please reach out to us at hello@4pmventures.com. Your input is important and will be considered in our ongoing research.
Mapping Market Participants:
Our map isn’t a complete list of all startups and participants in the Health Tech market. Instead, it reflects our view of the market segments and the players we identified in our research. This version of the Baltic Health Tech Map has been compiled from public sources. If you are included on the map but haven’t filled out our survey form, we encourage you to do so to clarify or update the data we have. If you believe you should be on the map but aren’t, we invite you to take part in our research by completing the survey form.
Regular Updates:
We are committed to keeping our map accurate and up-to-date. If you want to add your startup or identify yourself as part of the innovation ecosystem—whether as an investor, accelerator, customer, or service provider—please fill out the short form provided above. If you need to correct or update your organization’s information, fill out the same form provided above or contact us at hello@4pmventures.com.
Support Our Research:
If you would like to support our research, you can contribute using the following details:
Thank you for your interest in healthcare technology and for joining us in exploring the latest advancements in the Baltic Health Tech sector. We look forward to your continued support and involvement in this exciting journey.
SmartOmica (Latvia, Riga)
We design, build, and deliver comprehensive methodology to personalize each patients’ profile through in-depth AI-based data analytics and translate the results to clinically applicable language in order to make it a practical tool for dedicated medical practitioners.
Year of foundation: 2020
SkinPort (Latvia, Jūrmala)
SkinPort microneedle array is a painless alternative to hypodermic steel needles that are being used for injecting drugs. SkinPort microneedles operate in the upper layers of skin while not reaching blood vessels and nerves, which makes injections with Skinport painless. Skinport Microneedles have the potential to become a highly progressive device for both drug delivery and monitoring purposes as they penetrate the skin, allowing the delivery of drugs in the upper skin layers and the extraction of body fluids.
Year of foundation: 2021
SmartClast (Latvia, Riga)
The “SmartClast” is a startup that develops an innovative technology of personalized bone grafts. SmartClast technology makes the rate of bioresorption of the bone graft adjustable in accordance with the individual characteristics of each patient.
Year of foundation: 2021
DoctoWell (Latvia, Jūrmala)
A fully integrated platform for clinic operational efficiency improvements and patient-specialist communication.
Year of foundation: 2020
CastPrint (Latvia, Riga)
CastPrint is the missing link for hospitals to introduce 3D printing technology in their daily operations. By reducing patient treatment time by 1/3 and saving more than 15% in labour hours on each patient, CastPrint allows hospitals to offer patients with cutting-edge treatment of fracture trauma. Unlike traditional plaster casts which are heavy, itchy and unhygienic, CastPrint’s 3D printed casts are light weight, waterproof and comfortable to wear, enabling patients to enjoy an active and fulfilling recovery from their injuries.
Year of foundation: 2016
Assistentis (Latvia, Valmiera)
Implementing new technology based solutions in Healthcare organisations.
Year of foundation: 2013
Longenesis (Latvia, Riga)
Longenesis makes data discovery and patient engagement easier for biomedical institutions, patient organisations and research sponsors. Our products empower hospitals, doctors, and researchers to communicate directly while providing compliant and consent-enabled biomedical data curation and generation.
Year of foundation: 2019
Sepsiscan (Latvia, Riga)
Technology and hyperspectral imaging solution for early sepsis diagnostics.
Year of foundation: 2023
Bdetect (Latvia, Riga)
A handheld, point-and-click device for general practitioners to quickly assess skin lesions for melanoma risk.
Year of foundation: 2021
Correcty (Latvia, Riga)
The idea of creating a T-shirt that helps to improve the posture arose naturally as both authors faced this problem and first created this product for themselves.
Year of foundation: 2018
Medon (Latvia, Jūrmala)
Medon is a digital clinic that offers medical consultations online. Stop googling your symptoms, sign up for a visit instead.
Year of foundation: 2020
UPOlife (Latvia, Riga)
We are focusing on timely Atrial Fibrillation and 20 more arrhythmia diagnosis and condition management.
Year of foundation: 2019
Sintez Company (Latvia, Riga)
Application of preventive medicine and food to prevent diseases.
