“Capitalia” together with the Finnish venture capital fund “Superhero Capital” has invested 150,000 euros in the Lithuanian start-up “Aispeco”.
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“Aispeco” is a Lithuanian startup that provides geospatial surveillance systems for helicopters, airplanes, drones and land vehicles. The company has developed a versatile platform where the operator can combine different sensors (cameras, LiDAR scanners, etc.) depending on the observation parameters and the specifics of the object. So far, for example, the inspection of power lines has been very inefficient, because existing sensor systems are huge and difficult to use. AISPECO’s technical solution is easy to install and adaptable to different surveillance objects and tasks. In addition, the device software allows data to be collected with fewer flights, which significantly reduces costs and makes the observation process more environmentally friendly. Currently, “Aispeco” products are used by various power transmission line operators, including “Elia Group”, “Manitoba Hydro”, “Geodigital” and others. The goal of this funding round is to conquer new markets and expand into other sectors such as rail and pipeline inspection.
“This is our first experience of cooperating with a fund outside the Baltic States. It can be seen that foreign venture capital funds are increasingly interested in investing in companies from the Baltic States, and this is a very good indicator of a ‘high market activity and other expected investments “, says the head of” Capitalia “Juris Grashin.
In general, “Aispeco” has raised more than € 1 million in funding from “Superhero capital”, “70Ventures” and “Capitalia” in this fundraising round. In 2020 “Aispeco” successfully concluded its participation in the “70Ventures” accelerator and since then the fund has continued to be involved in the development of the company. So far Aispeco has raised a total of 1.4 million euros in loans.
“We are very grateful for the endless support and trust we receive from such experienced and successful funds. This cooperation strengthens Aispeco’s progressive development,” says Mantas Vaskela, head of Aispeco.
This is the seventh investment made by “Capitalia Co-Investment Fund” since the company was established at the end of 2021. The fund has already invested in successful companies such as “Aerones”, “Bolt“,” Cenos “,” Favro “,” Inzmo “and” Scratcher “. In order to further develop fast growing European startups,” Capitalia Co-Investment Fund “actively attracts new investors with a minimum investment of 25,000 euros.
Capitalia Co-Investment Fund is a subsidiary of Capitalia. Since its inception in 2021, the fund has already offered venture capital finance to seven fast-growing European startups. Capitalia has also financed working capital and invested in over 5,000 companies, investing over 100 million euros in their development.
“Superhero Capital” is an early stage venture capital fund founded in 2015 which focuses on Finland and the support of young entrepreneurs from the Baltic states. The company is currently making investments from its second fund worth € 40 million. So far, Superhero Capital has invested in startups like Leadfeeder, Flowpayer, Printonpack.com, Cloud Factory, and many more.
