Advised smart energy startup in securing investment

Our Corporate and M&A team has advised the founders of In Balance grid in securing investment from Koinvesticinis fondas, Contrarian Ventures and angel investors.

In Balance grid develops charging infrastructure that is built on a cluster system with a master and slave design concept, where the majority of the components are off the shelf and managed by In Balance grid software. Innovations in software development allow the company to ensure the distribution of electrical energy between all consumers through dynamic load management and virtual queues.

The startup has raised 950 thousand EUR in total. The investment was led by Contrarian Ventures, with the majority, or 600 thousand EUR of investment, coming from Koinvesticinis fondas which invests along-side business angels and other funds. Investors joining the company round include Mantas Mikuckas, the cofounder of the first unicorn Vinted founded in Lithuania as well as Ernestas Petkevicius, seasoned angel investor.

The representative of Koinvesticinis fondas commented that: “Charging infrastructure will be a crucial part of our journey to a climate-neutral economy by 2050, therefore we appreciate the opportunity to invest and support in In balance grid team. This investment is the first under our fund’s financial instrument Koinvesticinis fondas for Transport and Communication which is allocated for transport development.”

Our lawyers consulted the founders on investment terms and assisted in the coordination of investment documentation and post-investment integration.

This investment is an addition to our portfolio of green initiatives deals.