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RLN Advises Practica Capital on NanoAvionika Investment

Raidla Lejins & Norcous (RLN) has advised Practica Capital, a group of venture capital companies managing the Practica Seed Capital and Practica Venture Capital venture capital funds, on its EUR 200,000 investment in NanoAvionika — the aerospace technologies company founded as a spin-off from Vilnius University in 2014.

NanoAvionika is, according to RLN, the first Lithuanian aerospace technologies startup and one of the first such startups in Eastern Europe to attract a venture capital investment. Its members belong to the successful LituanicaSAT-1 project. LituanicaSAT-1 is not just the first Lithuanian CubeSat but also one of the first two European CubeSats launched from the International Space Station. Currently, the company is dealing with the first commercial order from a foreign customer and together with Vilnius University is implementing the LituanicaSAT 3U-2 satellite project, which is part of the international QB50 mission. In August NanoAvionika will present its products and technologies at Small Satellite Conference in the USA.

“With Practica Capital financial backing and help, we are able to take another step in arranging our ideas and providing novel small-satellite-technology solutions to the global market,” said Vytenis Buzas, CEO and co-founder of NanoAvionika.

The Raidla Lejins & Norcous team drafted transaction documents, represented Practica Capital during negotiations, conducted due diligence, and advised on other transaction-related matters. The team was led by Associate Ruta Balkeviciute-Maceikiene.

 

Ceelegalmatters.com: RLN Advises Practica Capital on NanoAvionika Investment

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