We advised Koinvesticinis fondas on investing in Nanoenergija – a Lithuanian startup which has developed vibration energy harvesting technology to power wireless IoT sensors. A total of EUR 180,000 has been invested in the startup by Koinvesticinis fondas (EUR 126,000) and LitBan (EUR 54,000).
Although Nanoenergija developed their technology only at the beginning of this year, the startup already has 13 clients throughout the globe, including such companies as Siemens, Husqvarna, Singapore Telecom Singtel, and Belgian railways.
The investment is said to be used for further research and development, as well as increasing sales and patenting of the technology.
Technology that saves costs and solves sustainability issues
Comments Donatas Ponamariovas, founder and manager of Nanoenergija: “There are many wireless sensors that measure the performance of a vibrating device. All of these sensors are battery-powered, so it creates pollution. Our technology generates a sufficient amount of energy from vibrations only, so it can maintain the sensors and decrease process costs by 60%.”
Our services and project team
Partner Mantas Petkevičius, senior associate Vytautas Sabalys, and associate Augustė Bučytė advised Koinvesticinis fondas on all legal issues related to the investment.