Lithuanian Turing College secures Y Combinator funding

The AI training provider is the first Lithuanian startup to be selected for the programme and one of several Lithuanian startups to gain funding recently.
By Sophie Porter
02:10 am
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Credit: Turing College

Lithuanian data science startup Turing College has been selected for the W21 batch of the Y Combinator, a Silicon Valley accelerator programme.

Turing College is a data science and AI edtech startup that enables students to learn at their own pace on a peer-driven remote learning platform. With demand for data scientists ballooning, the Vilnius-based company hopes to solve recruitment issues by co-creating its curricula with Hiring Partners such as Biomapas and Neurotechnology to ensure students learn the necessary skills to get hired.

So far, Turing College has received $1.2 million (€0.9M) in funding, including a pre-seed round led by Startup Wiseguys. This funding has enabled them to build their learning platform and offer courses to learners in the EU. As a member of the Y Combinator programme, the edtech startup received a $125,000 financial injection and a three-month programme to fuel its scale into new European markets.

WHY IT MATTERS

Y Combinator is a fund accelerator that, twice a year, invests a small amount of money into a large number of startups. Alumni include Airbnb and Scale AI, as well as digital pharmacy Truepill and at-home workout service, Pivot.

The W21 Y Combinator batch has 350 startups from across 41 countries. For the first time in its 16 year history, 50% of the batch are from outside the US. Turing College is the first Lithuanian company to be selected by Y Combinator.

It launched its second course on 19 April 2021.

THE LARGER PICTURE

Healthcare makes up 12% of the investments in the W21 Y Combinator batch. Other startups include PipeBio, a Danish bioinformatics platform to develop antibody drugs, Nuntius Therapeutics, a UK-based medtech company specialising in cell-specific gene therapies, and Blushh, a South Korean sexual wellness audio app for Asian women.

In 2019, Vilnius was dubbed a global leader for attracting tech startups. Recently, CGTrader, a marketplace for 3D modelling, received $9.5 million (€7.9M) in Series B funding, while money transfer company TransferGo raised €4 million from Silicon Valley Bank.

ON THE RECORD

CEO of Turing College, Lukas Kaminskis, said: “We have put in a lot of work in preparation for the Y Combinator selection phase, working hand in hand with customers and growing revenue weekly, so it is an immense honour to be selected, and Vilnius has made it a lot easier for us.”

He continued: “We see that the model we are developing is working. We already have our first programme participant employed. And our data-based recruitment solution is attracting more and more interest from companies looking to partner with us. Joining Y Combinator means we have access to the world’s largest investors, experts and business advisors. For us, it is both a great honour and a responsibility. We are proud to be the first Lithuanian company in the ranks of Y Combinator.”

Mayor of Vilnius, Remigijus Šimašius, said: “Vilnius has been buzzing with startups which make it one of the leading startup hubs in Europe. The global recognition of companies based in the capital is a great achievement for the young entrepreneurs and the city. It shows that our startup support system lays the groundwork for even more outstanding recognitions.”

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