Riga Startups

Which Latvian startups grew

Every figure below is a company’s own, filed with the Register of Enterprises in its annual report. Nothing is estimated and nobody opted in. Comparing 2024 with 2025, across the 455 listed companies that filed both years.

Sorted by how much was added rather than by percentage, so a company going from two staff to thirty-two does not outrank one that hired seventy-six people. Annual reports are filed months after a year ends, so this is the most recent complete picture rather than today: 113 listed companies with accounts have not filed 2025 yet and are not in these tables. Who is hiring right now is further down, and is read from company careers boards every night.

Added the most staff

Employees as reported in the annual report, 2024 to 2025.

  1. 1Aerones168 → 244 staff+76 (+45%)
  2. 2ORIGIN UAV16 → 61 staff+45 (+281%)
  3. 3ERASER2 → 32 staff+30 (>10x)
  4. 4Gorgon Optronics4 → 25 staff+21 (+525%)
  5. 5Spinwise93 → 114 staff+21 (+23%)
  6. 6Double Helix Technologies0 → 20 staff+20 from nothing
  7. 7Nutrameg28 → 48 staff+20 (+71%)
  8. 8Mapon138 → 157 staff+19 (+14%)
  9. 9HansaMatrix40 → 57 staff+17 (+43%)
  10. 10asya.ai5 → 17 staff+12 (+240%)
  11. 11Brasa Defence Systems46 → 58 staff+12 (+26%)
  12. 12Gravity Team42 → 53 staff+11 (+26%)
  13. 13Prime Prometics10 → 20 staff+10 (+100%)
  14. 14Cellbox Labs6 → 15 staff+9 (+150%)
  15. 15Handwave5 → 14 staff+9 (+180%)
  16. 16APPLY34 → 42 staff+8 (+24%)
  17. 17Fursmetics2 → 10 staff+8 (+400%)
  18. 18Azeron101 → 108 staff+7 (+7%)
  19. 19Five Reasons7 → 14 staff+7 (+100%)
  20. 20HackMotion18 → 25 staff+7 (+39%)

Added the most turnover

Turnover as reported, 2024 to 2025. Turnover is revenue, not profit and not money raised.

  1. 1Prime PrometicsEUR 44m → EUR 86m +EUR 41m (+94%)
  2. 2NutramegEUR 9.7m → EUR 33m +EUR 24m (+243%)
  3. 3Brasa Defence SystemsEUR 11m → EUR 18m +EUR 7.3m (+66%)
  4. 4Anego StudiosEUR 2.2m → EUR 9.4m +EUR 7.2m (+330%)
  5. 5ORIGIN UAVEUR 1.8m → EUR 8.6m +EUR 6.8m (+377%)
  6. 6JeffEUR 9.6m → EUR 16m +EUR 6.6m (+69%)
  7. 7ERASEREUR 41,737 → EUR 6.0m +EUR 6.0m (>10x)
  8. 8Power MiningEUR 492,173 → EUR 5.5m +EUR 5.0m (>10x)
  9. 9MaponEUR 16m → EUR 20m +EUR 4.2m (+26%)
  10. 10MatrixifyEUR 14m → EUR 18m +EUR 3.7m (+26%)
  11. 11Gravity TeamEUR 6.9m → EUR 10m +EUR 3.4m (+49%)
  12. 12HackMotionEUR 7.3m → EUR 11m +EUR 3.4m (+46%)
  13. 13LV-TehEUR 1.1m → EUR 4.1m +EUR 3.0m (+263%)
  14. 14BaseCamEUR 1.8m → EUR 4.3m +EUR 2.5m (+135%)
  15. 15SwotzyEUR 988,511 → EUR 3.3m +EUR 2.3m (+237%)
  16. 16Text2ReachEUR 2.3m → EUR 4.6m +EUR 2.3m (+97%)
  17. 17MADARA CosmeticsEUR 21m → EUR 23m +EUR 2.1m (+10%)
  18. 18SorainenEUR 12m → EUR 14m +EUR 2.0m (+17%)
  19. 19Perkons EnergyEUR 179,508 → EUR 2.2m +EUR 2.0m (>10x)
  20. 20eazyBIEUR 11m → EUR 13m +EUR 1.9m (+17%)

Largest by headcount

Employees in the 2025 annual report. A different question from who grew.

  1. 1Printful560 staff
  2. 2Printify363 staff
  3. 3Aerones244 staff
  4. 4MADARA Cosmetics188 staff
  5. 5Mapon157 staff
  6. 6Spinwise114 staff
  7. 7Azeron108 staff
  8. 8Tilde102 staff
  9. 9Sorainen90 staff
  10. 10Ideaport Riga79 staff
  11. 11ORIGIN UAV61 staff
  12. 12Brasa Defence Systems58 staff
  13. 13HansaMatrix57 staff
  14. 14Gravity Team53 staff
  15. 15Nutrameg48 staff
  16. 16Ervy43 staff
  17. 17APPLY42 staff
  18. 18VENDON42 staff
  19. 19Medon39 staff
  20. 20Supliful39 staff

Hiring right now

Open roles read from each company’s own careers board last night. The only table here that is not a year old.

  1. 1Printful31 open roles
  2. 2Aerones17 open roles
  3. 3Mintos17 open roles
  4. 4GoCardless9 open roles
  5. 5Electrify8 open roles
  6. 6Nutrameg7 open roles
  7. 7Edurio3 open roles
  8. 8Lokalise3 open roles
  9. 9Nexpay1 open role

These change once a year. The register changes nightly.

One email a week with what moved: who was registered, who changed name or address, who started hiring, who left.

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Is your company missing, or is a figure wrong? Find your listing and claim it. The filed figures come from the register and are not ours to change, but the description, sector and links are yours once you do.