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.”