Naco Technologies, a Riga-based startup specializing in advanced nano-coating solutions for green energy, secured €2.5 million in pre-Series A funding, marking a significant step within Latvia's growing sustainable technology sector.

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Naco Technologies, a startup based in Riga, Latvia, has successfully raised €2.5 million in pre-Series A funding as of early 2025. The company specializes in creating advanced nano-coating solutions aimed at enhancing the efficiency of green energy systems. This innovative approach positions Naco Technologies at the forefront of sustainable technology development in Latvia, reflecting a strong commitment to environmental responsibility and renewable energy solutions.

This funding round, led by notable investors such as Radix Ventures, Impact Ventures, and The Untitled Ventures, not only marks a significant financial milestone for Naco Technologies but also emphasizes the increasing interest from investors in sustainable and green technology startups.

Industry Overview in Latvia

The Latvian startup ecosystem has shown remarkable resilience and adaptability, particularly evident through its performance in 2024. Startups in the country collectively raised €28 million, which represents a 7% incr