Year of foundation: 2021
Finamba (Latvia, Riga)
We are giving patients ability to easily split their payments for medical procedures with the best offer from various banks
Year of foundation: 2021
BirgerMind (Latvia, Liepaja)
BirgerMind® provides non-invasive Brain-Computer Interfaces (BCIs) that allow completely paralyzed patients to communicate independently. BirgerMind® was created with the goal of helping patients with Amyotrophic Lateral Sclerosis (ALS) and Motor Neuron Disease (MND) regain the ability to use email, social networks, generate voice from text and ask for help, manage contacts and keep track of writings and notes, all using the flexible headgear with ALS-compatible brain signal reading. The main focus is ease of use and quick setup.
Year of foundation: 2021
VREACH (Latvia, Riga)
The VREACH mission is to use the opportunities provided by virtual reality to make the work of functional specialists effective, allowing them to save both material and emotional resources. VREACH also wants to promote public awareness of the rehabilitation process of cognitive abilities, making the sessions and processes transparent to the patient’s child’s family. VREACH sees rehabilitation as an innovative, technology-based modern process that serves faster patient progress, involves the patient’s family in the rehabilitation process, as well as helps to facilitate the work of functional specialists.
Year of foundation: 2020
Skin Bliss (Latvia, Riga)
Skin Bliss is an app that helps you find your perfect skincare match. It is like a Tinder match, but based on science and optimized for lasting relationships.
Year of foundation: 2021
Vigo Health (Latvia, Riga)
Vigo is a digital rehabilitation program for stroke survivors, available on a tablet – in the comfort of your own home and suitable for users without technical training.
Year of foundation: 2018
SpirulinaNord (Latvia, Riga)
Spirulina is a unique microalgae that is one of the most nutritious foods on the planet.
https://spirulinanord.mozello.lv
Year of foundation: 2019
Nutrameg (Latvia, Riga)
Nutrameg is a healthtech startup developing patented nutrition technology for weight management and fitness used by millions of people worldwide.
Year of foundation: 2022
Uppo (Latvia, Pinki)
We created “Uppo” – an ergonomic wrist rest to support those who spend long hours at the computer and don’t want to be interrupted by wrist pain, finger numbness, weakness and other health disorders that lead to Repetitive Strain Injury (RSI) like Carpal Tunnel Syndrome (CTS).
Year of foundation: 2017
Lightspace Labs (Latvia, Mārupe)
Keep your eyes on the patient – AR headset can overlay photorealistic, real-time patient data, enhancing your ability to diagnose, treat, and perform surgery more precisely than ever before.
Year of foundation: 2014
Xoresearch (Latvia, Riga)
XOresearch is a company focused on providing deep learning technology to real-life products for natural language processing and healthcare. XOresearch’s AI lab is a research unit that both offers outsourcing services and develops technologies for company’s products.
https://xoresearch.com/#/xoresearch
Year of foundation: 2015
4PM Ventures – Baltic Healthtech Venture Builder (Latvia, Riga)
We focus on developing and introducing new technologies to the Healthtech market, building businesses that shape the future of healthcare. Our goal is to positively impact human health, enhance quality of life, and expand the reach of medicine, making it accessible to everyone. We’re seeking teams with strong tech skills to co-create and scale companies that are globally focused, working together to change and improve the healthcare system.
Year of foundation: 2019
Latvian Business Angel Network (LatBAN) (Latvia, Riga)
Network of angel investors of Latvia who make investments in startups with exceptional growth potential
Investment and Development Agency of Latvia (LIAA) (Latvia, Riga)
Attracting investment, Promoting foreign trade, Network of LIAA representative offices, Tech transfer, Supporting startups and innovation
Latvian Private Equity and Venture Capital Association (LVCA) (Latvia, Riga)
Our activity is Inform entrepreneurs and the public about the possibilities of receiving venture capital financing; Promote the exchange of knowledge and experience of the members of the association; Represent the interests of the industry to state institutions and legislators;
Organize and ensure cooperation with international and foreign Venture Capital associations.
