Baltic Tech Ventures Bought Stake in Georgian Startup Total Traffic Management

Latvia-based Baltic Tech Ventures has bought a stake in Georgian startup Total Traffic Management (TTM).

Representatives of Baltic Tech Ventures were able to be introduced with TTM's work on the Pitch Day event, which was organized by Tbilisi City Hall and AXEL - Georgian Angel Investor Network.

Georgian startup TTM created Intelligent Speed Assistant (ISA) - a smart device, which reduces automobile speed in real time within the specific road section. ISA is fixed at the acceleration pedal and it is adaptable to almost all vehicles, including hybrid and electric cars.

"Demonstrating investment opportunities, supporting the business sector, and establishing intensive ties with European companies play a huge role in Tbilisi's economic development. Organized by Tbilisi City Hall and AXEL, an event was held on 23-24 June, which enabled us to successfully present Tbilisi's investing opportunities and get acquainted with the leading startup ecosystem for the representatives of AXEL. Our initial results are impressive and we have positive expectations since investment negotiations are underway with several startups.", noted Deputy Mayor of Tbilisi, Andria Basilaia.

The investment attracted by TTM is also considered successful by the founders of Axel. According to them, this fact confirms the capabilities of the Georgian Angel Investor Network - to discover the best startups at an early stage and connect them with investors.