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Cobalt and Noor Advise on Ovoko's EUR 20 Million Investment Round

Lithuania
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Cobalt has advised Ovoko on a EUR 20 million phase B venture capital investment round led by Smash Capital. Noor advised the founders of Ovko. Sorainen reportedly advised Smash Capital.

According to Cobalt, "the company will use the funds to develop its products – a used car parts business management system, commerce platform, and logistics solutions. The company plans to expand its team, which is expected to add another 100 employees within 18 months."

“The company has the ambition to become the largest and most appealing platform for the e-commerce of used car parts in Europe, and the investment we have attracted will allow us to move towards this goal," Ovoko CEO and co-founder Justinas Baranovskis.

In 2022, Cobalt advised Piton Capital on its investment in Ovoko (as reported by CEE Legal Matters on October 17, 2022).

The Cobalt team included Partner Akvile Bosaite.

The Noor team included Partner Andrius Iskauskas, Associate Partner Audrius Slazinskas, and Of Counsel Donatas Zdanavicius.

Cobalt at a Glance

COBALT is a closely integrated alliance of top-tier law offices across the Baltics, uniting more than 250 attorneys and support staff. During 25 years of experience, we have become a strategic partner to our clients in handling both daily matters and complex large–scale transactions and disputes.

The firm’s broad spectrum of expertise and established position as the market leader gives a comprehensive basis for providing full-service business law advice.

Top international and regional businesses, financial institutions, state and local governments, and the region’s most promising start-ups are among our clients. We offer leading-edge solutions in key industry sectors: Consumer Products, Trade & Distribution, Real Estate & Construction, Pharmaceuticals & Healthcare, Energy & Utilities, Communications, Media & Technologies, Financial Services, Transport & Logistics.

COBALT has been named Baltic Law Firm of the Year 7 times receiving Chambers Europe, IFLR, The Lawyer and Mergermarket awards, and we are regularly listed amongst the top-performing M&A legal advisors in the Bloomberg, Refinitiv and Mergermarket deal tables. Recognized as the No.1 Lithuanian law firm in the Prospera Law Firm Review 2021 and No. 1 law firm in Latvia in 2022, 2020, 2019, and 2018 client satisfaction surveys. We were recognized as a Baltic-wide Law Firm of the Year at the 2022 Chambers Europe Awards ceremony and named the Baltic States Tax Firm of the Year and Pro Bono Firm of the Year at the annual ITR EMEA Tax Awards 2021 ceremony. 

More information on COBALT can be found at www.cobalt.legal.