Latvian Startup Association “Startin.LV” (Latvia, Riga)
We support Latvian startups’ growth by educating, inspiring, and mobilizing the tech community to build the strong economy of tomorrow.
Ministry of Economics (Ekonomikas ministrija) (Latvia, Riga)
The Ministry of Economics coordinates and supervises the systems of national standardization, accreditation, metrology and market supervision. Ministry also plans and manages the provision of measures related to prevention of energy crises. The Ministry of Economics performs the administrative supervision of prospection, exploration and production of hydrocarbons, as well coordinates the medium and long term forecasting of changes in labor market.
Also the function of the Ministry is to introduce and supervise the programs and projects of EU structural funds and other foreign financial means.
Riga Technical University (Rīgas Tehniskā universitāte) (Latvia, Riga)
A modern, internationally renowned and prestigious multidisciplinary technical university – the only one in Latvia
FitRadar (Latvia, Riga)
FitRadar is a new free app to find the best personal trainer or sport event in your local area, in any sport. Free membership. Ad-free. Coming soon.
Year of foundation: 2017
BrunoMaster (Latvia, Kuldīga)
Remote psychoemotional therapy solution. Promoting mental health and wellbeing.
Year of foundation: 2021
Fermentful (Latvia, Mārupe)
Plant-based drinks to support your mental and physical wellbeing.
Year of foundation: 2020
Cellbox Labs (Latvia, Riga)
Developer of miniature organ replicas designed to provide services from concept generation to small-batch fabrication. The company’s organ replicas are focused on microphysiological systems, also known as organs on chip and cancer diagnostics and are manufactured using materials and technologies that combine both the functional specifications and volume scalability for manufacturing, enabling pharmaceutical companies to perform preclinical tests in human-like organs.
Year of foundation: 2020
Anatomy Next (Latvia, Riga)
Information designed to make anatomy easy to remember with 3D models, articles, audio, quizzes, and more
Year of foundation: 2015
SpirulinaNord (Latvia, Latvija)
Spirulina is a unique microalgae that is one of the most nutritious foods on the planet.
Our delicious and healthy spirulina drinks provide a long-term boost to your well-being and energy. No stimulants or caffeine.
https://spirulinanord.mozello.lv
Year of foundation: 2019
Caliverse (Latvia, Latvia)
Meet Caliverse – one of the best calisthenics fitness apps out there with workouts made by professionals. Calisthenics for the whole universe – this is our mission and this is Caliverse. Giving a chance for everyone to learn what is calisthenics and how to perform it correctly – our friends United Calisthenics Group will show exactly how everything is done!
Year of foundation: 2019
AIMUNO (Latvia, Riga)
AIMUNO is a biotech startup that aims to develop an integrative biomarker to distinguish patients who respond to immunotherapy with checkpoint inhibitors from patients with stage III and IV non-small cell lung cancer (NSCLC).
Year of foundation: 2020
VeritaCell (Latvia, Riga)
First to make lab-grade skin cell yields accessible in the operating theatre accelerating and enhancing post-surgical skin renewal with the simplest point-of-care medical kit for surgeons
Year of foundation: 2018
Algae Tree (Latvia, Riga)
Algae Tree is a microalgae-based indoor air quality improvement device that absorbs CO2 from the room, releases oxygen, and manages humidity. Designed for offices with insufficient air quality, it improves human decision-making skills, well-being, and health
Year of foundation: 2022
CO2 Maple (Latvia)
Our task is to remind people about room ventilation and to ensure that people pay attention to air quality.
BrunoMaster (Latvia, Jūrmala)
READING plays a vital role in promoting a person’s intellectual and emotional development, as it stimulates imagination, expands vocabulary, improves the ability to concentrate, see and distinguish the important from the unimportant, expands the perception of the world, and provides satisfaction and joy. Brunomaster’s reading and learning solutions help students achieve their goals in education and realize their potential in life.
Year of foundation: 2016
PrintyMed (Latvia, Riga)
PrintyMed is a revolutionary medicine company that focuses on the development of artificial spider silk for different medical applications.
