Cobalt has advised venture capital firm Karma Ventures on yet another investment, this time in Vilnius-based CGTrader.
Cobalt describes CGTrader, founded in 2011 in Vilnius, as "one of the largest 3D model marketplaces," and says that "they provide 3D models for professionals in computer graphics, gaming, video production, advertising, VR/AR, and other industries." According to Cobalt, "in the investment round, they raised EUR 2 million that will be used to accelerate marketplace growth, build infrastructure that will make 3D designers’ workflow more efficient, and establish presence in the United States, which is currently the largest market for 3D models."
Karma Ventures is an early-stage venture capital firm specializing in late seed and A round investments in European tech startups. Just last week Karma Ventured announced its investment in Sonarworks, a Latvian innovative audio technology startup (as reported by CEE Legal Matters on December 15, 2017), and it has previously invested in AppGyver (as reported by CEE Legal Matters on October 24, 2017), Plumbr (as reported by CEE Legal Matters on April 19, 2017), SpectX (as reported on June 9, 2017), Adaptive Simulations (as reported on May 9, 2017), and Minut, Inc. (as reported on November 27, 2017).
Cobalt's team was led by Estonian Partner Kristel Raidla-Talur and Associate Greete-Kristiine Kuru. Cobalt Lithuania assisted with due diligence and local legal advice.