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Sorainen, Walless, and Cobalt Advise on CGTrader's USD 9.5 Million Series B Funding Round

Sorainen, Walless, and Cobalt Advise on CGTrader's USD 9.5 Million Series B Funding Round

Lithuania
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Sorainen has helped Lithuanian 3D model trading platform CGTrader attract USD 9.5 million in a Series B funding round from Mikael Hed, Evli Growth Partners, LVV Group, and Karma Ventures. Walless advised Mikael Hed and Evli Growth Partners and Cobalt advised Karma Ventures on the deal.

According to Sorainen, as a result of the investment, Hed, the former CEO of Rovio, has become Chairman of the Board at CGTrader.

Since its launch in 2011, The CGTrader platform has amassed approximately 3.5 million registered users, 1.1 million models, and about 380,000 customers. The company has 79 employees, and Sorainen report that the company’s team is set to double in size in 2021.

Sorainen’s team included Vilnius-based Partner Mantas Petkevicius, Senior Associate Vytautas Sabalys, and Counsel Indre Sceponiene.

The Walless team consisted of Managing Partner Dovile Burgiene, Senior Associates Arturas Grimaila, Guoda Sileikyte, Associate Gabriele Adomaviciute, and Junior Associate Migle Jeremiciute.

Cobalt’s team was led by Partner Kristel Raidla-Talur with the support of Senior Associates Greete-Kristiine Kuru and Sven Bottcher and Assistant Lawyer Johanna Lumiste.

Cobalt at a Glance

COBALT is a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 250 attorneys and support staff. During 25 years of experience, we have become a strategic partner to our clients in handling both daily matters and complex large–scale transactions and disputes.

The firm’s broad spectrum of expertise and established position as the market leader gives a comprehensive basis for providing full-service business law advice.

Top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups are among our clients. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 7 times receiving Chambers Europe, IFLR, The Lawyer and Mergermarket awards, and we are regularly listed amongst the top-performing M&A legal advisors in the Bloomberg, Refinitiv and Mergermarket deal tables. Recognized as the No.1 Lithuanian law firm in the Prospera Law Firm Review 2021 and No. 1 law firm in Latvia in 2022, 2020, 2019, and 2018 client satisfaction surveys. We were recognized as a Baltic-wide Law Firm of the Year at the 2022 Chambers Europe Awards ceremony and named the Baltic States Tax Firm of the Year and Pro Bono Firm of the Year at the annual ITR EMEA Tax Awards 2021 ceremony. 

More information on COBALT can be found at www.cobalt.legal.