We advised LABA7, a Lithuanian startup developing innovative suspension testing and servicing tools, on attracting EUR 640,000 in investment from the CoInvest Capital fund in cooperation with 44 members of the Lithuanian Business Angel Network LitBAN community.
On the way to become leaders in cycle, motorcycle and car sports
The new funds will allow LABA7 to further strengthen its R&D division, giving it the ability to bring even more products to the market. Moreover, the company also plans to increase its marketing efforts in order to be more visible on social media, the best exhibitions, and events.
“These investments will help us take a big step towards our ambitious goals: we want to become leaders in cycle, motorcycle and car sports and popularise the name of Lithuania. We will continue to improve the products we already have, but most importantly, we will now have more opportunities to create new products, grow the team faster and allocate a budget for marketing. This is essential for us to become the No. 1 choice,” says LABA7 manager Andrius Liškus.