The annual Deloitte Technology Fast 50 Central Europe chart evaluates the 50 fastest-growing private and public technology companies in Central Europe. And while Latvians sometimes bridle at being described as Central European rather than Northern European, in this case there will probably not be any complaints.
“This chart continues to highlight the remarkable achievements of businesses that not only drive economic growth, but also foster innovation and technological development in the region. We’re proud of the success of the Baltic States and their contribution to the broader business environment,” said Kristīne Jarve, Deloitte’s Lead Partner in the Baltics.
Every year, hundreds of companies from various countries are nominated for this chart. A total of seven companies from the Baltic States were included this year.
The 14th fastest-growing company in Central Europe, Prime Prometics is a Latvian e-commerce cosmetics brand that develops products specially tailored for women over the age of 50.
“The Baltics are the next region that will drive Europe’s growth. It’s great to see several Baltic companies on this year’s list. Our starting point, work ethic, and ambition speak for themselves. The Baltic States will be Europe’s Silicon Valley,” believes Prime Prometics founder Kaspars Eglītis.
Last year, the company’s consolidated turnover exceeded €48 million, 119% up on the previous year. Consolidated profits before taxes reached €5 million, an increase of 139%. Last year, Prime Prometics also won Latvia’s Startup of the Year Award in the Best Growth-Stage Startup category.
Meanwhile, Latvian startup Jeff App ranked 3rd in Deloitte’s Technology Fast 50 Central Europe, the highest-ever result for a Latvian company in this chart.
Impact stars
In the Deloitte chart, businesses are also recognised in the Impact Stars category. This category highlights companies that successfully combine excellent products and services with a positive impact on society, business, innovation, the environment, and diversity.
This year, the Latvian military technology startup Origin was highlighted as an Impact Star. Origin is growing rapidly, and its team of 70 employees has already developed two products. The company’s first product, Beak, is a high-precision weapon system launched from a drone, while the autonomous interceptor drone Blaze is designed to neutralise fast-moving airborne threats quickly and precisely.
Although Origin was only launched three years ago, its founders Agris Ķipurs and Iļja Ņevdahs are vastly more experienced in unmanned aerial systems, because they were co-founders of Airdog. Their vision has attracted investor confidence: in 2024, Origin secured €4 million in pre-seed funding. The company has also received approval for an additional €4.5 million in funding from the European Defence Fund. This funding will be used to create unmanned technology capabilities for target designation, significantly expanding the use of precision-guided munitions.
Last year, the Impact Stars category highlighted Datorium, Swotzy, and Weedbot. Their success maintains a steady trend of achievement by emerging Baltic businesses. In previous years, Apply, Longenesis, Setupad, PrintOnPack.com, Twino, and Alina have also been recognised.
In the Companies to Watch category, the Latvian company Graip.AI was recognised for developing no-code and self-learning artificial intelligence platforms for document processing. The company’s solution enables full automated document workflows—from receiving and recording documents through to data extraction, classification, and integration into IT systems, thus reducing manual work and minimising errors.
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