Change Ventures

We are very excited to see the merger of two of the world's leading print-on-demand companies, Printify and Printful into one combined global leader. As an investor in Printify, we believed strongly in the marketplace model and a great team, led by James Janis Berdigans and Artis Kehris at the time, now with Anastasija Oleinika's stellar leadership. Together these companies will have the best of at-scale in-house manufacturing and a global network of suppliers. Their combined scale will let them build a world leader that could IPO in the coming years, still with the core teams remaining in Latvia. We wish Alex Saltonstall, Anastasija Oleinika and James Janis Berdigans the best of luck on this journey!

🔥 I’m excited to share that we’ve raised $12,000,000 to help every creator earn a living. This is a huge milestone, but it still feels like the first day (just smarter). I’m grateful for the people who put their trust in Avery and me: the team, customers, angels, and VCs. It’s an honor. Modash wouldn’t exist without creators, or thousands of brands who believe in creatorship, being our patrons, or hundreds of customers' harsh words or supportive feedback that have made the product what it is. And the team! Wow, what a great bunch of people. I didn’t know it was possible to have a team like that - so talented, so passionate. Endless gratitude to Icebreaker.vc and Change Ventures for your long time belief and commitment. And a warm welcome to Jan, Mick, and henQ. Our newest knights of the roundtable. A pleasure to have you. And thanks to the Estonian Founders Society, #EstonianMafia, for lighting the path for Estonian startups to flourish. It has been an unbelievable ride these last 6-7 years. For us, it is still just the beginning. We'll use this Series A to serve our customers, help them work with creators, build stronger relationships, and help every creator earn a living. We’re hiring in Canada and all over Europe. Link in the comments ;)

Estonia’s Modash raises $12M Series A for AI-driven creator discovery and payment solutions Modash, based in Tallinn, has raised $12 million in Series A funding to bolster its influencer marketing platform, particularly focusing on enhancing AI-enabled search and an in-platform payment system. This funding round was led by henQ VC with the participation of existing investors such as Icebreaker.vc and Change Ventures. The fresh capital will support improvements across Modash’s platform, addressing cross-border compliance issues in creator payments and refining its discovery engine for content creators. Additionally, Modash plans to establish a North American office in Ottawa to better serve its U.S.-based clients. Working with well-known brands like Birkenstock and Farfetch, Modash aims to streamline brand-creator partnerships, a sector anticipated to grow significantly within the next few years. https://lnkd.in/dTbBCuiX #funding #balticmade #estonia #startups #influencermarketing #trending

Looking to meet the best investors this February? Look no further than TechChill 2025 in Riga, Latvia! 💡 Every conversation and every connection at TechChill could be the start of your next big opportunity. Get your pass here: https://lnkd.in/dNVNwHdW Change Ventures, FIRSTPICK, Flashpoint Venture Capital, Karma Ventures, Butterfly Ventures, Latvian Business Angels Network, DEPO Ventures, 2C Ventures, Nordic Secondary Fund, Lemonade Stand, JOIN CAPITAL, Vendep Capital, BADideas.fund, Trind Ventures, Practica Capital, Fiedler Capital, Draugiem Group, PurposeTech, Tenity, Superhero Capital, Souschef Ventures, NGL, Sampo Accelerator, Buildit VC, Outlast Fund, Verge HealthTech Fund, Iron Wolf Capital, Specialist VC, Baltic Sandbox Ventures, 500 Global , Inventure, Orion Securities, Flyer One Ventures, 500 Emerging Europe, Balnord, Project A, Giesecke+Devrient, Agreen.fund, Spring Capital, Presto Ventures

🔊 New funding round announcement: our portfolio company Modash has raised a $12 million Series A led by henQ! Modash helps brands like Farfetch, Victoria’s Secret, and MontBlanc discover people who can promote their message. But instead of focusing on content creators with big followings, Modash builds open data to let its clients find the perfect matches among the long tail of the 250 million creators it lists. Going way beyond analytics, Modash delivers an end-to-end platform that allows brands to source creators, analyze campaign performance, outsource all payment processes, and more. In addition, Modash has opened an office in downtown Toronto and is scaling its customer base, especially in the North American market. Congratulations to the founders, Avery Schrader and Hendry Sadrak, and the entire team behind this! 🎉 Read our blog post to learn more about the story behind Modash: https://lnkd.in/duUR8WSS

