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Cobalt Advises Project A on Investment in Contract Negotiating Start-Up Pactum

Cobalt Advises Project A on Investment in Contract Negotiating Start-Up Pactum

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Cobalt has advised Berlin-based early-stage investor Project A on its investment in Estonian start-up Pactum, an AI-based platform that enables global companies to automate personalized commercial negotiations on a massive scale.

The USD 3 million seed financing round that was led by Project A included investments by DocuSign and other previous Pactum investors.

According to Cobalt, "Pactum was founded in 2019 to help companies uncover hidden value in supplier contracts. Many Fortune Global 2000 companies have thousands of vendors with contracts that have been neglected for long periods of time because the value of the contracts are too small and too numerous to warrant proper procurement specialists’ time. Pactum autonomously negotiates these supplier contracts, which releases significant capital to the bottom line while also improving terms for vendors. Walmart is one of the first customers Pactum is able to disclose."

“We are convinced that AI-based systems will shape the future of commercial negotiations," said Uwe Horstmann, General Partner of Project A. "Pactum is well on its way to play an essential role in this future."

Cobalt's team consisted of Partner Peeter Kutman and Senior Associate Madis Reppo.

Cobalt did not reply to our inquiry on the matter.

Estonian Knowledge Partner

COBALT is closely integrated alliance of top-tier law offices in Estonia, Latvia, Lithuania and Belarus, making us one of the largest law firms in the Baltic market. 

COBALT is a trusted partner for daily matters and complex large-scale transactions and disputes. The firm’s broad spectrum of expertise and established position as the market leader give a comprehensive basis for providing advice on special areas of business law.

We advise top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups. 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 6 times. We were recognized as the Most Innovative Law Firm of the Year 2019 in the Baltics at the IFLR European Awards in London. COBALT also won CEE Legal Matters Deal of the Year Award for Estonia, Latvia, and Lithuania, as well as the overall Baltic Deal of the Year, at the 2019 CEE Legal Matters Awards. We have received multiple awards from the Chambers Europe, IFLR, The Lawyer and Mergermarket and we are regularly listed amongst the top performing M&A legal advisors in the Bloomberg, Thomson Reuters and Mergermarket deal tables

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

All News about Cobalt can be found here.

 

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