Exonicus Secures €85K Syndicate Investment from LatBAN to Strengthen Operations Ahead of Major Defence Contracts
LatBAN’s first investment in dual-use innovation underscores growing investor confidence in Latvia’s DefenceTech potential.
Exonicus, a Latvian-American company pioneering extended reality (XR) trauma training for defence and emergency medicine, has secured an €85,000 syndicate investment from the Latvian Business Angels Network (LatBAN).
While modest in size compared to the capital flows typical in the defence and MedTech sectors, this investment represents a strategic signal of support. The funding is aimed at strengthening Exonicus’ operational capacity as the company finalizes large-scale international military contracts and accelerates market traction in Europe and the United States of America.
Exonicus’ flagship product - the Exonicus Trauma Simulator - delivers hyper-realistic, AI-powered training scenarios for combat medics, first responders, and healthcare professionals. Used by NATO special operations forces, the U.S. Army, and training centers across Europe, the platform allows real-time simulation of trauma cases in virtual, augmented, and mixed reality formats.
Sandis Kondrats, Founder and CEO of Exonicus:
“We’ve reached a crucial inflection point. Our technology is proven, international partners are engaged, and now we’re transitioning from R&D to deployment at scale. This investment from LatBAN, though relatively small in capital terms, is a meaningful validation from Latvia’s investor community and it comes at exactly the right time.”
Ansis Spridzāns, Board Member at LatBAN and ASP Asset Management:
“Exonicus represents the kind of deep-tech ambition we need more of in Latvia - technologies that are exportable, dual-use, and mission-critical. This investment is not just financial; it’s about backing a team that is already shaping the future of trauma simulation in both military and civilian contexts.”
This investment marks LatBAN’s first entry into the Defence/MedTech crossover sector, underscoring a broader shift among angel investors toward impactful, dual-use innovations emerging from the Baltics.
