Adventum Tech, a startup based in Latvia, has taken home the main prize at TechChill – the 11,000 EUR community pot, no strings attached. The pitch competition was the most diverse ever, with 250 applications from more than 30 countries, making it one of the most internationally sourced pitch competitions in TechChill history.
Adventum Tech is a startup that develops both hardware and software to mitigate structure collapses during construction. Through applying a variety of sensors they are able to monitor the structural integrity of load-bearing supports.
“This was the prize we were aiming for at TechChill. This 11,000 EUR cash prize has a very specific destiny – it will be used to develop a sensor to detect issues in foundations of structures in regions with higher rates of earthquake volatility.” – Nikita Gorbatko, Co-founder of Adventum Tech.
In addition to the no-strings-attached cash prize, a variety of equity opportunities were handed out. Sign-on Tab from Lithuania won prizes from BADideas.fund and DEPO Ventures, with the chance to land investments of up to 100,000 EUR and 150,000 EUR, respectively. Hardware accelerator Buildit named Adventum Tech and Abillio (Latvia) as the recipients of up to 50,000 EUR investment each.
Prizes were also awarded by Sorainen, who provided startups with legal consultations at a value of up to 5000 EUR. The winners were zenoo (Lithuania), Codigy (Lithuania), and Adventum Tech. McCann Riga and White Label offered three startups 5000 EUR worth of creative and strategic consultancy – winners included Cubed (Latvia), Nelinor (Finland), and Adventum Tech. Look AI Ventures offered an investment opportunity from 50k-250k EUR to Nordics.io.
“Adventum Tech very effectively pitched a real-world solution for a serious challenge in the construction industry, including the ability to land a very large, paying customer early. We wish them luck in commercializing their technology.” – Andris K. Bērzniņš, Managing Partner at Change Ventures.
The final jury was made up of four investors from around the world; Andris K. Bērziņš of Change Ventures, Petr Šima at Depo Ventures, Michael Bjornlund from Rockstart, Eva Arh of 3VC, and angel investor Ana Wolsztajn.
TechChill next be held in Milan on September 26-27, the Italian and European ecosystems are invited to save the date and reserve their tickets at www.techchillmilano.co.
TechChill is a startup community non-profit that hosts the largest tech event in Latvia. Having grown from a small grassroots movement of like-minded tech enthusiasts, TechChill celebrates the best of the Baltic startup community by annually bringing together thousands of attendees, including the fastest-growing startups, most innovative corporations and speakers, investors active in the region, and talented tech enthusiasts. TechChill is organized by a non-profit foundation of the same name, empowering the Baltic startup ecosystem throughout the year.
More information: TechChill.co.