We are delighted to announce Aveli Nurk’s promotion to Operating Partner at Change Ventures. Aveli joined us over three years ago as a Finance Manager and has since become a cornerstone of our fund family, taking exceptional care to ensure that our finances, fund administration, compliance, and other operational matters are handled to the highest standard. She is also an engaged and valuable contributor in our Investment Committee discussions. Now she is joining the core partnership as Operating Partner and we look forward to working closely with her for many years to come. 👏

Defence technology startup Origin Robotics has secured €4 million in funding to drive the development of its innovative drone-launched precision-guided weapon systems 🇱🇻 Agris Kipurs, co-founder and CEO of Origin, said: “We find ourselves in a new era where security can no longer be taken for granted and warfare is evolving rapidly. We saw an opportunity to leverage our decade of experience building autonomous drones for the demanding needs of action sports enthusiasts to create an alternative to today’s expensive precision-guided munitions.” The round was led by Change Ventures, alongside additional backing from Silicon Roundabout Ventures, EU grants and the Latvian Ministry of Defence. https://lnkd.in/dGsm73HA

Latvia’s defensetech startup secures €4M pre-seed funding to enhance portable drone weapon systems Riga-based defence tech startup Origin Robotics has raised €4 million in pre-seed funding, with €2.4 million coming from venture capital led by Change Ventures and €1.6 million from grants provided by the EU and the Latvian Ministry of Defence. Founded in 2022 by Agris Kipurs and Ilya Nevdah, the company is developing the BEAK, a portable ISR (Intelligence, Surveillance, and Reconnaissance) drone-launched weapon system that uses advanced computer-vision and AI for precision guidance. The funding will support product development and team expansion, specifically in engineering and sales roles, to further advance the BEAK’s deployment capabilities. https://lnkd.in/dwBBJkcq #funding #balticmade #latvia #startups #defence #defense #robotics #drones #trending

We’re thrilled to announce that we’ve raised €4 million in pre-seed funding! This includes €2.4 million in venture capital led by Change Ventures, with participation from Silicon Roundabout Ventures, and €1.6 million from EU grants and support from the Latvian Ministry of Defence. This milestone is a testament to the exceptional work of our engineering team, who have thrived in a fast-paced start-up environment to create and deploy our flagship product, BEAK. BEAK is a man-portable ISR (Intelligence, Surveillance, and Reconnaissance) drone with precision-guided technology, providing a cost-effective solution for precision strikes at a fraction of the cost of current alternatives. With this funding, we’re ramping up BEAK’s production to deliver on our first major commercial agreements. At the same time, we’re expanding our team by bringing in top engineering talent to push the boundaries of innovation in airborne precision-guided systems. A huge thank you to our dedicated Engineering team and visionary investors for making this possible. Read more about this exciting update on TechCrunch. 👇

There are many new entrants to the drone/UAV market during the past two years since the war in Ukraine showed how dramatically the battlefield is changing. Few startups, however, have the depth of experience that Agris Kipurs and Ilja Nevdahs have from their decade launching the world's leading autonomous action sports drone, AirDog. Two years ago they turned their attention to military applications and following intensive tests and research in Ukraine, they have a battlefield-proven product, BEAK. This drone-launched precision strike weapons system is the next evolution filling a large gap between expensive Western precision missile systems such as Javelin and the proliferation of FPV drones and loitering munition that are cheap but have a low mission success rate. Change Ventures is excited to have led the Origin Robotics recent funding round of €2.4M, accompanied among others by Francesco Perticarari and Silicon Roundabout Ventures, which complements €1.6M in EU and Latvian grant funding to support the company's rapid growth. Learn more about their story by reading the TechCrunch article below. https://lnkd.in/dxKsd3H6