TGS Baltic has advised Koinvesticinis Fondas on an investment of over EUR 300,000 Millo Appliances, a start-up represented by Triniti. SBA, a business group from Lithuania, also invested in the start-up. SBA was represented by Sorainen.
Millo makes what the company calls "the world’s quietest & most convenient smoothie blender." According to Sorainen, "the creators of Millo have patented its working principle internationally. A patent has been granted for an innovative magnetic clutch solution in a blade cover, which can be screwed directly on the cup." The company is currently creating a blender prototype and is preparing for mass production.
Other investors included Vladas Lasas, Andrius and Tomas Slimai (the founders of the Oberlo company); UAB Airos Kapitalas, and entrepreneur and investor Per Moller.
KUB Koinvesticinis Fondas is controlled by UAB Kofinansavimas, a subsidiary of Invega, which was established in order to implement the venture capital investment measures.
The TGS Baltic team consisted of Partner Dalia Tamasauskaite-Ziliene and Associate Andrius Voska.
Triniti's team included Associate Partner Giedre Ciuladiene and Lead Partner Linas Sabaliauskas.
The Sorainen team was led by Partner Mantas Petkevicius, working with Associate Vytautas Sabalys.
Image source: Kickstarter.com
