Triniti has advised Depo Ventures on leading a USD 1 million investment round in DriveX.
According to the firm, Plug and Play, Fund Fellow Founders, and Startup Wise Guys participated in the round.
Depo Ventures is a Prague-headquartered venture capital fund focusing on early-stage startups from Central and Eastern Europe.
DriveX is an Estonian-based software company developing automated vehicle inspection solutions. The company offers a web-based app to digitize vehicle inspection processes.
"Estonia and the Baltics is a great place to start," DriveX CEO Rauno Sigur commented. "Many call it the sandbox of innovation. Estonian startups are known to be outstandingly capital-efficient, which is a fundamental advantage in building a startup. DriveX already has large insurance corporations as customers in Estonia, Latvia, Lithuania, Croatia, and Romania. The next big markets we will be addressing are Poland, Czechia, and Romania to strengthen our position as the market leader in CEE. We also plan to dive deeper into market demand from other continents, such as Africa and the Middle East."
The Triniti team included Senior Associate Valter Vohma.
Triniti did not respond to our inquiry on the matter.
