Success stories

Austrian PropTech startup pinyya builds new path to homeownership from Latvia

Austrian PropTech startup pinyya has chosen Latvia as the base for its regulated investment business and future European expansion. Founded in 2022, the company has developed an innovative co-investment model that helps people become homeowners without waiting years to save for a traditional down payment. Following the recent decision of Latvijas Banka to grant pinyya invest an investment firm licence, the company is now preparing to scale its operations across Europe. 

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Redwire

U.S.-based drone and unmanned-systems company "Redwire" operates a major manufacturing and R&D hub in Riga, Latvia, investing around EUR 8 M in a new 10,000 m² facility that doubles its production capacity and enhances its global supply capabilities after acquiring Edge Autonomy and significantly increasing the company’s footprint in Europe. 

Tech Mahindra

Leading global provider of digital transformation, consulting, and business re-engineering services chose Latvia as a strategic location for its European operations employing around 500 professionals. The company’s Riga office serves as a technology and innovation hub, supporting clients across the EU with advanced IT solutions, cybersecurity, and software development. By investing in Latvia, Tech Mahindra leverages the country’s strong digital infrastructure, multilingual talent, and thriving ICT ecosystem to deliver next-generation technologies and accelerate digital growth in the region.

Frankenburg Technologies (Estonia)

Developing next-generation artificial intelligence-guided missile systems that are scalable for mass deployment and provide advanced targeting and modern combat capabilities. frankenburg.tech

Marcegaglia

"We are delighted to have invested in Latvia and we are confident that our cooperation will continue to deliver great results in the future. We plan to resume operations very soon."

Antonio Marcegaglia president and CEO of the company Marcegaglia