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Cobalt and Sorainen Advise on Series A Round Investment in Sonarworks

Cobalt and Sorainen Advise on Series A Round Investment in Sonarworks

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Cobalt Estonia has advised venture capital firm Karma Ventures and Sorainen Latvia has advised Practica Capital on their co-financing of EUR 5 million series A investment in Sonarworks.

Practica Capital in Lithuania and Karma Ventures in Estonia were lead investors in the round, with several other investors ‒ Revo Capital in Turkey, SuperAngel in Estonia, ProksCapital and Imprimatur in Latvia ‒ participating as well.

Sonarworks, which was founded in 2012 in Latvia, focuses on digital sound calibration technologies and has customers in over 170 countries. According to Sorainen, Sonarworks technology is used by at least 30,000 recording studios worldwide, including more than 35 Grammy winners.

Established in 2011 in Lithuania, Practica Capital is a dedicated Baltic venture capital fund focusing on investments in Baltic and Baltic-origin seed, early stage, and select growth stage technology ventures. Practica Capital manages several investment funds. According to Sorainen the investment in Sonarworks is the third ‒ and most significant ‒ by Practica Venture Capital II fund, which was established at the end of 2018.

Karma Ventures is an early-stage venture capital firm, specialized in late seed and A round investment in Europe’s tech start-ups.

Cobalt has previously advised Karma Ventures on investments in AppGyver (as reported by CEE Legal Matters on October 24), 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), Minut, Inc. (as reported on November 27, 2017), and Sonarworks (as reported on December 15, 2017).

The Cobalt team consisted of Partner Kristel Raidla-Talur and Senior Associate Greete-Kristiine Kuru.

The Sorainen team consisted of Managing Partner Eva Berlaus, Senior Associate Janis Bite, and Associate Liva Aleksejeva.

Editor's Note: This article has been updated to correct the composition of the Cobalt team. 

Latvian 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

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