TRINITI attorneys in Estonia and Lithuania advised a management buyout transaction, whereby General Manager of Columbus in Baltics Ivo Suursoo and CEO of Columbus Lietuva Dovydas Zinkevicius acquired shares in Columbus Eesti AS and Columbus Lietuva UAB and the companies separated from Columbus A/S group listed on Nasdaq Copehagen stock exchange in Denmark. The assignment included preparation and negotiation of transaction documents and advising the whole transaction. Columbus is a leading digital innovation company in the Baltics with 170 employees and turnover in the region of 10,6 million euros.
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Eddy Travels, a travel tech startup founded by Lithuanians and based in Toronto, has raised €1.1 million in a pre-seed funding round, led by Baltic VC Practica Capital with participation from Lithuanian firm Open Circle Capital, Techstars Toronto, and angel investors.
Founded in 2018, the company has developed an AI travel assistant, which communicates with users via chat apps such as Facebook Messenger, WhatsApp, and Telegram. Pulling from Skyscanner, the digital assistant can search flights, accommodation, restaurants, and travel insurance.
For now the funding will go to immediate product development work that is adapting the app for travelers during the COVID-19 pandemic. Once the disease is contained and travel restrictions lifted, the startup will shift focus and expand into new markets.