Sorainen has advised Laba7 on a EUR 640,000 investment from the Coinvest Capital fund in cooperation with 44 members of the Lithuanian Business Angel Network LitBAN community. TGS Baltic advised Coinvest Capital.
Laba7 is a Lithuanian start-up developing suspension testing and servicing tools. According to Sorainen, “the new funds will allow Laba7 to further strengthen its R&D division, giving it the ability to bring even more products to the market. Moreover, the company also plans to increase its marketing efforts in order to be more visible on social media, the best exhibitions, and events.”
“These investments will help us take a big step towards our ambitious goals: we want to become leaders in cycle, motorcycle, and car sports and popularise the name of Lithuania,” Laba 7 Manager Andrius Liskus said. “We will continue to improve the products we already have, but most importantly, we will now have more opportunities to create new products, grow the team faster and allocate a budget for marketing. This is essential for us to become the number one choice.”
Sorainen’s team included Partner Mantas Petkevicius, Senior Associate Matas Maciulaitis, and Associate Goda Jakubauskaite.
TGS Baltic's team included Partner Dalia Tamasauskaite-Ziliene and Associate Rimante Varapnicke.
