Major Assignments - Venture Capital

Triniti represented Eddy Travels, a Lithuanian startup developing an artificial-intelligence-based digital travel planning assistant

Eddy Travels, a travel tech startup founded by Lithuanians and based in Toronto, has raised €1.1 million in a pre-seed funding round, led by Baltic VC Practica Capital with participation from Lithuanian firm Open Circle Capital, Techstars Toronto, and angel investors.

Founded in 2018, the company has developed an AI travel assistant, which communicates with users via chat apps such as Facebook Messenger, WhatsApp, and Telegram. Pulling from Skyscanner, the digital assistant can search flights, accommodation, restaurants, and travel insurance.

For now the funding will go to immediate product development work that is adapting the app for travelers during the COVID-19 pandemic. Once the disease is contained and travel restrictions lifted, the startup will shift focus and expand into new markets.

Triniti advised Groa Real Estate Fund I on the acquisition of the Rimi Hypermarket shopping centre in Vilnius

Groa Real Estate Fund I, a fund managed by Groa Capital, completed an acquisition of a 3.800 sq.m. shopping centre Rimi Hypermarket in Vilnius on April 1, 2020. It’s the sixth investment of the Groa Real Estate Fund I already since the start of the Fund’s investment period in July 2018. Portfolio of Groa Real Estate Fund I amounts to a total gross value of over 27 m EUR after the latest acquisition. Groa Capital is a licensed fund manager supervised by Lietuvos bankas, a central bank of Lithuania.

The Wowtto team strikes an investment deal for business development

TRINITI has contributed to the success of another promising start-up company in raising their first venture capital investment for business development. Intenova working under the trademark Wowtto has custom-built a platform connecting drivers with brands. The investments were led by Blue Bridge, a company offering IT solutions for large organizations, and an early stage investor Coffee Ventures. TRINITI lawyers prepared and coordinated all the necessary documents for the investment deal

TableAir Lands 200 TEUR Investment Led by Practica Venture Capital

TableAir, a company producing ergonomic workstations, has raised 200 thousand EUR in convertible bonds from the Practica Venture Capital fund. This is the second investment raised by the start-up during the period of one year. In June 2015 an investment of the same amount in the form of convertible bonds was made by an early-stage venture capital fund Practica Seed Capital. TableAir has already attracted attention of the international media and were praised by such internet portals as Wired, Slate and New York Times. Read more

TRINITI VC and finance team prepared the investment documents for both deals, including the investment and convertible bonds agreements, shareholder agreement as well as the shareholders resolution for the emission of convertible bonds. Our lawyers also negotiated with the investor for more favorable conditions for the start-up and assisted with other activities related to the investments

Advising TechHub Riga resident start-ups

TRINITI provides legal and accounting services on a permanent basis to start-ups residing in the main Latvian technology co-working space TechHub Riga. We advise in the areas of incorporation, product development, data protection, tax, cross-border transactions, intellectual property protection, investment structuring and negotiations

Investment in electric city-scooter Stigobike

TRINITI lawyers advised Brugal Invest, an Estonian private equity company, in making a second-round investment in tech start-up Stigo OÜ. Stigo is developing a novel electric city-scooter StigoBike that weighs only 13.5 kg and has a footprint of 45×50 cm when folded. Read more