This Lithuanian AI Startup Just Raised $1.3M to Fix Car Rental in Europe

Jan de Vries · 2026-07-29

The car rental experience in Europe has a dirty secret: thousands of perfectly good vehicles sit idle every day while travelers struggle to find affordable options. A Vilnius-based startup called Sigvi just raised $1.3 million in pre-seed funding to solve that problem with AI. ### The Big Picture Europeans are traveling more than ever before, but the car rental industry hasn't kept up. You can book a hotel room in seconds, but renting a car still often involves long queues, confusing paperwork, and sky-high prices. Sigvi is building the technology layer that connects independent car owners with travelers who need wheels. Vytis Sliazas, CEO and co-founder of Sigvi, put it simply: "Travellers expect to book a car as easily as they book accommodation. Meanwhile, thousands of quality vehicles owned by independent operators sit idle because they lack the technology to reach those customers." ### How Sigvi Works Founded in 2023 by Sliazas, Ignas Gibas (COO), and Mindaugas Banaitis (CTO), Sigvi is essentially an AI revenue agent for the car rental industry. The platform aggregates vehicles from independent fleet operators and private owners, then manages everything end-to-end. Its AI engine handles: - Dynamic pricing that adjusts in real-time based on demand - Bookings and keyless 24/7 vehicle access - Automated vehicle inspections - Predictive maintenance scheduling - Customer support The result? A wide selection of professionally managed vehicles priced around 30% below traditional international rental brands. And because pickup locations have no counter and no queue, you can be on the road in minutes. ### The Sustainability Angle Here's where it gets interesting. Instead of buying new fleets, Sigvi uses existing second-cycle vehicles. That means cars that would otherwise sit idle are put to work. The company claims this maximizes the use of vehicles already on the road rather than adding new ones. Sigvi also partners with the Kemi network of car service centers to keep every vehicle in top shape. Each car is regularly inspected and maintained, starting from its initial preparation for rental. The company says it replaces parts more frequently than manufacturers recommend and changes tires every season: summer tires in warm months, winter tires when temperatures drop. ### The Funding Details The $1.3 million round was led by Helsinki-based venture capital firm Superhero Capital. Vladas Lasas, Chairman of the Lithuanian Business Angel Network (LitBAN) and co-founder of the Carbon War Room, also participated alongside other angel investors. Gytenis Galkis, Partner at Superhero Capital, explained why they invested: "Sigvi has found a structural inefficiency in a massive market and built an elegant solution around it. We see a clear path for Sigvi to become the digital infrastructure layer for independent car rental across Europe." ### What's Next Sigvi launched operations in Poland in June 2026 and currently manages more than 200 vehicles. The company plans to use this capital to further develop its AI automation platform and increase its managed network to 2,000 vehicles within two years. For independent car rental operators, this could be a game-changer. Instead of struggling with outdated technology or relying on expensive traditional rental brands, they can plug into Sigvi's platform and reach thousands of travelers instantly. For travelers, it means cheaper, greener, and fully digital car rental. And for the car rental industry as a whole? It's a wake-up call that the old way of doing things is no longer good enough.