Tesonet has announced six new AI-focused investments, featuring the Swedish unicorn Lovable, the AI-powered advertising platform Vibe, and Lithuanian-founded Ace Waves. These investments reflect Tesonet’s long-term strategy in artificial intelligence, a field the group began exploring years before the global AI boom.
Between 2021 and 2022, Tesonet invested in companies such as CUBE3 and Cast AI, organized Lithuania’s first AI-focused hackathons, and supported significant funding rounds within its ecosystem. In October, nexos.ai, a Tesonet-built company, announced €30 million in Series A funding led by Evantic Capital and Index Ventures.
One of Tesonet’s most notable investments occurred in February with Lovable—a Swedish AI platform enabling users to build websites and mobile apps without coding. Tesonet supported Lovable before it reached unicorn status. By June, Lovable’s valuation hit $1.8 billion after a $200 million funding round, with experts now suggesting its unofficial valuation exceeds $6 billion.
“Access to this level of capital structure shows that Lithuania’s tech ecosystem is gaining global recognition—not just as a source of talent, but as an investor capable of identifying early potential,” said Eglė Eidimtaitė, Head of Investments at Tesonet. “When selecting investments, our experts focused on how each company’s technology meets real market needs.”
In addition to Lovable, Tesonet has invested in five other AI companies over the past six months. Among them is Ace Waves, a Lithuanian-founded startup developing an AI-powered customer service platform currently being tested within Tesonet ecosystem companies.
The Tesonet ecosystem is also adopting solutions from two other investments: Vibe, a U.S.-based AI platform that enables real-time, personalized TV ad automation, and Lizzy AI, which optimizes and streamlines employee recruitment processes.
In September, Tesonet invested in Wonderful.ai, a startup that accelerates visual content creation using generative AI. Additionally, Tesonet has backed a stealth-mode cybersecurity company building AI-driven systems for threat detection and prevention.
Looking ahead, Tesonet expects its AI investments to continue growing through acquisitions, talent development, product innovation, and strategic partnerships. The company is also advancing Generation AI, a national initiative providing Lithuanian schools with free access to AI tools. This past weekend, Tesonet hosted its second AI-focused hackathon, awarding prizes to the top teams and offering opportunities for further investment.
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