COBALT advised Interactio, a developer of a smart interpretation system, on attracting a EUR 0.5 million investment from business angels and the Co-Investment Fund. The start-up attracted EUR 174,000 from business angels and EUR 261,000 from the Co-Investment Fund. The total investment amount is EUR 435,000 and it will be enable the founders of this start-up to faster achieve their ambitious goals on the global market.
The intelligent interpretation app developed by the Lithuanian startup Interactio is on the top 40 list of the world’s best mobile solutions and has been used in 38 countries for several years. Business giants such as Microsoft, Google and Amazon are among the clients of Interactio.
This mobile system enables to give up expensive simultaneous interpretation equipment which is used during conferences. In addition, this solution enables a conference interpreter to work from any part of the world. During an event, it is sufficient for a participant to have a smart device: mobile phone, computer or tablet, headphones and access to the Internet. This saves the time and money spent in distributing and collecting conference equipment during events.
COBALT advised the client on all matters related to structuring of the transaction, prepared transaction documents, represented Interactio in negotiations and advised it on other matters related to the transaction. The project team consisted of Associate Partner Eva Suduiko and Associate Viktorija Dusajeva.