Year of foundation: 2023
Fitodenta (Lithuania, Vilnius)
FITODENTA IS THE INNOVATIVE ALTERNATIVE IN POST-OPERATIVE ORAL CARE. Fitodenta natural products promote healing, help to alleviate inflammation and speed up post-surgery recovery times up to 40%. Clinically tested & proven.
INNOSENSUS (Lithuania, Vilnius)
It is estimated that 1 of 3 Europeans do not tolerate gluten. Same in USA. These gluten intolerant people are avoiding to eat in the public places: restaurants, cafes, schools, even kindergartens, avoid traveling. So they are always stress if they need to eat outside the home. Problem: There is no quick and effective way to detect the presence of gluten in the food. Therefore people who are gluten intolerant day by day meets with unpleasant symptoms and this causes physical and psychological problems. SOLUTION: We are creating a personal biosensor, which quickly detects the presence of gluten in the food, and helps to prevent unpleasant symptoms.
Year of foundation: 2021
Vow Health (Lithuania, Vilnius)
The VOW platform is a simplified and fast way to check your health and prevent future health problems. The user’s blood sample is taken and tested in one of the partner laboratories, and the results of the tests are evaluated and commented on by a VOW Health doctor. The user can also track changes in their health from data stored securely on their profile.
Year of foundation: 2020
Viveo Health (Estonia, Tallin)
Future-proofing health insurance businesses. Viveo provides a white-label platform for setting up your world-class customer experience in health & wellness services.
Year of foundation: 2020
Upcoming Health (Lithuania, Vilnius)
Your healthcare can be better. We believe that seeing a doctor should not take weeks. Nor should you spend hours getting there or guessing what are your next steps after the visit.
We’re building the digital well-being platform for today. A place where taking care of yourself and your loved ones becomes a lifestyle, not a burden.
Year of foundation: 2021
Pulsetto (Lithuania, Vilnius)
Pulsetto is a new, world-leading technology that stimulates the vagus nerve – the major highway between your brain and internal organs. Stimulating the vagus nerve increases its activity, resulting in a drop in heart rate, an increase in HRV (heart rate variability), and the activation of the parasympathetic nervous system. This makes you calmer, less stressed, less anxious and results in better sleep.
Year of foundation: 2021
DiaWiser: Your next-gen diabetes care (Lithuania)
DiaWiser is revolutionizing diabetes care with our next-generation AI agent. Designed to be your trusted companion in managing diabetes, DiaWiser offers personalized support, medical guidance, and lifestyle choices tailored to your unique needs and goals.
Wosome (Lithuania, Vilnius)
Personalised supplements for women based on their menstrual cycle specifics. Designed for womenwho care about their health and want to solve problems related to hormonal imbalance.
Year of foundation: 2023
Ligence (Lithuania, Vilnius)
Cardiac ultrasound is a safe and inexpensive test for monitoring and preventing heart disease. Manual work (e.g. measuring, writing report) takes 50-85% of test time. We make cardiac ultrasound more accessible, cheaper and less human reliant by automating the analysis.
Year of foundation: 2019
Oxipit (Lithuania, Vilnius)
Oxipit is a computer vision software startup specialized in medical imaging. With a team of award-winning data scientists and medical doctors, the company aims to introduce innovative Artificial Intelligence/Deep Learning breakthroughs to everyday clinical practice. Oxipit is the authors of CE certified multi-award winning ChestEye radiology imaging suite.
Year of foundation: 2017
Sentante (Lithuania, Vilnius)
Longenesis makes data discovery and patient engagement easier for biomedical institutions, patient organisations and research sponsors. Our products empower hospitals, doctors, and researchers to communicate directly while providing compliant and consent-enabled biomedical data curation and generation.
Year of foundation: 2017
Biomatter (Lithuania, Vilnius)
Creating proteins and enzymes with Intelligent Architecture™ for health and sustainable manufacturing.
Year of foundation: 2023
Allergomedica (Lithuania, Vilnius)
Allergomedica is a digital first allergy clinic. Our aim is to help people fully understand their allergies and find an efficient ways to improve their life quality by leveraging modern technology.
Allergomedica offers allergy diagnostic programs based on molecular allergy blood test. It provides a detailed explanation of yours allergy profile and set of recommendation and treatment options.
