Sorainen has advised Litilit on its series A investment round. Ellex advised Taiwania Capital on its EUR 3.5 million investment. Walless advised existing investor Iron Wolf Capital on a further EUR 200,000 participation.
Litilit is an ultra-short pulse femtosecond laser start-up in Lithuania.
Taiwania Capital is a Taiwanese venture capital company that manages six funds, with a combined USD 865 million of assets under management.
Iron Wolf Capital is a Lithuanian venture capital firm.
According to Sorainen, “this is the first investment in a Lithuanian company from a USD 200 million fund dedicated to Taiwanese investment in Central and Eastern Europe. With this investment, the fund Taiwania Capital aims to help the start-up enter and expand its business in the US market.”
“Taiwan, being the world leader in the semiconductor market, holds a significant place in the laser industry,” Litilit CEO Nikolajus Gavrilinas commented. “Lasers exported to Taiwan are mainly used in the semiconductor industry and related high-tech fields. Therefore, this investment shows not only their faith in the potential of the lasers developed by Litilit, but also international recognition of the innovations we create. This opens up opportunities for us to grow even faster, expand production capacity, and establish new trade relations.”
Sorainen’s team included Partner Mantas Petkevicius and Senior Associate Matas Maciulaitis.
The Ellex team included Partner Ruta Armone and Associates Ausra Abraityte, Kamile Skrupskyte, and Vilius Norvaisas.
The Walless team included Partner Andrius Ivanauskas and Senior Associate Domas Sileika.