We advised the ultra-short pulse femtosecond laser startup Litilit on attracting EUR 3.5 million in investment from the Taiwanese venture capital company Taiwania Capital. This is the first investment in a Lithuanian company from a USD 200 million fund dedicated to Taiwanese investment in Central and Eastern Europe.
Lithuanian venture capital firm Iron Wolf Capital in this series A round invested EUR 200 000.
Opening global markets for Lithuanian lasers
With this investment, the fund Taiwania Capital aims to help the startup 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. 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,” says Nikolajus Gavrilinas, CEO of Litilit.
The establishment of the Taiwanese investment fund is one of Taiwan’s measures to develop economic relations with Lithuania following economic pressure from China. The funds are dedicated to creating joint ventures, investment projects and startups in the field of high technology: semiconductors, lasers and biotechnologies.
“This investment is another confirmation that Lithuanian laser companies are promising global market players. As we enter a new stage in the development of the Lithuanian economy, we continue with the ambitious goal of growing the Lithuanian laser and biotechnology sectors, as well as other innovative business sectors, faster,” says Aušrinė Armonaitė, the Republic of Lithuania’s Minister of Economy and Innovation.
Litilit will use the funds received from Taiwania Capital for the further development of femtosecond laser production, which is a patented technology.
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