Year of foundation: 2016
Rīga Stradiņš University (Latvia, Riga)
One of the most modern universities in the Baltic States with an extensive choice of study programmes in health care and social sciences, a strong foundation in research and international recognition.
Ministry of Health (Veselības ministrija) (Latvia, Riga)
The Ministry of Health is the leading public authority in the health sector. It is responsible for public health, healthcare and pharmaceuticals. The main task of the Ministry is to develop and implement public policies to ensure public health in a healthy environment, by promoting prevention, promoting healthy lifestyles and creating the conditions for the population to receive cost-effective, accessible and quality healthcare services.
Migrevention (Estonia, Tartu)
Migrevention Digital Headache Clinic provides a holistic, evidence-based approach to managing primary headaches. We equip both patients and specialists with simple yet powerful digital tools, enabling more accessible, collaborative and 10x more efficient disease management pathway through the thoughtful use of most relevant data
Certific (Estonia, Tallin)
Reduce admin. Elevate care
With a single, ready-to-use platform, you can communicate with patients, receive automated medical summaries, and manage tasks.
Year of foundation: 2020
MX Labs (Estonia, Tallin)
Health Monitoring with Face‑Scanning Technology.
Clinically validated software for vital‑signs measurements.
Year of foundation: 2020
Nanordica Medical (Estonia, Tallin)
ADVANCED ANTIBACTERIAL WOUND CARE PRODUCTS
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Antegenes (Estonia, Tartu)
Antegenes is a healthcare technology company developing and implementing innovative genetic tests based on polygenic risk score technology to enable personalised prevention of common cancers.
Year of foundation: 2018
HEALTH FOUNDERS (Estonia, Tallin)
We are a launchpad for ambitious founders who are building the future of health
Diagnolita (Lithuania, Vilnius)
A start-up company developing innovative molecular diagnostics assays. We aim to translate achievements of genomics and our deep knowledge as well as experience in life science technologies such as qPCR, NGS, etc. to molecular diagnostics for medicine.
Year of foundation: 2013
Delta biosciences (Lithuania, Vilnius)
We are on a mission to accelerate early stage drug discovery by miniaturising functional assays and exponentialising the chemical space.
https://www.deltabiosciences.com/
Year of foundation: 2020
Atrandi Biosciences (Lithuania, Vilnius)
This biotech startup, based in Vilnius and Denver, offers an arsenal of high-throughput droplet microfluidic and next-gen single-cell analysis tools, which are used in life science lab experiments and research. Its proprietary semi-permeable capsule technology is opening new application opportunities across multiple life sciences domains.
Year of foundation: 2016
Mindletic (Lithuania, Vilnius)
Mindletic is a digital mental health gym, co-created with certified psychologists and mental health organizations, aiming to predict & prevent emotional imbalance and increase emotional intelligence (EQ), a key human competency that can’t be replaced by AI in the future
Year of foundation: 2020
Biotecus (Lithuania, Vilnius)
We are working with high quality hemp biomass from Lithuania in order to create potent and compliant products.
Year of foundation: 2017
Health Tech Accelerator (Lithuania, Vilnius)
The HealthTech Accelerator is a community of fearless innovators enabling one another to thrive in the tech world. We create and drive an ecosystem for visionary entrepreneurs who are shaping the future of healthcare. This initiative aims to bring together stakeholders and contribute to the growth of a robust health tech ecosystem by nurturing talent, promoting research and development, and advocating for a culture of innovation. The project is initiated by the Future Leadership Innovation Agency, along with a wide range of private and public partners, including agencies, pharmacists, hospitals, and individual enthusiasts.
https://www.healthtechaccelerator.lt/
Kilo Health (Lithuania, Vilnius)
Dynamic company in digital health, with driven entrepreneurs. Thriving startup studio with 30+ successful products.
Cardio.AI (Latvia, Riga)
XOresearch’s Artificial Intelligence for Automatic Annotation and Interpretation of Electrocardiogramsand recorded by any legally marketed source. This software medical device enables unattended cardiac monitoring with a seamless EHR interface.
https://cardio.ai/#/whycardioai
Year of foundation: 2015