Origin, a Riga, Latvia-based defence technology company specializing in advanced autonomous systems, has raised €4 million in pre-seed funding.
Investors
The funding comprises €2.4 million in venture capital led by Change Ventures, with participation from Silicon Roundabout Ventures, along with €1.6 million in EU grants and support from the Latvian Ministry of Defence.
Change Ventures is a venture capital fund based in the Baltic states that backs ambitious founders from the region and the global diaspora. They invest at the pre-seed and seed stages in teams with the grit to build global businesses, providing a deep network and opportunities for follow-on investment.
Origin Use of Funds
The investment will accelerate product development and enable Origin to expand its team with critical engineering and sales hires.
About Origin
Founded in 2022 by Agris Kipurs and Ilya Nevdah, Origin focuses on developing advanced autonomous systems, particularly precision-guided weapon systems. The company specializes in creating innovative solutions for modern warfare challenges, including man-portable drones designed for intelligence, surveillance, and reconnaissance (ISR) missions. Its flagship product, the BEAK, is a battlefield-tested ISR drone that utilizes precision guidance technology. The BEAK employs advanced computer-vision algorithms and artificial intelligence (AI) to enhance its navigation and response capabilities, particularly in complex environments and under conditions of electronic warfare.
Funding Details
Company: Origin
Raised: €4.0M
Round: Pre-Seed
Funding Date: October 2024
Lead Investor: Change Ventures
Additional Investors: Silicon Roundabout Ventures, EU grants, Latvian Ministry of Defence
Company Website: https://origin-robotics.com/
Software Category: Autonomous Systems
Source: Nataliia Natalina, Senior PR Consultant