We advised the Lithuanian-founded startup Outcraft AI, developing an agentic artificial intelligence (AI) platform that automates part of the sales function. The startup secured a EUR 2 million investment, which it plans to use for product development, expanding its customer base, and hiring new employees.
The round was led by Lithuanian venture capital fund manager Practica Capital. At an even earlier stage, Outcraft AI had received investment from Lost Astronaut, an accelerator founded by Tadas Burgaila, the founder of the Kilo group.
The AI agent platform being developed by the startup automates part of the sales work previously carried out by people, such as making calls and sending emails and SMS messages to potential and interested customers.
The company states that the goal of the platform is to offer autonomous AI agents capable of executing sales and managing the entire revenue generation cycle.
Outcraft AI was founded last year, and the company now reports having around 30 clients. It managed to raise EUR 2 million in investment in less than a year since launching its product.
Our team and services
Our team, consisting of senior associate Mindaugas Baniulis and associate Radvilė Kvėdaraitė, advised the client on all aspects related to the transaction, including negotiations and the preparation of documentation.
Partner Miglė Dewsbury and counsel Ignas Sidaras advised the startup on regulatory matters and legal aspects related to compliance with the EU Artificial Intelligence Act, as well as prepared the legal documentation for the platform, including terms of use, privacy notices, and other related documentation.
