Sorainen Lithuania has advised NanoAvionics, a satellite manufacturer, on securing an investment from Avellan Space Technology & Science to support the expansion of the company’s global operations.
Under the terms of the investment, AST&Science has acquired all shares from venture capital firm Practica Capital and made an additional investment in NanoAvionics’ capital assets.
AST&Science is a designer and manufacturer of miniature satellites for low-Earth orbit. NanoAvionics is a small satellite platform manufacturer and mission integrator. Over the past few years, the company has implemented over 40 satellite missions. According to Sorainen, NanoAvionics has sold its products to customers in 20 countries, obtained innovation grants from the European Commission, and won a contract with the European Space Agency.
Sorainen's Lithuanian team was led by Partner Laimonas Skibarka and Associate Vytautas Sabalys, and included Associates Ignas Motiejunas, Juliana Pavilovska, and Laura Matuizaite.