Our team assisted the owners and co-founders of Deeper, and the financial investor Gemini Grupė, in selling the company shares to Resource Partners. The new investors will become the majority shareholders in the company and will be supported by Donatas Malinauskas, who will continue in his role as CEO.

Deeper is considered one of the most successful startups in Lithuania. It was founded in 2012 and is currently a global market leader in castable sonars.

From a small Lithuanian startup to a globally recognised brand

Aurelijus Liubinas and Rolandas Sereika, co-founders of Deeper, said: “It has been an exceptional journey for all of the founders. Growing from a small startup to a globally recognised brand was very challenging. We would like to thank all the international and local talents who spent numerous hours turning our idea into a reality. We have built a network of 50+ partners globally and 400+ international brand ambassadors, and we have received 40+ international and local awards. Deeper has also become the best-rated product in the category by global users on numerous marketplaces and application stores. These are only a few of the achievements our team has reached. We hope the company and the management team will keep on the same trajectory and continue being one the most successful businesses in Lithuania.”

Our team has been advising Deeper since its first seed round in 2012. Laimonas Skibarka, managing partner at Sorainen, comments: “I remember very well our first meeting with Aurelijus and Rolandas: nine years ago they showed us a presentation about the concept of a smart wireless device and asked to assist them with a seed funding round. We are very happy to have witnessed Deeper’s international success story and their development into one of the biggest startup exits in the Baltics. It has been a great privilege and pleasure for us to support the Deeper team along the way and we are grateful for their trust.”

Our services and the project team

We assisted the client on all transaction-related matters. Our team, led by partner Mantas Petkevičius, consisted of counsel Lina Ragainytė-Mezenė, senior associates Inga Macijauskaitė and Mindaugas Dominykas Baniulis, associate Simona Vaicekauskaitė, and legal assistant Goda Jakubauskaitė.