Sorainen has advised Open Circle Capital on its investment in Monimoto, a company developing a smart trackers for motorcycles. SPC Legal advised Monimoto on the deal.
According to Sorainen, “Monimoto successfully secured EUR 400,000 during its crowdfunding campaign and from a follow-up investment by venture capital funds Open Circle Capital and Iron Wolf Capital. In total it attracted funding from 392 investors.” According to the firm, with the funding raised, “Monimoto aims to expand its product offering, scale up its team, and boost the growth of the company in order to launch in new markets. This total means it has exceeded its target by EUR 100,000, helping it to fulfill its mission of stopping motorcycle theft and entering the North American market.”
Sorainen’s team was led by Senior Associate Vytautas Sabalys.
SPC Legal's team included Partner Mindaugas Rimkus and Junior Associate Brigita Ruibyte.