COBALT represented Lithuanian venture capital company Practica Capital, managing Practica Seed Capital and Practica Venture Capital funds, in their joint investment of EUR 0.5m in the mobile robotics and unmanned missioning solutions company UAB Rubedo sistemos.
The investment was implemented through redemption by Practica Capital of the new convertible bonds issue of Rubedo sistemos.
Based in Kaunas Science and Technology Park, Rubedo sistemos specializes in the area of mobile robotics (navigation of self-driving vehicles, computer vision, unmanned missioning, and artificial intelligence). The company's team of professionals has built the FDA-compliant solution supplied to the medical device company Elekta and installed worldwide. The company is developing unmanned missioning solutions for autonomous vehicles, which dominate the fastest-growing end-user robotics applications from logistics, security & surveillance to assistive living.
COBALT advised on the structuring of the transaction, drafted transaction documentation, represented Practica Capital in negotiations, conducted legal due diligence and advised on other transaction-related matters. COBALT team was comprised of Partner Akvilė Bosaitė and Associate Aurelija Balčiūnė.