Cobalt has advised Lithuanian venture capital fund management company Practica Capital on its investment in anti-money laundering start-up Amlyze.
According to Cobalt, Amlyze has raised EUR 1 million and is “entering a new stage of geographical and team growth. The investment is great news not only for Amlyze, but also for Lithuania as a technological innovation center. It will allow Amlyze to develop its operations in different countries and strengthen the team in order to ensure sustainable growth and a greater impact on the security of the financial sector.”
Amlyze technology “features advanced techniques using artificial intelligence (AI) algorithms and data analytics to detect and stop money laundering activities,” Cobalt announced.
Back in 2022, Cobalt advised Practica Capital on its investment in a wellness and rehabilitation center in Druskininkai (as reported by CEE Legal Matters on July 26, 2022).
The Cobalt team was led by Partner Akvile Bosaite.